Merchants Bank, N.A.
BankRegReports is independent of Merchants Bank, N.A. and never asks for online banking logins or passwords.
Data as of · sourced from FFIEC call reports. How we update
Merchants Bank, N.A. is an FDIC-insured commercial bank headquartered in Winona, MN, established in 1875 (FDIC certificate 8866), and it is supervised by the OCC. At Q2 2026 it reported total assets of $2.88B, up 4.1% from Q2 2025, the 6th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 13.46% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- OCC
- Deposit insurance
- FDIC
- FDIC certificate
- 8866
- Headquarters
- Winona, MN
- Established
- 1875
- Total assets, Q2 2026
- $2.88B
- Assets vs Q2 2025
- +4.1%
- CET1 ratio, Q2 2026
- 13.46%
- Domestic offices
- 22 FDIC institution directory, current count
- Routing number
- 091900193
- Latest call report
- Q2 2026, FFIEC 041 · Merchants Bank, N.A. call report
- Holding company
- MERCHANTS FINANCIAL GROUP, INC.
- Asset rank in state
- 6th of 221 in Minnesota
Merchants Bank, N.A., based in Winona, Minnesota, reported $2.9 billion in assets at June 30, 2026, up 4.1% from a year earlier. It shrank its loan book 1.5% over the year, lower than about three-quarters of the 895 banks with $1 billion to $10 billion in assets (median 5.9%).
Loans and deposits moved in opposite directions: over the year loans fell 1.5% and deposits rose 3.7%. Problem loans eased: loans on nonaccrual or 90 or more days past due, net of government guarantees, were 0.51% of loans, down from 0.73% a year earlier.
As of June 30, 2026, Merchants Bank, N.A. reported a CET1 capital ratio of 13.46%, a return on assets of 1.25%, a nonperforming-loan ratio of 0.53% and a Texas ratio of 3.42%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Merchants Bank, N.A. is the 6th largest of the 221 banks headquartered in Minnesota. Between Q1 2026 and Q2 2026, its total assets fell 1.7% to $2.88B, loans rose 1.2% and deposits fell 2.2%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 22.8% of total loans, ahead of commercial and industrial loans at 16.0%. Its 22 offices in the FDIC Summary of Deposits are in 18 cities across 2 states; its Winona 3 offices book 25% of its branch deposits. By the capital ratios in its Q2 2026 call report, Merchants Bank, N.A. meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 100 E 3rd St, Winona, MN 55987
- County
- Winona
- Metro Area
- Winona, MN
- Charter
- Commercial bank, national (federal) charter, Fed member, OCC-supervised
- Primary Regulator
- OCC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- January 1, 1875
- Domestic offices
- 22 FDIC institution directory, current count
- Employees (FTE)
- 385
- Domestic deposits
- $2.50B
- Allowance for credit losses
- $25.9M
- Net charge-offs (YTD)
- $568K
- Average total assets
- $2.89B
- Average total loans
- $2.04B
- Average interest-bearing deposits
- $2.04B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8866
- Fed RSSD
- 779351
- SEC CIK
- 1727770 → filed by MERCHANTS FINANCIAL GROUP, INC.
- Website
- www.merchantsbank.com →
- Parent Holding Company
- MERCHANTS FINANCIAL GROUP, INC. (RSSD 1128769)
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
From Q3 2023 to Q2 2026, Merchants Bank, N.A.'s total assets ranged from $2.52B (Q3 2023) to $2.93B (Q1 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
$2.88B total assets against $2.77B; $2.54B total liabilities against $2.45B.
$2.04B net loans and leases against $2.07B; $2.50B total deposits against $2.41B.
$482.3M securities against $367.5M; $167.5M cash and balances due against $134.0M.
$36.0M total interest income against $34.0M; $11.0M total interest expense against $13.8M.
$24.9M net interest income against $20.2M.
$9.2M total noninterest income against $9.0M; $22.0M total noninterest expense against $20.4M.
-$23K provision for credit losses against -$989K.
$9.0M net income against $8.4M.
1.25% return on assets against 1.22%; 3.72% net interest margin against 3.16%.
13.46% CET1 capital ratio against 12.37%; 11.49% tier 1 leverage ratio against 11.04%.
