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 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.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #1125
Year Established1899
Employees29
Primary RegulatorFED
Profit Margin
Return on Assets - YTD2.01%
Return on Equity - YTD15.91%
Annual Interest Income$4.4MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$169.6MM$163.4MM
LoansQ2 2019vs Q2 2018$132.1MM$123.3MM
DepositsQ2 2019vs Q2 2018$135.9MM$131.2MM
Equity CapitalQ2 2019vs Q2 2018$22.6MM$20.0MM
Loan Loss AllowanceQ2 2019vs Q2 2018$1.7MM$1.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$2.9MM$2.6MM
Real Estate OwnedQ2 2019vs Q2 2018$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Merchants State Bank; we are a rate comparison website and cannot provide official rates or promotions.

* 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
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

APYMINMAXACCOUNT NAMEVIEW 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

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

Merchants State Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.45%$100-60 Month CD
2.30%$100-48 Month CD
2.25%$100-36 Month CD
2.20%$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
Locations


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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