BNET Industries

Merchants Bank

is in the Financial Services Industry

Last Fiscal Year Sales:$10.0M
  • Private
  • US
Dow Jones Description

Merchants Bank is a traditional, but progressive, locally owned institution serving the people of Clarke, Washington, Mobile and surrounding counties. Merchants Bank opened its doors to its downtown Jackson location in 1962. Merchants Bank had a modest beginning with a staff of only three officers, five employees and assets of $400,000.00. As traffic flows and demographics changed, it expanded to a second location in 1978. The new location on College Avenue became its main office. In 1997, the opportunity to expand into the Grove Hill market availed itself through the Grove Hill office of United Security Bank becoming available for purchase. Merchants Bank purchased this office on October 31, 1997 and opened for its first day of business on November 1, 1997 . Merchants Bank opened its fourth office in the Thomasville area. This office was opened September 5, 2000. Merchants Bank has now opened its fifth office in the Mobile area. This office was opened June 29, 2007. In keeping up with the latest innovations/services and making them available to their customers, Merchants has maintained a steady and rapid growth and now employs a staff of over seventy and has assets of over $175 million. While a full service institution, its primary focuses are residential real estate, business, timberland loans and retail deposits.

Chief Executive Officer
Michael R. Tuttle
Number of Employees 75
Contact Information

1901 College Ave

Jackson, Alabama 36545

www.merchantsbk...

(251) 246-4425

NAICS Code Commercial Banking: 522110

Recent Events

  • Merchants Bank names Silva president

    11/03/09 - Mgmt. Change Entering - President - View Story

  • Merchants Bank records profit of 4.8b yuan in third quarter

    10/30/09 - Financial Announcement - View Story

  • /C O R R E C T I O N -- Merchants Bancshares, Inc./

    10/30/09 - Stock Split / Dividend - View Story

  • China Merchants Bank has no issuance plans for 3 yrs-paper

    10/15/09 - New Investment - View Story

  • Merchants Bank shares fall after weak results

    9/01/09 - Financial Announcement - View Story

News & Analysis

merchants bank - All News and Analysis

  • Merchants Bancshares, Inc. Announces 2009 Second Quarter Results

    - 2009-07-29

    SOUTH BURLINGTON, Vt., July 29 /PRNewswire-FirstCall/ -- Merchants Bancshares, Inc. , the parent company of Merchants Bank, today announced net income of $2.06 million and $4.97 million, or diluted earnings per share of $0.34 and $0.82, for the quarter and six months ended June 30, 2009, respectively....

    Tags: Merchants Bank

  • Merchants Bancshares, Inc. Announces Dividend Declaration, Earnings Release Calendar and Addition to Russell 3000 Index

    - 2009-07-16

    SOUTH BURLINGTON, Vt., July 16 /PRNewswire-FirstCall/ -- Merchants Bancshares, Inc. , the parent company of Merchants Bank, announced today that its Board of Directors declared a dividend of 28 cents per share, payable August 13, 2009, to shareholders of record as of July 30, 2009. Merchants plans...

    Tags: Merchants Bank

  • NEW BEDFORD WHALING MUSEUM

    - 2009-06-01

    "Classic Whaling Prints" opened at the New Bedford Whaling Museum, New Bedford, Massachusetts, on 27 February. It can be viewed through the end of the year. The exhibition, organized and written by Dr. Stuart M. Frank, traces the most-important and mostinfluential pictorial images of whaling through four centuries, from one...

    Tags: Merchants Bank

  • 2009 BEST PLACES TO WORK IN VERMONT: Merchants Bank

    - 2009-04-01

    Merchants Bank 275 Kennedy Drive, South Burlington, VT 05403 Phone: 802-658-1900 Web: www.mbvt.com Industry: Banking President/CEO: Michael Tuttle Full-time employees: 279 Independently owned statewide community bank with a branch-based system that includes 36 community bank offices and 44 ATMS throughout Vermont, Personal Bankers dedicated to top-quality customer service and...

    Tags: Merchants Bank

  • Terminating Commitment Letters based on MAC Clauses

    - 2008-10-01

    Material adverse change clauses benefit all parties to a transaction. The initial negotiations between a lender and borrower in a loan or equipment financing transaction often culminate in a term sheet or commitment letter. A term sheet is usually not intended to be legally binding on the parties,...

