In Honor of Harvest

eNews-Harvest

Have you ever stopped to think about how farmers impact your day to day life? According to the Environmental Protection Agency, food is more affordable in the United States than in any other developed country in the world thanks to our farmers. Plus, the U.S. farmer is the most productive in the history of the world (1).

Matt Schuldt, Market President

Matt Schuldt, Market President

At Merchants Bank, our Ag lenders support and partner with farmers every day to help create prosperous farming operations. “I like working with farmers because, for one thing, I grew up on a farm. My dad had 50 head of black Angus cattle. Farming is not a simple business, and each and every day I continue to learn from our local farmers,” said Matt Schuldt, Market President for Caledonia and Spring Grove.

In honor of harvest this fall, we’ve collected some amazing facts about the farm industry and farmers in the United States. Did you know?

  • There are 2.1 million farms in existence in the United States (2). Less than 1% of those farms are certified and exempt organic farms (3).
  • The average farm size is 434 acres (4).
  • Only 45% of farmers claim farming as their primary occupation (5).
  • 30% of farms are operated by at least one woman (2).
  • Farmers work an average of 9.91 hours per day on weekdays and 10.24 hours per day on weekends and holidays (6).
  • Minnesota farms rank first in production of green peas, red kidney beans, sugar beets, sweet corn and turkeys, (7) while Wisconsin farms rank first in production of cheese, milk goats, mink pellets, corn, cranberries and snap peas (8).
  • In 2015, the U.S. pork and poultry industries will produce a record 95 million pounds of meat (9).
Brian Hokanson, Ag Lender

Brian Hokanson, Ag Lender

We wish all of our ag customers a successful harvest. According to Brian Hokanson, Ag Lender in Cannon Falls and Red Wing, the harvest outlook is positive so far, “In this region, the start of harvest has been excellent. Yields are coming in better than expected and while prices on commodities, specifically corn and soybean are down, yields are giving everyone a little bit of hope for fall.”

For more information on financing, equipment loans and leases and other opportunities for your farm or business, contact an Ag Loan Officer at your local Merchants Bank.

Loans are subject to credit approval.

1 *www.epa.gov/agriculture/ag101/printeconomics.html
2 *www.agcensus.usda.gov/Publications/2012/Online_Resources/Highlights/Farm_Demographics/
3 *www.agcensus.usda.gov/Newsroom/2015/09_17_2015.php
4 *www.agcensus.usda.gov/Publications/2012/Preliminary_Report/Highlights.pdf
5 *www.epa.gov/agriculture/ag101/demographics.html
6 *www.bls.gov/news.release/pdf/atus.pdf
7 *www.nass.usda.gov/Statistics_by_State/Minnesota/Publications/Rankings/2015%20MN%20Rankings.pdf
8 *www.nass.usda.gov/Statistics_by_State/Wisconsin/Publications/Annual_Statistical_Bulletin/bulletin2014_web.pdf
9 *www.agweb.com/article/7-statistics-farmers-need-to-know-for-2015-NAA-alison-rice/

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Missed the Southeast Minnesota Economic Forum?

Blog-Forum

More than 400 local business leaders gathered on Tuesday, September 29 to engage in a conversation about the future economic outlook for the city of Rochester. As a banking leader in the region with two locations in Rochester and a company with a vested interested in the economic growth of Southeast Minnesota, Merchants Bank was proud to be the pinnacle sponsor of this event.

The Southeast Minnesota Economic Forum featured two keynote speakers, Tim Penny and Steve Loehr, and two panels – including a panel featuring our Chief Financial Officer, Sue Savat – covering topics from business growth opportunities, ag industry insights, workforce challenges, government decisions and regulations, the impact of the Destination Medical Center plan and more.

For specific coverage and takeaways from the Forum, visit the KTTC website.

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Earn Cash Now by Switching to eStatements

Merchants Bank eStatements

Did you know that 4% of identity theft victims report stolen mail as the source which fraudsters use to obtain their personal information?* You can help prevent fraud and earn $5 for each Merchants Bank checking or savings account enrolled in eStatements by the end of this month.

Why should I sign up for eStatements?
eStatements are convenient, notice of when they are ready to view is delivered directly to your email inbox and reduce your risk of fraud by helping you monitor your account activity regularly. Plus, you’ll receive an eStatement up to five days sooner than your paper statement.

