Our First Board of Directors
- Mark Willson, Merchants Bank President (previously a Merchandise Salesman)
- Charles Berry, Attorney
- G.W. Bennett, Owner of Taylor & Bennett Co.
- Conrad Booth, Manufacturer and Lumber Dealer
- Charles Beck, Entrepreneur, Brewer, Politician and Farmer
- H.D. Perkins, Merchants Bank Vice President (previously a Grocer)
- N.F. Hilbert, Merchants Bank Cashier (previously an Accountant)
The Story of Our Winona Location
- Stained glass windows – Produced by Mosaics Art Shops of Minneapolis, the large windows were inspired by earlier works of Louis C. Tiffany.
- Mural – While the building originally had two murals painted by Albert Fleury, only one remains today on the Bank’s north wall. It depicts the West Burns Valley area lying behind Winona’s bluff-top landmark called Sugar Loaf.
- Original bank vault – Prominently displayed in our lobby is our original cash vault, which was used until the renovation in 1972. While it may appear portable, the ball-shaped unit weighs approximately 15 tons.
- Terra cotta details - The building's exterior features extensive and unique terra cotta work, including a bald eagle above the front door entrance (pictured above).
How Merchants Bank Grew
- 1979 – Opened branch in Goodview, MN.
- 1988 – Opened Merchants Bank Equipment Financing in Edina, MN.
- 1989 – Acquired the First National Bank in St. Charles, MN.
- 1990 – Acquired La Crescent State Bank in La Crescent, MN.
- 1993 – Acquired Sprague National Bank in Caledonia, MN.
- 1999 – Opened Lakeside branch in Winona, MN.
- 1999 – Acquired TCF locations in Rochester, MN.
- 2000 – Acquired Hampton Bank in Hampton, Apple Valley, Cottage Grove and Hastings, MN.
- 2003 – Opened branch in Onalaska, WI.
- 2005 – Opened branch in Lakeville, MN.
- 2007 – Acquired First National Bank in Cannon Falls and Red Wing, MN.
- 2009 – Acquired Mainstreet Bank in Cottage Grove, MN.
- 2010 – Acquired Central Bank location in Spring Grove, MN.
- 2011 – Acquired Central Bank location in Rosemount, MN.
- 2013 – Acquired Associated Bank locations in Lanesboro and Rushford, MN.
- 2014 – Acquired Alliance Bank location in Eau Claire, WI.
Rooted in Our Past, Looking to Our Future
Merchants Bank's Other Locations
Many people are surprised to hear that our flagship location was our third location in Winona. The above picture is our first location on Center Street in Winona, which was owned by Conrad Booth from our Board of Directors. It was demolished after a fire in 2016.
In 1897, Merchants National Bank consolidated with the German Bank and moved to Third & Walnut Streets. This location is still standing today.