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Overview / Commentary
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 392nd largest bank in the nation. It was established in 1849 and as of December of 2016, it had grown to 286 employees at 32 locations. Merchants Bank (VT) has a B+ health rating.

Reviews (3)

Not A Good Bank

Posted by: larock28 | Apr 4, 2017

I have an account with this bank for well over 15 years and during that time, it was a pleasant experience.....up until now. I have my home mortgage with Merchants Bank and always paid more than the required payments.....for five years....and never missed a payment. But in December, through a series of events (moving, change of address, bill pay) I mistakenly missed setting up the bill pay. I did not receive the notice of late payment until January and only because of my local bank calling me in late December, was I made aware that they had not yet received the December payment....which I immediately paid. But, it did not post to the account until January 6th. The banks policy, regardless of circumstances, file a thirty day late payment with all of the credit services and my credit score dropped by 100 points. What assholes!!!!! Banks have the option to do this or not and they have the option to remove it or not......Merchants will not make any exceptions, no matter what.

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 Grade Components

FDIC Certificate #6268
Year Established1849
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.87%
Return on Equity - YTD10.05%
Annual Interest Income$60.1MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$2.07B$2.03B
LoansQ4 2016vs Q4 2015$1.50B$1.40B
DepositsQ4 2016vs Q4 2015$1.53B$1.55B
Equity CapitalQ4 2016vs Q4 2015$173.3MM$166.6MM
Loan Loss AllowanceQ4 2016vs Q4 2015$12.7MM$12.0MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$3.2MM$4.0MM
Real Estate OwnedQ4 2016vs Q4 2015$76.00K$12.00K
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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

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

Merchants Bank (VT) Money Market Rates

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

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

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

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

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