Merchants Financial Group President Rod Nelson is reporting that the organization is sound and continues to grow, recording 11.6 million dollars in net income in 2013.....the second best year in terms of income, following net income of 12.4 million dollars in 2012.
Merchants Financial Group held its annual meeting Thursday formally reporting 2013 income to shareholders and re-electing five members to its Board of Directors.
Nelson said It is good to share the good news with the bank's shareholders,and the bank is looking forward to continuing success in 2014.
Re-elected to three-year terms as Directors were: David H. Keller, the retired President of Lucas Body Systems, Richard T. Lommen, Jr., the Owner/Operator of Courtesy Corporation, McDonald's, Kenneth J. Mogren, the retired President, Winona Agency, Inc., Bruce E. Ryan, the Owner, Ryan Windows & Siding, Inc., and Peter W. Woodworth, Chairman, WKM Properties.
Merchants Bank has 1.4 billion dollars in assets and 21 locations, throughout southeastern Minnesota and western Wisconsin.....