Merchants Financial Group, Inc. (MFGI) reported net income of $6,335,210 for the first six months of the year. The income is both ahead of plan and ahead of last year’s income of $6,104,872 for the first half of the year, according to MFGI President & CEO Rod Nelson.
Nelson pointed out that MFGI has continued its focus on credit quality and has experienced significant loan growth. Mortgage activity, while not at the levels of the past several years, also contributed positively to growth.
“Our growth was excellent across our entire organization. All of our regions finished the first half of the year above plan,” Nelson said. “I believe it is a direct result of the service-oriented approach that all of our employees embrace when interacting with our customers and co-workers.”
Nelson said that as he looks forward to the remainder of the year, he expects continued strong performance, including achieving planned income for the last six months of the year.