Free Seminar: Year-End Tax Update

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Learn how to prepare for your year-end taxes by joining us for this FREE business session featuring speakers from JRM and Associates. Session will be held on Thursday, December 4 from 7:30 -9:30 a.m. at Stoney Creek Inn (3060 S Kinney Coulee Rd, Onalaska, Wisconsin).

Topics Covered:

  • Tax Credits and Other Services from the Wisconsin Economic Development Corporation
  • New Tax Provisions related to the Affordable Care Act
  • Tax Law Changes and Updates
  • Tax Strategies to Implement Before Year-End

Session includes breakfast.

RSVPs are appreciated for planning purposes:
Becky Herrmann
blherrmann@merchantsbank.com or 608-779-8268

Tricia Barnes
tricia@jrmcpa.biz or 608-781-8712

Retreat Away for a Good Time

Have you ever wanted to have a family gathering but didn’t have a space big enough to host everyone that you wanted to invite? How about being able to quilt or scrapbook with a large group of friends but never had the space to use your creativity to the max? Well don’t fret; you can do all of this at Glad Gatherings.

Glad Gatherings, which opened November 2013, is a retreat house in Spring Valley, Minnesota, that is perfect for crafters but can be rented out for any occasion. “It is the perfect space for bridal showers, baby showers, graduations, weekend getaways, girls’ weekend, and much more,” said Co-Owners Denise Erichsen and Jenny Gurenwald.

According to co-owner Alissa Gibson, “It sleeps 12 people comfortably and has a dedicated craft space which comfortably accommodates 12 people plus their craft supplies.”

Denise Erichsen with her sister, Dolores Bierbaum, niece, Jenny Gruenwald, daughter, Alissa Gibson, are all co-owners of Glad Gatherings.

What started off as a special family occasion for the owners and their family is now a successful retreat away for families or big groups that are looking to be crafty or looking for a big enough space to fit all of their guests. The girls would get together a couple times a year to quilt or scrapbook and had done so in many other retreat houses. “We just really loved the memories we were making and we thought it would be really fun to find a place we could do our crafts that was big enough for all of our nieces and daughters. It is something really special that we wanted to share with everyone.” Erichsen said.

When it came to relying on a lender to help with getting Glad Gatherings started, Levi Livingood from the Merchants Bank Rochester, Northwest Plaza, location was an easy choice and is highly recommended by the owners. “He has been so helpful every step of the way,” stated Erichsen.

“He is fantastic, answers my emails right away, and has been here to visit us in Spring Valley multiple times already. Merchants Bank is great to work with because they make you feel warm and welcome. We would highly recommend any start up business to work with Merchants Bank. They really help make what may seem like work, easy.”

 

Loans are subject to credit approval.

Greg Borcherding Joins Merchants

BorcherdingGregGreg Borcherding has joined Merchants Bank as Business Banker/Vice President according to Randy Domeyer, Senior Lender and Business Banking Manager.

“Greg is a valuable addition and brings more than 20 years of business lending experience to our team. His familiarity with this region will be an asset to area businesses,” said Domeyer.

Most recently, Borcherding worked with Citizens State Bank in La Crosse and has also spent time in the Wisconsin Dells market. Borcherding has small business and business start-up experience. He is looking forward to contributing to the Winona community.

“I enjoy being involved in the community and appreciate Merchants’ strong partnerships in many Winona community efforts,” Borcherding said.

A native of Platteville, Borcherding is a graduate of the University of Wisconsin-Platteville. Additionally, Borcherding is a member of the Lake Delton Lions and the finance committee for the Children’s Museum of La Crosse.

Randy Domeyer Promoted

Randy Domeyer

Randy Domeyer

Randy Domeyer will succeed Dave Grewe as Manager for the Business Banking Department in Winona and as Senior Lending Officer for the Winona Region, according to Merchants Bank President & Chief Banking Officer Greg Evans.

“We are extremely fortunate to have someone with Randy’s experience poised to carry on the commitment to excellence that Dave has demonstrated in that capacity for the past several years,” Evans said.

