John Piscitiello Joins Merchants Bank in Apple Valley as a Commercial Banker

John Piscitiello, Vice President and Commercial Banker

John Piscitiello, Vice President and Commercial Banker

John Piscitiello has joined Merchants Bank in Apple Valley as a Vice President and Commercial Banker, according to Merchants Bank Regional President Lawrence Stovern.

“John’s experience with commercial lending and his experience in the Twin Cities market will allow him to assess and meet the needs of his customers,” Stovern said. “We look forward to John growing with us as we continue to expand our reach in the Twin Cities.”

Piscitiello has been in the banking industry the past 16 years, most recently with Associated Bank. He has also worked with the Safire Group, Merrill Lynch/Bank of America, and he started his career working in construction lending for his own company.

Piscitiello is a Winona native and graduate of Saint Mary’s University in Winona. Merchants Bank was founded in Winona.

“I grew up with Merchants Bank and know that it is an incredible organization and an exceptional lender. It’s also one of the best kept secrets in banking in the Twin Cities. That’s starting to change, and I look forward to introducing more business owners and key decision makers in the Twin Cities to Merchants Bank,” Piscitiello said.

Visit our website to learn more about business loans, lines of credit and more. Subject to credit approval.

Merchants Financial Group, Inc. Posts First Quarter Earnings Ahead of Plan and Ahead of 2014

Rod Nelson, President/CEO

Rod Nelson, CEO

Merchants Financial Group, Inc. (MFGI) announced first quarter net income of $3,358,297, more than $620,000 ahead of plan and more than $560,000 ahead of 2014, according to Merchants Financial Group, Inc. President & CEO Rodney R. Nelson.

“We think the result bodes well for the remainder of the year,” Nelson said. “We have seen increased mortgage volume and income because of the influence of the low interest rate environment, and our commercial bankers continued their great efforts in establishing relationships that have led to increases in the commercial loan portfolio.”

As a result of the positive performance, the MFGI Board of Directors authorized a semiannual dividend of 50 cents per share to shareholders during its April meeting, the same dividend as paid after the third quarter of 2014. The dividend will be paid June 19 to shareholders of record as of May 15.

The first quarter income comes on the heels of Merchants Bank’s earnings of $12,349,685 in net income in 2014, its second highest total ever. Merchants posted net income of $11,612,049 in 2013 and $12,439,492 in 2012, its record year.

MFGI owns 21 Merchants Bank locations, including Minnesota locations in Winona, St. Charles, Goodview, Rochester, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, and the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. Merchants has Wisconsin locations in Eau Claire and Onalaska. Merchants Bank was founded in 1875 and is celebrating its 140th anniversary this year. All banks are FDIC members and equal housing lenders. Merchants Capital, the company’s leasing arm, is based in the Twin Cities.

Merchants Bank has more than 425 employees, many of whom give significant volunteer time to organizations in their communities. Additionally, during 2014, Merchants Bank made charitable donations to nearly 300 organizations. The ownership of Merchants Financial Group is made up of its employees and mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Merchants Financial Group, Inc. Reports Year to Shareholders and Re-elects Directors

Rod Nelson, President/CEO

Rod Nelson, President/CEO

Merchants Financial Group, Inc. (MFGI) held its annual meeting Thursday, April 9, formally reporting income to shareholders and re-electing four members to the MFGI Board of Directors.

MFGI President & CEO Rodney R. Nelson reported that the organization had an exceptional year, recording $12,349,695 in net income in 2014. It was MFGI’s second best year in terms of income, less than $100,000 behind 2012’s net income of $12,439,492.

“Our shareholders deserve this good news made possible by the positive work of our employees and the continued support of our valued customers,” Nelson said. “We look forward to a successful 2015.”

