Rick Jaacks has joined Merchants Bank as a vice president/commercial banker, according to Randy Domeyer, senior vice president and commercial banking manager for Merchants in Winona. “Rick’s extensive background in commercial lending will compliment our already talented team,” said Domeyer. “He truly understands the personalized approach to banking that makes a difference for our business customers.” With a banking career that spans more than 30 years, Rick brings strong experience in commercial and ag lending, treasury management and credit quality management to Merchants. He was previously a business development officer for Community Bank and Trust in Iowa and has spent most of his career working for community banks. Rick is also a Small Business Administration (SBA) lending expert.
“Being a community banker is a privilege and I’m looking forward to continuing to embrace the community banking philosophy that’s been so important to Merchants Bank’s success. It’s about getting to know my customers’ individual needs and adding value as their financial partner,” said Jaacks. In Iowa, Jaacks was actively involved with Waterloo Main Street, multiple commissions for the city of Waterloo, served as a board member for the North East Iowa Food Bank and looks forward to becoming involved in the Winona community, as well. He and his wife, Heather, will be relocating to Winona. The Merchants Bank commercial lending team is comprised of more than 40 local experts, available throughout the bank’s regional footprint. In addition to traditional commercial loans, Merchants bankers specialize in ag banking, SBA loans, floor plan financing and equipment lease financing. As a regional banking leader, Merchants can assist businesses of any size with their business financing needs, including treasury management and deposit services. Merchants Bank is a full service community bank with 21 branches in southeastern Minnesota and west-central Wisconsin. Headquartered in Winona, the bank has more than $1.76 billion in assets and was founded in 1875. All banks are Equal Housing Lender and Member FDIC. Loans are subject to approval.