Ken Graner has been appointed President of Merchants Bank in Rushford and Lanesboro, according to Merchants Bank Charter President Rod Nelson.
Graner will oversee the operations in the new locations. Merchants Bank is scheduled to take over ownership of the new locations from Associated Bank at 5 p.m. November 15.
“I look forward to continuing and building relationships with people in the area,” said Graner, who is a resident of Lanesboro. “We believe that this is a great area for us to grow.”
Before coming to Merchants four years ago, where he has worked in Merchants Bank’s St. Charles location, Graner had worked in Associated Bank’s Lanesboro location, starting there in 1993.
“Certainly, this is a homecoming of sorts for Ken,” Nelson said. “We’re happy for him, and we are especially happy for our soon-to-be customers in Rushford and Lanesboro. Ken has great experience to assist our small business and Ag customers. I believe that Ken’s knowledge, expertise and ability to build long-term relationship will serve those customers well.”
With the addition of Rushford and Lanesboro, Merchants Bank will have 20 locations and $1.348 billion in assets. Merchants has locations in Winona, St. Charles, Goodview, Rochester, Caledonia, La Crescent, Onalaska, Spring Grove, Cannon Falls, Red Wing, Hampton and the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. The “flagship” Merchants Bank in Winona 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 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.