October Events: Please Join Us!

Merchants Bank, Community Events

Be sure to follow us on our Facebook page for information on these events or pictures from other events you may have missed.

10/9 Bomber Spirit Night
5:00-6:30 p.m.
At John Burch Park in Cannon Falls

The Cannon Falls Education Foundation invites you to Bomber Spirit Night. Enjoy a spirit night event prior to the football game vs. the La Crescent Lancers. Food, games, and more!

10/20 Eau Claire Business Expo
11:30 a.m. – 3:30 p.m.
At the
Eau Claire Indoor Sports Center

Stop by and visit our friendly staff at our booth. Admission to the Expo is $5 per person.

10/20 Red Wing Business Expo
4:00 p.m. – 6:30 p.m.
At the
St. James Hotel

Stop by and visit our friendly staff at our booth.


Meet Alyssa Rood, Quality Assurance/ Loan Review Specialist at Merchants Bank

RoodAlyssaHow long have you been with Merchants?
Alyssa: I have worked at Merchants for over six years. I previously worked as our Fraud and Purchasing Specialist. I moved to Quality Assurance in 2012.

What do you enjoy about coming to work every day?
Alyssa: I love Merchants Bank employees. We have some fun, quirky people here and I’m a fun quirky, gal. I feel like I fit in pretty well.

What’s one thing your mom or dad taught you about money?
Alyssa: They taught me that I needed to be realistic and save if I wanted to buy something special. When I was young, I knew I really wanted to go to Australia. So, I immediately started working in high school to save for the trip. I actually studied abroad there in the fall semester of my junior year of college.

What’s one thing on your bucket list?
Alyssa: I have an extensive bucket list. I see it as a fun checklist. The biggest thing on my list – skydiving – was checked off a couple of years ago. I would also like to write and illustrate a children’s book and whittle something.

Besides money, what’s your favorite green thing?
Alyssa: The Packers!

What’s your secret talent?
Alyssa: I pick up random hobbies. Things like learning how to do special effects makeup, creating stained glass, snowshoeing, etching glass, and many more over the years. It’s why my small apartment is very cluttered.

Meet Rachel Larson, Audit & Compliance Officer at Merchants

Rachel, pictured with her husband, Charlie and children, Greta and Charles

Rachel, pictured with her husband, Chuck and children, Greta and Charlie

How long have you been with Merchants?
Rachel: I started in the Bookkeeping area in 1999. Then, in 2000, I moved to the ACH/Wire department. From there I worked in the Internal Audit Department in 2004 and eventually the Audit/Compliance Department in 2005, where I still am today.

What do you enjoy about coming to work every day?
Rachel: The challenge and the people. My job is not monotonous; every day it’s something different. Banking industry regulations are evolving and complicated, and it’s challenging to stay up on top of everything, but it’s an attainable goal. Plus, I truly enjoy all of my co-workers.

What’s one thing your mom or dad taught you about money?
Rachel: How to do a projected three-month budget and stick to it. Really.

What’s one thing on your bucket list?
Rachel: To go to Denali National Park in Alaska with my husband and two kids. We love the outdoors…camping, fishing, you name it.

Besides money, what’s your favorite green thing?
Rachel: My Kindle, which is in a green protective case. I love to read…I read two books a week.

What’s your secret talent?
Rachel: Proofreading. I proofread articles, I proofread signs…I have no idea why. It must be the auditor in me.

Helping Realtors Help Their Customers

TRID4Days-BlogTaking the Right Steps May Keep You from Delays
It’s difficult for everyone concerned when a closing is delayed. A new consideration has been added to the mix with the TILA-RESPA Integrated Disclosure (TRID) rules for mortgage applications submitted on or after October 3, 2015.

The new Closing Disclosure has been put in place to add protection for customers by moving the Closing Disclosure timeframe from 24 hours to 3 business days, if hand-delivered, and 6 business days, if sent by mail. TRID rules will require the lender to give customers 3 to 6 more business days under certain change in circumstances to review the closing disclosure.

Three Things Will Require a New 3-day Review for Your Buyers:

  1. The APR (Annual Percentage Rate) increases by more than 1/8 of a percent for fixed-rate loans and ¼ of a percent for adjustable rate loans. A decrease in APR will not require a new 3-day review.
  2. A prepayment penalty is added, making it more expensive to sell or refinance.
  3. The basic loan product changes, such as a switch from a fixed rate to an adjustable interest rate or to a loan with interest-only payments, or a switch in terms, for example, going from a 30-year mortgage to a 15-year mortgage.


This should help:
We hope this information will provide help to ensure new October 3, 2015, TRID requirements don’t delay your client closings:

  • The Closing Disclosure must be delivered to the buyer/consumer at least 3 business days prior to the scheduled closing date. If by mail, the disclosure should be delivered/mailed 6 business days prior to the scheduled closing date.
  • To meet the Closing Disclosure delivery requirements of 3 and 6 business days, mentioned above, the closing agent should get information to the lender 10 to 14 days prior to the closing date for completion of the Closing Disclosure. We suggest you communicate to the closing agent all your buyer paid charges, so the closing agent can comfortably get information to the lender. Plus, remember an additional 3 to 6 more business days may be needed, if a re-disclosure is triggered.
  • The closing agent will need your real estate company’s state license number and your individual real estate number for the Closing Disclosure. Every file should contain the listing and selling agents name and phone number, contact information for the buyer and seller and the lender’s contact information.
  • Keep in mind that depending on the agreement, the lender, not the closing agent, may be preparing and delivering the Closing Disclosure.
  • Consider booking the actual closing date earlier in the process. This will help everyone in the process, encouraging everything to be completed in a timely manner. You can use the booked date to help prorate taxes, determining HOA (Homeowner’s Association) dues, calculating odd days’ interest and so on.
  • Make sure any repairs that need to be completed and proof of the completion/re-inspection should be done prior to the closing.
  • If applicable, well certificates need to be recorded. We suggest you solve this at the time the property is listed. Be clear on who is paying to record any well certificates.
  • Study the new Closing Disclosure form/format so you are able to answer questions from buyers and sellers. The new rules could affect the dates you put in place. Make sure they are realistic.

