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Merchants State Bank


Overview / Commentary
www.msb-sd.com
605-925-4222
305 S. Main St
Freeman, SD 57029

Merchants State Bank is headquartered in Freeman and is the 34th largest bank in the state of South Dakota. It is also the 3,069th largest bank in the nation. It was established in 1899 and as of June of 2020, it had grown to 28 employees at 4 locations. Merchants State Bank's money market rates are 14% higher than the national average, and it has an A health rating.

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Health
A

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #1125
Year Established1899
Employees28
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.74%
Return on Equity - YTD13.12%
Annual Interest Income$4.3MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$192.2MM$169.6MM
LoansQ2 2020vs Q2 2019$146.1MM$132.1MM
DepositsQ2 2020vs Q2 2019$158.7MM$135.9MM
Equity CapitalQ2 2020vs Q2 2019$24.9MM$22.6MM
Loan Loss AllowanceQ2 2020vs Q2 2019$1.7MM$1.7MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$3.1MM$2.9MM
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.40%$50-Traditional IRA Savings
1.40%$50-Roth IRA
1.40%$10-Coverdell Education
1.40%$50-Simplified Employee Pension
0.15%$10-Statement Savings

Merchants State Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$50k*-Money Market Gold Account
OTHER TIERS: 0.20% → Up to $10k | 0.30% → $10k - $25k | 0.40% → $25k - $50k
0.20%$2.5k-Money Market Savings Account

Merchants State Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$2.5k-Super NOW Account
0.10%$1k-NOW Account

Merchants State Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.20%$100-60 Month CD
1.10%$100-48 Month CD
1.01%$100-36 Month CD
0.95%$100-30 Month CD
0.90%$100-24 Month CD
0.70%$100-18 Month CD
0.50%$100-12 Month CD
0.40%$100-6 Month CD
0.30%$100-3 Month CD
Locations


Merchants State Bank Locations
Viborg Office Branch201 N. Main St.Viborg, SD 57070
Irene Branch207 West Main StreetIrene, SD 57037
Merchants State Bank305 S. Main StFreeman, SD 57029
Hurley Branch308 Center StreetHurley, SD 57036

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