WINONA, Minn. – Merchants Financial Group, which operates Winona-based Merchants National Bank, announced first-quarter net income of $7.4 million. Directors authorized a semiannual dividend to shareholders of 30 cents per share — a 5% increase. Greg Evans, chief executive, noted that although the banking industry overall had suffered from a “lack of tailwinds,” Merchants had extraordinary performance. Evans credited a disciplined focus on fundamentals like credit quality and customer experience.
Earlier: Merchants bank earnings at record