Inside the full Merchants Bank, N.A. terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeMerchants Bank, N.A. rankings
Its closest position to the top of a national ranking is 435 of 4,196, for total assets; its furthest is 686 of 980, for uninsured deposits.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.65% (Q4 2024) to 1.37% (Q3 2025) and its net interest margin ran from 3.16% (Q2 2025) to 3.72% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 13.46% | 1.25% | 0.53% | 3.42% | 3.72% |
| Q1 2026 | 13.29% | 1.23% | 0.91% | 5.56% | 3.55% |
| Q4 2025 | 12.90% | 1.35% | 0.83% | 5.21% | 3.57% |
| Q3 2025 | 12.94% | 1.37% | 0.90% | 6.05% | 3.51% |
| Q2 2025 | 12.37% | 1.22% | 0.78% | 6.40% | 3.16% |
| Q1 2025 | 12.26% | 1.00% | 0.36% | 3.81% | 3.26% |
| Q4 2024 | 11.75% | 0.65% | 0.33% | 4.10% | 3.51% |
| Q3 2024 | 12.27% | 0.68% | 0.79% | 5.56% | 3.50% |
Swipe the table sideways to see every column.
Branch Network
View all 22 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, N.A. (main office) | Winona , MN | 55987 | $557.2M |
| La Crescent Branch | La Crescent , MN | 55947 | $166.2M |
| Cannon Falls Branch | Cannon Falls , MN | 55009 | $160.1M |
| Onalaska Branch | Onalaska , WI | 54650 | $147.7M |
| Redwing Branch | Red Wing , MN | 55066 | $122.1M |
| Old Fnb of Northfield Branch | Northfield , MN | 55057 | $121.8M |
| Hastings Branch | Hastings , MN | 55033 | $113.1M |
| Caledonia Branch | Caledonia , MN | 55921 | $108.2M |
| Lanesboro Branch | Lanesboro , MN | 55949 | $96.4M |
| Northfield Branch | Northfield , MN | 55057 | $95.8M |
| Alliance Bank Branch | Eau Claire , WI | 54701 | $95.1M |
| Rosemount National Bank Branch | Rosemount , MN | 55068 | $90.3M |
| St. Charles Branch | St. Charles , MN | 55972 | $87.9M |
| Rushford Branch | Rushford , MN | 55971 | $81.6M |
| Rochester Northwest Plaza Branch | Rochester , MN | 55901 | $81.3M |
| Rochester Green Meadows Branch | Rochester , MN | 55902 | $72.5M |
| Cottage Grove Branch | Cottage Grove , MN | 55016 | $69.3M |
| Apple Valley Branch | Apple Valley , MN | 55124 | $62.6M |
| Lakeville Branch | Lakeville , MN | 55044 | $54.4M |
| Spring Grove Branch | Spring Grove , MN | 55974 | $47.5M |
| Goodview Facility | Winona , MN | 55987 | $35.2M |
| Merchants Lakeside Branch | Winona , MN | 55987 | $31.9M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| May 16, 2020 | Structure Change | Acquired The First National Bank of Northfield Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| May 14, 2020 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 1, 2016 | Structure Change | Acquired Merchants Capital Resources, Inc. Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 28, 2009 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| June 27, 2009 | Structure Change | Acquired Merchants Bank, N.A. Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 21, 2007 | Structure Change | Acquired Merchants Bank, National Association Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 20, 2007 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| February 10, 1990 | Structure Change | Charter Discontinued (Merger or Purchase & Assumption) | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 8 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.7% of deposits in MN, rank 15 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 1,807 applications, 1,537 loans originated, $362.1M originated, across 15 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 8 loans, $1.3M approved, $168K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, 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, N.A.’s latest filed figures and updates each quarter.
Similar banks
Compare Merchants Bank, N.A. with peers
Frequently asked about Merchants Bank, N.A.
What are Merchants Bank, N.A.'s total assets?
As of the Q2 2026 filing, Merchants Bank, N.A. reported total assets of $2.88 billion in its FFIEC call report.
Where is Merchants Bank, N.A. headquartered?
It is headquartered in Winona, MN, United States.
When was Merchants Bank, N.A. founded?
It was established in 1875, per the FDIC institution directory.
Is Merchants Bank, N.A. FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8866). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Merchants Bank, N.A.?
Merchants Bank, N.A.'s primary federal regulator is the OCC.
What is Merchants Bank, N.A.'s CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 13.46% 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, N.A. operate?
It operates 22 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, N.A.'s Texas Ratio?
Its Texas Ratio is 3.42% 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, N.A.
Get an email when Merchants Bank, N.A. files its next call report, and benchmark it against any peer you choose.
Unlock Merchants Bank, N.A., freeFree account