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June 30, 2015 11:09 AM ET


Company Overview of Merchants Bank

Company Overview

Merchants Bank, a state-chartered bank, provides a range of retail and commercial banking products and services to businesses, industry, private and government institutions, and individuals in Vermont. It offers checking accounts, savings accounts, compare accounts, money market accounts, certificates of deposit, mortgages, bi-weekly mortgages, home equity lines and loans, auto loans, personal loans, lines of credit, term loans/commercial mortgages, debit cards, overdraft coverage, overdraft assurance, reorder checks, cash management services, and online and mobile banking services. Merchants Bank was formerly known as The Merchants National Bank Of Burlington and changed its name to Merchan...

275 Kennedy Drive

South Burlington, VT 05403

United States

Founded in 1849





Key Executives for Merchants Bank

Chief Executive Officer and President
Age: 49
Chief Financial Officer, Executive Vice President, Treasurer, Chief Financial Officer of Merchants Bancshares Inc, Executive Vice President of Merchants Bancshares Inc and Treasurer of Merchants Bancshares Inc
Age: 54
Chief Operating Officer and Executive Vice President
Age: 47
Director, Chief Executive Officer of Merchants Bancshares Inc, President of Merchants Bancshares Inc and Director of Merchants Bancshares Inc
Age: 59
President of Fair Haven Branch
Compensation as of Fiscal Year 2014.

Merchants Bank Key Developments

Donald R. Chase to Be Appoint to the Merchants Bancshares Inc. and Merchants Bank

On April 27, 2015, Merchants Bancshares Inc. (Merchants), the parent company of Merchants Bank, announced the execution of a definitive agreement and plan of merger with NUVO Bank & Trust Company, pursuant to which Merchants will acquire NUVO. The transaction will be structured as a merger of NUVO with and into Merchants Bank. In accordance with the agreement, Donald R. Chase, Chairman of the Board of Directors of NUVO, will be appointed to the Boards of Directors of Merchants and Merchants Bank. In addition, Merchants has entered into employment agreements with M. Dale Janes, NUVO's Chief Executive Officer, and Jeffrey S. Sattler, NUVO's President and Chief Loan Officer.

Merchants Bank Names Jonathan Watson to Senior Vice President and Chief Risk Officer

Merchants Bancshares Inc. unit Merchants Bank on April 7, 2015 announced that it promoted Jonathan Watson to senior vice president and chief risk officer. Watson has more than a decade of banking experience, primarily in internal audit and risk advisory services.

Merchants Bank Announces Executive Changes

Merchants Bank announced a number of executive officer changes. Effective January 1, 2015, Marie Thresher, Chief Risk Officer and Senior Vice President, will be promoted to Chief Operating Officer and Executive Vice President of the company, and Bruce Bernier, Regional Manager of Commercial Banking and Vice President, will be promoted to Senior Lender and Senior Vice President of Merchants Bank. Ms. Thresher joined Merchants Bancshares in December 2013 as Chief Risk Officer and Senior Vice President. In addition, Laura Abbott, Senior Credit Officer and Vice President at Merchants Bank will be promoted to Senior Vice President, effective January 1, 2015. Mr. Hesslink also announced Zoe P. Erdman's departure from Merchants Bank and from her position as Senior Operations Officer and Senior Vice President, effective December 19, 2014.

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