Mercer County State Bank is headquartered in Sandy Lake and is the 76th largest bank in the state of Pennsylvania. It is also the 1,612th largest bank in the nation. It was established in 1911 and as of June of 2022, it had grown to 102 employees at 11 locations. Mercer County State Bank's money market rates are 2X the national average, and it has a B+ 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 | 102 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.12% |
Return on Equity - YTD | 15.37% |
Annual Interest Income | $9.4MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2022vs Q2 2021 | $552.1MM$538.9MM |
Loans | Q2 2022vs Q2 2021 | $332.1MM$312.6MM |
Deposits | Q2 2022vs Q2 2021 | $480.2MM$461.4MM |
Equity Capital | Q2 2022vs Q2 2021 | $32.3MM$48.7MM |
Loan Loss Allowance | Q2 2022vs Q2 2021 | $3.8MM$3.5MM |
Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $2.6MM$1.6MM |
Real Estate Owned | Q2 2022vs Q2 2021 | $94.00K$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%* | $2.5k* | - | Premium Checking | ||
OTHER TIERS: 0.05% → Up to $2.5k | |||||
0.03% | - | - | Business Checking With Interest | ||
0.03% | - | - | Hometown 50+ Checking |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.55% | $50 | $100k | 60 Month IRA | |
0.40% | $50 | $100k | 48 Month IRA | |
0.35% | $50 | $100k | 24 Month IRA | |
0.35% | $50 | $100k | 36 Month IRA | |
0.25% | $50 | $100k | 12 Month IRA |