Merchants Bank (MN)

Overview / Commentary
102 East Third Street
Winona, MN 55987

Merchants Bank (MN) is headquartered in Winona and is the 4th largest bank in the state of Minnesota. It is also the 409th largest bank in the nation. It was established in 1875 and as of March of 2022, it had grown to 417 employees at 24 locations. Merchants Bank (MN) has an A health rating.


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Health Grade Components

FDIC Certificate #8866
Year Established1875
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.12%
Return on Equity - YTD11.62%
Annual Interest Income$21.3MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$2.82B$2.75B
LoansQ1 2022vs Q1 2021$1.60B$1.74B
DepositsQ1 2022vs Q1 2021$2.52B$2.43B
Equity CapitalQ1 2022vs Q1 2021$272.7MM$261.7MM
Loan Loss AllowanceQ1 2022vs Q1 2021$27.1MM$31.6MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$12.1MM$14.8MM
Real Estate OwnedQ1 2022vs Q1 2021$964.00K$2.6MM
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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+
0.12%*$25k*-HSA Checking
OTHER TIERS: 0.01% Up to $5k | 0.07% $5k - $10k | 0.09% $10k - $15k | 0.11% $15k - $25k
0.05%*$2.5k*-Advantage Savings
OTHER TIERS: 0.03% Up to $2.5k
0.03%$50-Basic Savings

Merchants Bank (MN) Money Market Rates

0.35%*$1m*-Diamond Money Market
OTHER TIERS: 0.05% Up to $5k | 0.07% $5k - $25k | 0.12% $25k - $50k | 0.15% $50k - $100k | 0.18% $100k - $200k | 0.22% $200k - $1m
0.22%*$1m*$15mICS Money Market
OTHER TIERS: 0.15% Any amount

Merchants Bank (MN) Checking Account Rates

0.35%*$1m*-Non Profit Checking
OTHER TIERS: 0.05% Up to $5k | 0.07% $5k - $250k | 0.12% $25k - $50k | 0.15% $50k - $100k | 0.18% $100k - $200k | 0.22% $200k - $1m
0.16%*$1m*$15mICS Demand Deposit
OTHER TIERS: 0.08% Any amount
0.07%*$50k*-Partnership Banking
OTHER TIERS: 0.02% Up to $2.5k | 0.04% $2.5k - $5k | 0.05% $5k - $50k
0.07%--Interest Bearing Business Checking
0.07%*$50k*-Relationship Checking
OTHER TIERS: 0.02% Up to $2.5k | 0.04% $2.5k - $5k | 0.05% $5k - $50k
0.07%*$50k*-Military Banking
OTHER TIERS: 0.02% Up to $2.5k | 0.04% $2.5k - $5k | 0.05% $5k - $50k

Merchants Bank (MN) CD Rates

0.30%$500-36 Month & Over CD
0.25%$500-30-35 Month CD
0.20%$500-24-29 Month CD
0.14%$500-12-23 Month CD
0.10%$500-6-11 Month CD
0.04%$500-3-5 Month CD

Merchants Bank (MN) IRA Rates

0.30%$500-36 Month & Over IRA
0.25%$500-30-35 Month IRA CD
0.20%$500-24-29 Month IRA CD
0.14%$500-12-23 Month IRA CD


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