Merchants Financial Group, Inc Recaps 2025 Record Earnings Year; Shareholders Re-elect Three Directors
News
| 04.23.2026
Merchants Financial Group, Inc., (MFGI) held its Annual Meeting on April 23, with Executive Management sharing highlights from the Company’s record earnings in 2025 and industry outlook for 2026, and shareholders re-electing three Directors to the MFGI Board.
MFGI formally reported net income of $32,377,995 for 2025, which was a $13.84 million increase (74.64%) compared to 2024’s earnings. The Company’s Executive Team detailed what drove the record earnings year performance, and shared an optimistic outlook for continued performance momentum in 2026 due to the Company’s deposit growth of the past two years and the strength of its balance sheet.
“I am enormously proud of the commitment of our team and that this record earnings year was achieved during our 150th anniversary year of uninterrupted service to our customers and communities,” said Gregory M. Evans, President & Chief Executive Officer for MFGI and Merchants Bank. “Results like this don’t happen without the support of our loyal shareholders and leadership provided by our Board of Directors. The contributions made by the entire Merchants team are acknowledged and celebrated.”
Business during the meeting included re-electing three Directors to three-year terms: Greg Evans, Richard Lommen Jr., President & Owner of Courtesy Corporation; and Brad Peterson, Chairman of Mississippi Welders Supply Co., Inc.
Also at the meeting retiring Director James Trenda was recognized for his 25 years of Board service with the Company. Trenda, President of CP Advisors, served on the Merchants Bank Charter Board from 2015-2026 and Advisory Board of Directors for the North Region/Twin Cities from 2001-2026. He retired from the Bank’s governing Board last year, which he served on from 2007-2025.
Merchants Financial Group, Inc. is a publicly-traded Company. Ownership is made up of its more than 400 employees and mostly individuals and families from southeastern Minnesota and west-central Wisconsin.
Merchants Bank is a full service community bank with bank locations in southeastern Minnesota and west-central Wisconsin and a leasing division, Merchants Bank Equipment Finance, in Edina. Headquartered in Winona, MN since 1875, MFGI has more than $2.8 billion in assets. Merchants was founded in 1875.
MFGI formally reported net income of $32,377,995 for 2025, which was a $13.84 million increase (74.64%) compared to 2024’s earnings. The Company’s Executive Team detailed what drove the record earnings year performance, and shared an optimistic outlook for continued performance momentum in 2026 due to the Company’s deposit growth of the past two years and the strength of its balance sheet.
“I am enormously proud of the commitment of our team and that this record earnings year was achieved during our 150th anniversary year of uninterrupted service to our customers and communities,” said Gregory M. Evans, President & Chief Executive Officer for MFGI and Merchants Bank. “Results like this don’t happen without the support of our loyal shareholders and leadership provided by our Board of Directors. The contributions made by the entire Merchants team are acknowledged and celebrated.”
Business during the meeting included re-electing three Directors to three-year terms: Greg Evans, Richard Lommen Jr., President & Owner of Courtesy Corporation; and Brad Peterson, Chairman of Mississippi Welders Supply Co., Inc.
Also at the meeting retiring Director James Trenda was recognized for his 25 years of Board service with the Company. Trenda, President of CP Advisors, served on the Merchants Bank Charter Board from 2015-2026 and Advisory Board of Directors for the North Region/Twin Cities from 2001-2026. He retired from the Bank’s governing Board last year, which he served on from 2007-2025.
Merchants Financial Group, Inc. is a publicly-traded Company. Ownership is made up of its more than 400 employees and mostly individuals and families from southeastern Minnesota and west-central Wisconsin.
Merchants Bank is a full service community bank with bank locations in southeastern Minnesota and west-central Wisconsin and a leasing division, Merchants Bank Equipment Finance, in Edina. Headquartered in Winona, MN since 1875, MFGI has more than $2.8 billion in assets. Merchants was founded in 1875.
