Merchants Bank: Financial Reports & UBPR Data
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Data as of · sourced from FFIEC call reports. How we update
Merchants Bank runs leaner than most banks of its size. The Rugby, North Dakota bank had $254 million in assets at June 30, 2026, up 3.5% from a year earlier. It spends about 42 cents to bring in each dollar of revenue, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 61 cents). It also holds commercial real estate loans equal to only 13% of its capital, a small fraction of the median of 1.2 times for banks its size.
Problem loans eased: loans on nonaccrual or 90 or more days past due, net of government guarantees, were 1.25% of loans, down from 1.88% a year earlier. Loans and deposits moved in opposite directions: over the year loans fell 0.5% and deposits rose 2.7%. Credit is the area to watch: it carries problem assets equal to 8.3% of the capital and reserves that would absorb them, about triple the median of 2.6% for banks its size.
As of June 30, 2026, Merchants Bank reported a CET1 capital ratio of 13.87%, a return on assets of 1.65%, a nonperforming-loan ratio of 1.25% and a Texas ratio of 8.30%, according to its call report filed with the FFIEC.
Headquarters Profile
- Address
- 210 S Main Ave, Rugby, ND 58368
- County
- Pierce
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- No
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- August 4, 1897
- Offices
- 6 domestic
- Employees (FTE)
- 32
- Domestic deposits
- $223.4M
- Allowance for credit losses
- $2.3M
- Net charge-offs (YTD)
- $79K
- Average total assets
- $256.0M
- Average total loans
- $183.1M
- Average interest-bearing deposits
- $175.7M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8943
- Fed RSSD
- 700458
- Website
- www.merchantsbankrugby.com →
- Parent Holding Company
- MERCHANTS HOLDING COMPANY (RSSD 1142206)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Rows tagged YTD are fiscal year to date through June 30, 2026, as filed. Net income is tagged Q2 because it is that quarter's own figure, not a running total, so it cannot be compared with a YTD row. ROA, ROE and net interest margin are the quarter's own income, annualized. The UBPR and FDIC annualize the year to date instead, so after the first quarter their figures differ from ours; where the UBPR has this quarter, its value is shown beside each as YTD. The UBPR's YTD ROA divides by the average of the quarterly average assets the bank reports on Schedule RC-K, while FDIC BankFind divides by the average of quarter-end total assets, so FDIC's ROA can differ from the YTD figure by a few hundredths of a point.
Quarterly trends
Last 12 quarters from this bank's own FFIEC call reports. Dollar figures are the quarter's own amount: the income statement is filed year to date, so those lines are shown net of the preceding quarter.
Balances at each quarter end. The gap between the two lines is equity capital.
Balances at each quarter end. Loans rising toward deposits is the loan-to-deposit ratio tightening.
Balances at each quarter end. Each line is its own balance, not stacked on the other.
Each bar is that quarter alone. The gap between the two is net interest income.
What the balance sheet earned on spread that quarter, before fees and operating costs.
Fees, trading and other income against salaries, premises and the rest of the cost base.
What the bank charged to earnings that quarter to build its allowance for expected losses.
Net income for the quarter alone. The Call Report reports it year to date; this series converts it to the single quarter, so each bar covers three months.
CET1 is common equity tier 1 as a share of risk-weighted assets; the leverage ratio is tier 1 capital as a share of average total assets. A bank that files the community bank leverage ratio reports no CET1 ratio, so only its leverage line appears.
Inside the full Merchants Bank terminal
26 years of quarterly trends · 8 tabs · peer percentiles · Excel export
Unlock Merchants Bank, freeMerchants Bank rankings
How this bank ranks on each leaderboard. Click any rank to see the full ranked list.
Ranked among banks that report this metric, so the total differs from card to card. The CET1 ranking leaves out community bank leverage ratio filers, which report no CET1 ratio.
Quarterly trend: last 8 quarters
Quarter-over-quarter movement in the five most-watched ratios. Sourced from the bank's own FFIEC call report filings.
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 13.87% | 1.65% | 1.25% | 8.30% | 4.29% |
| Q1 2026 | 14.91% | 1.39% | 1.21% | 7.77% | 3.98% |
| Q4 2025 | 12.89% | 1.13% | 1.12% | 7.94% | 4.34% |
| Q3 2025 | 12.69% | 1.71% | 1.11% | 8.15% | 4.48% |
| Q2 2025 | 12.07% | 1.76% | 1.88% | 13.99% | 4.26% |
| Q1 2025 | 12.74% | 1.09% | 1.24% | 8.69% | 3.89% |
| Q4 2024 | 11.45% | 1.28% | 1.14% | 8.56% | 4.37% |
| Q3 2024 | 10.44% | 1.24% | 1.94% | 14.89% | 3.80% |
Swipe the table sideways to see every column.
Branch Network
Every branch from the FDIC Summary of Deposits, listed with the deposits booked at each location. The FDIC's office count above also includes administrative and limited-service offices, so the two totals can differ. View all 6 branches →
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Merchants Bank (main office) | Rugby , ND | 58368 | $111.0M |
| 202 Main Street South Branch | Towner , ND | 58788 | $67.1M |
| Fairview Bank Branch | Fairview , MT | 59221 | $41.1M |
| Mapleton Branch | Mapleton , ND | 58059 | $4.2M |
| Upham Branch | Upham , ND | 58789 | $0 |
| Granville Branch | Granville , ND | 58741 | $0 |
Regulatory record
What the public regulatory sources show for Merchants Bank, each with its period and source. These are facts as filed or published, not a rating or score. "Not on file" means we hold no record from that source, which is not the same as a clean record.
- Enforcement actions
- None against the institution on file; 2 against individuals associated with it
- Period: Most recent action September 2, 2020. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.4% of deposits in ND, rank 39 of 70 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- Not on file: no HMDA filing matched
- Period: not on file. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $203K approved, $203K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2022 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Consumer complaints
- Not on file: no CFPB complaints matched
- Period: not on file. Source: CFPB consumer complaint database.
- CFPB enforcement
- Not on file: CFPB enforcement actions are not loaded
- Period: not on file. Source: CFPB enforcement actions.
- CRA examination rating
- Not on file: FFIEC CRA ratings are not loaded
- Period: not on file. Source: FFIEC CRA ratings.
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Frequently asked about Merchants Bank
What are Merchants Bank's total assets?
As of the Q2 2026 filing, Merchants Bank reported total assets of $254.3 million in its FFIEC call report. All figures come directly from the bank's quarterly Schedule RC filing.
Where is Merchants Bank headquartered?
Merchants Bank is headquartered in Rugby, ND, United States. It files quarterly FFIEC call reports, as every FDIC-insured commercial bank must.
When was Merchants Bank founded?
Merchants Bank was established in 1897, per the FDIC institution directory.
Is Merchants Bank FDIC-insured?
Yes. Merchants Bank is an FDIC-insured commercial bank (FDIC Certificate #8943). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Merchants Bank?
Merchants Bank's primary federal regulator is the FDIC. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
What is Merchants Bank's CET1 capital ratio?
Merchants Bank reported a Common Equity Tier 1 (CET1) capital ratio of 13.87% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Merchants Bank operate?
Merchants Bank operates 6 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Merchants Bank's Texas Ratio?
Merchants Bank's Texas Ratio is 8.30% in its Q2 2026 call report, within the healthy range (under 25%). The Texas Ratio measures non-performing assets against the bank's capital and reserves; the glossary entry for the Texas Ratio carries the full definition.
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