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Overview / Commentary
802-865-1898
275 Kennedy Drive
South Burlington, VT 05403

Merchants Bank (VT) is headquartered in South Burlington and is the largest bank in the state of Vermont. It is also the 400th largest bank in the nation. It was established in 1849 and as of September of 2016, it had grown to 287 employees at 32 locations. Merchants Bank (VT) has an A health rating.

Reviews (2)

Good Customer Service At My Branch, *Deplorable* Online Service.

Posted by: JABA | Oct 24, 2012

I am a small business owner in a small Vermont town.  I've never had a problem with anyone at my local branch, and I trust them and find it pleasant to bank with them.  However, running my business smoothly depends on having a dependable online banking system for paying bills. 

I have tried to bear with the growing pains of Merchant Bank's online services division, despite serious flaws.  (It's unacceptable to me that a scheduled payment *disappears* from the "pending payments" list for a significant stretch of time before it appears again on the account summary page.  I also find it ridiculous for a bank website to continually and invasively advertise third-party security software.)  The few times I've had to call the online services division, the people at the other end were discourteous and didn't seem terribly bright. 

Merchants Bank recently began charging a monthly fee for the business account that I've held for years, and simultaneosly capped free bill-pay payments at 200/month.  This was a bit of a rude awakening, but if they were to make improvements on other levels, the new fees might not be so unpalatable. 

However, today Merchants Bank threw down the proverbial last straw.  Just days before the end of the month, they implemented changes to their bill pay system that reduced functionality.  I'm flabbergasted!  I can no longer view my payment history by vendor:  are you kidding me?? 

I will miss the people at my branch, but this bank is incompetent in ways that hurt my business.  I'll be taking my small-business banking elsewhere.

Horrible Bank

Posted by: AO | Sep 10, 2012

Merchants Bank in VT is known for being the worst bank around for customer service! They are constantly making mistakes with your money and accidentally "leaking" information!!!



Health
A

Health Grade Components

Overall
FDIC Certificate #6268
Year Established1849
Employees287
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.88%
Return on Equity - YTD10.06%
Annual Interest Income$45.0MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$2.00B$1.82B
LoansQ3 2016vs Q3 2015$1.46B$1.25B
DepositsQ3 2016vs Q3 2015$1.50B$1.39B
Equity CapitalQ3 2016vs Q3 2015$175.8MM$151.0MM
Loan Loss AllowanceQ3 2016vs Q3 2015$12.5MM$12.2MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$4.2MM$764.00K
Real Estate OwnedQ3 2016vs Q3 2015$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 Bank (VT) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.07%*$2,500*-Health Savings Account
OTHER TIERS: 0.05% $25 - $2,500

Merchants Bank (VT) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.06%*$50k*-Personal Money Market Account
OTHER TIERS: 0.05% $25 - $50k
0.06%*$100k*-Commercial Money Market Account
OTHER TIERS: 0.05% Up to $100k

Merchants Bank (VT) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%--MA IOLTA
0.50%$100-IOLTA Checking Account
0.50%$100-IORTA Checking Account
0.08%$750-Sole Proprietor/Non Profit Checking
0.05%--Growth Checking

Merchants Bank (VT) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.36%$500-60 Month CD
1.36%$500-Business 60 Month CD
0.50%$500-24 Month CD
0.50%$500-Business 24 Month CD
0.50%$500-36 Month CD
0.50%$500-Business 36 Month CD
0.35%$500$250k18 Month CD
0.35%$500$250kBusiness 18 Month CD
0.30%$500-12 Month CD
0.30%$500-Business 12 Month CD
0.20%$500-6 Month CD
0.20%$500-Business 6 Month CD
0.10%$500-3 Month CD
0.10%$500-Business 3 Month CD
0.05%$500-1 Month CD
0.05%$500-Business 1 Month CD

Merchants Bank (VT) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.11%$500-60 Month IRA
0.50%$500-24 Month IRA
0.30%$500-12 Month IRA
0.25%$25-18 Month Variable Traditional IRA
Locations

Merchants Bank (VT) has 32 locations. Click to view all Merchants Bank (VT) locations.