Merchants National Bank
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Data as of · sourced from FFIEC call reports. How we update
Merchants National Bank is an FDIC-insured commercial bank headquartered in Hillsboro, OH, established in 1879 (FDIC certificate 6605), and it is supervised by the OCC. At Q2 2026 it reported total assets of $1.27B, down 4.9% from Q2 2025, the 32nd largest of 154 banks headquartered in Ohio. Its CET1 capital ratio was 12.00% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- OCC
- Deposit insurance
- FDIC
- FDIC certificate
- 6605
- Headquarters
- Hillsboro, OH
- Established
- 1879
- Total assets, Q2 2026
- $1.27B
- Assets vs Q2 2025
- -4.9%
- CET1 ratio, Q2 2026
- 12.00%
- Domestic offices
- 17 FDIC institution directory, current count
- Routing number
- 042205009
- Latest call report
- Q2 2026, FFIEC 051 · Merchants National Bank call report
- Holding company
- MERCHANTS BANCORP, INC.
- Asset rank in state
- 32nd of 154 in Ohio
Merchants National Bank operates with a thinner capital cushion than most banks of its size. Its balance sheet stood at $1.3 billion at June 30, 2026, down 4.9% from a year earlier; it is based in Hillsboro, Ohio. It funds 8.91% of its assets with Tier 1 capital, lower than about 9 in 10 of the 895 banks with $1 billion to $10 billion in assets (median 10.52%). It also shrank its loan book 3.2% over the year, lower than about 9 in 10 banks its size (median 5.9%).
As of June 30, 2026, Merchants National Bank reported a CET1 capital ratio of 12.00%, a return on assets of 1.29%, a nonperforming-loan ratio of 0.53% and a Texas ratio of 4.18%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Merchants National Bank is the 32nd largest of the 154 banks headquartered in Ohio. Between Q1 2026 and Q2 2026, its total assets fell 5.3% to $1.27B, loans rose 0.5% and deposits fell 5.4%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 37.4% of total loans, ahead of farmland and other real estate loans at 17.3%. Its 17 offices in the FDIC Summary of Deposits are in 12 cities in OH; its Hillsboro 3 offices book 34% of its branch deposits. On its Q2 2026 call report, Merchants National Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 100 N High St, Hillsboro, OH 45133
- County
- Highland
- Charter
- Commercial bank, national (federal) charter, Fed member, OCC-supervised
- Primary Regulator
- OCC
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 4, Cleveland
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- December 25, 1879
- Former names
- The Merchants National Bank (1996); The Merchants National Bank of Hillsborough (1936-1996)
- Domestic offices
- 17 FDIC institution directory, current count
- Employees (FTE)
- 194
- Domestic deposits
- $1.11B
- Allowance for credit losses
- $11.3M
- Net charge-offs (YTD)
- $5K
- Average total assets
- $1.28B
- Average total loans
- $936.0M
- Average interest-bearing deposits
- $818.8M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 6605
- Fed RSSD
- 701222
- SEC CIK
- 1024724 → filed by MERCHANTS BANCORP, INC.
- Website
- www.merchantsnat.com →
- Parent Holding Company
- MERCHANTS BANCORP, INC. (RSSD 2485487)
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
Over the 12 quarters to Q2 2026, Merchants National Bank's total assets ran between $1.27B (Q2 2026) and $1.38B (Q1 2025), 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
$1.27B total assets against $1.33B; $1.15B total liabilities against $1.21B.
$940.8M net loans and leases against $972.6M; $1.11B total deposits against $1.14B.
$157.7M securities against $177.9M; $98.6M cash and balances due against $119.3M.
$15.2M total interest income against $15.9M; $3.7M total interest expense against $4.9M.
$11.5M net interest income against $11.0M.
$1.6M total noninterest income against $1.6M; $8.0M total noninterest expense against $7.6M.
$0 provision for credit losses against $0.
$4.1M net income against $4.0M.
1.29% return on assets against 1.18%; 3.79% net interest margin against 3.42%.
12.00% CET1 capital ratio against 11.65%; 8.91% tier 1 leverage ratio against 8.37%.
