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Merchants Bank receives partnership award from Mortgage Insurer MGIC


Thu, Mar 13th, 2014
Posted in All Business Announcements

WINONA, Minn. – Mortgage insurance leader MGIC recently presented Merchants Bank with its Partnership Award, which recognizes a business partner for loyalty, superior business quality and leadership in the mortgage industry.

Merchants Bank’s Vice President of Mortgage Operations Robert Dougherty accepted the award from MGIC’s Senior Vice President of Field Operations Cheryl Webb and Lead Account Manager Elyse Mitchell. MGIC is based in Milwaukee and provides mortgage insurance for about 1 million homes.

“It means a lot to our organization that we rose to the top of what MGIC was looking for in a partner. The award really celebrates the work of our entire company, including our exceptional sales force, as well as the operations area,” Dougherty said. “It’s been a great partnership for both of us. We really appreciate their continued work in educating our operations and sales teams.”

Merchants Bank’s Mortgage Operations area provides service and support for the mortgages written by Merchants Bank employees at the Bank’s 21 locations, as well correspondent mortgage services for about 210 community banks across Wisconsin, Minnesota, Iowa, and North and South Dakota. More than 45 Merchants Bank employees support the Mortgage Operations area.

Merchants Bank has 21 locations nearly $1.4 billion in assets. Minnesota locations include Winona, St. Charles, Goodview, Rochester, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Rushford, Lanesboro and Hampton, as well as the southern Twin Cities metropolitan suburbs of Apple Valley, Cottage Grove, Hastings, Rosemount and Lakeville. Wisconsin locations include Onalaska and Eau Claire. 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.

Loans are subject to credit approval.

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