Merchants Bank (MN)

Overview / Commentary
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 466th largest bank in the nation. It was established in 1875 and as of September of 2019, it had grown to 400 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 Grade Components

FDIC Certificate #8866
Year Established1875
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD10.07%
Annual Interest Income$62.5MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$1.85B$1.71B
LoansQ3 2019vs Q3 2018$1.52B$1.39B
DepositsQ3 2019vs Q3 2018$1.59B$1.41B
Equity CapitalQ3 2019vs Q3 2018$196.5MM$211.1MM
Loan Loss AllowanceQ3 2019vs Q3 2018$18.9MM$18.4MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$17.9MM$17.3MM
Real Estate OwnedQ3 2019vs Q3 2018$826.00K$3.1MM
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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

5.09%*-$2kMy Future Fund
OTHER TIERS: 1.75% $2k+
0.55%--Winter FUNd
0.55%--Summer FUNd
0.40%*$25k*-HSA Checking
OTHER TIERS: 0.13% Up to $5k | 0.18% $5k - $10k | 0.25% $10k - $15k | 0.35% $15k - $25k
0.36%*$200k*-IRA Savings Account
OTHER TIERS: 0.10% Up to $5k | 0.15% $5k - $25k | 0.18% $25k - $50k | 0.24% $50k - $100k | 0.28% $100k - $200k
0.13%*$2.5k*-Advantage Savings
OTHER TIERS: 0.11% Up to $2.5k
0.11%--Kids Savers Club
0.05%$50-Basic Savings

Merchants Bank (MN) Money Market Rates

1.15%*$1m*-Diamond Money Market
OTHER TIERS: 0.13% Up to $5k | 0.18% $5k - $25k | 0.40% $25k - $50k | 0.55% $50k - $100k | 0.70% $100k - $200k | 1.00% $200k - $1m
0.75%--Funeral Home Money Market
0.50%*$1m*$15mICS Money Market
OTHER TIERS: 0.25% $15m+ | 0.35% Up to $1m

Merchants Bank (MN) Checking Account Rates

1.15%*$1m*-Non Profit Checking
OTHER TIERS: 0.13% Up to $5k | 0.18% $5k - $250k | 0.40% $25k - $50k | 0.55% $50k - $100k | 0.70% $100k - $200k | 1.00% $200k - $1m
0.25%--Repurchase Agreement
0.25%*$1m*$15mICS Demand Deposit
OTHER TIERS: 0.15% Any amount
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
0.10%--Interest Bearing Business Checking

Merchants Bank (MN) CD Rates

0.71%$500-30-35 Month CD
0.71%$500-36 Month & Over CD
0.71%$500-30 - 35 Month HSA CD
0.71%$500-36 Month & Over HSA CD
0.67%$500-24-29 Month CD
0.67%$500-24 - 29 Month HSA CD
0.55%$100-12 Month Home Buyer's CD
0.44%$500-12-23 Month CD
0.44%$500-12 - 23 Month HSA CD
0.40%$500-6-11 Month CD
0.40%$500-6 - 11 Month HSA CD
0.13%$500-3-5 Month CD
0.13%$500-3- 5 Month HSA CD

Merchants Bank (MN) IRA Rates

0.71%$500-30-35 Month IRA CD
0.71%$500-36 Month & Over IRA
0.67%$500-24-29 Month IRA CD
0.52%$500-24 Month "Summit" IRA
0.44%$500-12-23 Month IRA CD


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