Apple Valley students who made lay-ups, free throws and half-court shots during Merchants Bank’s Money Ball halftime shootout at Apple Valley High School basketball games this season earned $1,680. Because of their efforts, Merchants Bank will match the $1,680 earned and donate that money to the Apple Valley Basketball Booster Club.
“It was great fun. The students and fans alike really enjoyed the halftime shootout. We’re happy to do it and happy to match that sum to the boosters who are supporting these great high school athletes,” said Merchants Bank’s Twin Cities Regional President Lawrence Stovern.
Students signed up before each game and were chosen in a random drawing to be the Money Ball shooters at both boys’ and girls’ games. The students reached the total by receiving a $10 gift card each time a participating student made a lay-up, a $25 gift card was given each time a participating student made a free throw, and $100 in cash was given each time a student made a half-court shot. The half-court shot was a progressive jackpot and there were three big winners during the year – one for $500 by Ja’Quan Robinson, another for $300 by Mohamed Kone and $100 to another Apple Valley student.
“The best part is the kids were actually the ones who raised the money for the boosters by making the shots,” Stovern said.
Pictured from left to right: Debbie Jones (Apple Valley Basketball Booster Club), Brian Wester (Merchants Bank), Tiffany Elliot (Apple Valley Basketball Booster Club), Dale Trobroxen (Apple Valley Basketball Booster Club), Lawrence “Skip” Stovern (Merchants Bank)
WINONA, Minn. – Merchants Financial Group, Inc. ended 2013 with its second best year ever in terms of net income at $11,612,049, according Merchants Financial Group, Inc. President & CEO Rodney R. Nelson.
“We were pleased with our results. We finished well ahead of our plan for the year, and we continue to be well positioned for continued growth,” Nelson said.
The $11,612,049 is a slight decrease from the record year of 2012 when, aided by extraordinary mortgage volume, Merchants reported net income of $12,439,492. Merchants saw increases in many other key indicators in 2013. Loan balances increased 12.2% to $972.26 million, up from $867.15 million in 2012. Equity increased to $116.0 million in 2013, up from $112.2 million. Deposits increased to $1.13 billion, up from $1.07 billion in 2012. The asset size of Merchants also increased to $1.366 billion in 2013, up from $1.286 billion in 2012.
Merchants acquired locations in Rushford and Lanesboro in November, and recently acquired a new location in Eau Claire. Merchants also made changes in leadership as Nelson succeeded Richard L. Mahoney as Merchants Financial Group, Inc. President & CEO on January 1. Greg Evans was also recently named President & Chief Banking Officer for Merchants Bank and will oversee operations at its 21 bank locations. Both Nelson and Evans are long-time leaders in the Merchants organization.
“As an organization, we are prepared for growth. We look forward to the coming year and continuing to serve our customers in the manner they deserve,” Nelson said.
CALEDONIA/SPRING GROVE, Minn. – Caledonia native Matthew Schuldt has been appointed Market President for Merchants Bank in Caledonia and Spring Grove, according to Merchants Bank’s Southern Region President Jay Friedl.
Schuldt served as Interim President of First Community Bank in Lester Prairie, Minn., and also worked in other roles at the bank, including Vice President of Lending, working with consumer, agriculture and commercial lending customers.
“Matt’s experience will serve our Caledonia and Spring Grove customers very well as he helps them find the solution that is best for their individual needs,” Friedl said.
In addition to his experience at First Community Bank, Schuldt also spent eight years working with Eide Bailly, a public accounting and business advisory firm. He also volunteers as a youth wrestling coach.
“I’m excited to be a part of an organization so well thought of by community bankers throughout the state. Certainly, Merchants has the resources that make it possible to finance almost any sort of loan, but the strength of the organization is how it treats each customer like that person is the Bank’s only customer,” Schuldt said.
Schuldt started his new position in Caledonia and Spring Grove on February 24.
Left to right: Cheryl Webb, Senior Vice President of Field Operations for MGIC, Bob Dougherty of Merchants Bank, and Elyse Mitchell, Lead Account Manager for MGIC.
Mortgage insurance leader MGIC recently presented Merchants Bank with its Partnership Award, which recognizes a business partner for loyalty, superior business quality and leadership in the mortgage industry.
Merchants Bank’s Vice President of Mortgage Operations Robert Dougherty accepted the award from MGIC’s Senior Vice President of Field Operations Cheryl Webb and Lead Account Manager Elyse Mitchell. MGIC is based in Milwaukee and provides mortgage insurance for about 1 million homes.