Which accounts are eligible to earn $5?
All personal and business checking and savings accounts are eligible to earn $5 for each account enrolled in eStatements (payment automatically deposited into your enrolled account). Customer accounts previously enrolled in eStatements are not eligible for this promotion.

How do I enroll in eStatements?
Current Merchants Online Banking users can go to www.merchantsbank.com and log in to your Online Banking account. From the main menu, click Preferences and then eStatements. Click Edit in the bottom left corner of the screen to change your eStatement settings. There is no charge for enrolling in eStatements.

Not currently enrolled in Online Banking? Visit our website for more information on Merchants Online Banking.

Earn your $5 today by signing up for eStatements. Login to your Online Banking account to get started.

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*https://postalinspectors.uspis.gov/investigations/mailfraud/fraudschemes/mailtheft/identitytheft.aspx

Convenience for Businesses: Deposit-On-Demand Saving You Time and Money

Deposit on Demand

Are you a business owner looking for convenience? Would you like to decrease your number of trips to the bank during the cold winter months? You don’t need to look any further than Merchants Bank and the convenience provided by Deposit-on-Demand.

Merchants Deposit-On-Demand is a cash management tool which allows you to convert paper checks to images, which are transmitted to the Bank for deposit. Using a scanner and software provided by Merchants Bank, you can reduce the time it takes to create a deposit and eliminate the need to drive to the Bank to make your deposit.

How does Deposit-On-Demand work?

  • Paper checks are converted to images and then electronically transmitted to the Bank.
  • Same day availability cut-off times will be extended to 6:00 pm (CST).
  • Businesses can access images of checks deposited at their own computer for up to 7 years after contracting with the service.
  • Faster deposit creation and character amount and legal amount recognition to reduce hand keying or using remittance advices to automate receivables posting.

You are a perfect candidate for implementing Deposit-On-Demand if:

  • Your business doesn’t deal with a lot of cash
  • Your business is geographically challenged! (Not located near a Merchants Bank branch.)
  • Your business has few personnel available to take deposits to the Bank
  • Your business receives checks throughout the day and would like to get multiple deposits to the Bank without making multiple trips to the Bank.
  • You want to save money on service charges associated with deposited items.
  • Your business has higher receivable volume and wants to take advantage of today’s technology and add efficiency to the deposit and posting process.

Please Contact Us to learn how Merchants cash management can help your business. Or, give us a call at (800) 944-6285 to speak with one of our Cash Management Specialists.

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Congratulate New Staff

At Merchants Bank, we are happy to welcome new employees and celebrate new positions filled by current staff. These frontline employees are all looking forward to serving you. Take a moment to congratulate them.

Rebekah Hicks

Rebekah Hicks has joined Merchants Bank as an Electronic Banking Representative in Winona. Rebekah recently relocated with her family from Kansas City to the Winona area. She previously worked in banking for several years in Kansas City. Rebekah is excited to be part of the Merchants team.

 

 

Rachel Von Arx

Rachel Von Arx has joined Merchants Bank as a Teller in Caledonia. Rachel previously was a personal nanny and also worked as a Book Processor at E.F. Library Services. Rachel is the youngest of four siblings and has lived in Caledonia for the majority of her life. She graduated from Caledonia High School and Ripon College with a double major in English and Studio Art. Art and writing continue to be two of Rachel’s greatest passions.

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October Events: Please Join Us!

Merchants Bank, Community Events

Be sure to follow us on our Facebook page for information on these events or pictures from other events you may have missed.

10/9 Bomber Spirit Night
5:00-6:30 p.m.
At John Burch Park in Cannon Falls

The Cannon Falls Education Foundation invites you to Bomber Spirit Night. Enjoy a spirit night event prior to the football game vs. the La Crescent Lancers. Food, games, and more!

10/20 Eau Claire Business Expo
11:30 a.m. – 3:30 p.m.
At the
Eau Claire Indoor Sports Center

Stop by and visit our friendly staff at our booth. Admission to the Expo is $5 per person.

10/20 Red Wing Business Expo
4:00 p.m. – 6:30 p.m.
At the
St. James Hotel

Stop by and visit our friendly staff at our booth.

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