Inside the full Merchants National Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeMerchants National Bank rankings
Its closest position to the top of a national ranking is 852 of 4,196, for total assets; its furthest is 1,712 of 2,134, for CET1 ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.77% (Q3 2024) to 1.29% (Q2 2026) and its net interest margin ran from 2.74% (Q3 2024) to 3.79% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.00% | 1.29% | 0.53% | 4.18% | 3.79% |
| Q1 2026 | 12.21% | 1.07% | 0.56% | 4.33% | 3.41% |
| Q4 2025 | 11.78% | 1.05% | 0.48% | 3.94% | 3.60% |
| Q3 2025 | 12.11% | 1.12% | 0.50% | 4.01% | 3.34% |
| Q2 2025 | 11.65% | 1.18% | 0.48% | 4.06% | 3.42% |
| Q1 2025 | 11.58% | 0.92% | 0.49% | 4.33% | 3.02% |
| Q4 2024 | 11.06% | 0.97% | 0.37% | 3.46% | 3.20% |
| Q3 2024 | 11.06% | 0.77% | 0.38% | 3.47% | 2.74% |
Swipe the table sideways to see every column.
Branch Network
View all 17 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 |
|---|---|---|---|
| Washington Court House Branch | Washington Court House , OH | 43160 | $193.6M |
| The Merchants National Bank | Hillsboro , OH | 45133 | $148.8M |
| Beech Street Branch | Hillsboro , OH | 45133 | $130.2M |
| The Citizens Bank of Logan Ohio Branch | Logan , OH | 43138 | $116.4M |
| London Branch | London , OH | 43140 | $99.8M |
| Highland Plaza Branch | Hillsboro , OH | 45133 | $93.0M |
| Georgetown Branch Office | Georgetown , OH | 45121 | $46.7M |
| Greenfield Branch | Greenfield , OH | 45123 | $40.5M |
| Batavia Branch | Batavia , OH | 45103 | $39.7M |
| 104 Jefferson Street Branch | Greenfield , OH | 45123 | $33.2M |
| Wilmington Rombach Branch | Wilmington , OH | 45177 | $28.6M |
| Primmer Road Branch | Logan , OH | 43138 | $28.2M |
| Mt. Orab Branch | Mount Orab , OH | 45154 | $28.1M |
| City Gate Branch | Marysville , OH | 43040 | $27.3M |
| Stimson Ave Office Branch | Athens , OH | 45701 | $18.4M |
| Wilmington Wayne Branch | Wilmington , OH | 45177 | $18.4M |
| Springfield Branch | Springfield , OH | 45505 | $16.4M |
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 1, 2019 | Structure Change | Acquired The Citizens Bank of Logan, Ohio Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 30, 2019 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| August 22, 2009 | Structure Change | Acquired The Citizens Bank of Higginsport, Ohio Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| August 21, 2009 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 4 events.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 1 against the institution (Federal Reserve)
- September 16, 2010, Federal Reserve: Written Agreement: Miners and Merchants Bancorp, Inc., Grundy, Virginia; Trupoint Bank, Grundy, Virginia
- Period: Most recent institution action September 16, 2010. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.2% of deposits in OH, rank 36 of 184 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $198K approved, $198K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2006 (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
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Frequently asked about Merchants National Bank
What are Merchants National Bank's total assets?
As of the Q2 2026 filing, Merchants National Bank reported total assets of $1.27 billion in its FFIEC call report.
Where is Merchants National Bank headquartered?
It is headquartered in Hillsboro, OH, United States.
When was Merchants National Bank founded?
It was established in 1879, per the FDIC institution directory.
Is Merchants National Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #6605). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Merchants National Bank?
Merchants National Bank's primary federal regulator is the OCC.
What is Merchants National Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 12.00% in its Q2 2026 call report, above regulatory requirements.
How many branches does Merchants National Bank operate?
It operates 17 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Merchants National Bank's Texas Ratio?
Its Texas Ratio is 4.18% 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.
What was Merchants National Bank previously called?
The charter now named Merchants National Bank has also operated as The Merchants National Bank (1996), The Merchants National Bank of Hillsborough (1936-1996), per FDIC structure-change records.
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