Merchants Financial Group, Inc. is a holding company, which engages in the provision of retail, commercial loan, and deposit services. The company is headquartered in Winona, Minnesota. The company went IPO on 2001-07-24. The firm's subsidiary, Merchants Bank, National Association (the Bank). The Bank has branch operations in Winona, Goodview, Rushford, Lanesboro, St. Charles, Rochester, La Crescent, Caledonia, Spring Grove, Cannon Falls, Red Wing, Hampton, Hastings, Apple Valley, Lakeville, Cottage Grove and Rosemount in the state of Minnesota; and Onalaska and Eau Claire in the state of Wisconsin. The Bank provides retail, commercial loan and deposit services principally to customers within a 50-mile radius of the Bank's locations. The Bank operates trust and investment services. Loans the Company originates with the intent to sell them in the secondary market are classified as held for sale. Loans held for sale consist of first mortgage loans that are secured by residential real estate.
