Merchants Bank (MN)


Overview / Commentary
507-457-1100
102 East Third Street
Winona, MN 55987

Merchants Bank (MN) is headquartered in WINONA and is the 7th largest bank in the state of Minnesota. It is also the 462nd largest bank in the nation. It was established in 1875 and as of March of 2024, it had grown to 392 employees at 22 locations. Merchants Bank (MN)'s money market rates are 9X the national average, and it has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #8866
Year Established1875
Employees392
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.93%
Return on Equity - YTD8.23%
Annual Interest Income$31.1MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$2.59B$2.52B
LoansQ1 2024vs Q1 2023$2.16B$1.93B
DepositsQ1 2024vs Q1 2023$2.23B$2.18B
Equity CapitalQ1 2024vs Q1 2023$297.9MM$289.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$25.6MM$24MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$12.6MM$7.4MM
Real Estate OwnedQ1 2024vs Q1 2023$1.2MM$803K
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%*$0$2kMy Future Fund
OTHER TIERS: 1.75% $2k+
0.50%*$2.5k*-Advantage Savings
OTHER TIERS: 0.18% $0 - $2.5k
0.35%*$25k*-HSA Checking
OTHER TIERS: 0.20% $0 - $5k | 0.25% $5k - $10k | 0.30% $10k - $15k | 0.32% $15k - $25k
0.18%$50-Basic Savings

Merchants Bank (MN) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.07%*$1m*-Diamond Money Market
OTHER TIERS: 0.50% $0 - $5k | 1.01% $5k - $25k | 1.66% $25k - $50k | 1.92% $50k - $100k | 2.43% $100k - $200k | 3.10% $200k - $1m
3.35%*$15m*-ICS Money Market
OTHER TIERS: 2.58% $0 - $1m | 3.09% $1m - $15m

Merchants Bank (MN) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.07%*$1m*-Non Profit Checking
OTHER TIERS: 0.60% $0 - $5k | 1.01% $5k - $250k | 1.66% $25k - $50k | 1.92% $50k - $100k | 2.43% $100k - $200k | 3.10% $200k - $1m
2.63%*$15m*-ICS Demand Deposit
OTHER TIERS: 1.92% $0 - $1m | 2.38% $1m - $15m
0.40%*$50k*-Partnership Banking
OTHER TIERS: 0.20% $0 - $2.5k | 0.25% $2.5k - $5k | 0.30% $5k - $50k
0.40%*$50k*-Relationship Checking
OTHER TIERS: 0.20% $0 - $2.5k | 0.25% $2.5k - $5k | 0.30% $5k - $50k
0.40%*$50k*-Military Banking
OTHER TIERS: 0.20% $0 - $2.5k | 0.25% $2.5k - $5k | 0.30% $5k - $50k
0.25%$0-Interest Bearing Business Checking

Merchants Bank (MN) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.93%$25k-7 Month CD Special
2.52%$500-36 Month & Over CD
2.42%$500-24-29 Month CD
2.42%$500-30-35 Month CD
2.32%$500-12-23 Month CD
1.56%$500-6-11 Month CD
1.00%$500-3-5 Month CD

Merchants Bank (MN) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.52%$500-36 Month & Over IRA
2.42%$500-24-29 Month IRA CD
2.42%$500-30-35 Month IRA CD
2.32%$500-12-23 Month IRA CD
Locations

Availability



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