Domeyer joined Merchants in 2008, returning to Winona. Domeyer spent the first 20 years of his banking career with Norwest Bank and then Wells Fargo. He left in 2000 to become the President of Wells Fargo in Blue Earth and later transferred to become Wells Fargo’s Business Banking Manager in Faribault.  From 2005-2008, Domeyer was Chief Credit Officer for Roundbank in Waseca.

Grewe has led the Business Banking Department for the past five years. He has been with Merchants two times, first from the mid-1970s to the mid-1980s, and then again beginning in 2002. He has also worked in the La Crosse market with First Bank and State Bank.

Both Domeyer and Grewe have been exceptionally active in community activities. Domeyer is actively involved in the Winona Rotary Club, Winona County Chapter for the American Red Cross, and the Winona Area Chamber of Commerce Economic Development Committee. Grewe has been a member of the Winona Chamber of Commerce, a Chamber Ambassador, a long-time member of the Winona Jaycees, and a past Winter Carnival Chairman. He has been very involved in Steamboat Days, serving as President in 2006. Currently he is president of Westfield Golf Club and serves on both the Latsch Board and CEDA (Community Economic Development Association) Board.

Grewe, who will retire June 30, has already started transitioning his management responsibilities for oversight of the lending functions to Domeyer. Grewe will also work with members of the business banking team in Winona to make sure the needs of all customers are met.

Jeff Zwiefelhofer Joins Merchants Bank as a Business Lender

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Jeff Zwiefelhofer

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.

Good for the Community…

When Pete Woodworth’s grandfather’s plane landed in Winona on a Sunday in 1943 at the then municipal airport, Walker Woodworth was met by three people, including Winona’s mayor, and the President of Merchants National Bank, J.R. Chappel.

By the time Woodworth left Winona the next day, Winona had a new business, the Winona Knitting Mills, and Merchants Bank had started a long-term relationship with the Woodworth family.

The relationship has grown. Walker’s son and Pete’s father, Les, was on the Merchants Bank Board of Directors for more than 20 years, and Pete has been a member of the Merchants Bank Board of Directors and the Merchants Financial Group Board of Directors since 1988.

By the Fall of 1943, the Winona Knitting Mills was up and running, and it ran for 57 years in the same location at 902 E. 2nd Street, expanding along the way. The building went from three stories and 8,000 square feet to more than six buildings and 175,000 square feet. By 1995 the company had grown to be the third largest men’s sweater manufacturer in the United States.

By late 1995, the Winona Knitting Mills merged with Hampshire Group Limited, the largest woman’s sweater manufacturer in the USA, and by 2002, Pete and his wife Joyce, had sold their interests, but there still was the issue of what to do with the property. Pete and Joyce converted the property into a professional business campus.

“We took the chance and developed it into a community resource,” Pete said.

The campus, which includes the main building that Walker first purchased, a warehouse, and four satellite buildings on eight acres, now has more than 40 tenants. The tenants are varied. The terms given the businesses are as varied as the types of businesses themselves, including graduated rates over time and phased in rental payments.

“We’re trying to make it easier for them to get up and running so the businesses are viable for the long-term,” Pete said. “It’s pragmatic. It’s good for them. It’s good for our family. It’s good for the community, and it’s good for Merchants Bank because many of these businesses are borrowing from the bank, and we’re borrowing from the bank.”

In 2004, Pete and Joyce gave WKM Properties to their children Nathan, Jacob and Lindsay. In 2009 Nathan took over running the business, which also includes a 7000 square foot building in downtown Winona, a 10,000 square foot building in Goodview and a 40,000 square foot building in Rochester.

“I’ve always liked tweaking and strengthening things, and this has been very satisfying,” Pete said. “We thought of it as planting something that would grow, something we could pass on to benefit Merchants Bank, the community and our family.”

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Small Business Administration

SBARefreshENA Business Banker from Merchants Bank will provide specialized support for your specific business financing request. Our numerous business loan program options are designed to meet the specific needs of your business, from a business line of credit to fleet financing.

We are a SBA Preferred Lender, which means we can help qualified applicants right when they need us. We’ll listen and help you with the business loan you need. It’s that simple. Contact a Business Banker today to schedule a free, no obligation review of your business. Work with someone who cares about your business as much as you do. At Merchants Bank, we care about you and what’s right for your business. Loans are subject to credit approval.