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Merchants sees $3.7 million growth

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business Red Wing, 55066
Red Wing Minnesota 2760 North Service Drive / P.O. Box 15 55066

 Merchants Financial Group ended 2012 with $12.4 million in net income, an increase of nearly $3.7 million over 2011, according to President Richard L. Mahoney.

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The Merchants organization expanded its loan portfolio from $754.5 million in 2011 to $867.2 million in 2012. Equity increased from $105.2 million in 2011 to $112.2 million in 2012. Assets for Merchants were at $1.28 billion in 2012, as opposed to $1.25 billion in 2011.

Merchants Bank locations include Cannon Falls and Red Wing.

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