Please note, changes/adjustments that affect the value of the property may trigger additional disclosure and review periods.

The laws are continually changing to protect your customers, and the information can be hard to digest. If you have questions, give me a call or send me an email. I’m here to help make the process as smooth as possible for you and your customers.

Loans are subject to credit approval.

Sources include: Old Republic Title company’s “Top 10 Things Real Estate Agents Should Know About the New TILA-RESPA Integrated Disclosures (TRID)” and the Consumer Financial Protection Bureau’s “Will the new mortgage disclosures delay my closing.”

Cheesecake Factory Pumpkin Cheesecake



  • 1 1/2 cups graham cracker crumbs
  • 5 Tbsp. butter, melted
  • 1 cup plus 1 Tbsp. sugar, divided
  • 3 – 8 oz. packages cream cheese, softened
  • 1 tsp. vanilla
  • 1 cup canned pumpkin
  • 3 eggs
  • 1/2 tsp. cinnamon
  • 1/4 tsp. nutmeg
  • 1/4 tsp. allspice
  • whipped cream



Preheat oven to 350°. Make the crust by combining the gram cracker crumbs with the melted butter and 1 tablespoon of sugar in a medium bowl. Stir well enough to coat all of the crumbs with the butter, but not so much as to turn the mixture into paste. Keep it crumbly. Press the crumbs onto the bottom and about 2/3 of the way up the sides of a spring form pan. You don’t want the crust to form all of the way up the back of each slice of cheesecake. Bake the crust for 5 minutes, then set it aside until you are ready to fill it.

In a large mixing bowl combine the cream cheese, 1 cup sugar, and vanilla. Mix with an electric mixer until smooth. Add the pumpkin, eggs, cinnamon, nutmeg and allspice and continue to beat until smooth and creamy.

Pour the filling into the pan. Bake for 60-70 minutes. Top will turn a bit darker at this point. Remove from the oven and allow the cheesecake to cool.

When the cheesecake has come to room temperature, put it into the refrigerator. When the cheesecake has chilled, remove the pan sides and cut the cake into 8 equal pieces. Use dental floss to make a clean cut. Serve with a generous portion of whipped cream on top. Serves 8.


Merchants Family Cookbooks are available at all Merchants Bank locations for $15. Proceeds benefit local food shelf programs.

Meet Wendy Cagle, Loan Review Officer at Merchants

Wendy, with her son, Clay, and husband, Greg.

Wendy, with her son, Clay, and husband, Greg.

How long have you been with Merchants?
Wendy: In 1993, I started in Mortgage Processing – the same year I got married, actually! In 1996, I accepted a position in Loan Review. When I started in Loan Review, I mainly reviewed mortgage loans and created monthly Board reports. Eventually, I transitioned to commercial loan review and commercial has become my main focus. I audit our loans to make sure loan policy is followed and risks are identified. I also review a sample of all other loans throughout the year too.

What do you enjoy about coming to work every day?
Wendy: I definitely enjoy my co-workers. They make my day fun. I truly enjoy my work too. A lot of people might think loan review is boring, but every file I open is a new adventure. I’m looking at new things every day. You get to see how businesses grow over the years. Plus, Merchants is such a community minded place. Our management’s positive approach brightens our work environment.

What’s one thing your mom or dad taught you about money?
Wendy: I’m a saver. If I wanted to buy something special when I was growing up, I had to save my own money for it.

What’s one thing on your bucket list?
Wendy: I’m not really a bucket list type of person. I want to live life every day and not wait for the future.

Besides money, what’s your favorite green thing?
Wendy: Green beans. I am a green bean nut. I’m a vegetarian and they are a staple of my diet.

What’s your secret talent?
Wendy: Always trying to see the good in every situation. I’ve been called Miss Positivity.

Enter Our Halloween Coloring Contest


It’s easy to enter!

  1. Color your coloring sheet.
    0-5 years coloring sheet
    6-9 years coloring sheet
    10+ years coloring sheet
  2. Complete the Registration Information at the bottom of this page.
  3. Drop off or mail your completed coloring sheet to your nearest Merchants Bank location by October 29 to be entered in our contest. You could win a prize!*

And, because you and all of our young savers are important to us, we’ll have a special Halloween treat waiting for you for returning your entry. We look forward to seeing you and don’t forget to tell a friend about our Halloween coloring contest!

*Please submit entries by October 29, 2015. Judging will take place on October 29, 2015 at 4:00 p.m. Three age groups: 0-5 years, 6-9 years, and 10 years and older. A prize will be awarded to each age group. No purchase or customer relationship necessary to enter or win. One entry per person. Winner will be notified by telephone. Children of Merchants employees are not eligible to win.