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.

Merchants Financial Group, Inc. Increases Shareholder Dividend by Five Cents Per Share; Success Continues Through First Three Quarters of 2014

Rod Nelson, President & CEO

Rod Nelson, President/CEO

Merchants Financial Group, Inc. (MFGI) reported net income of $9,749,529 through the first three quarters of 2014. The figure is $281,644 ahead of last year’s net income and ahead of MFGI’s plan. Based on the performance, the MFGI Board of Directors voted to increase the shareholder semiannual dividend by five cents to 50 cents per share, according to MFGI President & CEO Rod Nelson.

“I am pleased that we can continue to reward our shareholders for their confidence and continue to bring value to those shareholders, our customers and our employees,” Nelson said. The dividend will be paid to shareholders of record as of November 21, 2014. “I do expect that we will finish the year on a positive note.”

Nelson said the main drivers for the continued success are the work of business bankers across all locations in securing new business, maintaining loan credit quality and the success of the mortgage area.

MFGI has a strong correspondent mortgage network that supports smaller banks across Minnesota, Wisconsin, Iowa, North and South Dakota and Nebraska by helping those banks provide mortgages to their customers. That work, coupled with the efforts of the mortgage lenders at Merchants Bank locations, has continued to have a positive impact on the organization.

“The reason for our success is our people and their ability to create and enhance relationships with customers in all our markets. We continuously strive to add the very best people to our team and are focused on continued talent enrichment as we grow,” Nelson said.

In Memory of Pete Roehl, Merchants President 1986-2000

If Merchants Bank could be embodied in a person, it would be Pete Roehl. He was decent, caring, kind, loyal, sincere, dedicated to helping others, committed to always doing the right thing and a leader. As President and CEO of Merchants Bank and Merchants Financial Group from 1986-2000, he oversaw Merchants’ growth from $167 million to $500 million.

When, at the age of 79, his heart stopped beating on August 27 of this year, the Merchants Bank family lost a person who helped shape the culture of the Bank into what it is today – a true community bank where employees take leadership roles in making our communities better places to live, and where those employees take pride in knowing their customers by name.

One of Pete’s many gifts was the ability to make you know you mattered. When he asked how you were, he wanted the real answer – good or bad – because he cared.

Asked about his success a number of years ago by the Winona Daily News, Pete said: “I think my successes stem from a real and sincere caring for people. I like people. If you respect them, they feel that and give it back to you.”

Pete was at Merchants for 33 years in total, beginning in 1968 as a business banker. After his retirement in 2000, he continued to serve on the Board of Directors until he turned 75 and then as a Director Emeritus. His legacy continues in many ways, including through his grandson Ryan Meyer, who works in the Bank’s Operations department.

Our world was better because he was here with us. We will miss him, and we pledge to continue to honor and celebrate his memory every day through our actions.