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 2,921st largest bank in the nation. It was established in 1899 and as of June of 2024, it had grown to 31 employees at 4 locations. Merchants State Bank has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #1125
Year Established1899
Employees31
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.67%
Return on Equity - YTD13.48%
Annual Interest Income$6.1MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$217.9MM$215.7MM
LoansQ2 2024vs Q2 2023$142.2MM$131.9MM
DepositsQ2 2024vs Q2 2023$176.8MM$177.8MM
Equity CapitalQ2 2024vs Q2 2023$27.4MM$24.2MM
Loan Loss AllowanceQ2 2024vs Q2 2023$1MM$982K
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$309K$515K
Real Estate OwnedQ2 2024vs Q2 2023$0$0
Rates

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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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