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 $3 billion in assets. Customers can open an account at one of its 23 branches.

Deposit Rates - March 29, 2023

SAVINGS RATES APY MIN
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
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 $ 2.65 billion
Loans $ 1,773.33 million
Deposits $ 2.30 billion
Capital $ 275.36 million

Summary Balance Sheet as of September 30, 2022

ASSETS
Cash & Balances due from depository institutions $ 371.31 million
Interest-bearing balances $ 340.87 million
Total securities $ 282.91 million
Federal funds sold and reverse repurchase $ 0.39 million
Net loans and leases $ 1,773.33 million
Loan loss allowance $ 26.60 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.80 million
Goodwill and other intangibles $ 53.48 million
All other assets $ 77.65 million
     Total Assets $ 2.33 billion

LIABILITIES
Total deposits $ 2.30 billion
      Interest-bearing deposits $ 1,658.35 million
      Deposits held in domestic offices $ 2.30 billion
      % insured (estimated) 73.96%
Federal funds purchased and repurchase agreements $ 6.45 million
Trading liabilities N.A.
Other borrowed funds $ 9.48 million
Subordinated debt N.A.
All other liabilities $ 8.31 millionn
      Total Liabilities $ 2.33 billion
      Shareholders’ Equity $ 314.08 million

Summary Income Statement as of September 30, 2022

INCOME AND EXPENSES
Total Interest Income $ 68.96 million
Total Interest Expense $ 3.72 million
Net interest income $ 65.24 million
Provision for loan and lease losses N.A.
Total non interest income $ 15.30 million
Total non interest expense $ 49.79 million
Pre-tax Net Operating Income $ 20.48 million

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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
    Bank
    MINNESOTA
    $50,000
    6 Month
    0.25%
    0.86x (National Avg. - 0.29%)
    $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
    LOCAL CD
    Online Bank
    -
    $50,000
    60 Month
    4.10%
    5.06x (National Avg. - 0.81%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.10%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,050 1,435
    2 52,050 2,134 1,494
    3 54,184 2,222 1,555
    4 56,406 2,313 1,619
    5 58,718 2,407 1,685
    6 61,126 2,506 1,754
    7 63,632 2,609 1,826
    8 66,241 2,716 1,901
    9 68,957 2,827 1,979
    10 71,784 2,943 2,060
    11 74,727 3,064 2,145
    12 77,791 3,189 2,233
    13 80,980 3,320 2,324
    14 84,300 3,456 2,419
    15 87,757 3,598 2,519
    16 91,355 3,746 2,622
    17 95,100 3,899 2,729
    18 98,999 4,059 2,841
    19 103,058 4,225 2,958
    20 107,284 4,399 3,079
    TOTAL $61,682 $43,178
  • 3
    LOCAL CD
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.75x (National Avg. - 0.56%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Online Bank
    -
    $50,000
    12 Month
    4.50%
    10.23x (National Avg. - 0.44%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.50%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410