WINONA, Minn. – Merchants Financial Group, Inc. (MFGI) held its annual meeting Thursday, April 3, formally reporting 2013 income to shareholders and re-electing five members to the MFGI Board of Directors.
MFGI President & CEO Rodney R. Nelson reported that the organization is sound and continues to grow, recording $11,612,049 in net income in 2013. It was MFGI’s second best year in terms of income, following net income of $12,439,492 in 2012.
“It is good to share the good news with our shareholders,” Nelson said. “We look forward to continued success in 2014.”
Re-elected to three-year terms as Directors were David H. Keller, retired President Lucas Body Systems, NA, Richard T. Lommen, Jr., Owner/Operator, Courtesy Corporation, McDonald’s, Kenneth J. Mogren, retired President, Winona Agency, Inc., Bruce E. Ryan, Owner, Ryan Windows & Siding, Inc., and Peter W. Woodworth, Chairman, WKM Properties.
Nelson, Chief Financial Officer Sue Savat and Merchants Bank President and Chief Banking Officer Greg Evans were featured speakers.