Merchants Bank Establishes Rochester Advisory Board of Directors

Rochester Advisory Board

Pictured (l-r): Bruce Ryan (Board Chairman), Ryan Windows & Siding; John Beatty, Dunlap & Seeger, P.A.; James Rogers, Mayo Clinic; Melissa Brinkman, Custom Alarm; Aaron Benike, Alvin E. Benike, Inc.

As Merchants Bank continues to grow in Rochester, Merchants has established a Rochester Advisory Board of Directors, according to Advisory Board Chairman Bruce E. Ryan.

“Merchants Bank has continued its growth throughout the area and in Rochester, partly because of our model of local decision making in each market,” said Ryan, who also serves on the Merchants Financial Group, Inc. (MFGI) Board. MFGI is the holding company that owns Merchants Bank. “As we continue to grow our market share, putting our local Advisory Board in place in Rochester is the next logical step.”

Ryan, President of Ryan Windows & Siding, Inc., has been joined on the Advisory Board by John Beatty, an Attorney at Dunlap & Seeger, Aaron Benike, President and Co-Owner at Benike Construction, Melissa Brinkman, CEO of Custom Alarm, and James Rogers, Chair, Department of Business Development at Mayo Clinic.

“We are fortunate to have this talented group of leaders helping to guide our decisions in Rochester,” said Merchants Bank – Rochester President John Doyle. “They believe in Rochester’s growth potential and know that Merchants Bank has the resources and staff to help individuals and businesses reach and exceed their goals.”

MFGI President and CEO Greg Evans said the Merchants Bank culture is one of the reasons the Advisory Board members chose Merchants.

“It is important to all of our team members to know our customers by name, and to make sure those customers are truly satisfied with their experiences with Merchants Bank,” Evans said. “Our team members spend time volunteering in the community to make it better. That is part of what makes a community bank like ours important to the people we serve. As people who have exhibited a commitment to improving Rochester, I think that is important to our Advisory Board.”

MFGI recently announced its second year in a row of record earnings, with Rochester again being one of the top performers. The Board and Advisory Board leadership structure is well-established in the Merchants culture and has contributed to the growth of the organization.

MFGI owns 21 Merchants Bank locations, including Minnesota locations in Rochester, Winona, St. Charles, Goodview, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, and the southern Twin Cities metropolitan suburbs of 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.

Merchants Announces Record Earnings of $14,154,891 in 2016

NelsonRod

Rod Nelson, President/CEO

Preliminary net income numbers show that for the second consecutive year Merchants Financial Group, Inc. (MFGI) has realized record earnings with $14,154,891 in 2016, according to MFGI President & CEO Rodney R. Nelson. The numbers are subject to final audit.

This year’s earnings surpassed last year’s record of $13,454,698. Nelson noted that 2016 also saw two dividend increases for shareholders, going from 53 cents to 55 cents per share in the Spring, and 55 cents to 56 cents per share in the Fall. MFGI share price started the year at $42.75 and was $54.40 at year-end.

“Our employees provided exceptional service and guidance to our customers to help them achieve their financial goals, and through doing that drove our income in the areas of mortgage activity, loan growth and credit card income,” said Nelson, who is retiring Tuesday, January 31, after 17 years with the Merchants organization.

Nelson noted that total loan growth was 7.2% over 2015. Deposits increased by 9.1% and MFGI’s capital grew from $139 million at year end 2015 to $150.1 million at year end 2016, an 8% increase. Total assets ended the year at $1.623 billion.

Nelson said five locations –Winona, Onalaska, Rochester, Lakeville and Hastings –and the company’s leasing division, Merchants Bank Equipment Finance, topped $1 million in earnings.

“We believe that our focus on community banking and the power our local leaders have to make decisions, along with the lending capabilities that come with a bank of our size, make us unique in our industry and the best choice for individuals and businesses across our region,” Nelson said.

Greg Evans, who has been with the organization 28 years and is currently Chief Banking Officer, will succeed Nelson as MFGI President & CEO.

MFGI owns 21 Merchants Bank locations, including Minnesota locations in Winona, St. Charles, Goodview, Rochester, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, and the southern Twin Cities metropolitan suburbs of 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.

