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Merchants Bank receives regulatory approval to purchase Associated Bank locations


Fri, Oct 18th, 2013
Posted in All Business Announcements

WINONA, Minn. – The Comptroller of the Currency (OCC) has approved Merchants Bank’s purchase of the Rushford and Lanesboro branch locations of Associated Bank, according to Merchants Financial Group Inc., President and CEO Richard L. Mahoney.

“We are looking forward to the opportunity to serve these important customers,” Mahoney said.

The sale includes about $47 million in deposit and loan relationships, as well as the physical locations of the banks in Rushford and Lanesboro. The approved sale also includes Ag loans and related deposits from Associated’s location in Red Wing. The sale is tentatively scheduled to be completed November 15, 2013. Terms of the sale have not been disclosed.

Merchants Bank has $1.3 billion in assets and 18 current locations, including Winona, St. Charles, Goodview, Onalaska, Rochester, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing and Hampton, as well as the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Rosemount and Lakeville. The “flagship” Merchants Bank in Winona was founded in 1875.

Merchants Bank is a member FDIC and equal housing lender. Merchants Capital, the company’s leasing arm, is based in the Twin Cities. The ownership of Merchants Financial Group is made up of its employees and approximately 400 shareholders, mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Root River Ag Service and Inc.

Fri, Oct 18th, 2013
Posted in Lanesboro Business Announcements

LANESBORO, Minn. --Root River Ag Service Inc., has purchased Spex Feed of Fountain, Minn. The transaction occurred on October 17, 2013. Root River Ag took immediate possession and business operations were not interrupted. Root River Ag Service b ..... 
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Lanesboro jewelry artist receives Minnesota State Arts Board grant

Fri, Oct 11th, 2013
Posted in Lanesboro Business Announcements

International award winner jewelry designer Liz Bucheit of Crown Trout Jewelers, Lanesboro, Minn. has been awarded a grant from the Minnesota State Arts Board in the area of Folk and Traditional Arts. Influenced by her Norwegian ancestry and traine ..... 
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Harmony Area Community Foundation challenges Rushford Area Community Foundation to an online fundraising event - Give to the Max

Fri, Oct 4th, 2013
Posted in Harmony Business Announcements

WHEN: Thursday, November 14, 2013 covering the entire 24 hours WHY: To create more awareness of our foundations and their goals to support projects which improve the quality of life in our communities. WHERE: GIVE TO THE MAX DAY website. Give to ..... 
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“World Habitat Day” to be celebrated on October 7th, 2013

Mon, Sep 30th, 2013
Posted in All Business Announcements

Help Habitat for Humanity celebrate by coordinating a Jeans Day at your workplace WINONA, Minn. – Habitat for Humanity Winona - Fillmore Counties is celebrating World Habitat Day with a “Jeans Day.” Local churches and businesses are encoura ..... 
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Lanesboro Local to celebrate completion of new marketplace Saturday, October 5

Fri, Sep 20th, 2013
Posted in Lanesboro Business Announcements

LANESBORO, Minn. – A new gallery level has just been completed at the Lanesboro Local Marketplace, now filled with an exciting collection of local arts, crafts and books. Known as one of the most distinctive shops in the region featuring locally m ..... 
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Farmers Co-op Elevator agronomists attend WinField training

Fri, Sep 13th, 2013
Posted in All Business Announcements

On September 3-5, four Farmers Co-op Elevator agronomists — Rich Botcher, Dan Miller, Mike McDowell, and BJ Rud — attended sales development training in Shoreview, Minn. WinField Solutions, a leading distributor of crop protection products and a ..... 
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Merchants Bank acquires Associated Bank locations in Rushford and Lanesboro

Fri, Sep 6th, 2013
Posted in All Business Announcements

WINONA, Minn. – Merchants Bank has reached an agreement to purchase the current Associated Bank branch locations in Rushford and Lanesboro, Minn., according to Merchants Financial Group, Inc., President and CEO Richard L. Mahoney and Associated Ba ..... 
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Tri-County Electric Cooperative joins 11 other electric cooperatives in signing agreement to acquire Alliant Energy Territory

Fri, Sep 6th, 2013
Posted in Rushford Business Announcements

RUSHFORD, Minn. – Tri-County Electric Cooperative joined with 11 other electric distribution cooperatives serving Minnesota to form Southern Minnesota Energy Cooperative (SMEC) as the single point of contact for the purchase of electric service te ..... 
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