Jennifer Welch, Dawn Stenberg Named 10 Days of Giving Co-Chairs


Jennifer Welch and Dawn Stenberg have again been named co-chairs for Merchants Bank’s 2019 10 Days of Giving food drive, which runs December 1-10. The effort, which benefits food shelf programs operated by Winona Volunteer Services (WVS), will be celebrating its 31st year. To date, more than 3.5 million pounds of food have been collected.

“It is a privilege for Merchants Bank to once again coordinate this effort on behalf of Winona Volunteer Services.  We are thankful for the generosity of the Winona community over the last 30 years in supporting this annual campaign,”said Regional President Andrew Guzzo.

Last year’s campaign featured a variety of events in the Winona community, including fundraising days at local restaurants, the Holiday Lighted Parade, the Holiday Concert for the Hungry and the Canadian Pacific Holiday Train. The campaign raised 254,075 pounds of food for WVS. It was the campaign’s second-highest total in its 30-year history.

“It is a very real need that our friends and neighbors in our community have for the support that WVS provides. It is an honor to be a co-chair for this beneficial campaign and we have an incredible team and community that makes this event a success,” Welch said. Welch is a Treasury Management Specialist as well as the Bank’s Events and Adventures Coordinator. She is serving her sixth year as co-chair.

There continues to be a need in the area. Through the end of 2018, an average number of 751 households were registered for the food shelf at Winona Volunteer Services and more than 3,000 individuals were served. Another 1,132 people were helped at the Emergency food shelf. Last year WVS distributed 499,272 pounds of food. Additionally, 393 elementary students received healthy weekend snacks during the 2018-19 school year.

“I am thrilled to be back again as a co-chair for 10 Days of Giving,” Stenberg said, a Mortgage Lender and in her second year serving as co-chair. “It’s wonderful to see community members come out to support WVS and their mission to help our neighbors in their times of need.”

As in the past, Merchants will be collecting at its locations as well as at schools and participating businesses around the area. For questions, please call Dawn Stenberg at (507) 457-1109 or Jennifer Welch at (507) 457-1108. Monetary donations can be made out to 10 Days of Giving and mailed to, or dropped off at Merchants Bank, 102 E. 3rd Street, Winona, MN 55987. If you would like to make a donation online, visit the Winona Volunteer Services website: Indicate “10 Days of Giving” after entering your name.

The 10 Days of Giving food drive is an annual community collaboration between Merchants Bank and Winona Volunteer Services to make sure no one in Winona County goes hungry each winter. Since 1989, the drive has collected more than 3,000,000 pounds of food and helped thousands of people in Winona County. In addition to the Winona drive, other Merchants Bank locations partner with their respective local food shelf in a similar effort. To learn more about the 10 Days of Giving in your area, visit

Merchants Financial Group, Inc. Announces Earnings of $14,460,000 through Third Quarter of 2019, Pays 75 Cents Per Share Dividend

Greg Evans, President & CEO

Merchants Financial Group, Inc. (MFGI), the parent Company for Merchants Bank, N.A., and the First National Bank of Northfield, announced net income through the third quarter of $14,460,000 according to MFGI President & CEO Gregory M. Evans.

“The community banking profession is one of the most rewarding, especially when we’re able to support our communities and serve local businesses and individuals by being a strong, stable financial institution,” said Evans. “Our strong earnings performance so far in 2019 enables us to do just that.”

As a result of continued profitable performance, the MFGI Board of Directors authorized a semiannual dividend of 75 cents per share to shareholders during its October meeting, a 7.1% increase from the June dividend payment. Dividends will be paid in December to shareholders of record as of November 22.

Net income is ahead of MFGI’s plan for 2019 by $2.64 million and $673,000 above 2018 earnings. Contributing to the overall positive third quarter performance, each of Merchants Bank’s four regions and its Secondary Market Mortgage division exceeded their 2019 third quarter plans. MFGI also made significant strategic progress in the third quarter, including closing on the purchase of the First National Bank of Northfield on August 30.

“A definite highlight of our third quarter was the addition of First National Bank. Our team at Merchants has now been bolstered by an incredible team in Northfield and we’re proud to have them officially under the Merchants umbrella,” said Evans.

Merchants is proud to continue its tradition of community leadership through charitable contributions and employee volunteerism. Through September, MFGI donated to 413 local organizations and its employees have volunteered more than 12,000 hours to local communities.

The ownership of Merchants Financial Group is made up of its nearly 500 employees and its shareholders, mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Merchants Bank is a full service community bank with 19 bank locations in southeastern Minnesota, two bank locations in west-central Wisconsin and a leasing division, Merchants Bank Equipment Finance, in Edina. The acquisition of the First National Bank brought an additional two banking offices in Northfield and a loan production office in Bloomington, MN. Headquartered in Winona, MN, Merchants Financial Group, Inc. now has more than $2 billion in assets. Merchants was founded in 1875. Member FDIC.

Adrian A. Quilling Promoted To Mortgage Lender

Adrian Quilling, Mortgage Lender

Adrian A. Quilling has been promoted to Mortgage Lender at Merchants Bank in Rosemount, according to Michelle Selig, Branch Manager.

“Adrian already has a background in home loans and loves helping our customers, especially during important life stages. His new role as a Mortgage Lender will be a great fit for him and a benefit to those looking to buy or build homes in the Rosemount area,” said Selig.

Quilling has been with Merchants Bank since 2018 when he started as a Customer Service Representative and Lending Assistant. Prior to joining Merchants, he was a Universal Banker at Old National Bank (formerly Anchor Bank) and has experience in personal banking and lending, including deposit accounts, mortgages and personal loans.

“I’m excited to now be a complete financial partner for individuals and families – whether it’s showing them the right tools and accounts to meet personal savings goals or guiding them through the home loan process,” said Quilling.

You can get to know more about Quilling on the Merchants Bank website by visiting

Merchants Bank is a full service community bank with 21 bank locations and one loan production office in southeastern Minnesota and two bank locations in west-central Wisconsin. Headquartered in Winona, MN, the Bank has more than $2 billion in assets and was founded in 1875. Loans are subject to credit approval.