Larry Bodin to Lead Merchants Bank Locations in Onalaska and La Crescent

Larry Bodin, Market President

Larry Bodin has been promoted to Market President for Merchants Bank locations in Onalaska and La Crescent, according to Andrew Guzzo, Regional President.

Bodin’s primary responsibilities will be to provide leadership for Merchants Bank’s Onalaska, WI and La Crescent, MN locations; along with meaningful community engagement in the Coulee region. He will also continue serve as a Commercial Banker and trusted financial advisor for business clients. Bodin succeeds Steve Christiansen, who retired as Market President for Merchants on December 1.

“With nearly 20 years of community leadership in the market, Larry is a natural fit to oversee our Onalaska and La Crescent locations,” said Guzzo. “His familiarity with the local economy and dedication to putting the customer first will help us continue to grow Merchants into the future.”

Bodin has been with Merchants since January 2020 and has been a banker in the La Crosse area since 2003, with experience in both business banking and bank market leadership. He is also a veteran of the United States Navy.

“As a community bank, Merchants plays a vital role in the economic health and welfare of our communities. This has never been more important than it is today. I am extremely proud to be a part of the Merchants team and look forward to serving alongside them as we continue to build strong communities together,” said Bodin.

Bodin and his wife, Elaine, have lived in the Holmen area since 2003 and are active community volunteers. For the past 25 years, Bodin has been a licensed WIAA, MSHSL and NCAA basketball official. He also currently serves on the Board of Directors for Chileda, Inc., and the VARC Foundation. Outside of work, he enjoys fishing, golfing, and flying as a private pilot, often taking trips to explore locations around the region and Midwest.

For decades Merchants Bank has been a community partner in both Onalaska and La Crescent, helping individuals and businesses achieve their financial goals. With a focus on mortgage and business financing, Merchants has been fortunate to grow as each community has grown. In addition to traditional banking services, the Bank also offers a full line of business loan, lease and floor plan finance solutions, digital banking, security apps, treasury management tools and wealth management services.

Merchants Bank is a full service community bank with 23 bank locations in southeastern Minnesota and west-central Wisconsin and a leasing division, Merchants Bank Equipment Finance, in Edina. Headquartered in Winona, MN, MFGI has more than $2.5 billion in assets. Merchants was founded in 1875. Loans are subject to credit approval.

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.