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Merchants Bank
Rugby, ND · FDIC Certificate #8943 · Chartered 08/0
Total assets
$254.28M
Total deposits
$223.37M
Total equity
$26.53M
Net loans
$188.34M
Branches (offices)
6
Net income (YTD)
$1.95M
Rank: #2,691 of 4,213 U.S. banks by assets · #32 of 60 in North Dakota. Assets changed 3.5% and deposits 2.7% over the year to June 30, 2026.
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Key ratios
| Return on assets (YTD, annualized by FDIC) | 1.50% |
| Return on equity | 15.03% |
| Net interest margin (YTD) | 4.12% |
| Equity to assets | 10.43% |
| Tier 1 leverage ratio | 10.56% |
| Uninsured deposits (share of deposits) | 24.9% |
| Noncurrent loans (share of loans) | 1.25% |
| Net charge-offs (share of loans) | 0.08% |
| Loans to deposits | 84.3% |
| Real estate loans (share of loans) | 40.0% |
Loan mix
| Category | Amount | Share | |
|---|---|---|---|
| Real estate loans | $75.37M | 40.0% | |
| Commercial & industrial | $17.73M | 9.4% | |
| Consumer / individual | $3.20M | 1.7% | |
| Construction & development | $50.00K | 0.0% | |
| Agricultural | $89.01M | 47.3% |
Five-year trend (June snapshots)
| Period | Total assets | Deposits | Net income (year to date) | Equity / net worth |
|---|---|---|---|---|
| Jun 2022 | $234.86M | $216.75M | $787.00K | $15.87M |
| Jun 2023 | $236.15M | $203.98M | $1.44M | $17.75M |
| Jun 2024 | $242.37M | $207.77M | $1.35M | $20.53M |
| Jun 2025 | $245.70M | $217.48M | $1.76M | $23.99M |
| Jun 2026 | $254.28M | $223.37M | $1.95M | $26.53M |
Where its branch deposits sit (FDIC Summary of Deposits)
| State | Branch deposits | Offices |
|---|---|---|
| North Dakota | $182.27M | 5 |
| Montana | $41.10M | 1 |
Branch deposits are booked at the office that holds them, which is not always where the customer lives. Total across all offices: $223.37M.
Similar-sized banks
Mountain Valley Bank ($254.61M) · Raritan State Bank ($253.91M)
Source: FDIC BankFind - Call Report and institution data as of June 30, 2026; branch deposits from the FDIC Summary of Deposits (June 30, 2026). See methodology.
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