Merchants State Bank

Headquarters

305 S. Main St
Freeman, SD 57029
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 1.55% →
1-Year CD 0.75% 1.35% →
2-Year CD 1.15% 1.35% →
5-Year CD 1.60% 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Merchants State Bank is an FDIC insured institution located in Freeman, SD. It was founded in 1899 and has approximately $0.18 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 1125
Date Established 1899
Assets $ 175.60 million
Loans $ 138.07 million
Deposits $ 141.28 million
Capital $ 23.65 million
 

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

Deposit Rates - June 7, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $10 - Learn More
Money Market
0.20% $1 $9,999 Learn More
Money Market
0.30% $10,000 $24,999 Learn More
Money Market
0.50% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.50% $100 - Learn More
6 Mo CD
0.60% $100 - Learn More
12 Mo CD
0.75% $100 - Learn More
18 Mo CD
1.05% $100 - Learn More
24 Mo CD
1.15% $100 - Learn More
30 Mo CD
1.25% $100 - Learn More
36 Mo CD
1.35% $100 - Learn More
48 Mo CD
1.45% $100 - Learn More
60 Mo CD
1.60% $1,000 - Learn More

Variable IRA Rates APY MIN MAX
Var IRA
1.70% $50 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $2,500 - Learn MoreShow Less

Loan Rates - June 7, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Merchants State 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

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.019% 3.000% 0.25 $625 $1,055 Learn More

Note to Merchants State Bank
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Branches

Merchants State Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Merchants State Bank Locations


Financial Details

Merchants State Bank Ratio Analysis

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

Texas Ratio
Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Merchants State Bank U.S. Bank Average
10.37% 6.51%

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 December 31, 2019, Merchants State Bank had $2,621,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $23,645,000 in equity and $1,622,000 in loans loss reserves. That gives it a Texas Ratio of 10.37%.

Return on Equity
Merchants State Bank U.S. Bank Average
13.37% 9.41%

Merchants State Bank has a Return on Equity of 13.37% versus the BestCashCow average of 9.41%. 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.

Capitalization
Merchants State Bank U.S. Bank Average
13.47% 12.82%

Merchants State Bank has a Capitalization of 13.47% versus the BestCashCow average of 12.82. 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 State Bank Balance Sheet Analysis

As of December 31, 2019, Merchants State Bank had assets of $175,599,000, loans of $138,068,000, and deposits of $141,281,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 3.25 million
Interest-bearing balances $ 0.06 million
Total securities $ 23.86 million
Federal funds sold and reverse repurchase $ 0.88 million
Net loans and leases $ 138.07 million
Loan loss allowance $ 1.62 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 $ 7.40 million
     Total Assets $ 151.95 million
LIABILITIES
Total deposits $ 141.28 million
      Interest-bearing deposits $ 112.71 million
      Deposits held in domestic offices $ 141.28 million
      % insured (estimated) 77.14%
Federal funds purchased and repurchase agreements $ 0.12 million
Trading liabilities N.A.
Other borrowed funds $ 7.00 million
Subordinated debt N.A.
All other liabilities $ 3.56 million
      Total Liabilities $ 151.95 million
      Shareholders’ Equity $ 23.65 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 8.80 million
Total Interest Expense $ 1.75 million
Net interest income $ 7.04 million
Provision for loan and lease losses $ 0.30 million
Total non interest income $ 0.53 million
Total non interest expense $ 4.11 million
Pre-tax Net Operating Income $ 3.16 million

Bank Loan Profile?

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

Compared to other banks, Merchants State 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 2.64
Multifamily
Mortgages
0.00
Credit Card Loans 0.04
Consumer Auto Loans 0.49
Small Business Loans 6.57
Construction and Development Loans 0.00
Commercial Real Estate 11.23
Commercial and Industrial Loans 7.31
Farm Loans 24.98

Frequently Asked Questions About Merchants State Bank

Branches and Savings

Is Merchants State Bank FDIC insured?

Yes. It is covered under FDIC Certificate #1125.

Why does Merchants State 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 State Bank CD rates not competitive?

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

Is Merchants State Bank a commercial bank?

Yes

Where are Merchants State Bank locations?

See branch locations nearby.

Is Merchants State Bank open on Saturdays?

Is Merchants State Bank open on Sundays?

What time does Merchants State Bank open?

What time does Merchants State Bank close?

Are Merchants State Bank ATMs Open 24/7?

Do Merchants State Bank ATMs accept cash deposits?

Can Merchants State Bank customers use other ATMs?

Do Merchants State Bank branches have notaries?

Will Merchants State Bank notarize my document?

What address for Merchants State Bank should I put for incoming ACH transfers?

Will the Merchants State Bank branch print checks?

Do Merchants State Bank checks expire?

Does Merchants State Bank require US citizenship to open account?

Can Merchants State Bank close my account?

Does Merchants State Bank Report to credit bureaus?

Does Merchants State Bank Use Equifax?

What is Merchants State Bank's ACH Routing Number?

What is Merchants State Bank's SWIFT code?

Products

Does Merchants State Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Merchants State Bank offer personal loans?

Compare personal loan rates here.

Does Merchants State Bank offer student loans?

Will Merchants State Bank cash a check?

Will Merchants State Bank redeem a savings bond?

Does Merchants State Bank cash savings bonds?

Will Merchants State Bank cash money orders?

Can Merchants State Bank issue a money order?

Does Merchants State Bank do currency exchange?

Background on The Bank

Who owns Merchants State Bank?

How long has Merchants State Bank been around?

Can Merchants State Bank transfer to other banks?

Does Merchants State Bank have quick pay?

Does Merchants State Bank accept rolled coins?

Will Merchants State Bank accept loose change?

Where is Merchants State Bank headquarters?

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