Merchants Bank History
Merchants Bancshares, Inc., a Delaware Corporation, is the bank holding company of the wholly owned subsidiary, Merchants Bank. Merchants Bancshares, Inc. is one of the largest bank holding companies headquartered in the State of Vermont in terms of deposits. The Company acquired controlling interest in the Bank on January 27, 1984, upon exchange of substantially all of the outstanding shares of common stock of the Bank for an equal number of shares of the Company. The objective of forming a bank holding company was to expand the banking and other financial services being offered and the markets in which such services are available.
Merchants Bank was organized in 1849, and took a national charter in 1865, becoming The Merchants National Bank of Burlington, Vermont. The present name was adopted on September 6, 1974, when the Bank converted from a national bank to a state-chartered bank.
Merchants Bank is a full-service, commercial bank offering a complete range of retail and commercial services to businesses, industry, private and government institutions and individuals. The Bank maintains 34 full-service banking offices and five additional ATM-only locations throughout Vermont.
We employ approximately 295 full-time employees and 40 part-time employees.
Merchants Bancshares, Inc. and its wholly owned subsidiary, Merchants Bank, will continue to offer premier customer service and innovative banking products. The mission of Merchants Bank is to provide Vermonters with community banking. This commitment is fulfilled through a community, branch-based system that extends throughout the State of Vermont, employees dedicated to quality customer service and innovative banking products such as Cash Rewards Checking.
Merchants Bank, only, Member FDIC
Connect With Us
Bi-Weekly Mortgages
Make one half of your monthly mortgage payment every two weeks and you reduce your principal, interest paid and length of repayment. Learn more.
eStatements
Save paper and reduce your carbon footprint–a free service for personal online banking customers–sign up today.
Rewards Checking for Business
Earn cash back, enjoy FREE processing of your first 999 items, FREE access to FinanceWorks and more. Click here.