Bank of the Week: Merchants State Bank

  • Their headquarters is located in Freeman, with branch locations in Hurley, Viborg and Irene.
  • Employees: 32
  • Merchants State Bank was charted in 1899, and was purchased by Harris Hofer in 1968. Their CFO (and ICBSD Board Member, and ICBA Federal Delegate) Emily Hofer is the third generation of the Hofer family to be part of the bank!
  • They are highly involved in all of the communities they are located in. For example, every year they host a chili cook off. We’re told it’s highly anticipated and competitive! Their namesake, Merchants State Bank Field, is located in Freeman.
  • The Make a Wish Foundation was an organization near and dear to former president and CEO Ted Hofer. Since his passing, every year the bank holds the Ted Hofer Memorial Hunt with all proceeds benefiting Make a Wish. They have raised $400,000 thus far!