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Merchants Bancshares, Incorporated (MBVT)

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Michael R. Tuttle , CEO/President/Director
Industry: Finance
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Company Information

Michael R. Tuttle, CEO/President/Director

275 Kennedy Drive

South Burlington, VT 05403

US Map it

Phone: (802) 658-3400

Fax: (802) 865-1874

www.mbvt.com



Overview

The Company, through its subsidiary, offers a range of deposit, loan, cash management and trust services to meet the financial needs of individual consumers, businesses and municipalities throughout the state of Vermont.

Employees

Number of Employees: 259
Revenue per Employee: $285,422

Top Executives

Joseph L. Boutin, Other Corporate Officer
James F. Scott, Other Corporate Officer
Zoe P. Erdman, Other Corporate Officer

Janet P. Spitler, CFO/Treasurer/Senior VP, Subsidiary
Thomas S. Leavitt, Executive VP, Subsidiary
F. Sheldon Prentice, Senior VP/General Counsel

Geoffrey R. Hesslink, Subsidiary Senior VP/Other Corporate Officer
Molly Dillon, Senior VP, Subsidiary
Thomas R. Havers, Subsidiary Senior VP/Other Corporate Officer

Board of Directors

Peter A. Bouyea, Director
Lorilee A. Lawton, Director
Jeffrey L. Davis, Director

Patrick S. Robins, Director
Janet P. Spitler, CFO/Treasurer/Senior VP, Subsidiary
Dr. Robert A. Skiff, Jr., Ph.D., Director

Scott F. Boardman, Director Nominee
Michael G. Furlong, Director/Chairman of the Board, Subsidiary
Bruce M. Lisman, Director

Raymond C. Pecor, Jr., Chairman of the Board/Director
Karen Danaher, CPA, Director
John A. Kane, Director

Financials

Quarterly
Annual

Income Statement 09/2008 05/2008 03/2008 10/2007
Sales NA NA NA NA
Gross Operating Profit 10.25 Mil. 10.27 Mil. 10.74 Mil. 9.89 Mil.
Operating Income before D & A (EBITDA) 10.25 Mil. 10.27 Mil. 10.74 Mil. 9.89 Mil.
Total Income Before Interest Expenses (EBIT) 10.25 Mil. 10.27 Mil. 10.74 Mil. 9.89 Mil.
Total Net Income 2.88 Mil. 2.66 Mil. 2.92 Mil. 2.63 Mil.
Basic EPS, Total 0.48 0.44 0.48 0.43
Diluted EPS, Total 0.48 0.44 0.47 0.43

BALANCE STATEMENT 09/2008 05/2008 03/2008 10/2007
Cash and Equivalents NA NA NA NA
Total Assets NA NA NA NA
Total Liabilities NA NA NA NA
Total Capitalization NA NA NA NA

Cash Flow 09/2008 05/2008 03/2008 10/2007
Net Cash From Continuing Operations NA NA NA NA
Net Cash From Investing Activities -123.57 Mil. -30.72 Mil. -63.41 Mil. -16.34 Mil.
Net Cash From Financing Activities 114.17 Mil. 38.2 Mil. 18.91 Mil. -32.94 Mil.
Net Change in Cash & Cash Equivalents -1.05 Mil. 13.09 Mil. -28.89 Mil. -29.37 Mil.

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Income Statement 2008 2007 2006 2005
Sales NA NA NA NA
Gross Operating Profit 40.5 Mil. 37.46 Mil. 29.53 Mil. 23.88 Mil.
Operating Income before D & A (EBITDA) 40.5 Mil. 37.46 Mil. 29.53 Mil. 23.88 Mil.
Total Income Before Interest Expenses (EBIT) 40.5 Mil. 37.46 Mil. 29.53 Mil. 23.88 Mil.
Total Net Income 10.86 Mil. 10.87 Mil. 11.9 Mil. 11.93 Mil.
Basic EPS, Total 1.77 1.73 1.88 1.91
Diluted EPS, Total 1.76 1.73 1.87 1.9

BALANCE STATEMENT 2008 2007 2006 2005
Cash and Equivalents NA NA NA NA
Total Assets NA NA NA NA
Total Liabilities NA NA NA NA
Total Capitalization NA NA NA NA

Cash Flow 2008 2007 2006 2005
Net Cash From Continuing Operations NA NA NA NA
Net Cash From Investing Activities -63.41 Mil. -34.16 Mil. -51.44 Mil. -68.52 Mil.
Net Cash From Financing Activities 18.91 Mil. 48.86 Mil. 35.66 Mil. 58.14 Mil.
Net Change in Cash & Cash Equivalents -28.89 Mil. 33.49 Mil. 4.89 Mil. 5.43 Mil.

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