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Merchants Bank (MN)

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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 4^th largest bank in the state of Minnesota. It is also the 396^th largest bank in the nation. It was established in 1875 and as of March of 2021, it had grown to 422 employees at 24 locations. Merchants Bank (MN) has an A health rating.

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2016
2007

7/23 - Merchants Bank (MN/WI) Offers "Growth Spurt" CD Specials
7/17 - 45-Month CD Special In Winona MN

7/27 - 6.00% 7-Month CD at a Minnesota Bank (First National Bank)

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Health

A

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	8866
Year Established	1875
Employees	422
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	1.54%
Return on Equity - YTD	15.74%
Annual Interest Income	$23.6MM

Assets and Liabilities
Assets	Q1 2021vs Q1 2020	$2.75B$1.90B
Loans	Q1 2021vs Q1 2020	$1.74B$1.55B
Deposits	Q1 2021vs Q1 2020	$2.43B$1.63B
Equity Capital	Q1 2021vs Q1 2020	$261.7MM$203.8MM
Loan Loss Allowance	Q1 2021vs Q1 2020	$31.6MM$20.3MM
Unbacked Noncurrent Loans	Q1 2021vs Q1 2020	$14.8MM$17.3MM
Real Estate Owned	Q1 2021vs Q1 2020	$2.6MM$442.00K

Rates

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Money Market
Checking
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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.

Merchants Bank (MN) Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
5.09%^*^†	-	$2k	My Future Fund
OTHER TIERS: 1.75% → $2k+
0.21%^*^†	$200k^*	-	IRA Savings Account
OTHER TIERS: 0.05% → Up to $5k \| 0.07% → $5k - $25k \| 0.10% → $25k - $50k \| 0.15% → $50k - $100k \| 0.18% → $100k - $200k
0.15%^†	-	-	Winter FUNd
0.15%^†	-	-	Summer FUNd
0.12%^*^†	$25k^*	-	HSA Checking
OTHER TIERS: 0.01% → Up to $5k \| 0.07% → $5k - $10k \| 0.09% → $10k - $15k \| 0.11% → $15k - $25k
0.05%^†	-	-	Kids Savers Club
0.05%^†	-	-	Advantage Savings
0.03%^†	$50	-	Basic Savings

Merchants Bank (MN) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.38%^*^†	$1m^*	-	Diamond Money Market
OTHER TIERS: 0.05% → Up to $5k \| 0.07% → $5k - $25k \| 0.12% → $25k - $50k \| 0.15% → $50k - $100k \| 0.20% → $100k - $200k \| 0.25% → $200k - $1m
0.28%^†	-	-	Funeral Home Money Market
0.25%^*^†	$1m^*	$15m	ICS Money Market
OTHER TIERS: 0.15% → Any amount

Merchants Bank (MN) Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.38%^*^†	$1m^*	-	Non Profit Checking
OTHER TIERS: 0.05% → Up to $5k \| 0.07% → $5k - $250k \| 0.12% → $25k - $50k \| 0.15% → $50k - $100k \| 0.20% → $100k - $200k \| 0.25% → $200k - $1m
0.20%^†	-	-	Repurchase Agreement
0.20%^*^†	$1m^*	$15m	ICS Demand Deposit
OTHER TIERS: 0.10% → Any amount
0.09%^*^†	$50k^*	-	Partnership Banking
OTHER TIERS: 0.04% → Up to $2.5k \| 0.06% → $2.5k - $5k \| 0.08% → $5k - $50k
0.09%^*^†	$50k^*	-	Relationship Checking
OTHER TIERS: 0.04% → Up to $2.5k \| 0.06% → $2.5k - $5k \| 0.08% → $5k - $50k
0.09%^*^†	$50k^*	-	Veterans Preferred Banking
OTHER TIERS: 0.04% → Up to $2.5k \| 0.06% → $2.5k - $5k \| 0.08% → $5k - $50k
0.07%^†	-	-	Interest Bearing Business Checking

Merchants Bank (MN) CD Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.28%^†	$500	-	36 Month & Over CD
0.28%^†	$500	-	36 Month & Over HSA CD
0.25%^†	$500	-	30-35 Month CD
0.25%^†	$500	-	30 - 35 Month HSA CD
0.20%^†	$500	-	24-29 Month CD
0.20%^†	$500	-	24 - 29 Month HSA CD
0.15%^†	$100	-	12 Month Home Buyer's CD
0.11%^†	$500	-	12-23 Month CD
0.11%^†	$500	-	12 - 23 Month HSA CD
0.06%^†	$500	-	6-11 Month CD
0.06%^†	$500	-	6 - 11 Month HSA CD
0.01%^†	$500	-	3-5 Month CD
0.01%^†	$500	-	3- 5 Month HSA CD

Merchants Bank (MN) IRA Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.28%^†	$500	-	36 Month & Over IRA
0.25%^†	$500	-	30-35 Month IRA CD
0.24%^†	$500	-	24 Month "Summit" IRA
0.20%^†	$500	-	24-29 Month IRA CD
0.11%^†	$500	-	12-23 Month IRA CD

Locations

Availability

La Crosse Area

La Crosse Area bank & credit union details

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