Re-elected to three-year terms as Directors were: Michael F. Cichanowski, Chief Executive Officer, We-no-nah Canoe, Inc.; Richard J. Pope, Chairman of the Board and Chief Executive Officer, WinCraft, Inc.; Timothy A. Murphy, Partner, Rippe, Hammell & Murphy; and Bruce E. Ryan, President, Ryan Windows & Siding, Inc.

Nelson, Chief Financial Officer Sue Savat, Merchants Bank President and Chief Banking Officer Greg Evans and Chief Information Officer Rodney Nelsestuen were featured speakers.

MFGI has more than $1.5 billion in assets and holds 21 Merchants Bank locations, including Minnesota locations in Winona, Rushford, Lanesboro, St. Charles, Goodview, Rochester, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, and the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. Merchants has Wisconsin locations in Eau Claire and Onalaska. Merchants Bank was founded in 1875. All banks are FDIC members and equal housing lenders. Merchants Capital, the company’s leasing arm, is based in the Twin Cities.

Merchants has more than 425 employees, many of whom give significant volunteer time to organizations in their communities. Additionally, during 2014, Merchants Bank made charitable donations to nearly 300 organizations. The ownership of Merchants Financial Group is made up of its employees and mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Jason Monfre Joins Merchants Bank in Rochester as a Mortgage Lender

WelcomeJason

Jason Monfre has joined Merchants Bank as a mortgage lender, according to Merchants Bank in Rochester President John Doyle.

“Jason’s ability to connect with people and understanding of the mortgage industry will allow him to guide customers to a mortgage that is the right fit for their needs,” Doyle said. “He will be an asset to our organization because our customers will benefit from what he can offer to them.”

With more than 10 years of experience in the mortgage industry in Wisconsin, Nebraska and Minnesota, Monfre said he’s excited to help Rochester area residents with their mortgage needs.

“I couldn’t be happier to be in this position at Merchants Bank, where I can develop strong and lasting relationships and, at the same time, provide customers with a top of the line product that meets their housing and borrowing goals,” Monfre said.

Monfre has a long history of volunteering in the community, especially in mentoring young people in recovery from drug and alcohol addictions, and in coaching youth baseball. Monfre has bachelor’s degrees in both Psychology and Economics from the University of Minnesota. He played Division I baseball at Indiana University and the University of Minnesota.

Strong Performance Continued in 2014

BlogLinkImage-RodNelsonMerchants Financial Group, Inc. (MFGI) continued its history of strong performance with $12,349,685 in net income in 2014, according to Merchants Financial Group, Inc. President & CEO Rodney R. Nelson.

It is MFGI’s second highest year in terms of performance, less than $100,000 behind the record year of 2012, when net income was $12,439,492. MFGI has a history of consistent performance. In 2013, MFGI reported net income of $11,612,049.

“Our performance results from the team effort of our talented staff across all of our locations,” Nelson said. “We are pleased with our earnings, which were more than 15 percent over our plan, and we also anticipate continued growth.”

One of the key drivers in the 2014 performance was continued commercial loan growth, which was up 13.97% over 2013. Credit quality was again very strong. Total loan balances increased to $1,107.0 billion, up from $972.3 million in 2013. Total deposits increased to $1,207.0 billion, up from 1,128.8 billion in 2013. Total equity increased to $131.1 million, up from $116.0 million in 2013. The asset size of the Merchants organization also increased to $1,522.6 billion, up from $1,366.0 billion in 2013.

“We are pleased to share these numbers with our shareholders and customers. The numbers show we are well-positioned for continued success,” Nelson said. “We are especially proud of the long-term relationships our employees have built with our customers, helping those customers reach their business and personal financial goals.”

New Staff Here to Help You

Merchants Bank Staff

At Merchants Bank, we are happy to welcome new employees and celebrate new positions filled by current staff. These frontline employees are all looking forward to serving you. Take a moment to congratulate them

Chad Anderson has joined Merchants Bank as a Business Banker in Winona. Chad has over 14 years of experience in the banking industry and previously worked at Winona National Bank as a Business Banking Officer. He graduated from Winona State University in 2000 with a Bachelor of Science in Finance degree. Chad and his wife, Emily have a 18 month old daughter and reside in Trempealeau. Chad enjoys hunting, fishing, boating, curling and golf.

