Merchants State Bank

Overview / Commentary

605-925-4222

305 S. Main St
Freeman, SD 57029

Merchants State Bank is headquartered in Freeman and is the 33^rd largest bank in the state of South Dakota. It is also the 3,010^th largest bank in the nation. It was established in 1899 and as of September of 2021, it had grown to 30 employees at 4 locations. Merchants State Bank has an A+ health rating.

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Health

A+

Data as of Q3 2021

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Health Grade Components

Overall
FDIC Certificate #	1125
Year Established	1899
Employees	30
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.56%
Return on Equity - YTD	12.34%
Annual Interest Income	$6.4MM

Assets and Liabilities
Assets	Q3 2021vs Q3 2020	$216.5MM$189.2MM
Loans	Q3 2021vs Q3 2020	$113.0MM$140.5MM
Deposits	Q3 2021vs Q3 2020	$182.3MM$155.1MM
Equity Capital	Q3 2021vs Q3 2020	$27.6MM$25.5MM
Loan Loss Allowance	Q3 2021vs Q3 2020	$1.8MM$1.8MM
Unbacked Noncurrent Loans	Q3 2021vs Q3 2020	$523.00K$2.0MM
Real Estate Owned	Q3 2021vs Q3 2020	$0$0

Rates

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Money Market
Checking
CD

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Merchants State Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.01%	$50	-	Traditional IRA Savings
1.01%	$50	-	Roth IRA
1.01%	$10	-	Coverdell Education
1.01%	$50	-	Simplified Employee Pension
0.05%	$10	-	Statement Savings

Merchants State Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.30%^*	$50k^*	-	Money Market Gold Account
OTHER TIERS: 0.10% → Up to $10k \| 0.15% → $10k - $25k \| 0.20% → $25k - $50k
0.10%	$2.5k	-	Money Market Savings Account

Merchants State Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	$2.5k	-	Super NOW Account
0.05%	$1k	-	NOW Account

Merchants State Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.85%	$100	-	60 Month CD
0.75%	$100	-	48 Month CD
0.65%	$100	-	36 Month CD
0.60%	$100	-	30 Month CD
0.50%	$100	-	24 Month CD
0.35%	$100	-	18 Month CD
0.30%	$100	-	12 Month CD
0.25%	$100	-	6 Month CD
0.15%	$100	-	3 Month CD

Locations

Merchants State Bank Locations
Viborg Office Branch	201 N. Main St.	Viborg, SD 57070
Irene Branch	207 West Main Street	Irene, SD 57037
Merchants State Bank	305 S. Main St	Freeman, SD 57029
Hurley Branch	308 Center Street	Hurley, SD 57036

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