Investor Relations

Welcome to Merchants

Merchants Financial Group, Inc. is the holding company for Merchants Bank, NA. Founded in 1875 and headquartered in Winona, MN, Merchants is a full-service community bank with:

Total assets of $2.8 billion, making us one of the largest independent financial organizations in our region.
20+ locations in Minnesota and Wisconsin and an equipment finance division.
A strong retail mortgage and correspondent mortgage banking network partnering with correspondent bank locations throughout ND, NE, SD, MN, IA and WI, servicing more than $2.6 billion in mortgage loans.
Local ownership by our employees through our Employee Stock Ownership Plan and approximately 760 individuals and families, mostly from communities we serve, as well as a few community bank institutional investors.
A history of strong regulatory capital and consistent dividend payments.

Proven Track Record as a Strong, Growing Community Bank

Our business approach has been consistent for nearly 150 years. We take a responsible and conservative approach to managing the business and have experienced consistent, steady and measured growth through:

Prudent lending practices and credit culture.
Prudent investments with a conservative approach to duration and interest-rate risk.
Working with a variety of diverse businesses without reliance on any industry concentrations of significance.
Strong diversification in our product and service offerings to minimize dependence on income from one specific business line year-over-year.
A strong core deposit base from local business and retail customers.

If you have questions or would like more information about Merchants Financial Group, please contact us or call (507) 457-1135.

Financial & Shareholders Resources

Annual Shareholder Meeting

Richard Lommen, Jr.

Chair of the Board

President & Owner, Courtesy Corporation

Ann Merchlewitz

Vice Chair of the Board

Senior Vice President & General Counsel, St. Mary's University of Minnesota

Michael Cichanowski

Founder & Chief Executive Officer, Wenonah Canoe, Inc.

Greg Evans

President & Chief Executive Officer, Merchants Financial Group, Inc. and Merchants Bank, NA

Molly Jungbauer, CPA

Chief Executive Officer, Hollstadt Consulting, Inc.

John Killen

Senior Advisor, WinCraft a Fanatics brand

Brad Peterson

Chairman, Mississippi Welders Supply Co., Inc.

James Rogers III

CEO, Digital Pathology & Senior Administrator, Generative AI, Mayo Clinic

Bruce Ryan

President, Ryan Windows & Siding, Inc.