$218M
+0.3%y/y
Percentile by value66th percentileby value
FDIC
ASSETMS
Merchants State Bank
Freeman, South DakotaFDIC Cert #1125
STATEEstablished 18994 branches
Holding company: H&W HOLDING CORegulator: FED
FDIC
CERT + OFFDOMWhat's happening here
As of Q1 2026FDIC
Call ReportMerchants State Bank reported $218M in total assets. Deposits grew 1.91% over the prior year.
Return on assets was 1.63%, compared with an asset-peer median of 1.18%. The leverage ratio was 17.13%.
- Why is Efficiency Ratio below asset peers?
- Why is Tier 1 Leverage Ratio above asset peers?
- Why is Total Assets above asset peers?
Generated offline from verified FDIC facts for the period shown. Bank Data Insights does not rate banks, predict outcomes, or provide advice.
Latest reported quarter
Key metrics
$176M
+1.9%y/y
Percentile by value61st percentileby value
FDIC
DEP$147M
+5.9%y/y
Percentile by value71st percentileby value
FDIC
LNLSNET1.63%
−20 bpsy/y
Peer standing74th percentile
FDIC
NETINC + ROA49.15%
−381 bpsy/y
Peer standing87th percentile
FDIC
NONIX + NIM + NONII + EEFFR17.13%
+107 bpsy/y
Peer standing92nd percentile
FDIC
RBC1AAJPercentiles compare this bank with 1,247 banks from $100 million to $300 million.
FDIC
Call ReportBalance sheet trend
Assets & deposits
| Quarter | Assets | Deposits |
|---|---|---|
| Q2 2021 | $215M | $181M |
| Q3 2021 | $217M | $182M |
| Q4 2021 | $222M | $191M |
| Q1 2022 | $215M | $188M |
| Q2 2022 | $224M | $199M |
| Q3 2022 | $215M | $192M |
| Q4 2022 | $221M | $195M |
| Q1 2023 | $210M | $183M |
| Q2 2023 | $216M | $178M |
| Q3 2023 | $209M | $173M |
| Q4 2023 | $218M | $178M |
| Q1 2024 | $217M | $174M |
| Q2 2024 | $218M | $177M |
| Q3 2024 | $212M | $173M |
| Q4 2024 | $209M | $172M |
| Q1 2025 | $217M | $173M |
| Q2 2025 | $215M | $174M |
| Q3 2025 | $213M | $170M |
| Q4 2025 | $222M | $181M |
| Q1 2026 | $218M | $176M |
Portfolio composition
Loan mix
| Category | Balance |
|---|---|
| Owner CRE | $14.9M |
| Investor CRE | $9.61M |
| Multifamily | $0 |
| Construction | $0 |
| 1–4 family | $2.91M |
| C&I | $14.2M |
| Agriculture | $102M |
| Other | $3.98M |
Peer comparison
How this bank compares
Lower displayed standingPeer medianHigher displayed standing
ROA
FDIC
NETINC + ROA1.63%74th percentileToggle ROA distribution
Distribution histogram for ROA, with this bank marked when a value is reported.
10th 0.33%Median 1.18%90th 2.13%Observations 1,247
ROE
FDIC
NETINC + ROE10.71%47th percentileToggle ROE distribution
Distribution histogram for ROE, with this bank marked when a value is reported.
10th 2.85%Median 11.08%90th 20.43%Observations 1,247
NIM
FDIC
NIM + NIMY4.35%74th percentileToggle NIM distribution
Distribution histogram for NIM, with this bank marked when a value is reported.
10th 2.92%Median 3.89%90th 4.91%Observations 1,247
Efficiency
FDIC
NONIX + NIM + NONII + EEFFR49.15%87th percentileToggle Efficiency distribution
Distribution histogram for Efficiency, with this bank marked when a value is reported.
10th 47.24%Median 64.46%90th 87.12%Observations 1,247
Deposits YoY
FDIC
DEP+1.91%37th percentileby valueToggle Deposits YoY distribution
Distribution histogram for Deposits YoY, with this bank marked when a value is reported.
10th −3.02%Median +3.60%90th +14.76%Observations 1,238
Loans YoY
FDIC
LNLSNET+5.87%54th percentileby valueToggle Loans YoY distribution
Distribution histogram for Loans YoY, with this bank marked when a value is reported.
10th −3.89%Median +5.09%90th +18.61%Observations 1,230
Noncurrent %
FDIC
P9ASSET + NAASSET + LNLSGR0.33%54th percentileToggle Noncurrent % distribution
Distribution histogram for Noncurrent %, with this bank marked when a value is reported.
10th 0.00%Median 0.39%90th 2.38%Observations 1,231
Leverage
FDIC
RBC1AAJ17.13%92nd percentileToggle Leverage distribution
Distribution histogram for Leverage, with this bank marked when a value is reported.
10th 8.82%Median 11.12%90th 16.44%Observations 1,247
Well-capitalized threshold (12 CFR 6.4 / 208.43 / 324.403) is shown as a supervisory screening criterion, not a limit or violation.
IB deposit cost
FDIC
EINTEXP + DEPIDOM2.30%48th percentileToggle IB deposit cost distribution
Distribution histogram for IB deposit cost, with this bank marked when a value is reported.
