Overview / Commentary
Merchants State Bank is headquartered in Freeman and is the 34th largest bank in the state of South Dakota. It is also the 3,164th largest bank in the nation. It was established in 1899 and as of June of 2019, it had grown to 29 employees at 4 locations. Merchants State Bank's money market rates are 2X the national average, and it has a B+ health rating.
Health
B+
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1125 |
| Year Established | 1899 |
| Employees | 29 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.01% |
| Return on Equity - YTD | 15.91% |
| Annual Interest Income | $4.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $169.6MM$163.4MM |
| Loans | Q2 2019vs Q2 2018 | $132.1MM$123.3MM |
| Deposits | Q2 2019vs Q2 2018 | $135.9MM$131.2MM |
| Equity Capital | Q2 2019vs Q2 2018 | $22.6MM$20.0MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $1.7MM$1.5MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $2.9MM$2.6MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.15% | $2.5k | - | Super NOW Account | |
| 0.10% | $1k | - | NOW Account |
Merchants State Bank CD Rates
Locations
| Merchants State Bank Locations | ||
|---|---|---|
| Viborg Office Branch | 105 North Main Street | 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 |