The ownership of Merchants Financial Group is made up of its more than 440 employees and its shareholders, mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

All in One Accounting Founder & CEO Heide Olson Named to the Merchants Bank Twin Cities Advisory Board of Directors

heide olson

Heide Olson, All in One Accounting Founder & CEO

All in One Accounting Founder & CEO Heide Olson has been named to the Merchants Bank Twin Cities Advisory Board of Directors, according to Lawrence Stovern, Regional President for Merchants Bank in the Twin Cities.

“Heide is well known and respected throughout the area both as a successful entrepreneur and a trusted advisor to many, many successful companies,”Stovern said. “We are excited to have a person with her history of building relationships and insight  providing guidance to our Board.”

Olson, a CPA, started All in One Accounting, Inc. in 2004. The company offers an unrivaled method to customized documented accounting solutions to fill short-term to longer-term needs. The company’s unique business model provides specialized help ranging from a bookkeeper to a Chief Financial Officer. The company was named one of the 100 Minnesota businesses to work for in 2015 and 2016 by Minnesota Business Magazine.

“I respect Merchants Bank’s unique community banking model because it puts such great emphasis on building relationships and exceeding the needs of clients. We do the same in our business,”Olson said. “That is one reason I’m proud to formalize my commitment and join the Board.”

Olson has an impressive history of community involvement. She is the former finance chair of the Minnesota Chapter of the National Association of Women Business Owners (NAWBO). She also served on the Board of the Los Cabos Children’s Foundation, which helps children in need of pediatric care in the Los Cabos region of Mexico.

Olson is a native of Granite Falls and a graduate of St. Thomas. She and her husband, Tarryl, have four children and live in Eagan.

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

Merchants Financial Group, Inc. Re-elects Directors and Formally Reports Record Year to Shareholders

CameraZOOM-20160407160521144During its annual meeting Thursday, the shareholders of Merchants Financial Group, Inc. (MFGI) re-elected four members to the MFGI Board of Directors and heard about the organization’s record year.

Re-elected to three-year terms as Directors were: Scott K. Biesanz, Chairman of the Board, Goodson Manufacturing Company; Michael D. Cunningham, Retired President, Realwood Stores, Inc./Board Store Home Improvement, Inc.; Rodney R. Nelson, President & Chief Executive Officer of Merchants Financial Group Inc.; and James A. Trenda, CPA, President, CP Advisors, LLC. Biesanz is the MFGI Board Chair. Also recognized was MFGI Director Peter W. Woodworth, who retired from the Board after 29 years.

“One of the reasons we’ve enjoyed exceptional growth is the experience and the skill set our Board of Directors bring to the table. They know what it is to be successful and provide us the guidance and leadership we need to move ahead as a community banking organization focused on meeting the needs of our customers,”Nelson said.

During the meeting, Nelson formally reported MFGI’s 2015 record year of $13,454,698 in net income, surpassing the previous record in 2012 by more than $1 million. Nelson reported loan growth of 12.1% over 2014. Deposits increased by 2.6% and MFGI’s capital grew from $131.2 million at year end 2014 to $139 million at year end 2015, a 5.9% increase. Total assets ended the year at $1,589,202,831.

“This success is certainly a reason to celebrate and also stands as a goal for all of our employees to work to surpass in the future,”Nelson said. “We promise to continue our individual and collective efforts to make sure the people we serve are truly pleased with the products and service we provide them.”

Nelson, Chief Financial Officer Sue Savat, and Merchants Bank Equipment Finance President Brad Brolsma were featured speakers during the meeting.

Merchants Financial Group, Inc. Posts Second Quarter Earnings Ahead of Plan

Rod Nelson, President/CEO

Rod Nelson, President/CEO

Merchants Financial Group, Inc. (MFGI) posted earnings of $6,275,265 through the first half of 2015, more than $960,000 ahead of its plan, according to Merchants Financial Group, Inc. President & CEO Rodney R. Nelson.

“It’s again been a team effort and a team accomplishment,” Nelson said. “Specifically, the performance was driven by good commercial loan volume, mortgage loans that exceeded our expectations and continued excellence in credit quality.”

Nelson noted that the banking industry continues to evolve, and the Merchants Bank organization is continuing to enhance what it offers, especially in the areas of bank security and e-channel delivery, to ensure customer expectations are being met.

“As I look forward to the remainder of the year, I am anticipating we will continue to meet and exceed our goals,” Nelson said.

