Banks | Merchants Bank, National Association

Merchants Bank, National Association


Merchants Bank, National Association is an FDIC insured institution headquartered at 100 E 3rd St, Winona, MN 55987.
It was founded in 1875 and has approximately $2 billion in assets. Customers can open an account at one of its 23 branches.

Deposit Rates - December 6, 2023

SAVINGS RATES APY MIN
Savings
0.05% $2,500 Compare
Savings
0.10% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.25% $10,000 Compare
6 Mo CD
0.10% $10,000 Compare
6 Mo CD
0.20% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
6 Mo CD
0.10% $100,000 Compare
6 Mo CD
0.20% $100,000 Compare
Special: 9 Mo CD
0.25% $2,500 Compare
Special: 9 Mo CD
0.75% $10,000 Compare
Special: 11 Mo CD
0.60% $500 Compare
12 Mo CD
0.30% $10,000 Compare
12 Mo CD
0.15% $10,000 Compare
12 Mo CD
0.35% $10,000 Compare
12 Mo CD
0.32% $10,000 Compare
12 Mo CD
0.30% $100,000 Compare
12 Mo CD
0.15% $100,000 Compare
12 Mo CD
0.35% $100,000 Compare
12 Mo CD
0.32% $100,000 Compare
Special: 17 Mo CD
0.50% $500 Compare
Special: 17 Mo CD
0.35% $500 Compare
18 Mo CD
0.30% $10,000 Compare
18 Mo CD
0.15% $10,000 Compare
18 Mo CD
0.35% $10,000 Compare
18 Mo CD
0.32% $10,000 Compare
18 Mo CD
0.30% $100,000 Compare
18 Mo CD
0.15% $100,000 Compare
18 Mo CD
0.35% $100,000 Compare
18 Mo CD
0.32% $100,000 Compare
Special: 19 Mo CD
0.35% $2,500 Compare
Special: 19 Mo CD
0.85% $10,000 Compare
24 Mo CD
0.40% $10,000 Compare
24 Mo CD
0.24% $10,000 Compare
24 Mo CD
0.50% $10,000 Compare
24 Mo CD
0.42% $10,000 Compare
24 Mo CD
0.40% $100,000 Compare
24 Mo CD
0.24% $100,000 Compare
24 Mo CD
0.50% $100,000 Compare
24 Mo CD
0.42% $100,000 Compare
Special: 27 Mo CD
0.50% $500 Compare
Special: 27 Mo CD
0.35% $500 Compare
Special: 29 Mo CD
0.50% $2,500 Compare
Special: 29 Mo CD
1.00% $10,000 Compare
30 Mo CD
0.45% $10,000 Compare
30 Mo CD
0.29% $10,000 Compare
30 Mo CD
0.55% $10,000 Compare
30 Mo CD
0.45% $100,000 Compare
30 Mo CD
0.29% $100,000 Compare
30 Mo CD
0.55% $100,000 Compare
36 Mo CD
0.50% $10,000 Compare
36 Mo CD
0.44% $10,000 Compare
36 Mo CD
0.60% $10,000 Compare
36 Mo CD
0.48% $10,000 Compare
36 Mo CD
0.50% $100,000 Compare
36 Mo CD
0.44% $100,000 Compare
36 Mo CD
0.60% $100,000 Compare
36 Mo CD
0.48% $100,000 Compare
Special: 37 Mo CD
0.50% $500 Compare
Special: 37 Mo CD
0.35% $500 Compare
Special: 37 Mo CD
0.65% $10,000 Compare
48 Mo CD
0.50% $10,000 Compare
48 Mo CD
0.44% $10,000 Compare
48 Mo CD
0.60% $10,000 Compare
48 Mo CD
0.48% $10,000 Compare
48 Mo CD
0.50% $100,000 Compare
48 Mo CD
0.44% $100,000 Compare
48 Mo CD
0.60% $100,000 Compare
MM RATES APY MIN
Money Market
0.05% $2,500 Compare
Money Market
0.08% $2,500 Compare
Money Market
0.10% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.12% $10,000 Compare
Money Market
0.05% $10,000 Compare
Money Market
0.15% $25,000 Compare
Money Market
0.18% $25,000 Compare
Money Market
0.10% $25,000 Compare
Money Market
0.20% $25,000 Compare
Money Market
0.12% $25,000 Compare
PREMM RATES APY MIN
Premium Money Market
0.50% $10,000 Compare
Premium Money Market
0.50% $25,000 Compare
FIXED IRA RATES APY MIN
Special: 9 Mo FIRA
0.25% $2,500
Special: 9 Mo FIRA
0.75% $10,000
Special: 11 Mo FIRA
0.60% $500
Special: 17 Mo FIRA
0.35% $500
Special: 17 Mo FIRA
0.50% $500
Special: 19 Mo FIRA
0.35% $2,500
Special: 19 Mo FIRA
0.85% $10,000
Special: 27 Mo FIRA
0.50% $500
Special: 27 Mo FIRA
0.35% $500
Special: 29 Mo FIRA
0.50% $2,500
Special: 29 Mo FIRA
1.00% $10,000
Special: 37 Mo FIRA
0.50% $500
Special: 37 Mo FIRA
0.35% $500
VARIABLE IRA RATES APY MIN
Var IRA
0.10% $1
Var IRA
0.05% $1
INT CHECKING RATES APY MIN
Int Ckg
0.05% $1
Int Ckg
0.08% $1
Int Ckg
0.05% $2,500
Int Ckg
0.10% $2,500
Int Ckg
0.08% $2,500

