Dawn Stenberg Becomes Mortgage Lender at Merchants Bank

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Dawn Stenberg, Mortgage Lender

Dawn Stenberg has started as a mortgage lender at Merchants Bank, according to Sue Hovell, Director of Retail Banking Performance.

“We are excited to have Dawn as part of our team of lenders. She is well known and well respected in our market and fully understands the process that makes Merchants Bank stand out to all of its customers,”Hovell said. “We are looking forward to what she will bring to everyone she serves.”

Stenberg has worked as a mortgage lender previously, both with Wells Fargo in the Winona market, and the John O Melby Bank in Whitehall, WI. She has more than eight years of mortgage experience and more than 14 years of banking experience. Stenberg has been with the Merchants Bank organization since 2012, where she has worked both as a mortgage underwriter and a mortgage coordinator. She said that experience will be especially helpful in her new position.

“Understanding the industry guidelines and processes will be a benefit to customers in that I will be able to guide them so they get the mortgage product that best fits their needs. My goal is to make the experience as seamless as possible for customers,” Stenberg said. “There are a number of reasons Merchants Bank is the market leader, and I look forward to sharing those with customers.”

Learn more about mortgage loans at Merchants Bank by visiting our website.

Merchants Bank in Eau Claire’s Loan Growth of Nearly 62% Contributes to Merchants Financial Group, Inc. Earnings; Loan Growth Has Been 231% over the Past Year

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Larry Accola, President of Merchants Bank in Eau Claire

Merchants Bank in Eau Claire experienced loan growth of 61.76% over the first two quarters of 2016. The growth helped Merchants Financial Group, Inc. (MFGI) realize net income of $6,442,991 through the first two quarters of 2016, according to Larry Accola, President of Merchants Bank in Eau Claire.

Accola pointed out that loan growth has been consistent over the past year, with an increase of 231% year over year. MFGI, which purchased the Eau Claire location in 2014, owns 21 Merchants Bank locations in Minnesota and Wisconsin.

“More and more mortgage and commercial customers have discovered our community bank and are sharing their business with us,”said Accola, who has extensive banking experience in the Eau Claire market. “They are becoming customers and learning how Merchants Bank is the right bank for them, whether their banking needs are business or personal.”

In addition to the loan growth, deposits have grown 13.76% over the first two quarters of 2016, Accola said. The bank location, on Mall Drive, kitty-corner from Festival Foods, will be extensively remodeled this Fall to better meet the needs of customers.

“We are looking forward to continued growth in the Eau Claire market,”said MFGI President & CEO Rodney R. Nelson. “Larry and his team are doing an exceptional job sharing our community banking message with people in the Chippewa Valley, and it is clear people are responding.”

MFGI’s net income for the first two quarters of 2016 is nearly $170,000 ahead of Merchants Bank’s 2015 earnings through the same time. Merchants Bank posted record earnings of $13,454,698 in 2015.

MFGI owns Wisconsin locations in Eau Claire and Onalaska. Minnesota locations include 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. 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 nearly 450 employees and its shareholders.

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

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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.

Mike Swanson and Pam Timp to Provide Cash Management Solutions for Merchants Bank in the Twin Cities

MikeandPamPromotionMike Swanson and Pam Timp of Merchants Bank will be taking the lead in providing Cash Management solutions for businesses in the Twin Cities.

They will be providing Cash Management expertise for business customers for all Merchants Bank’s Twin Cities locations –Hastings, Cottage Grove, Apple Valley, Lakeville and Rosemount. Swanson has moved to Merchants Bank’s Hastings location, where he has also been promoted to Commercial Banker. Timp will be available at the Lakeville location.

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.

“I’m looking forward to working with our business customers throughout the Twin Cities and show them how our Cash Management solutions may be able to help them 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. Timp has been with the Merchants Bank organization for almost three years, serving as Lending Assistant and Customer Service Representative in Lakeville.

Merchants Financial Group, Inc. Posts Earnings of $6,442,991 Through First Half of 2016

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Merchants Financial Group, Inc. (MFGI) announced net income of $6,442,991 through the first two quarters of 2016, according to MFGI President & CEO Rodney R. Nelson.

“Our earnings reflect the exceptional work of the employees throughout our organization in meeting and exceeding the needs of our customers in the communities we serve, whether they are business owners, someone buying a home, or someone saving for the future,” Nelson said. “We believe our success is a direct result of helping others meet their goals.”

Nelson said the main drivers for Merchants Bank’s earnings continue to be commercial loan and mortgage loan growth. He said other areas have also contributed to the positive earnings, including growth in the credit card portfolio. Merchants Bank issues and services its own consumer and business credit cards.

Net income for the first two quarters of 2016 is nearly $170,000 ahead of Merchants Bank’s 2015 earnings through the same time. Merchants Bank posted record earnings of $13,454,698 in 2015.

“I anticipate continued success throughout the year in all of our markets,” 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. 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 nearly 450 employees and its shareholders, mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

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.

Tami Krause Takes on Mortgage Lending Responsibilities at Merchants Bank in St. Charles

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Tami Krause has added Mortgage Lender to her responsibilities at Merchants Bank in St. Charles, according to Jim Allen, President for Merchants Bank in St. Charles.

“As a mortgage lender Tami will continue to show her dedication to our customers by providing them with the best possible service,”Allen said. “In her career, she has consistently shown that attention to detail and personal needs that our customers deserve and expect.”

Krause started her banking career with Merchants in 2002 as a lead teller. She has held various positions in her time with Merchants. In 2007, she took on Consumer Lending responsibilities. She will continue with her consumer lending responsibilities in addition to her new mortgage lending responsibilities.

“It’s a privilege to help people get into their next home –whether that’s a first, second, third or fourth home,”Krause said. “It remains a great time to buy or refinance a home. Rates are still low.”

Krause will be filling the mortgage lending role in St. Charles that had been filled by Rhonda Merchlewitz. Merchlewitz remains with Merchants Bank as a mortgage lender in Winona.