Nick Pederson Joins Merchants Bank as a Commercial Banker

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Nick Pederson, Commercial Banker

Nick Pederson has joined Merchants Bank in Rochester as a Commercial Banker, according to John Doyle, President of Merchants Bank in Rochester.

“We’re excited to have someone with Nick’s experience finding solutions for customers and knowledge of the Rochester market join our team,”Doyle said. “We look forward to him helping more and more businesses discover Merchants Bank.”

Pederson has been working in the Rochester area for the past 10 years and has helped commercial loan customers at Wells Fargo, Think Bank and US Bank.

“I’m excited to join Merchants Bank because it’s a true community bank with a strong focus on commercial banking,” Pederson said. “Merchants has earned its reputation as an area leader in building long-term relationships built on finding solutions for its customers.”

Pederson is active in the community and serves on the Board of the Southeastern Minnesota Center of Independent Living (SEMCIL). He has an undergraduate degree from the University of Wisconsin-Green Bay and an MBA from Augsburg College. Pederson was born and raised in Rochester.

Mike Swanson Promoted to Commercial Banker and Cash Management Specialist at Merchants Bank in Hastings

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Mike Swanson, Commercial Banker and Cash Management Specialist

Mike Swanson has been promoted to Commercial Banker and Cash Management Specialist at Merchants Bank in Hastings, according to Bruce Goblirsch, President of Merchants Bank in Hastings.

“I’m looking forward to working with business customers to help meet their goals on the lending side of the business and showing them how our Cash Management products may be able to help those businesses in ways they may not have expected,” Swanson said.

Swanson has been with the Merchants Bank organization for four years and in banking for 15 years. Most recently he served as the Senior Consumer Banker and Branch Manager in Merchants’ Lakeville location. He started with Merchants Bank in Apple Valley.

“Mike has been successful at every aspect of banking because he always puts the needs of customers first. I expect that he will do an exceptional job helping the businesses in and around Hastings,” Goblirsch said. “Plus, his understanding of how we can help businesses with Cash Management is really an incredible benefit as they make their money work smarter.”

Swanson will be part of the team supporting Merchants Bank locations throughout the Twin Cities –including Apple Valley, Lakeville, Cottage Grove, Rosemount and Hastings –with his Cash Management expertise. Merchants Bank’s Cash Management products and services are designed to save businesses time and money, protect against potential fraudulent activity and create opportunities for those businesses to grow. It is an area of focus for the Merchants Bank organization.

Shawn Sackman Named Senior Lending Officer for Merchants Bank’s Southeast Region

Shawn Sackman, Senior Lending Officer

Shawn Sackman, Senior Lending Officer and Senior Vice President

Shawn Sackman has been promoted to Senior Lending Officer and Senior Vice President for Merchants Bank’s Southeast Region, according to Southeast Regional President Jay Friedl.

“This is an excellent opportunity for Shawn, and one that he has earned and deserves,” Friedl said. “The people who will benefit the most from this are our other commercial bankers in the region, who will learn from him, and all of our customers throughout the area, who benefit from his dedication to serving their needs.”

Sackman will work as senior lending officer for Merchants locations in Rushford, Lanesboro, Spring Grove, Caledonia, La Crescent and Onalaska, where he has worked as a Commercial Banker and Vice President since 2011, when he joined the Merchants organization.

“This position allows me to help our commercial bankers to continue to build long-term relationships with our existing customers and meet the needs of new customers,” Sackman said. “My knowledge will help our team to be responsive to our customer lending and cash management needs. It’s a great team, and I look forward to mentoring and coaching them.”

Before joining Merchants, Sackman had worked as a Senior Business Relationship Manager in the area for a large national bank from 2000 to 2011. He’s a native of Montana and a graduate of Viterbo University in La Crosse. He is very involved volunteering in the area and was awarded the 2015 Volunteer Award by the Great Rivers United Way.

Visit our website for more information on our commercial and business loans, cash management tools and other business accounts.

Subject to approval. Equal Housing Lender.

Jim Peterson Joins Merchants Bank as a Commercial and Ag Banker

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Jim Peterson, Commercial and Ag Banker

Jim Peterson has joined Merchants Bank in Cannon Falls as Vice President and Commercial and Ag Banker, according to Brian Hokanson, Senior Vice President and Senior Lender for Merchants Bank.

“We believe Jim’s skills, especially in the area of ag lending, are a tremendous fit for our focus as a bank, but, more so, the right fit for our current and future customers,” Hokanson said.

Peterson has 16 years of commercial lending experience, working both in North Dakota and Minnesota. In addition to serving the needs in the Cannon Falls area, Peterson will also work with Ag customers in the Rochester area.

“The areas of focus that are important to me are also important to Merchants Bank,” Peterson said. “It has a great reputation for taking care of the immediate and long-term needs of its customers. I’m happy to be part of the team.”

Peterson is a native of North Dakota and graduate of North Dakota State University, with a degree in Agricultural Economics. He has a long history of community involvement and a love for the outdoors, including time serving on the Advisory Board for the North Dakota Parks and Recreation Department. Jim and his wife, Tina, are looking forward to being active members of the Cannon Falls community.

Loans are subject to credit approval.

In Honor of Harvest

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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?

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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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Jim Vrchota Joins Merchants Bank in Winona as a Vice President and Commercial Banker

Jim Vrchota, Vice President and Commercial Banker

Jim Vrchota, Vice President and Commercial Banker

Jim Vrchota has joined the team at Merchants Bank as Vice President and Commercial Banker, according to Randy Domeyer, Senior Vice President and Commercial Banking Department Manager

“We are excited to have Jim join our team in Winona,” Domeyer said. “His experience in business development and lending will benefit our customers and our lending team here at Merchants Bank.”

Vrchota has more than 33 years of experience in the banking industry, much of it as a Senior Lender and Market President. Most recently he served as Senior Vice President at United Prairie Bank in Spicer, Minnesota, where he worked in commercial and ag lending. Vrchota also has a great deal of experience in SBA (Small Business Administration) lending.

“I am happy to be a part of a banking organization that has such a tremendous reputation for helping its customers meet their goals,” Vrchota said. “I look forward to becoming a part of the Winona community.”

Vrchota has a long history of community involvement, especially in the areas of economic development and community service.