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 8866
Date Established 1875
Assets $ 2.47 billion
Loans $ 1,999.12 million
Deposits $ 2.10 billion
Capital $ 293.11 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 36.49 million
Interest-bearing balances $ 4.76 million
Total securities $ 239.24 million
Federal funds sold and reverse repurchase $ 0.37 million
Net loans and leases $ 1,999.12 million
Loan loss allowance $ 23.90 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.78 million
Goodwill and other intangibles $ 51.91 million
All other assets $ 77.65 million
     Total Assets $ 2.17 billion

LIABILITIES
Total deposits $ 2.10 billion
      Interest-bearing deposits $ 1,572.46 million
      Deposits held in domestic offices $ 2.10 billion
      % insured (estimated) 77.33%
Federal funds purchased and repurchase agreements $ 51.38 million
Trading liabilities N.A.
Other borrowed funds $ 9.48 million
Subordinated debt N.A.
All other liabilities $ 8.31 millionn
      Total Liabilities $ 2.17 billion
      Shareholders’ Equity $ 293.11 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 55.95 million
Total Interest Expense $ 10.76 million
Net interest income $ 45.19 million
Provision for loan and lease losses $ 0.49 million
Total non interest income $ 10.78 million
Total non interest expense $ 34.40 million
Pre-tax Net Operating Income $ 20.48 million

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Branches

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Merchants Bank, National Association Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Merchants Bank, National Association
    Bank
    MINNESOTA
    $50,000
    6 Month
    0.25%
    0.74x (National Avg. - 0.34%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.25%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 125 88
    2 50,125 125 88
    3 50,250 126 88
    4 50,376 126 88
    5 50,502 126 88
    6 50,628 127 89
    7 50,755 127 89
    8 50,882 127 89
    9 51,009 128 89
    10 51,136 128 89
    11 51,264 128 90
    12 51,392 128 90
    13 51,521 129 90
    14 51,650 129 90
    15 51,779 129 91
    16 51,908 130 91
    17 52,038 130 91
    18 52,168 130 91
    19 52,298 131 92
    20 52,429 131 92
    TOTAL $2,560 $1,792
  • 2
    ONLINE CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    60 Month
    4.00%
    4.54x (National Avg. - 0.88%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689
  • 3
    ONLINE CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    24 Month
    4.40%
    7.11x (National Avg. - 0.62%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.40%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,200 1,540
    2 52,200 2,297 1,608
    3 54,497 2,398 1,679
    4 56,895 2,503 1,752
    5 59,398 2,614 1,829
    6 62,012 2,729 1,910
    7 64,740 2,849 1,994
    8 67,589 2,974 2,082
    9 70,563 3,105 2,173
    10 73,667 3,241 2,269
    11 76,909 3,384 2,369
    12 80,293 3,533 2,473
    13 83,825 3,688 2,582
    14 87,514 3,851 2,695
    15 91,364 4,020 2,814
    16 95,384 4,197 2,938
    17 99,581 4,382 3,067
    18 103,963 4,574 3,202
    19 108,537 4,776 3,343
    20 113,313 4,986 3,490
    TOTAL $68,299 $47,809
  • 4
    ONLINE CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    12 Month
    5.20%
    10.26x (National Avg. - 0.51%)
    $2,500
    -
    SCENARIO
    Year Rate
    5.20%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,600 1,820
    2 52,600 2,735 1,915
    3 55,335 2,877 2,014
    4 58,213 3,027 2,119
    5 61,240 3,184 2,229
    6 64,424 3,350 2,345
    7 67,774 3,524 2,467
    8 71,298 3,708 2,595
    9 75,006 3,900 2,730
    10 78,906 4,103 2,872
    11 83,009 4,316 3,022
    12 87,326 4,541 3,179
    13 91,867 4,777 3,344
    14 96,644 5,025 3,518
    15 101,669 5,287 3,701
    16 106,956 5,562 3,893
    17 112,518 5,851 4,096
    18 118,369 6,155 4,309
    19 124,524 6,475 4,533
    20 130,999 6,812 4,768
    TOTAL $87,811 $61,468
  • 5
    ONLINE CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    9 Month
    5.30%
    N.A.
    $2,500
    -
    SCENARIO
    Year Rate
    5.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,650 1,855
    2 52,650 2,790 1,953
    3 55,440 2,938 2,057
    4 58,379 3,094 2,166
    5 61,473 3,258 2,281
    6 64,731 3,431 2,402
    7 68,162 3,613 2,529
    8 71,774 3,804 2,663
    9 75,578 4,006 2,804
    10 79,584 4,218 2,953
    11 83,802 4,441 3,109
    12 88,243 4,677 3,274
    13 92,920 4,925 3,447
    14 97,845 5,186 3,630
    15 103,031 5,461 3,822
    16 108,491 5,750 4,025
    17 114,242 6,055 4,238
    18 120,296 6,376 4,463
    19 126,672 6,714 4,700
    20 133,386 7,069 4,949
    TOTAL $90,455 $63,319
  • 6
    LOCAL CD
    Forbright Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    12 Month
    5.75%
    11.34x (National Avg. - 0.51%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,875 2,013
    2 52,875 3,040 2,128
    3 55,915 3,215 2,251
    4 59,130 3,400 2,380
    5 62,530 3,596 2,517
    6 66,126 3,802 2,662
    7 69,928 4,021 2,815
    8 73,949 4,252 2,976
    9 78,201 4,497 3,148
    10 82,698 4,755 3,329
    11 87,453 5,029 3,520
    12 92,481 5,318 3,722
    13 97,799 5,623 3,936
    14 103,422 5,947 4,163
    15 109,369 6,289 4,402
    16 115,658 6,650 4,655
    17 122,308 7,033 4,923
    18 129,341 7,437 5,206
    19 136,778 7,865 5,505
    20 144,643 8,317 5,822
    TOTAL $102,960 $72,072


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