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.

Manage Your Business’s Money with These Helpful Tools

ModernFinancesWould you like to better manage your businesses money and make it work harder. With three areas of focus – Tools for Collection, Tools for Disbursement and Tools for Management – Merchants Bank’s Cash Management area – what some banks call Treasury Management – is worth exploring.

Learn more about Tools for Management:

Online Banking – Conveniently view account balances, check images and transactions, transfer funds between your Merchants Bank accounts, create Bill Payments and ACH transactions (subject to Agreements), submit requests for Stop Payments and more.

Positive Pay – Give yourself peace of mind. Positive Pay can help detect fraudulent checks that are being issued on your account.

ACH Blocks and Filters – Control your accounts by ensuring your business checking account isn’t used for unauthorized ACH transactions.

Financial Electronic Data Interchange (FEDI) Reporting – The computerized exchange of payments between your business, your customers and vendors ensures

For more information on Cash Management services, visit our website.

Chad Anderson Has Joined Merchants Bank as Vice President and Business Banker

Chad Anderson, Business BankerChad Anderson has joined the team at Merchants Bank as Vice President and Business Banker, according to Randy Domeyer, Senior Vice President and Business Banking Department Manager.

“We are excited Chad has decided to join our team,” Domeyer said. “He’s an experienced and knowledgeable banker who is well known and has strong relationships in our market. We are sure he will enhance what we have to offer business customers throughout the area.”

Before joining Merchants Bank, Anderson had been employed at Winona National Bank the past 12 years as a business banker. He has experience in all areas of business lending, including commercial, residential, real estate, equipment loans and SBA (Small Business Administration) lending.

“This is a good opportunity for me to build and enhance relationships in the area business community as a member of the Merchants Bank team,” Anderson said. “I look forward to contributing to the growth of the bank and representing Merchants in the community.”

Anderson is a native of the area and is active in community organizations, including currently serving on the boards of the Winona ORC and the Winona Area Chamber of Commerce.

Contact Chad for your business banking needs today: 507-457-1196 or cjanderson@merchantsbank.com.

Five Ways to Make Payments for Your Business Easy with Tools for Disbursement

SmallBusinessOwnerOpenSignWould you like to better manage your businesses money and make it work harder. With three areas of focus – Tools for Collection, Tools for Disbursement and Tools for Management – Merchants Bank’s Cash Management area – what some banks call Treasury Management – is worth exploring.

Learn more about Tools for Disbursement:

Direct Deposit – Save time and add convenience by electronically depositing employees’ net payroll into their bank account. Subject to credit approval.

Bill Payment – Using Merchants Online Banking, pay vendors without having to write checks, saving time, postage and resources.

Sweep Accounts – Conveniently do the cash management that you want to do without having to manually request transfers between accounts. Sweeps can also be used to transfer money to or from a Line of Credit to reduce interest expense.

Target Balance Accounts – Better control your cash flow and service charge expense by designating a balance at which you would like a specific account balance to be maintained.

Wire Transfers– Wire transfers allow you to send or receive money from almost anywhere in the world. Funds are collected and available immediately upon receipt.

For more information on Cash Management services, visit our website.

Collect Payments for Your Business with our Tools for Collection

Digital Image by Sean Locke Digital Planet Design www.digitalplanetdesign.comWould you like to better manage your businesses money and make it work harder. With three areas of focus – Tools for Collection, Tools for Disbursement and Tools for Management – Merchants Bank’s Cash Management area – what some banks call Treasury Management – is worth exploring.

Learn more about Tools for Collection:

Credit Card Processing – Make it easier for your customers to shop with more payment options when you accept Visa, MasterCard or Discover debit, credit and gift cards in person, through your website or via mobile. Subject to credit approval.

Direct Debit – Use Direct Debit to collect funds from your customers. A customer payments is automatically withdrawn from the customer account at the beginning of the bank business on the day authorized and then deposited into your account. Subject to credit approval.

Cash Concentration – Using Merchants Bank Online Banking, you can bring cash from multiple accounts and other banks together into a central account so you can better manage it and put it to work for you. Subject to credit approval.

Deposit-On-Demand – Reduce your time running to the bank by converting paper checks into an image and transmitting the images to the Bank for deposit from the comfort of your office.

For more information on Cash Management services, visit our website.

Commercial, Ag and SBA Lending Trends

The economy continues to improve. One indicator we look at in banking is the increase in our lending portfolio.

GraphOur lending portfolio continues to grow at Merchants Bank.

  • Overall our lending portfolio has increased 15.7% through the first three quarter of 2014 compared to the first three quarters of 2013, where we had a very strong year compared to many other financial institutions.
  • Commercial lending increased 16.3% across all of our locations.
  • Ag lending has increased 12.9% and SBA lending has increased 16.3%.

The increase shows our expertise in and commitment to growing these important segments to help make the places we live better.

Contact a Business Banker today to learn more about business financing and leasing options at Merchants Bank. Subject to credit approval.

How Can Your Business Prevent Credit Card Fraud?

ManWithCreditCardStaggering, sobering, scary. Those are just a few of the words that come to mind when you think about credit card fraud. Think of this, 97 percent of all companies suffer a data breach, according to a story CBS News’ “60 minutes” aired on November 30, 2014. So what can a company do? Most companies are doing all that they can. Still, it takes an average of 229 days from the time of the breach before it is discovered, according to the “60 Minutes” story. When a breach happens, a company tries to detect the breach as soon as it can and stop the bleeding as quickly as possible.

How can your company be protected? It really comes down to the company’s customers. There are a lot of tips that can be used. Here are just a few:

  • Keep information private and avoid sharing your information with other individuals.
  • Continually monitor accounts, including credit card and account statements.
  • Be skeptical. Question if things are what they seem. Hover over links to see where they lead. Verify email requests from companies.
  • Create strong passwords that are hard for others to detect and decipher and use passwords to protect your devices. (More information here on making a strong password.)
  • Ignore emails from senders you don’t know.