Merchants-2013 Report

Merchants Financial Group reports finishing 2013 with income of more than $11,600,000, the second best year ever in terms of net income.
President and CEO Rod Nelson said the group is pleased with the results which were ahead of the group's plan for 2013.

Nelson said when, aided by extraordinary mortgage volume, Merchants reported net income of $12,400,000.

He said loan balances increased by 12.2 percent to $972,000 and equity increased from $112,000,000 to $116,000,000 in 2013.

The asset size of Merchants also increased by almost a million dollars to 1.28 billion dollars.

Merchants acquired locations in Rushford and Lanesboro in November and recently acquired a new location in Eau Claire to go along with its bank in Onalaska.

Greg Evans was also recently named the bank's president and chief banking officer.

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