Mercer County State Bank is headquartered in Sandy Lake and is the 79th largest bank in the state of Pennsylvania. It is also the 1,704th largest bank in the nation. It was established in 1911 and as of September of 2020, it had grown to 96 employees at 12 locations. Mercer County State Bank has an A health rating.
My business partner and I chose to work with Mercer County State Bank when looking for a lender in our real estate business. Having a good relationship with a local lender is very important in the buy and hold rental real estate business. This bank came highly recommended by other investors in our network. The commercial lending department in this institution is very competitive and they develop strong business relationships with a number of successful real estate investors in my area. One of their skilled commercial loan officers agreed to meet my partner and I for lunch to discuss our goals and products that the bank has to offer. The loan officer brought an underwriter to the lunch meeting. Having a face to face meeting with these staff members helped to avoid any miscommunication and develop a more personalized approach to the partnership. I am pleased with the experience with this lender so far and I hope to have a good relationship with them for many years to come.
Overall | |
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FDIC Certificate # | 445 |
Year Established | 1911 |
Employees | 96 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.12% |
Return on Equity - YTD | 11.24% |
Annual Interest Income | $13.2MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q3 2020vs Q3 2019 | $474.6MM$437.4MM |
Loans | Q3 2020vs Q3 2019 | $306.8MM$260.3MM |
Deposits | Q3 2020vs Q3 2019 | $399.3MM$364.8MM |
Equity Capital | Q3 2020vs Q3 2019 | $47.4MM$44.6MM |
Loan Loss Allowance | Q3 2020vs Q3 2019 | $3.3MM$3.2MM |
Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $2.2MM$1.3MM |
Real Estate Owned | Q3 2020vs Q3 2019 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.10%* | $5k* | - | Business Checking With Interest | ||
OTHER TIERS: 0.05% → Up to $5k | |||||
0.10% | - | - | Premium Checking | ||
0.05% | - | - | Hometown Advantage |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.70% | $500 | - | 31 Month CD Special |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.60% | $50 | $100k | 60 Month IRA | |
0.45% | $50 | $100k | 48 Month IRA | |
0.40% | $50 | $100k | 24 Month IRA | |
0.40% | $50 | $100k | 36 Month IRA | |
0.30% | $50 | $100k | 12 Month IRA |