Merchants Bank, N.A.: Call Report & UBPR Financial Data
Data as of · sourced from FFIEC call reports. How we update
Asset quality shifted last quarter, NPLs fell to 0.53% from 1.03% in the prior period. Founded in 1875, Merchants Bank, N.A. is among the oldest continuously operating FDIC-insured banks, headquartered in Winona, MN. Merchants Bank's Q2 2026 balance sheet shows $2.9B in assets funded primarily by $2.5B in customer deposits. The bank posts a strong 1.25% ROA and 10.51% ROE. Capital is comfortably above regulatory requirements, CET1 ratio of 13.46% sits well above the 7% level required once the capital conservation buffer is included. Asset quality is solid, 0.53% nonperforming loans and a 3.56% Texas Ratio. Merchants Bank operates a 22-branch network.
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%, a Texas ratio of 3.56%, per financial data filed with the FFIEC.
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
- Offices
- 22 domestic
- Employees (FTE)
- 385
- Domestic deposits
- $2.50B
- Allowance for credit losses
- $25.9M
- Net charge-offs (YTD)
- $568K
- 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
Capital & 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.
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.
The quarter's own net income, as filed. It needs no adjustment because the filing does not accumulate it through the year.
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, N.A. terminal
25 years of quarterly trends · 8 tabs · peer percentiles · Excel export
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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 | 13.46% | 1.25% | 0.53% | 3.56% | 3.72% |
| Q1 2026 | 13.29% | 1.23% | 1.03% | 7.27% | 3.55% |
| Q4 2025 | 12.90% | 1.35% | 1.05% | 6.93% | 3.57% |
| Q3 2025 | 12.94% | 1.37% | 1.11% | 8.09% | 3.51% |
| Q2 2025 | 12.37% | 1.22% | 1.02% | 8.45% | 3.16% |
| Q1 2025 | 12.26% | 1.00% | 0.56% | 5.86% | 3.26% |
| Q4 2024 | 11.75% | 0.65% | 0.49% | 5.77% | 3.51% |
| Q3 2024 | 12.27% | 0.68% | 0.75% | 6.02% | 3.50% |
Swipe the table sideways to see every column.
Branch Network
Every branch from the FDIC Summary of Deposits, mapped, and 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 22 branches →
| 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
What the public regulatory sources show for Merchants Bank, N.A., 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
- Not on file: no matched FDIC, Federal Reserve or OCC action
- Period: not on file. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.7% of deposits in MN, rank 15 of 279 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.
- 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, 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. All figures come directly from the bank's quarterly Schedule RC filing.
Where is Merchants Bank, N.A. headquartered?
Merchants Bank, N.A. is headquartered in Winona, MN, United States. It files quarterly FFIEC call reports as required of all FDIC-insured commercial banks.
When was Merchants Bank, N.A. founded?
Merchants Bank, N.A. was established in 1875, per the FDIC institution directory.
Is Merchants Bank, N.A. FDIC-insured?
Yes. Merchants Bank, N.A. 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. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
What is Merchants Bank, N.A.'s CET1 capital ratio?
Merchants Bank, N.A. 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?
Merchants Bank, N.A. 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?
Merchants Bank, N.A.'s Texas Ratio is 3.56% 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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