Alyssa Connolly has joined Merchants Bank as a Teller in Hastings. Alyssa also currently works at the American Legion as a server and was previously at Dominos as the Assistant Manager. Alyssa loves spending time with her beautiful two year old girl.

Holley Fenton has joined Merchants Bank as a Teller in Hastings. Holley previously worked at Crazy 8 as an Assistant Manager and at Treasure Island as a Front Desk Clerk. Holley has four children, a daughter-in-law and one grandson. She also has two horses, two dogs and a cat that they rescued when they lived in Kentucky.

Mary Heise has joined Merchants Bank as a Lead Teller in Rochester. She previously worked at Olmsted National Bank as a Lead Teller and at Sterling State Bank as a Teller. Mary is originally from the area and grew up in Pine Island. She enjoys playing music and spending time outdoors with her pets.

Kevin Finke has joined Merchants Bank as a Business Banker in Winona. Kevin previously worked at Fidelity National Bank as the Vice President of Commercial Lending. He is originally from Maple Lake, MN and graduated from Winona State University with a Bachelor’s degree is Business Administration and an Associates degree in Business Management. Kevin and his wife, April welcomed their first child in July of 2014. He is an avid bow hunter and also enjoys fishing, golf, and spending time with family and friends.

Kim O’Reilly has joined Merchants Bank as a Business Banker in Cannon Falls and Red Wing. Kim previously worked at Associated Bank as a Commercial Relationship Manager and at US Bank as a Commercial Banking Relationship Manager. Kim and her husband, Casey have three boys, Carsyn, Cayden and Jack. Kim and Casey both grew up on a dairy farm and now they own and operate O’Reilly Organic Dairy together. Kim is involved in many volunteer activities, including serving on the United Way Board, being a Red Wing Chamber Ambassador and a Sunday School Teacher.

Jennifer Verrkamp has joined Merchants Bank as a Teller in St. Charles. She previously worked at Endless Journey Child Care as a Teacher’s Assistant and at First National Bank of Bagley as a Teller. Jen grew up in St. Charles, has two sisters and is a twin. She likes to help out on her grandparents’ farm and is planning to have her first garden this spring.

 

Kim O’Reilly Joins Merchants Bank as Vice President and Commercial Lender

KimOReillyWelcome

Kim O’Reilly has joined the Merchants Bank team as a Vice President and Commercial Lender, according to Brian Hokanson, Senior Vice President and Senior Lender for the Cannon Falls region.

A well-known banker through the region, O’Reilly will be working with customers throughout the area and will have offices in both Cannon Falls and Red Wing.

“What makes Kim an exceptional banker is her desire to understand the goals of her customers and then put together a solution that helps the customer realize those goals,” Hokanson said. “She does that for the smallest companies to the biggest with an equal amount of energy and knowledge.”

O’Reilly has been in banking for 19 years, including the past 11 at Associated Bank in Red Wing. She said she’s looking forward to being a part of the Merchants Bank team.

“Merchants has an excellent reputation because it’s committed to its customers.” O’Reilly said. “That’s important to me.  I am committed to my family, our farm, our church and our community, and my customers know that I deliver that same level of commitment to everything I do for them.”

O’Reilly lives in the Red Wing area, where she, her husband, Casey, and their three sons operate an organic dairy farm with 200 head of livestock. She is active in the community as a Red Wing Chamber Ambassador, a member of the United Way of Goodhue, Wabasha and Pierce Counties Board of Directors, and she also teaches Sunday School at the Eidsvold Lutheran Church. She has an undergraduate degree from the University of Wisconsin-River Falls and a Masters’ in Business Administration from the University of St. Thomas.

Contact Kim today: kjoreilly@merchantsbank.com or 507-263-7561.