Merchants Bank to acquire historic Northfield bank
May 8, 2019
Merchants Bank and the First National Bank of Northfield have reached an agreement for Merchants to acquire the Northfield banking institution, according to Gregory M. Evans, president and CEO of Merchants Financial Group.
The First National Bank of Northfield has $207 million in assets, $157 million in loans (plus an additional $60 million in sold loan participations) and $183 million in deposits.
First National was chartered in Northfield in 1873 and Merchants' history began in Winona in 1875.