Merchants Bank
BankRegReports is independent of Merchants Bank and never asks for online banking logins or passwords.
Data as of · sourced from FFIEC call reports. How we update
Merchants Bank is an FDIC-insured commercial bank headquartered in Rugby, ND, established in 1897 (FDIC certificate 8943), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $254.3M, up 3.5% from Q2 2025, the 32nd largest of 60 banks headquartered in North Dakota. Its CET1 capital ratio was 13.87% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 8943
- Headquarters
- Rugby, ND
- Established
- 1897
- Total assets, Q2 2026
- $254.3M
- Assets vs Q2 2025
- +3.5%
- CET1 ratio, Q2 2026
- 13.87%
- Domestic offices
- 6 FDIC institution directory, current count
- Routing number
- 091300641
- Latest call report
- Q2 2026, FFIEC 051 · Merchants Bank call report
- Holding company
- MERCHANTS HOLDING COMPANY
- Asset rank in state
- 32nd of 60 in North Dakota
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%. The figures come from its call report filed with the FFIEC.
Merchants Bank ranks as the 32nd largest of the 60 banks based in North Dakota, by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets fell 1.3% to $254.3M, loans rose 6.8% and deposits fell 1.5%. The largest part of its loan book on June 30, 2026 was agricultural production loans, at 46.7% of total loans, ahead of farmland and other real estate loans at 32.4%. The FDIC Summary of Deposits lists 6 offices for it, in 6 cities across 2 states; its Rugby office books 50% of its branch deposits. Judged on its Q2 2026 call report, Merchants Bank meets every capital ratio test for well capitalized.
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
- Domestic offices
- 6 FDIC institution directory, current count
- 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
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Merchants Bank's total assets moved between a low of $234.0M (Q4 2023) and a high of $269.5M (Q4 2025) from Q3 2023 to Q2 2026, and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$254.3M total assets against $245.7M; $227.8M total liabilities against $221.7M.
$188.3M net loans and leases against $189.5M; $223.4M total deposits against $217.5M.
$46.0M securities against $45.2M; $14.0M cash and balances due against $4.5M.
$3.5M total interest income against $3.5M; $831K total interest expense against $901K.
$2.7M net interest income against $2.6M.
$79K total noninterest income against $81K; $1.2M total noninterest expense against $1.2M.
$100K provision for credit losses against $100K.
$1.1M net income against $1.1M.
1.65% return on assets against 1.76%; 4.29% net interest margin against 4.26%.
13.87% CET1 capital ratio against 12.07%; 10.56% tier 1 leverage ratio against 10.01%.
Inside the full Merchants Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeMerchants Bank rankings
Its closest position to the top of a national ranking is 268 of 3,606, for efficiency ratio; its furthest is 2,680 of 4,196, for total assets.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 1.09% (Q1 2025) to 1.76% (Q2 2025) and its net interest margin ran from 3.80% (Q3 2024) to 4.48% (Q3 2025).
| 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
View all 6 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| 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
Facts as filed or published, not a rating.
- 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.
- 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).
- Not on file
- Mortgage lending (HMDA), Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
Add this badge to your website
Free to use. It shows Merchants Bank’s latest filed figures and updates each quarter.
Similar banks
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.
Where is Merchants Bank headquartered?
It is headquartered in Rugby, ND, United States.
When was Merchants Bank founded?
It was established in 1897, per the FDIC institution directory.
Is Merchants Bank FDIC-insured?
Yes. It 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.
What is Merchants Bank's CET1 capital ratio?
It 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?
It 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?
Its Texas Ratio is 8.30% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
Go deeper on Merchants Bank.
Get an email when Merchants Bank files its next call report, and benchmark it against any peer you choose.
Unlock Merchants Bank, freeFree account