Merchants Financial Group, Inc. Posts Earnings of $9,774,109 Through the First Three Quarters of 2016; Onalaska Location Makes Significant Contributions

mfgiq3resultsMerchants Financial Group, Inc. (MFGI) announced net income of $9,774,109 through the first three quarters of 2016, according to MFGI President & CEO Rodney R. Nelson. Nelson pointed out that the Merchants Bank location in Onalaska contributed significantly to the performance.

Nelson said the Onalaska location ended with $1,777,844 in net income for the first nine months of the year, which was 62.4% over budget for the location. Nelson noted that total loans for Onalaska were up 36% and Commercial Real Estate balances increased 49% compared to a year ago.

“I think we have the best banking team in the La Crosse area,”said Merchants Bank — Onalaska President Steve Christiansen. “We spend time building relationships, and we always strive to treat people well. We have been pleased to help businesses who have needed our assistance, and we look forward to helping others who may not have experienced the Merchants Bank difference or who may not know of our capabilities.”

Nelson shared that the MFGI Board of Directors voted to reward its shareholders with a one cent per share dividend increase from 55 cents to 56 cents. Earlier this year, the MFGI Board increased the dividend from 53 cents to 55 cents per share. MFGI stock is currently trading at or near record highs, $48.75 per share as of earlier this week.

Nelson recently announced he will be retiring as of January 31, 2017. Winona Market President and Chief Banking Officer for the organization Greg Evans has been named as his successor.

“We are in a good position. I know that under Greg’s leadership and with the support of our teammates, we will continue to grow and be successful,”Nelson said.

MFGI owns 21 Merchants Bank locations, including Wisconsin locations in Onalaska and Eau Claire. 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.  Subject to credit approval. 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 450 employees and its shareholders, mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Learn the Secret to Understanding Quickbooks and Your Business Finances

ONABusinessSeminarbloggraphicPlease join us for one or more of the following FREE business sessions featuring speakers from JRM and Associates. All sessions include breakfast and will be held at Stoney Creek Inn (3060 S Kinney Coulee Road, Onalaska) from 7:30 – 9:30 a.m.

  • Quickbooks Beyond the Basics Part 2 on Thursday, November 6 – Learn how to understand and utilize the income statement.
  • Year-End Tax Update on Thursday, December 4 – Prepare for your year-end taxes.

RSVPs are appreciated for planning purposes:

  • Becky Herrmann (blherrmann@merchantsbank.com or 608-779-8268)
  • Tricia Barnes (tricia@jrmcpa.biz or 608-781-8712)

Gateway Area Council of the Boy Scouts of America Receives $1,039.11 in 10 for 10 from Merchants Bank

ONALASKA, WIS. – The Gateway Area Council of the Boy Scouts of America was the October recipient of Merchants Bank in Onalaska’s 10 for 10 program, receiving $1,039.11 for contributions made in October.

Contributing to the area Boy Scouts was a great way to end our 10 for 10 program. It was 10 great months of celebrating the accomplishments of area nonprofits,” said Steve Christiansen, President of Merchants Bank in Onalaska.

The 10 for 10 celebration featured a different area nonprofit each month. Merchants granted the nonprofit $10 a day for each day of the month and matched up to another $10 a day that the nonprofit received in donations over the month. Merchants granted $300 for September and matched $300 of the $439.11 that the Boy Scouts received at Merchants Bank.