“It means a lot to our organization that we rose to the top of what MGIC was looking for in a partner. The award really celebrates the work of our entire company, including our exceptional sales force, as well as the operations area,” Dougherty said. “It’s been a great partnership for both of us. We really appreciate their continued work in educating our operations and sales teams.”
Merchants Bank’s Mortgage Operations area provides service and support for the mortgages written by Merchants Bank employees at the Bank’s 21 locations, as well correspondent mortgage services for about 210 community banks across Wisconsin, Minnesota, Iowa, and North and South Dakota. More than 45 Merchants Bank employees support the Mortgage Operations area.
EAU CLAIRE, Wis. –Jeff Zwiefelhofer has joined Merchants Bank as an Assistant Vice President and Commercial Banker, according to Merchants Bank’s Eau Claire Market President Mark Willer.
Zwiefelhofer has been a business lender at Alliance Bank since 2009. He has worked as a community banker since 1983. Most of that time has been spent in the Chippewa Valley. Merchants Bank acquired Alliance Bank’s Mall Drive location February 14.
“Jeff is very well known in this area. That will be a benefit for Merchants as we build our brand in the Chippewa Valley. More so, it will be a benefit for Jeff’s customers as they build a relationship with a bank that has the resources to be a strong financial partner.” Willer said.
Zwiefelhofer has been an active community member. He is currently Treasurer of the Hastings Way Business Association, and a former Board Member of the St. Croix Economic Development Corporation and Chippewa County American Red Cross. He’s also a former Treasurer of the Chippewa Falls Jaycees, and a former member of the Chippewa Falls Main Street Marketing Committee, and the Woodville Lion’s Club.
“I look forward to sharing all that Merchants Bank has to offer. The people I know will be impressed by Merchants’ commitment to community banking and the resources that I will have available to me,” Zwiefelhofer said.
Veteran Mortgage Lender Rick Roesch has joined Merchants Bank, according to Merchants Bank’s Eau Claire Market President Mark Willer.
Roesch had most recently been a mortgage lender at Alliance Bank, which was acquired by Merchants Bank February 14.
“We are extremely pleased that Rick will continue providing home loan solutions to Chippewa Valley mortgage customers. We know that he brings a thorough understanding of the mortgage industry to Merchants,” Willer said.
In addition to his seven years as a mortgage lender at Alliance, Roesch has been active in the Chippewa Valley real estate industry since 1978. He has worked as a real estate agent, assessor and appraiser, in addition to his work as a mortgage lender.
“Merchants is appealing to me and should be appealing to customers because it offers a full range of mortgage options. That means that customers can be fitted to the type of loan that is best for them,” Roesch said. “Perhaps most appealing, given my experience in the industry, is the fact that Merchants Bank services its own loans. That makes all the difference in the world when you need someone to talk to.”
Roesch has remained active in the community. He currently serves as an Elder in his church. Most recently he served on the Board of Directors for the Foundation Board of the Realtor Association of Northwest Wisconsin.
As seen in the Winona Post
On February 11, the Project FINE Board of Directors hosted its “Annual Report to the Community” at the Saint Mary’s University Toner Center. This event is a celebration of the organization’s activities and accomplishments during the previous year and a time to thank the many partners, stakeholders, staff and volunteers who help Project FINE make a positive impact in our community.
Each year, Project FINE recognizes an exceptional partner with the Partners Award. For 2013, we are pleased to honor Merchants Bank with this award.
Pictured are Fatima Said, Project FINE Executive Director; Rod Nelson, Merchants Bank President and CEO; and Dr. Connie J. Gores, Project FINE 2013 Board President.
Merchants Bank has been an exceptional partner to Project FINE for many years. In 2013, they completed an organizational diversity assessment and collaborated with Project FINE to provide diversity training for bank staff. Merchants Bank also offered a series of banking education sessions for refugees and immigrants on home ownership and refinancing and they continue their commitment to serving diverse populations by providing interpreters for their non-English speaking bank clients. As a result of this education and outreach, four newcomer families purchased a home through Merchants Bank in 2013 and countless others opened accounts.
Project FINE would like to thank the leadership and staff at Merchants Bank for their commitment to creating an inclusive environment and meeting the banking needs of newcomers in our community. We are proud to partner with Merchants Bank and over 60 other community businesses, organizations and service providers to build a respectful and sensitive community.