Merchants State Bank is an FDIC insured institution headquartered at
305 S Main St, Freeman, SD 57029.
It was founded in
1899 and has approximately $0 billion in assets. Customers can open an account at one of its 4 branches.
| SAVINGS RATES | APY | MIN | |
|---|---|---|---|
|
Savings
|
0.15% | $2,500 | Compare |
| CD RATES | APY | MIN | |
|---|---|---|---|
|
6 Mo CD
|
0.50% | $10,000 | Compare |
|
6 Mo CD
|
0.50% | $100,000 | Compare |
|
12 Mo CD
|
0.65% | $10,000 | Compare |
|
12 Mo CD
|
0.65% | $100,000 | Compare |
|
18 Mo CD
|
0.90% | $10,000 | Compare |
|
18 Mo CD
|
0.90% | $100,000 | Compare |
|
24 Mo CD
|
1.10% | $10,000 | Compare |
|
24 Mo CD
|
1.10% | $100,000 | Compare |
|
30 Mo CD
|
1.15% | $10,000 | Compare |
|
30 Mo CD
|
1.15% | $100,000 | Compare |
|
36 Mo CD
|
1.20% | $10,000 | Compare |
|
36 Mo CD
|
1.20% | $100,000 | Compare |
|
48 Mo CD
|
1.30% | $10,000 | Compare |
|
48 Mo CD
|
1.30% | $100,000 | Compare |
|
60 Mo CD
|
1.40% | $10,000 | Compare |
|
60 Mo CD
|
1.40% | $100,000 | Compare |
| MM RATES | APY | MIN | |
|---|---|---|---|
|
Money Market
|
0.20% | $2,500 | Compare |
|
Money Market
|
0.30% | $10,000 | Compare |
|
Money Market
|
0.50% | $25,000 | Compare |
| INT CHECKING RATES | APY | MIN |
|---|---|---|
|
Int Ckg
|
0.15% | $2,500 |
Figure Home Equity NMLS ID: 1717824 / Updated 2025-09-22 |
Intro APR: 6.950 %
After Intro:6.950 % |
$15,000 |
Reliant Home Funding, Inc NMLS ID: 292473 / Updated 2025-09-22 |
Intro APR: 6.950 %
After Intro:6.950 % |
$15,000 |
|
Intro APR: 6.990 %
After Intro:6.990 % |
$0 |
|
Intro APR: 8.500 %
After Intro:8.500 % |
$25,000 |
Reliant Home Funding, Inc. NMLS ID: 292473 |
5.846% |
$1,868
Fees & Points
$3,352 Total
0.424 Pts ($1,357) $1,995 Fees |
Farmers Bank of Kansas City NMLS ID: 613839 |
5.864% |
$1,868
Fees & Points
$3,964 Total
0.649 Pts ($2,077) $1,887 Fees |
PenFed Credit Union NMLS ID: 401822 |
6.163% |
$1,919
Fees & Points
$5,600 Total
0.750 Pts ($2,400) $3,200 Fees |
Quicken Loans NMLS ID: 167283 |
Fees & Points
Total
Pts ($0) $0 Fees |
| FDIC Insured | Yes |
| FDIC Certificate | # 1125 |
| Date Established | 1899 |
| Assets | $ 214.71 million |
| Loans | $ 139.86 million |
| Deposits | $ 173.70 million |
| Capital | $ 30.42 million |
| ASSETS | |
| Cash & Balances due from depository institutions | $ 10.75 million |
| Interest-bearing balances | $ 9.15 million |
| Total securities | $ 47.25 million |
| Federal funds sold and reverse repurchase | $ 5.53 million |
| Net loans and leases | $ 139.86 million |
| Loan loss allowance | $ 1.01 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | N.A. |
| All other assets | $ 7.29 million |
| Total Assets | $ 184.29 million |
| LIABILITIES | |
| Total deposits | $ 173.70 million |
| Interest-bearing deposits | $ 136.96 million |
| Deposits held in domestic offices | $ 173.70 million |
| % insured (estimated)" | 72.98% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | N.A. |
| Subordinated debt | N.A. |
| All other liabilities | $ 3.40 millionn |
| Total Liabilities | $ 184.29 million |
| Shareholders’ Equity | $ 30.42 million |
| INCOME AND EXPENSES | |
| Total Interest Income | $ 6.03 million |
| Total Interest Expense | $ 1.76 million |
| Net interest income | $ 4.27 million |
| Provision for loan and lease losses | N.A. |
| Total non interest income | $ 0.20 million |
| Total non interest expense | $ 2.30 million |
| Pre-tax Net Operating Income | $ 1.76 million |
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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."
Tax Rate: 30%
All calculations are for demonstration purposes only."
| Year | Rate 0.15% |
Annual Interest |
Annual Interest (After Tax) |
| 1 | 50,000 | 75 | 53 |
| 2 | 50,075 | 75 | 53 |
| 3 | 50,150 | 75 | 53 |
| 4 | 50,225 | 75 | 53 |
| 5 | 50,301 | 75 | 53 |
| 6 | 50,376 | 76 | 53 |
| 7 | 50,452 | 76 | 53 |
| 8 | 50,527 | 76 | 53 |
| 9 | 50,603 | 76 | 53 |
| 10 | 50,679 | 76 | 53 |
| 11 | 50,755 | 76 | 53 |
| 12 | 50,831 | 76 | 53 |
| 13 | 50,907 | 76 | 53 |
| 14 | 50,984 | 76 | 54 |
| 15 | 51,060 | 77 | 54 |
| 16 | 51,137 | 77 | 54 |
| 17 | 51,214 | 77 | 54 |
| 18 | 51,290 | 77 | 54 |
| 19 | 51,367 | 77 | 54 |
| 20 | 51,444 | 77 | 54 |
| TOTAL | $1,522 | $1,065 |
| 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 |
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