Merchants Bank

210 Main Avenue S.
Rugby, ND 58368

Notable Rates APY Vs.Others
Savings 0.30% 2.10% →
1-Year CD 1.30% 2.02% →
2-Year CD 1.40% 2.02% →
5-Year CD 1.80% 2.02% →
30-Year Mortgage N.A. 3.03% →
15-Year Mortgage N.A. 2.77% →
HELOC N.A. 3.25% →

2020 Overview

General Bank Information

Merchants Bank is an FDIC insured institution located in Rugby, ND. It was founded in 1897 and has approximately $0.17 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 8943
Date Established 1897
Assets $0.17 billion
Loans $0.12 billion
Deposits $0.14 billion
Capital $0.02 billion

For a more detailed analysis of Merchants Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - March 29, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.35% $2,500 $9,999 Learn MoreShow Less
Money Market
0.45% $10,000 $24,999 Learn MoreShow Less
Money Market
0.60% $25,000 $49,999 Learn MoreShow Less
6 Mo CD
0.90% $1,000 - Learn MoreShow Less

Fixed IRA
1.30% $100 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $750 - Learn MoreShow Less

Loan Rates - March 29, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Merchants Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
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Featured - Connecticut Home Equity Line Of Credit Rates 2020

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Financial Details

Merchants Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Merchants Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Merchants Bank U.S. Bank Average
0.52% 6.70%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2019, Merchants Bank had $93,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $16,687,000 in equity and $1,153,000 in loans loss reserves. That gives it a Texas Ratio of 0.52%.

Return on Equity
Merchants Bank U.S. Bank Average
18.83% 9.72%

Merchants Bank has a Return on Equity of 18.83% versus the BestCashCow average of 9.72%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Merchants Bank U.S. Bank Average
9.84% 12.89%

Merchants Bank has a Capitalization of 9.84% versus the BestCashCow average of 12.89. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Merchants Bank Balance Sheet Analysis

As of September 30, 2019, Merchants Bank had assets of $169,572,000, loans of $117,302,000, and deposits of $139,760,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

September 30, 2019
Cash & Balances due from depository institutions $0.00 billion
Interest-bearing balances $0.00 billion
Total securities $0.04 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.12 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.00 billion
     Total Assets $0.15 billion
Total deposits $0.14 billion
      Interest-bearing deposits $0.11 billion
      Deposits held in domestic offices $0.14 billion
      % insured (estimated) 82.51%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.15 billion
      Shareholders’ Equity $0.02 billion

Summary Income Statement

September 30, 2019
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.01 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

The top three loan types in Merchants Bank’s loan portfolio are Farm Loans, Commercial and Industrial Loans, and Commercial Real Estate.

Compared to other banks, Merchants Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 4.89
Credit Card Loans 0.00
Consumer Auto Loans 0.71
Small Business Loans 0.00
Construction and Development Loans 0.06
Commercial Real Estate 5.98
Commercial and Industrial Loans 11.50
Farm Loans 46.13

Frequently Asked Questions About Merchants Bank

Branches and Savings

Is Merchants Bank FDIC insured?

Yes. It is covered under FDIC Certificate #8943.

Why does Merchants Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Merchants Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Merchants Bank a commercial bank?


Where are Merchants Bank locations?

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Does Merchants Bank offer mortgages?

Compare mortgage rates here.

Does Merchants Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Merchants Bank offer personal loans?

Compare personal loan rates here.

Does Merchants Bank offer student loans?

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Background on The Bank

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How long has Merchants Bank been around?

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