Merchants State Bank
Headquartered in Freeman, SD. Part of H & W Holding Company. FDIC certificate #1125 · Federal Reserve RSSD 289757.
Total assets
$220M
Deposits
$181M
Q2 2026
Active branches
4
Closings since Jan 2020
0
0 openings since Jan 2020
Financial snapshot — Q2 2026
All quarters →Net income (quarter)
$1M
Return on assets
1.90%
Return on equity
12.28%
Noncurrent loan rate
0.32%
Deposits by year (Summary of Deposits)
02019
02020
02021
02022
02023
02024
02025
02026
Values in $ billions, June 30 of each year.
Other network changes since 2020
- 2 branch relocations
Branches by state
All figures transcribed from FDIC BankFind Suite records: structure-change history, quarterly financial reports and the annual Summary of Deposits · bank site: www.msb-sd.com.