WINONA, Minn. – The publicly held Merchants Financial Group, which operates Merchants National Bank, is splitting its stock 3-for-1. In effect, it’s a 200% stock dividend that gives investors an additional two shares for each share they own. The stock split reflects record earnings, the company said. Last year’s net income was $28.7 million, a 33.8% increase, The company also announced two new board members:
> Molly Jungbauer, of Mendota Heights, chief executive officer at Hollstadt Consulting.
> James Rogers III, of Rochester, chief business development officer at Mayo Clinic.