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 $2.6 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.
- 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 conservation 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 healthy liquidity cushion because of the breadth and loyalty of our deposit 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

John Killen
President, WinCraft a Fanatics brand

Brad Peterson
Chairman, Mississippi Welders Supply Co., Inc.

James Rogers III
Chief Business Development Officer, Mayo Clinic

Bruce Ryan
President, Ryan Windows & Siding, Inc.

James Trenda, CPA
President, CP Advisors, LLC
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
Richard Falck
Owner, Falck Financial Services & President, RJF, Inc.
Molly Jungbauer, CPA
Chief Executive Officer, Hollstadt Consulting
John Killen
President, WinCraft a Fanatics brand
Brad Peterson
Chairman, Mississippi Welders Supply Co., Inc.
James Rogers III
Chief Business Development Officer, Mayo Clinic
Bruce Ryan
President, Ryan Windows & Siding, Inc.
Jennifer Sawyer
Founder & Partner, Rebound Partners & CEO/President, boardBOS
James Trenda, CPA
President, CP Advisors, LLC
John Althoff
Retired Owner, Althoff Hardware Mayor of Cannon Falls
Leslie Anderson
Farmer & Real Estate Broker, Anderson Realty, LLC
Lisa Lundell
Real Estate Broker/Owner, Cannon Realty
Richard Peterson
Owner, Peterson Turkey Hatchery, Inc.
Mark Poss
Director, Big Fish Ventures
Brenda Stelter
Owner, Anchor Promotions, Apparel & Signage
Cheryl Buck
Director-Business Development Professional Risk Managers' International Association
Matt Christensen
Commercial Risk Advisor, WA Group
Richard Falck
Owner, Falck Financial Services & President, RJF, Inc.
Chris Kennelly
Chief Investment Officer, REVocity; CEO, NCC Builders; President, G&H Management/Bluewater Properties
Jennifer Sawyer
Founder & Partner, Rebound Partners & CEO/President, boardBOS
Kristin Yahnke
Attorney & Partner, Schmitz Ophaug, LLP
Ben Gathje
Owner/Operator, Culver's of Cottage Grove
Peggy Johnson
Community Relations Director, Dakota Electric Association
James Trenda, CPA
President, CP Advisors, LLC
Richard Welshons
Twin Cities Manager, The Title Team/DCA Title
Dean Ashbacher
President & Chief Executive Officer, Truss Specialists, Inc.
Derek Cortez
CEO, Chileda, Inc.
Stephen Loehr
Vice President of Government & Industry Relations, Kwik Trip, Inc.
Richard Lommen, Jr.
President & Owner, Courtesy Corporation
Brian Wieser
Owner/Vice President, Wieser Brothers General Contractor, Inc
Owner/Vice President
Wieser Brothers General Contractor, Inc
John Beatty
Attorney, Dunlap & Seeger, PA
Aaron Benike
President, Benike Construction
Joselyn Raymundo
Founder/CEO, Rochester Home Infusion (RHI)
James Rogers, III
Chief Business Development Officer, Mayo Clinic
Bruce Ryan
President, Ryan Windows & Siding, Inc.
John Diersen
Owner & Farmer, Minnigan Hills Farm
Creighton Horihan
Owner, Horihan Companies
Joel Nelson
Farmer & Owner, Lanesboro Sales Commission & Decorah Sales Commission