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Merchants Bank (MN)


Overview / Commentary
www.merchantsbank.com
507-457-1100
102 East Third Street
Winona, MN 55987

Merchants Bank (MN) is headquartered in Winona and is the 6th largest bank in the state of Minnesota. It is also the 464th largest bank in the nation. It was established in 1875 and as of December of 2019, it had grown to 398 employees at 23 locations. Merchants Bank (MN)'s savings rates are 10X the national average, and it has an A health rating.

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Health
A

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #8866
Year Established1875
Employees398
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.24%
Return on Equity - YTD10.57%
Annual Interest Income$84.6MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.86B$1.77B
LoansQ4 2019vs Q4 2018$1.56B$1.43B
DepositsQ4 2019vs Q4 2018$1.61B$1.44B
Equity CapitalQ4 2019vs Q4 2018$199.9MM$215.2MM
Loan Loss AllowanceQ4 2019vs Q4 2018$19.2MM$18.5MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$16.7MM$22.2MM
Real Estate OwnedQ4 2019vs Q4 2018$442.00K$1.3MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Merchants Bank (MN); we are a rate comparison website and cannot provide official rates or promotions.

* 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.

Merchants Bank (MN) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.09%*-$2kMy Future Fund
OTHER TIERS: 1.75% → $2k+
0.50%†--Winter FUNd
0.50%†--Summer FUNd
0.35%*†$25k*-HSA Checking
OTHER TIERS: 0.10% → Up to $5k | 0.15% → $5k - $10k | 0.20% → $10k - $15k | 0.30% → $15k - $25k
0.32%*†$200k*-IRA Savings Account
OTHER TIERS: 0.10% → Up to $5k | 0.13% → $5k - $25k | 0.16% → $25k - $50k | 0.22% → $50k - $100k | 0.25% → $100k - $200k
0.10%†--Kids Savers Club
0.10%†--Advantage Savings
0.05%†$50-Basic Savings

Merchants Bank (MN) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*†$1m*-Diamond Money Market
OTHER TIERS: 0.10% → Up to $5k | 0.15% → $5k - $25k | 0.30% → $25k - $50k | 0.50% → $50k - $100k | 0.65% → $100k - $200k | 0.80% → $200k - $1m
0.67%†--Funeral Home Money Market
0.65%*†$1m*$15mICS Money Market
OTHER TIERS: 0.25% → $15m+ | 0.35% → Up to $1m

Merchants Bank (MN) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$1m*-Non Profit Checking
OTHER TIERS: 0.10% → Up to $5k | 0.15% → $5k - $250k | 0.30% → $25k - $50k | 0.50% → $50k - $100k | 0.65% → $100k - $200k | 0.80% → $200k - $1m
0.35%*†$1m*$15mICS Demand Deposit
OTHER TIERS: 0.15% → Any amount
0.25%†--Repurchase Agreement
0.14%*†$50k*-Partnership Banking
OTHER TIERS: 0.06% → Up to $2.5k | 0.08% → $2.5k - $5k | 0.10% → $5k - $50k
0.14%*†$50k*-Relationship Checking
OTHER TIERS: 0.06% → Up to $2.5k | 0.08% → $2.5k - $5k | 0.10% → $5k - $50k
0.14%*†$50k*-Veterans Preferred Banking
OTHER TIERS: 0.06% → Up to $2.5k | 0.08% → $2.5k - $5k | 0.10% → $5k - $50k
0.08%†--Interest Bearing Business Checking

Merchants Bank (MN) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.67%†$500-30-35 Month CD
0.67%†$500-36 Month & Over CD
0.67%†$500-30 - 35 Month HSA CD
0.67%†$500-36 Month & Over HSA CD
0.65%†$500-24-29 Month CD
0.65%†$500-24 - 29 Month HSA CD
0.50%†$100-12 Month Home Buyer's CD
0.37%†$500-12-23 Month CD
0.37%†$500-12 - 23 Month HSA CD
0.31%†$500-6-11 Month CD
0.31%†$500-6 - 11 Month HSA CD
0.10%†$500-3-5 Month CD
0.10%†$500-3- 5 Month HSA CD

Merchants Bank (MN) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.67%†$500-30-35 Month IRA CD
0.67%†$500-36 Month & Over IRA
0.65%†$500-24-29 Month IRA CD
0.52%†$500-24 Month "Summit" IRA
0.37%†$500-12-23 Month IRA CD
Locations

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