A new director was elected to the Winona-based Merchants Bank's board this week during its annual meeting and two others were re-elected.
Merchants' new president and CEO, Greg Evans, was elected to a three-year term. Evans replaces former president Rodney Nelson, who retired at the end of January.
Amid the changes, the bank has reported record earnings in both 2015 and 2016.
"One of the reasons we were able to experience a second consecutive record year has been the leadership of the MFGI board of directors and the leadership Rod exhibited as MFGI president and CEO," Evans said during Thursday's annual meeting.
Kenneth Mogren, who is the former president of the Winona Agency, Inc., and Rick Lommen Jr., president and owner Courtesy Corp., which is based in of Onalaska, Wis., owns the six McDonald'srestaurants in Rochester, as well as others in the region.
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Beyond Rochester and Winona, Merchants also has Minnesota branches in St. Charles, Goodview, Rushford, Lanesboro, Caledonia, La Crescent, Spring Grove, Cannon Falls, Red Wing, Hampton, Apple Valley, Cottage Grove, Hastings, Lakeville and Rosemount. Merchants also has Wisconsin locations in Eau Claire and Onalaska.
