Merchants Bank
Legal institution: Merchants Bank, National Association. Headquartered in Winona, MN. Part of Merchants Financial Group, Inc. FDIC certificate #8866 · Federal Reserve RSSD 779351.
Total assets
$2.9B
Deposits
$2.6B
Q1 2026
Active branches
22
Closings since Jan 2020
3
0 openings since Jan 2020
Financial snapshot — Q1 2026
All quarters →Net income (quarter)
$9M
Return on assets
1.22%
Return on equity
10.54%
Noncurrent loan rate
0.91%
Deposits by year (Summary of Deposits)
12019
22020
22021
22022
22023
22024
22025
Values in $ billions, June 30 of each year.
Closings by year
12023
12024
12025
Other network changes since 2020
- 2 branches acquired through purchases or mergers
Branches by state
Recent closings
- 23280 MAIN ST · closed April 7, 2025
- 20150 HIGHVIEW AVE · closed January 2, 2024
- 765 MENARD RD · closed July 1, 2023
All figures transcribed from FDIC BankFind Suite records: structure-change history, quarterly financial reports and the annual Summary of Deposits · bank site: www.merchantsbank.com.