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Merchants Bank completes acquisition of Rushford and Lanesboro locations from Associated Bank


Thu, Nov 21st, 2013
Posted in Lanesboro Business Announcements

WINONA, Minn. – Merchants Bank has taken ownership of the former Associated Bank locations in Rushford and Lanesboro, according to Merchants Financial Group, Inc. President & CEO Richard L. Mahoney.

Transfer of ownership took place November 15, according to Mahoney.

“We appreciate the professionalism of Associated Bank through the change of ownership. Like us, they were focused on customer needs throughout this process,” Mahoney said. “We look forward to serving our new customers.”

Between the two locations, Merchants Bank acquired $47 million in deposits and about $11 million in loans from Associated. Additionally, Merchants did acquire a number of Agriculture loans and related deposit accounts from the Associated Bank location in Red Wing. Associated will continue to operate its main branch and auto bank locations in Red Wing. Terms of the sale have not been disclosed.

Merchants Bank now has 20 locations and $1.348 billion in assets. In addition to Rushford and Lanesboro, Merchants has locations in Winona, St. Charles, Goodview, Rochester, Caledonia, La Crescent, Onalaska, Spring Grove, Cannon Falls, Red Wing, Hampton and the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. The “flagship” Merchants Bank in Winona was founded in 1875. All banks are FDIC members and equal housing lenders. Merchants Capital, the company’s leasing arm, is based in the Twin Cities. Merchants stock is closely held, but is available to the public when shares become available. There are approximately 400 shareholders, mostly individuals and families from southeastern Minnesota and west-central Wisconsin.

Root River Trail towns partnership to host regional Destination Medical Center (DMC)

Fri, Nov 8th, 2013
Posted in Lanesboro Business Announcements

Root River Trail Towns Partnership to Host Regional Destination Medical Center (DMC) informational gathering and conversation in Lanesboro, November 18. WHAT: Root River Trail Towns will host an informal social hour, presentation and discussion f ..... 
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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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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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Lanesboro Local has a new view

By Megan Kiehne

Fri, Jul 12th, 2013
Posted in Lanesboro Business Announcements

The Marketplace has a new home: 201 Parkway Ave North, right downtown Lanesboro, Minn. This centralized location will hopefully attract more customers to the market along with making Lanesboro Local the outlet for producers to sell their foods and g ..... 
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A new look and a new name for Lanesboro restaurant

Fri, Jul 12th, 2013
Posted in Lanesboro Business Announcements

By Jade Sexton What was once Rhino’s Pizza and Sub Shoppe in Lanesboro, Minn., has recently become Gil B’s Pizza and Sandwich Shoppe, but the name isn’t the only change. Owner Kim Reimann, who opened the restaurant in 2005 as Rhino’s, descr ..... 
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Lanesboro Local opens grand new marketplace

Thu, Jun 27th, 2013
Posted in Lanesboro Business Announcements

On Saturday, July 6 from 1-4pm, Lanesboro Local will celebrate the opening of their bigger, better Marketplace at the historic corner of Parkway Avenue & Coffee Street in Lanesboro, Minn. A ribbon cutting ceremony at 2pm will officially recognize th ..... 
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Lanesboro, MN Named one of AMERICA’S TOP TWELVE SMALL-TOWN ARTPLACES

Tue, Apr 9th, 2013
Posted in Lanesboro Business Announcements

(Chicago, IL, Date TK) . . . America’s Top Twelve Small-Town ArtPlaces were announced today by ArtPlace, a collaboration of leading national and regional foundations, banks, and federal agencies committed to accelerating creative placemaking—put ..... 
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