Merchants Bank (MN)

Overview / Commentary
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.

Related Posts

View all posts from:


No reviews have been left for this bank yet. Be the first to review.


Health Grade Components

FDIC Certificate #8866
Year Established1875
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
Report an Issue

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%*$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

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

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

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

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


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.