CALEDONIA/SPRING GROVE, Minn. – Caledonia native Matthew Schuldt has been appointed Market President for Merchants Bank in Caledonia and Spring Grove, according to Merchants Bank’s Southern Region President Jay Friedl.
Schuldt served as Interim President of First Community Bank in Lester Prairie, Minn., and also worked in other roles at the bank, including Vice President of Lending, working with consumer, agriculture and commercial lending customers.
“Matt’s experience will serve our Caledonia and Spring Grove customers very well as he helps them find the solution that is best for their individual needs,” Friedl said.
In addition to his experience at First Community Bank, Schuldt also spent eight years working with Eide Bailly, a public accounting and business advisory firm. He also volunteers as a youth wrestling coach.
“I’m excited to be a part of an organization so well thought of by community bankers throughout the state. Certainly, Merchants has the resources that make it possible to finance almost any sort of loan, but the strength of the organization is how it treats each customer like that person is the Bank’s only customer,” Schuldt said.
Schuldt started his new position in Caledonia and Spring Grove on February 24.
As seen in the Winona Post
On February 11, the Project FINE Board of Directors hosted its “Annual Report to the Community” at the Saint Mary’s University Toner Center. This event is a celebration of the organization’s activities and accomplishments during the previous year and a time to thank the many partners, stakeholders, staff and volunteers who help Project FINE make a positive impact in our community.
Each year, Project FINE recognizes an exceptional partner with the Partners Award. For 2013, we are pleased to honor Merchants Bank with this award.
Pictured are Fatima Said, Project FINE Executive Director; Rod Nelson, Merchants Bank President and CEO; and Dr. Connie J. Gores, Project FINE 2013 Board President.
Merchants Bank has been an exceptional partner to Project FINE for many years. In 2013, they completed an organizational diversity assessment and collaborated with Project FINE to provide diversity training for bank staff. Merchants Bank also offered a series of banking education sessions for refugees and immigrants on home ownership and refinancing and they continue their commitment to serving diverse populations by providing interpreters for their non-English speaking bank clients. As a result of this education and outreach, four newcomer families purchased a home through Merchants Bank in 2013 and countless others opened accounts.
Project FINE would like to thank the leadership and staff at Merchants Bank for their commitment to creating an inclusive environment and meeting the banking needs of newcomers in our community. We are proud to partner with Merchants Bank and over 60 other community businesses, organizations and service providers to build a respectful and sensitive community.
Merchants Bank has taken ownership of the deposit accounts, loans and the physical location of the Alliance Bank office at 2728 Mall Drive in Eau Claire, as well as the loans and deposits of Alliance Bank’s Pinnacle Way location, according to Merchants Financial Group, Inc., President & CEO Rodney R. Nelson
“We look forward to exceeding the expectations of our new customers, and we look forward to showing the Chippewa Valley our commitment to the communities we serve,” Nelson said. “We are excited to be a part of this vibrant area.”
The sale was completed earlier today, and Merchants Bank will be ready to open its doors at 9 a.m. Saturday at the Mall Drive location. Long-time financial services leader Mark Willer has been named Market President and many of the Alliance staff have been retained.
“We recognize that Merchants Bank is new to the area, but we aren’t new to banking. Our philosophy is to be customer-centric, and we believe the best employees to serve the needs of our customers are people that they know,” Nelson said.
Merchants Bank acquired approximately $48 million in deposits and $17 million in loans from Alliance. Terms of the sale have not been disclosed.