About Merchants Financial Group

Merchants Financial Group (MFGI) is the parent company for:

Merchants Bank, which provides banking services to individuals, businesses and companies through its more than 20 locations.
Merchants Bank Equipment Finance, a lease and equipment division of Merchants Bank.

With total assets of more than $2 billion, MFGI is among the largest independent financial organizations in our region.

Local Ownership

Since 1989, MFGI has strategically acquired several smaller banks that align with our commitment to the community banking philosophy. We are proud to be locally owned by our employees through our Employee Stock Ownership Plan (ESOP) and approximately 760 individuals and families mostly from communities in southeastern Minnesota and west-central Wisconsin.

Contact Us

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

Financial & Shareholder Resources:

2018 Annual Report
2018 Proxy Letter
Shareholder Communication
- January 2020 Letter
- October 2019 Letter - Revised
  Please note: Shareholders, you would have received your third quarter shareholder letter near the end of October and unfortunately after the mailing commenced, we identified several small corrections on the financial highlights. The tangible book value number decreased from $57.22 to $55.81 as the formula failed to include the new core deposit intangible from the acquisition of First National Bank of Northfield in the initial letter. Several credit quality measured were also adjusted to reflect the addition of Northfield. These adjustments were all positive. Please see the revised financial highlights in the letter linked above.
- July 2019 Letter
- April 2019 Letter
Earnings Press Releases
Press Release: Merchants Bank to Acquire First National Bank of Northfield

Local Ownership

Contact Us

Financial & Shareholder Resources:

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