Power of Attorney

Know  all  by  these  presents,  that  the  undersigned  Jonathan  Watson,  (the
"Reporting  Person")  hereby  constitutes  and appoints each of Jodi Bachand and
Jamie Oberle as the Reporting Person's true and lawful attorneys-in-fact to:

(1)   execute  for  and  on  behalf  of  the  Reporting Person, in the Reporting
      Person's  capacity  as  a  reporting  person pursuant to Section 16 of the
      Securities  Exchange Act of 1934, as amended (the "Exchange Act"), and the
      rules thereunder of Merchants Bancshares, Inc. (the "Company"), Forms 3, 4
      and 5 in accordance with Section 16(a) of the Exchange Act;

(2)   do  and perform any and all acts for and on behalf of the Reporting Person
      which  may be necessary or desirable to complete and execute any such Form
      3,  4 or 5 and timely file such form with the United States Securities and
      Exchange Commission and any stock exchange or similar authority; and

(3)   take  any  other  action  of  any  type  whatsoever in connection with the
      foregoing  which,  in  the  opinion  of  such  attorney-in-fact, may be of
      benefit to, in the best interest of, or legally required by, the Reporting
      Person,   it   being  understood  that  the  documents  executed  by  such
      attorney-in-fact  on  behalf  of  the  Reporting pursuant to this Power of
      Attorney shall be in such form and shall contain such terms and conditions
      as such attorney-in-fact may approve in her discretion.

The  Reporting Person hereby grants to each such attorney-in-fact full power and
authority  to  do  and perform any and every act and thing whatsoever requisite,
necessary,  or proper to be done in the exercise of any of the rights and powers
herein  granted,  as  fully  to all intents and purposes as the Reporting Person
might  or  could  do  if  personally present, with full power of substitution or
revocation,  hereby  ratifying and confirming all that such attorney-in-fact, or
such  attorney-in-facts substitute or substitutes, shall lawfully do or cause to
be done by the virtue of this Power of Attorney and the rights and powers herein
granted. The Reporting Person acknowledges that the foregoing attorneys-in-fact,
in  serving  in  such  capacity  at the request of the Reporting Person, are not
assuming,   nor   is   the  Company  assuming  any  of  the  Reporting  Persons'
responsibilities to comply with Section 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the Reporting
Person  is  no  longer  required  to  file  Forms 3, 4 and 5 with respect to the
Reporting  Person's  holdings  of  and  transactions in securities issued by the
Company,  unless  earlier  revoked  by  the Reporting Person in a signed writing
delivered to the foregoing attorney-in-fact.

IN WITNESS WHEREOF, the Reporting Person has caused this Power of Attorney to be
executed as of this 1st day of April, 2015.

/s/ Jonathan Watson
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Jonathan Watson