1 Sprague Square, PO Box 188
Caledonia, MN 55921

(507) 725-3331


Lobby Hours

Lobby Hours
Monday 9:00 a.m. - 4:00 p.m.
Tuesday 9:00 a.m. - 4:00 p.m.
Wednesday 9:00 a.m. - 4:00 p.m.
Thursday 9:00 a.m. - 4:00 p.m.
Friday 9:00 a.m. - 5:00 p.m.
Saturday Closed
Sunday Closed

Drive Up Hours

Lobby Hours
Monday 7:30 a.m. - 5:00 p.m.
Tuesday 7:30 a.m. - 5:00 p.m.
Wednesday 7:30 a.m. - 5:00 p.m.
Thursday 7:30 a.m. - 5:00 p.m.
Friday 7:30 a.m. - 5:30 p.m.
Saturday 8:00 a.m. - 12:00 p.m.
Sunday Closed

Observed Holidays

January 2
Closed for New Year's Day
May 29
Closed for Memorial Day
July 4
Closed for Independence Day
September 4
Closed for Labor Day
November 23
Closed for Thanksgiving
December 24
Closed for Christmas Eve
December 25
Closed for Christmas
January 1, 2024
Closed for New Year's Day


  • Notary
  • Drive Up ATM
  • Safe Deposit Box

Local Leadership

Our Caledonia location is guided by our local President and Community Advisory Board, made up of local community members and business professionals. 

President: Matt Schuldt

Community Involvement

Being a community leader is who we are. Our team volunteers thousands of hours each year in leadership and education roles in addition to local events.

We celebrate our farmers during harvest season with a Corn and Brat Blast each fall as the first sweet corn is coming out of the fields.  Our local team is proud to be involved in volunteer efforts in Caledonia and the surrounding communities.

Upcoming Events

Click here to see our company-wide calendar.

Our History

Merchants acquired Sprague National Bank in Caledonia in 1993. The bank was originally established in 1875 by Ara David Sprague and J.C. Easton, making it one of the oldest financial institutions in Minnesota.  

Before acquisition, the bank was owned by the third generation of the Sprague family, and it was important to Merchants to keep the family named preserved in the Caledonia community. In addition to dedicating the “Sprague Room” in the Caledonia Community Center, Merchants also worked with the City to formally name the city block Sprague Square and change the Bank’s Caledonia address to 1 Sprague Square.

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