Winona's Merchants Financial Group has posted another increase in net earnings through the first six months of 2012.
The group's President and CEO. Richard Mahoney reports the group showed net income of almost $6.2 million through the first half of this year. That compares to the net earnings of $4.5 million through the first half of 2011.
Mahoney says the group earned $8.7 million for the entire 2011 and he feels they will be abe to surpass that mark by the end of 2012. The Merchants Bank group currently has $1.3 billion in assets and remains in an excellent equity position with $110 million, according to Mahoney.