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

ZwiefelhoferJeff

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.”

WoodworthsForEN

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.

Merchants Bank’s Jeff Carter Graduates from Graduate School of Banking in Colorado

CarterJeff

Jeff Carter

BOULDER, COLO. – Jeff Carter, Vice President and Business Banker at Merchants Bank in Cottage Grove, recently graduated from the Graduate School of Banking at Colorado (GSBC), a 25-month banking school which provides senior management and leadership education for community-banking professionals. Carter was among 164 graduates of the 63rd Annual School Session, hosted July 14-26 on the campus of the University of Colorado in Boulder, Colo.

GSBC students are recognized by their bank’s executive team as rising stars in their organizations, and as graduates, often continue to become leaders in their respective organizations.

“Completing the coursework and projects associated with the Graduate School of Banking at Colorado is a great accomplishment for community bankers around the country,” said GSBC President Tim Koch.

Graduates receive a diploma upon successfully completing six weeks of classroom training which focuses on the areas of general management, lending, leadership and human-resource management and financial management. Requirements for graduation also include comprehensive examinations, intercessions research projects and participation in a bank-management simulation course designed to provide the student with experience managing a bank.

Merchants Bank Business Bankers Complete Training that Promotes Greater Flexibility in Making Loan Decisions

HarrisonCindyWINONA, Minn. – Business bankers throughout the entire Merchants Bank organization completed online training and an intensive three-day workshop designed as a comprehensive analysis process on extending credit to small business borrowers.

“Omega training allows our bankers to better understand the credit needs of small business borrowers and better serve them,” said Senior Vice President and Credit Administration Manager Cindy Harrison.

The Omega Training program teaches bankers to better consider the business and related personal factors that impact creditworthiness and the ability to repay.

“Specifically as it relates to small business, the training helps us to consider other factors than just the balance sheet when it comes to making a loan,” Harrison said. “This makes the loan experience more personal for the customer and the banker, and that’s what community banking is all about.”

Merchants stock is closely held, but is available to the public when shares become available. There are approximately 400 shareholders, mostly individuals and families from southeastern Minnesota and west-central Wisconsin. Merchants also has an Employee Stock Ownership Program (ESOP).

Read about this and other news at Merchants by visiting our website.