The Merchants Financial Group is reporting net income for the first six months of 2013 at just over $6.1 million.
President and CEO Richard L. Mahoney said the net income was slightly behind the first half of 2012 when the group earned nearly $1.2 million. Mahoney also said net income for the first six months this year is still ahead of plan.
Merchants had a 2012 profit of $12.43 million. The group currently has assets of 1-point-3 billion dollars.
Earlier Mahoney announced he will retire at the end of this year. He will be succeeded by Winona Charter President and Merchants Financial Group Vice President Rod Nelson.