Home Page

Search Winona Post:
   GO   x 
Advanced Search
     
  Issue Date:  
  Between  
  and  
     
  Author:  
   
     
  Column / Category:  
   
     
  Issue:  
  Current Issue  
  Past Issues  
  Both  
   Help      Close     GO   Clear   
     
  Sunday November 23rd, 2014    

 Submit Your Event 
S M T W T F S


 

 

 
 

| PLACE CLASSIFIED AD | PLACE EMPLOYMENT AD |

| Home | Advertise with Us | Circulation | Contact Us | About Us | Send a Letter to the Editor |
 

MFGI posts first half net income (07/31/2013)
Merchants Financial Group, Inc. (MFGI) posted net income of $6,104,872 for the first half of 2013, according MFGI President & CEO Richard L. Mahoney.

“The positive work of our employees over the past several years and over the first six months of this year continue to enhance the value of Merchants Bank,” Mahoney said. “I look forward to their continued great work as we move toward meeting our goals.”

Net income through the first six months is still ahead of plan. It is slightly behind last year’s net income of $6,183,933. Merchants had record profit in 2012 with net income of $12.439 million. Current asset size is $1.3 billion, and Merchants remains in an excellent equity position.

“We continue to look closely at opportunities that become available and fit with our long-term plan,” Mahoney said. Mahoney recently announced his retirement at the end of the year. He will be succeeded by Winona Charter President and MFGI Executive Vice President Rod Nelson.

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. Merchants also has an Employee Stock Ownership Program (ESOP).  

 

   Copyright © 2014, Winona Post, All Rights Reserved.

 

Send this article to a friend:
Your Email: *
Friend's Email: *
 Submit 
 Back Next Page >>

 

  | PLACE CLASSIFIED AD | PLACE EMPLOYMENT AD |

| Home | Advertise with Us | Circulation | Contact Us | About Us | Send a Letter to the Editor |
 

Contact Us to
Advertise in the
Winona Post!