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Merchants Bank, National Association
Winona, MN · FDIC Certificate #8866 · Chartered 01/0
Total assets
$2.88B
Total deposits
$2.50B
Total equity
$344.19M
Net loans
$2.04B
Branches (offices)
22
Net income (YTD)
$17.91M
Rank: #443 of 4,213 U.S. banks by assets · #6 of 221 in Minnesota. Assets changed 4.1% and deposits 3.7% over the year to June 30, 2026.
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Key ratios
| Return on assets (YTD, annualized by FDIC) | 1.23% |
| Return on equity | 10.53% |
| Net interest margin (YTD) | 3.65% |
| Equity to assets | 11.94% |
| Tier 1 leverage ratio | 11.49% |
| Uninsured deposits (share of deposits) | 25.8% |
| Noncurrent loans (share of loans) | 0.53% |
| Net charge-offs (share of loans) | 0.06% |
| Loans to deposits | 81.5% |
| Real estate loans (share of loans) | 75.9% |
Loan mix
| Category | Amount | Share | |
|---|---|---|---|
| Real estate loans | $1.54B | 75.9% | |
| Commercial & industrial | $330.85M | 16.2% | |
| Consumer / individual | $34.81M | 1.7% | |
| Construction & development | $75.40M | 3.7% | |
| Agricultural | $41.18M | 2.0% |
Five-year trend (June snapshots)
| Period | Total assets | Deposits | Net income (year to date) | Equity / net worth |
|---|---|---|---|---|
| Jun 2022 | $2.65B | $2.34B | $14.99M | $271.46M |
| Jun 2023 | $2.47B | $2.10B | $15.39M | $293.11M |
| Jun 2024 | $2.63B | $2.25B | $11.52M | $301.24M |
| Jun 2025 | $2.77B | $2.41B | $15.52M | $319.30M |
| Jun 2026 | $2.88B | $2.50B | $17.91M | $344.19M |
Where its branch deposits sit (FDIC Summary of Deposits)
| State | Branch deposits | Offices |
|---|---|---|
| Minnesota | $2.26B | 20 |
| Wisconsin | $242.81M | 2 |
Branch deposits are booked at the office that holds them, which is not always where the customer lives. Total across all offices: $2.50B.
Similar-sized banks
American First National Bank ($2.89B) · West Texas National Bank ($2.88B)
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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