MFGI owns 21 Merchants Bank locations, including Minnesota locations in Winona, St. Charles, Goodview, Rochester, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, and the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. Merchants has Wisconsin locations in Eau Claire and Onalaska. Merchants Bank was founded in 1875 and is celebrating its 140th anniversary this year. All banks are FDIC members and equal housing lenders. Merchants Capital, the company’s leasing arm, is based in the Twin Cities.

Merchants Bank has more than 440 employees, many of whom give significant volunteer time to organizations in their communities. Additionally, during 2014, Merchants Bank made charitable donations to nearly 300 organizations. The ownership of Merchants Financial Group is made up of its employees and mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Merchants Financial Group, Inc. Posts First Quarter Earnings Ahead of Plan and Ahead of 2014

Rod Nelson, President/CEO

Rod Nelson, CEO

Merchants Financial Group, Inc. (MFGI) announced first quarter net income of $3,358,297, more than $620,000 ahead of plan and more than $560,000 ahead of 2014, according to Merchants Financial Group, Inc. President & CEO Rodney R. Nelson.

“We think the result bodes well for the remainder of the year,” Nelson said. “We have seen increased mortgage volume and income because of the influence of the low interest rate environment, and our commercial bankers continued their great efforts in establishing relationships that have led to increases in the commercial loan portfolio.”

As a result of the positive performance, the MFGI Board of Directors authorized a semiannual dividend of 50 cents per share to shareholders during its April meeting, the same dividend as paid after the third quarter of 2014. The dividend will be paid June 19 to shareholders of record as of May 15.

The first quarter income comes on the heels of Merchants Bank’s earnings of $12,349,685 in net income in 2014, its second highest total ever. Merchants posted net income of $11,612,049 in 2013 and $12,439,492 in 2012, its record year.

MFGI owns 21 Merchants Bank locations, including Minnesota locations in Winona, St. Charles, Goodview, Rochester, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, and the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. Merchants has Wisconsin locations in Eau Claire and Onalaska. Merchants Bank was founded in 1875 and is celebrating its 140th anniversary this year. All banks are FDIC members and equal housing lenders. Merchants Capital, the company’s leasing arm, is based in the Twin Cities.

Merchants Bank has more than 425 employees, many of whom give significant volunteer time to organizations in their communities. Additionally, during 2014, Merchants Bank made charitable donations to nearly 300 organizations. The ownership of Merchants Financial Group is made up of its employees and mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Merchants Financial Group, Inc. Reports Year to Shareholders and Re-elects Directors

Rod Nelson, President/CEO

Rod Nelson, President/CEO

Merchants Financial Group, Inc. (MFGI) held its annual meeting Thursday, April 9, formally reporting income to shareholders and re-electing four members to the MFGI Board of Directors.

MFGI President & CEO Rodney R. Nelson reported that the organization had an exceptional year, recording $12,349,695 in net income in 2014. It was MFGI’s second best year in terms of income, less than $100,000 behind 2012’s net income of $12,439,492.

“Our shareholders deserve this good news made possible by the positive work of our employees and the continued support of our valued customers,” Nelson said. “We look forward to a successful 2015.”

Re-elected to three-year terms as Directors were: Michael F. Cichanowski, Chief Executive Officer, We-no-nah Canoe, Inc.; Richard J. Pope, Chairman of the Board and Chief Executive Officer, WinCraft, Inc.; Timothy A. Murphy, Partner, Rippe, Hammell & Murphy; and Bruce E. Ryan, President, Ryan Windows & Siding, Inc.

Nelson, Chief Financial Officer Sue Savat, Merchants Bank President and Chief Banking Officer Greg Evans and Chief Information Officer Rodney Nelsestuen were featured speakers.

MFGI has more than $1.5 billion in assets and holds 21 Merchants Bank locations, including Minnesota locations in Winona, Rushford, Lanesboro, St. Charles, Goodview, Rochester, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, and the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. Merchants has Wisconsin locations in Eau Claire and Onalaska. Merchants Bank was founded in 1875. All banks are FDIC members and equal housing lenders. Merchants Capital, the company’s leasing arm, is based in the Twin Cities.

Merchants has more than 425 employees, many of whom give significant volunteer time to organizations in their communities. Additionally, during 2014, Merchants Bank made charitable donations to nearly 300 organizations. The ownership of Merchants Financial Group is made up of its employees and mostly individuals and families from southeastern Minnesota and west-central Wisconsin.