Merchants State Bank is headquartered in Freeman and is the 33rd largest bank in the state of South Dakota. It is also the 3,036th largest bank in the nation. It was established in 1899 and as of December of 2020, it had grown to 31 employees at 4 locations. Merchants State Bank has an A+ health rating.
Overall | |
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FDIC Certificate # | 1125 |
Year Established | 1899 |
Employees | 31 |
Primary Regulator | FED |
Profit Margin | |
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Return on Assets - YTD | 1.67% |
Return on Equity - YTD | 12.61% |
Annual Interest Income | $8.6MM |
Assets and Liabilities | ||
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Assets | Q4 2020vs Q4 2019 | $202.4MM$175.6MM |
Loans | Q4 2020vs Q4 2019 | $134.1MM$138.1MM |
Deposits | Q4 2020vs Q4 2019 | $167.4MM$141.3MM |
Equity Capital | Q4 2020vs Q4 2019 | $26.4MM$23.6MM |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $1.7MM$1.6MM |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $1.7MM$2.6MM |
Real Estate Owned | Q4 2020vs Q4 2019 | $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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
1.10% | $50 | - | Traditional IRA Savings | |
1.10% | $50 | - | Roth IRA | |
1.10% | $10 | - | Coverdell Education | |
1.10% | $50 | - | Simplified Employee Pension | |
0.10% | $10 | - | Statement Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.40%* | $50k* | - | Money Market Gold Account | ||
OTHER TIERS: 0.15% → Up to $10k | 0.20% → $10k - $25k | 0.30% → $25k - $50k | |||||
0.15% | $2.5k | - | Money Market Savings Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.15% | $2.5k | - | Super NOW Account | |
0.10% | $1k | - | NOW Account |
Merchants State Bank Locations | ||
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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 |