Merchants Bank celebrated all the nonprofits in an event in early October. Nonprofits who benefitted from 10 for 10 this year were: the Gateway Area Council of the Boy Scouts of America, the Great Rivers United Way, the Boys and Girls Club of Greater La Crosse, Ronald McDonald House Charities of Western Wisconsin and Southeastern Minnesota, “Walk a Mile in Her Shoes,” a collaborative effort of the YWCA of the Coulee Region and the Carilee Fund at Gundersen Medical Foundation, the Hunger Task Force, Family & Children’s Center, Freedom Honor Flight, Children’s Miracle Network Hospitals, and the La Crosse Area Family YMCA.

pictured are Steve Christiansen (l) of Merchants Bank and Sean Hennemann of the Gateway Area Council

pictured are Steve Christiansen (l) of Merchants Bank and Sean Hennemann of the Gateway Area Council

Boys and Girls Club of Greater La Crosse Area Receives $470 in Merchants Bank’s 10 for 10 Celebration

10 for 10 Boys & Girls ClubThe Boys and Girls Club of the Greater La Crosse Area was the August recipient of Merchants Bank in Onalaska’s 10 for 10 program, receiving $470 for contributions made in August.

The mission of the Boys and Girls Club of Greater La Crosse is to inspire and empower all young people, especially those who need us most, to realize their full potential as productive, responsible and caring citizens.

“It is a great organization, and we are proud to help,” said Steve Christiansen, President of Merchants Bank in Onalaska.

The 10 for 10 celebration features a different area nonprofit each month. Merchants grants the nonprofit $10 a day for each day of the month and matches up to another $10 a day that the nonprofit receives in donations over the month. Merchants granted $300 for August and matched another $85 dropped off at the Bank for the benefit of the Boys and Girls Club of the Greater La Crosse Area.

The September nonprofit featured is the Great Rivers United Way.

Ronald McDonald House Charities of Western Wisconsin and Southeastern Minnesota Receives $426 in Merchants Bank’s 10 for 10 Celebration

10 for 10 Ronald McDonald House

Pictured are Steve Christiansen, Merchants Bank, Kristina Schoh of Ronald McDonald House, and Shawn Sackman of Merchants Bank.

ONALASKA, WIS. – Ronald McDonald House Charities of Western Wisconsin and Southeastern Minnesota was the July recipient of Merchants Bank in Onalaska’s 10 for 10 program, receiving a check for $426 for contributions made in July.

The organization directly improves the health and well-being of children by providing them a bridge to accessible health care.

“It’s great to see the work that Ronald McDonald House of Western Wisconsin and Southeastern Minnesota does in this area and how it touches the lives of people that we all know throughout the region,” said Steve Christiansen, President of Merchants Bank in Onalaska.

The 10 for 10 celebration features a different area nonprofit each month. Merchants grants the nonprofit $10 a day for each day of the month and matches up to another $10 a day that the nonprofit receives in donations over the month. Merchants granted $300 for June and matched another $63 dropped off at the Bank for the benefit of Ronald McDonald House Charities of Western Wisconsin and Southeastern Minnesota.

The August nonprofit featured is the Boys and Girls Club of the Greater La Crosse Area.

“Walk a Mile in Her Shoes” Receives $396 in Merchants Bank’s 10 for 10 Celebration

ONALASKA, WIS. – “Walk a Mile in Her Shoes” was the June recipient of Merchants Bank in Onalaska’s 10 for 10 program, receiving a check of $396 for contributions made in June.

“Walk a Mile in Her Shoes,” is a collaborative effort of the YWCA and the Carilee Fund at Gundersen Lutheran.

“It’s a great cause, and we enjoyed raising funds for this program, as well as raising awareness for the July 5 event,” said Steve Christiansen, President of Merchants Bank in Onalaska. Christiansen and several other team members from Merchants Bank took part in this year’s walk.

The 10 for 10 celebration features a different area nonprofit each month. Merchants grants the nonprofit $10 a day for each day of the month and matches up to another $10 a day that the nonprofit receives in donations over the month. Merchants granted $300 for June and matched another $48 dropped off at the Bank for the benefit of “Walk a Mile in Her Shoes.”

“Anything we can do to raise awareness of domestic violence is well worth our time. We are happy to help in any way we can,” Christiansen said.

The July nonprofit featured is the Ronald McDonald House Charities of Southeastern Minnesota and Western Wisconsin.

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