2. Merchants Bank (MN)

Merchants Bank (MN)


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 6th largest bank in the state of Minnesota. It is also the 467th largest bank in the nation. It was established in 1875 and as of June of 2019, it had grown to 398 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
A

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #8866
Year Established1875
Employees398
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.16%
Return on Equity - YTD9.31%
Annual Interest Income$41.1MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$1.80B$1.69B
LoansQ2 2019vs Q2 2018$1.49B$1.38B
DepositsQ2 2019vs Q2 2018$1.48B$1.38B
Equity CapitalQ2 2019vs Q2 2018$225.7MM$207.1MM
Loan Loss AllowanceQ2 2019vs Q2 2018$19.6MM$18.4MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$20.2MM$16.4MM
Real Estate OwnedQ2 2019vs Q2 2018$1.3MM$2.8MM
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%*-$2kMy Future Fund
OTHER TIERS: 1.75% → $2k+
0.60%†--Winter FUNd
0.60%†--Summer FUNd
0.45%*†$25k*-HSA Checking
OTHER TIERS: 0.15% → Up to $5k | 0.20% → $5k - $10k | 0.30% → $10k - $15k | 0.40% → $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
0.15%*†$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%*†$1m*-Diamond Money Market
OTHER TIERS: 0.15% → Up to $5k | 0.20% → $5k - $25k | 0.45% → $25k - $50k | 0.60% → $50k - $100k | 0.75% → $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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%*$1m*-Non Profit Checking
OTHER TIERS: 0.15% → Up to $5k | 0.20% → $5k - $250k | 0.45% → $25k - $50k | 0.60% → $50k - $100k | 0.75% → $100k - $200k | 1.00% → $200k - $1m
0.30%*†$1m*$15mICS Demand Deposit
OTHER TIERS: 0.15% → Up to $1m | 0.20% → $15m+
0.25%†--Repurchase Agreement
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.78%†$500-30-35 Month CD
0.78%†$500-36 Month & Over CD
0.78%†$500-30 - 35 Month HSA CD
0.78%†$500-36 Month & Over HSA CD
0.75%†$500-24-29 Month CD
0.75%†$500-24 - 29 Month HSA CD
0.60%†$100-12 Month Home Buyer's CD
0.50%†$500-12-23 Month CD
0.50%†$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.78%†$500-30-35 Month IRA CD
0.78%†$500-36 Month & Over IRA
0.75%†$500-24-29 Month IRA CD
0.52%†$500-24 Month "Summit" IRA
0.50%†$500-12-23 Month IRA CD
Locations

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