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Companies/Merchants Financial Group, Inc.
Company profile

Merchants Financial Group, Inc.

OTC: MFGI · Financial Services · Banks - Regional
PublicHQ Winona, MN · WinonaReports USD
#297 of 1,011 Financial Services companies by revenue48th-percentile growth
EA Score
56C
FH 53DQ —GM 61SS 68
v0.1 · 45/100 weight · provisional
↑ growth stability, workforce scale · ↓ balance-sheet leverage, disclosure history
Methodology →
Revenue TTM
$164.6M
Rev growth YoY (TTM)
-0.9%
Net income (FY)
$32.4M
Employees
450
Market cap
$323.1M
OverviewFinancialsSegmentsFilingsESGPeople & Places

Financials — latest annual

SEC EDGAR · USD-normalized
ConceptUSDNativeFY
Revenue$174.4M$174.4M2025
Net income$32.4M$32.4M2025
Operating income$41.1M$41.1M2025
Total assets$2.9B$2.9B2025
Liabilities$2.6B$2.6B2025
Equity$307.7M$307.7M2025

Revenue trend

FY2018 – FY2025 · USD
$91.5M
FY18
$110.5M
FY19
$134.6M
FY20
$126.6M
FY21
$122.3M
FY22
$143.8M
FY23
$162.4M
FY24
$174.4M
FY25

Revenue by segment

No segmentation disclosed for this filer. n/a

The read

Merchants Financial Group, Inc. booked $174.4M in FY2025 revenue, growing 7.4% year over year — about the middle of the pack among Financial Services companies we track, at a 18.6% net margin.

Peers · Financial Services
CoastalSouth Bancshares, Inc.47DOxley Bridge Acquisition Limited——Blue Ridge Bankshares, Inc.48DKansas City Life Insurance Company37D
Neighbors
Winona →
Fastenal Company$8.2B90A
Key facts
CEOGregory Evans
SectorFinancial Services
IndustryBanks - Regional
HeadquartersWinona, MN
ExchangeOTC: MFGI
Employees450
IPO date2003-10-07
Latest filings

No filings loaded — no CIK (non-SEC filer).

Financials: SEC EDGAR (XBRL), USD-normalized per IAS 21 · TTM/quarterly + segments: FMP from filed disclosures · Filings: EDGAR submissions. County headcount and EA Score are in progress — see docs/DATA_GAPS.md.
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