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 414th largest bank in the nation. It was established in 1875 and as of September of 2021, 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 - YTD1.35%
Return on Equity - YTD13.64%
Annual Interest Income$69.0MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$2.74B$2.61B
LoansQ3 2021vs Q3 2020$1.59B$1.86B
DepositsQ3 2021vs Q3 2020$2.42B$2.31B
Equity CapitalQ3 2021vs Q3 2020$274.9MM$249.6MM
Loan Loss AllowanceQ3 2021vs Q3 2020$29.0MM$28.0MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$13.4MM$17.5MM
Real Estate OwnedQ3 2021vs Q3 2020$2.2MM$2.7MM
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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%--Advantage Savings
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
0.20%*$1m*$15mICS Demand Deposit
OTHER TIERS: 0.10% Any amount
0.08%*$50k*-Partnership Banking
OTHER TIERS: 0.02% Up to $2.5k | 0.04% $2.5k - $5k | 0.06% $5k - $50k
0.08%*$50k*-Relationship Checking
OTHER TIERS: 0.02% Up to $2.5k | 0.04% $2.5k - $5k | 0.06% $5k - $50k
0.08%*$50k*-Veterans Preferred Banking
OTHER TIERS: 0.02% Up to $2.5k | 0.04% $2.5k - $5k | 0.06% $5k - $50k
0.07%--Interest Bearing Business Checking

Merchants Bank (MN) CD Rates

0.28%$500-36 Month & Over CD
0.28%$500-36 Month & Over HSA CD
0.25%$500-30-35 Month CD
0.25%$500-30 - 35 Month HSA CD
0.20%$500-24-29 Month CD
0.20%$500-24 - 29 Month HSA CD
0.10%$500-12-23 Month CD
0.10%$500-12 - 23 Month HSA CD
0.06%$500-6-11 Month CD
0.06%$500-6 - 11 Month HSA CD
0.01%$500-3-5 Month CD
0.01%$500-3- 5 Month HSA CD

Merchants Bank (MN) IRA Rates

0.28%$500-36 Month & Over IRA
0.25%$500-30-35 Month IRA CD
0.20%$500-24-29 Month IRA CD
0.10%$500-12-23 Month IRA CD


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