Merchants Bank (MN) is headquartered in Winona and is the 6th largest bank in the state of Minnesota. It is also the 426th largest bank in the nation. It was established in 1875 and as of June of 2022, it had grown to 404 employees at 24 locations. Merchants Bank (MN)'s money market rates are 5X the national average, and it has a B+ health rating.
Overall | |
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FDIC Certificate # | 8866 |
Year Established | 1875 |
Employees | 404 |
Primary Regulator | OCC |
Profit Margin | |
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Return on Assets - YTD | 1.08% |
Return on Equity - YTD | 11% |
Annual Interest Income | $43.7MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2022vs Q2 2021 | $2.65B$2.71B |
Loans | Q2 2022vs Q2 2021 | $1.66B$1.65B |
Deposits | Q2 2022vs Q2 2021 | $2.34B$2.39B |
Equity Capital | Q2 2022vs Q2 2021 | $271.5MM$268.1MM |
Loan Loss Allowance | Q2 2022vs Q2 2021 | $27.2MM$29.9MM |
Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $12.4MM$13.8MM |
Real Estate Owned | Q2 2022vs Q2 2021 | $964.00K$2.5MM |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
2.50% | $500 | - | 36 Month & Over CD | |
2.25% | $500 | - | 30-35 Month CD | |
2.00% | $500 | - | 24-29 Month CD | |
1.50% | $500 | - | 12-23 Month CD | |
1.00% | $500 | - | 6-11 Month CD | |
0.60% | $500 | - | 3-5 Month CD |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
2.50% | $500 | - | 36 Month & Over IRA | |
2.25% | $500 | - | 30-35 Month IRA CD | |
2.00% | $500 | - | 24-29 Month IRA CD | |
1.50% | $500 | - | 12-23 Month IRA CD |