    Tags: Merchants Bank

Decision Makers

Name (plus bio) Position
Michael R. Tuttle Chief Executive Officer
Thomas S Leavitt Executive Vice President for Merchants Bank's Community Banking Operation
F. Sheldon Prentice General Counsel & Senior Vice President
James L. Sampson Jr. Senior Vice President, Lending
Sue Hovell Senior Vice President
James F. Stortz Vice President, Senior Commercial Lender
Joe Attinello AVP, Residential Lending Officer
Kathy Jensen Vice President
Michael G. Boulos AVP, Residential Lending Officer
Ruth Ann Impeciati AVP, Senior Consumer Loan Field Officer
Terri Henley Vice President
Anita Achey
Diane Murphy
Mary Marshall
Theresa Mollo
John A. Kane Director

Board of Directors

Name (plus bio) Position
Richard M. Hotchkiss Chairman
James S. Garofalo Board of Directors
Karen Danaher Board of Directors

Michael Tuttle has served as president and chief executive officer of Merchants Bank, a commercial bank headquartered in Burlington, Vermont, since January 2006. He served the bank earlier as chief operating officer and senior lender. Tuttle is also a director of Merchants Bancshares, Inc. and serves on the boards of United Way of Chittenden County and the Flynn Center for the Performing Arts.

Organization Position Status
Merchants Bank Chief Executive Officer Current
Merchants Bank President Current
FairPoint Communications Inc. Board of Directors Current

Organization Position Status
Merchants Bank Executive Vice President for Merchants Bank's Community Banking Operation Current
Merchants Trust Company Vermont Chairman Current
Wharton Graduate School of the University of Pennsylvania MBA In Corporate Finance Former
University of New Hampshire BS Former

Organization Position Status
Merchants Bank General Counsel & Senior Vice President Current

Organization Position Status
Merchants Bank Senior Vice President, Lending Current

Sue Hovell is the Senior Vice President/Retail Banking Manager for Merchants Bank. She has worked for the Merchants organization for 19 years. In her position, Hovell is responsible for all areas serving the consumer clients for Merchants Bank, including Deposit Account Services, Personal Lending, Mortgage Banking, Credit Cards, and Teller Services. In addition to her 16 years of work experience with the Merchants organization, Hovell spent two years as Supervisory Management Instructor/Coordinator for Minnesota State College/Southeast Technical. She also serves as an independent consultant/trainer for a number of area companies in areas related to productivity, efficiency, service quality and strategic planning. Hovell is originally from Ettrick, Wis., and is a graduate of G-E-T High School. She has earned a Bachelor of Science Degree in Paralegal from Winona State University and a Master or Arts in Management Degree from Saint Mary's University. She has been active as a volunteer for a number of Winona area organizations, including Winona Health, Winona ORC, and the American Red Cross. She and her husband, Raymond, live in rural Galesville, Wis.

Organization Position Status
Merchants Bank Senior Vice President Current
Merchants Bank Retail Banking Manager Current
Winona State University Bachelor of Science Degree Former

Organization Position Status
Merchants Bank Vice President, Senior Commercial Lender Current

Organization Position Status
Merchants Bank AVP, Residential Lending Officer Current

Organization Position Status
Merchants Bank Vice President Current
Mediation Services for Anoka County Interim Executive Director Current
Rochester Mom-Camp Co Current
Mediation Services for Anoka County Program Services Manager Former
Merchants Bank Commercial Loan Officer Former
The State Bank Former
Winona State University Bachelor of Science In Language Arts Former
University of Minnesota Bachelor of Arts In English Former

Organization Position Status
Merchants Bank AVP, Residential Lending Officer Current

Organization Position Status
Merchants Bank AVP, Senior Consumer Loan Field Officer Current

Organization Position Status
Merchants Bank Vice President Current

Organization Position Status
Merchants Bank Current

Organization Position Status
Merchants Bank Current

Organization Position Status
Merchants Bank Current

Organization Position Status
Merchants Bank Current

Organization Position Status
Merchants Bank Chairman Current

Organization Position Status
Merchants Bank Board of Directors Current
Merchants Bank President Former

Organization Position Status
Spheris Inc. Board of Directors Current
Dairyland Healthcare Solutions Board of Directors Current
Merchants Bank Director Current
Merchants Bancshares, Inc. Director Current
Athenahealth, Inc. Board of Directors Current
IDX Systems Corporation Chief Financial Officer Former
IDX Systems Corporation Senior Vice President, Finance and Administration Former
IDX Systems Corporation Treasurer Former

Organization Position Status
Merchants Bank Board of Directors Current
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