Overview / Commentary
305 S. Main St
Freeman, SD 57029

Merchants State Bank is headquartered in Freeman and is the 33rd largest bank in the state of South Dakota. It is also the 3,243rd largest bank in the nation. It was established in 1899 and as of September of 2018, it had grown to 30 employees at 4 locations. Merchants State Bank's money market rates are 2X the national average, and it has a B+ health rating.


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Health Grade Components

FDIC Certificate #1125
Year Established1899
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.91%
Return on Equity - YTD15.76%
Annual Interest Income$5.9MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$166.8MM$153.2MM
LoansQ3 2018vs Q3 2017$129.3MM$109.6MM
DepositsQ3 2018vs Q3 2017$133.6MM$128.7MM
Equity CapitalQ3 2018vs Q3 2017$20.3MM$19.1MM
Loan Loss AllowanceQ3 2018vs Q3 2017$1.6MM$1.3MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$2.9MM$2.5MM
Real Estate OwnedQ3 2018vs Q3 2017$0$0
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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

2.15%$50-Traditional IRA Savings
2.15%$50-Roth IRA
2.15%$10-Coverdell Education
2.15%$50-Simplified Employee Pension
0.15%$10-Statement Savings

Merchants State Bank Money Market Rates

1.00%*$50k*-Money Market Gold Account
OTHER TIERS: 0.20% Up to $10k | 0.40% $10k - $25k | 0.60% $25k - $50k
0.40%$2.5k-Money Market Savings Account

Merchants State Bank Checking Account Rates

0.15%$2.5k-Super NOW Account
0.10%$1k-NOW Account

Merchants State Bank CD Rates

2.95%$5k-37 Month CD Special
2.50%$100-60 Month CD
2.40%$100-48 Month CD
2.30%$100-36 Month CD
2.24%$100-30 Month CD
2.10%$100-24 Month CD
2.00%$100-18 Month CD
1.90%$100-12 Month CD
1.01%$100-6 Month CD
0.90%$100-3 Month CD

Merchants State Bank Locations
Viborg Office Branch105 North Main StreetViborg, 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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