Merchants Bank Advisory Board of Directors Reappointed


Dan Massett, Central Region President

The Merchants Bank Advisory Board of Directors for Cannon Falls, Red Wing and Hampton has been reappointed, according to Central Region President Dan Massett.

Reappointed to their positions on the Advisory Board were Board Chairman John O. Althoff, Retired Owner Althoff Hardware; Leslie M. Anderson, Farmer and Real Estate Agent Edina Realty; Donna R. Anderst, President and Chief Executive Officer SCS Elevator Products, Inc.; Richard A. Peterson, Owner Peterson Turkey Hatchery, Inc.; and Gary Schmidgall, Project Coordinator Hancock Concrete Products, LLC. The Advisory Board was reappointed at an April 18 meeting of the Merchants Bank Charter Board.

Massett said the Advisory Board was initially put in place after Merchants acquired the Cannon Falls and Red Wing locations 10 years ago and has been critical in the success of Merchants Bank in the Region.

“The people on our Board have provided exceptional direction and guidance in helping us to identify businesses that may be the best fit for our community bank,” Massett said. “They are always looking to make the communities we serve better places for business and better places to live. I am thankful for all they’ve done for their neighbors and for Merchants Bank, and I look forward to their continued input as we continue to grow.”

Merchants Bank has 21 locations in Minnesota and Wisconsin. In addition to Cannon Falls, Red Wing and Hampton, Merchants has Minnesota locations in Winona, St. Charles, Goodview, Rochester, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount.  Merchants has Wisconsin locations in Eau Claire and Onalaska. All banks are FDIC members and equal housing lenders. Additionally, MFGI also owns Twin Cities-based Merchants Bank Equipment Finance, a division of Merchants Bank, N.A.