10th 1.42%Median 2.26%90th 3.32%Observations 1,237
CRE/capital
FDIC
LNRENROT + LNREMULT + LNRECONS + RBCToggle CRE/capital distribution
Distribution histogram for CRE/capital, with this bank marked when a value is reported.
10th 13%Median 92%90th 236%Observations 588
Interagency CRE supervisory criterion (FIL-104-2006) is shown as a supervisory screening criterion, not a limit or violation. The 300% total-CRE criterion is considered with 50% growth over the prior 36 months.
Whiskers show the 10th–90th percentile, the box shows the middle half, and the dot marks this bank. Favorable-direction metrics are oriented using registry polarity; neutral metrics are ordered from lower to higher reported value and carry no favorable interpretation.
Lower displayed standingPeer medianHigher displayed standing
ROA
FDIC
NETINC + ROA1.63%63rd percentileToggle ROA distribution
Distribution histogram for ROA, with this bank marked when a value is reported.
10th 0.44%Median 1.35%90th 2.58%Observations 58
ROE
FDIC
NETINC + ROE10.71%33rd percentileToggle ROE distribution
Distribution histogram for ROE, with this bank marked when a value is reported.
10th 5.83%Median 13.03%90th 24.66%Observations 58
NIM
FDIC
NIM + NIMY4.35%67th percentileToggle NIM distribution
Distribution histogram for NIM, with this bank marked when a value is reported.
10th 2.99%Median 3.74%90th 6.06%Observations 58
Efficiency
FDIC
NONIX + NIM + NONII + EEFFR49.15%81st percentileToggle Efficiency distribution
Distribution histogram for Efficiency, with this bank marked when a value is reported.
10th 41.47%Median 59.23%90th 81.90%Observations 58
Deposits YoY
FDIC
DEP+1.91%29th percentileby valueToggle Deposits YoY distribution
Distribution histogram for Deposits YoY, with this bank marked when a value is reported.
10th −3.68%Median +5.29%90th +11.82%Observations 56
Loans YoY
FDIC
LNLSNET+5.87%45th percentileby valueToggle Loans YoY distribution
Distribution histogram for Loans YoY, with this bank marked when a value is reported.
10th −3.18%Median +7.39%90th +15.05%Observations 56
Noncurrent %
FDIC
P9ASSET + NAASSET + LNLSGR0.33%49th percentileToggle Noncurrent % distribution
Distribution histogram for Noncurrent %, with this bank marked when a value is reported.
10th 0.00%Median 0.30%90th 1.43%Observations 56
Leverage
FDIC
RBC1AAJ17.13%88th percentileToggle Leverage distribution
Distribution histogram for Leverage, with this bank marked when a value is reported.
10th 8.52%Median 11.01%90th 17.74%Observations 58
Well-capitalized threshold (12 CFR 6.4 / 208.43 / 324.403) is shown as a supervisory screening criterion, not a limit or violation.
IB deposit cost
FDIC
EINTEXP + DEPIDOM2.30%60th percentileToggle IB deposit cost distribution
Distribution histogram for IB deposit cost, with this bank marked when a value is reported.
10th 1.82%Median 2.39%90th 3.95%Observations 56
CRE/capital
FDIC
LNRENROT + LNREMULT + LNRECONS + RBCToggle CRE/capital distribution
Distribution histogram for CRE/capital, with this bank marked when a value is reported.
10th 1%Median 60%90th 215%Observations 39
Interagency CRE supervisory criterion (FIL-104-2006) is shown as a supervisory screening criterion, not a limit or violation. The 300% total-CRE criterion is considered with 50% growth over the prior 36 months.
Whiskers show the 10th–90th percentile, the box shows the middle half, and the dot marks this bank. Favorable-direction metrics are oriented using registry polarity; neutral metrics are ordered from lower to higher reported value and carry no favorable interpretation.
Lower displayed standingPeer medianHigher displayed standing
ROA
FDIC
NETINC + ROA1.63%33rd percentileToggle ROA distribution
Distribution histogram for ROA, with this bank marked when a value is reported.
10th 0.98%Median 2.13%90th 2.67%Observations 13
ROE
FDIC
NETINC + ROE10.71%25th percentileToggle ROE distribution
Distribution histogram for ROE, with this bank marked when a value is reported.
10th 8.39%Median 14.00%90th 25.91%Observations 13
NIM
FDIC
NIM + NIMY4.35%50th percentileToggle NIM distribution
Distribution histogram for NIM, with this bank marked when a value is reported.
10th 3.04%Median 4.35%90th 4.87%Observations 13
Efficiency
FDIC
NONIX + NIM + NONII + EEFFR49.15%67th percentileToggle Efficiency distribution
Distribution histogram for Efficiency, with this bank marked when a value is reported.
10th 40.37%Median 49.56%90th 62.84%Observations 13
Deposits YoY
FDIC
DEP+1.91%27th percentileby valueToggle Deposits YoY distribution
Distribution histogram for Deposits YoY, with this bank marked when a value is reported.
10th +1.60%Median +4.67%90th +10.72%Observations 12
Loans YoY
FDIC
LNLSNET+5.87%45th percentileby valueToggle Loans YoY distribution
Distribution histogram for Loans YoY, with this bank marked when a value is reported.
10th −0.69%Median +6.78%90th +14.53%Observations 12
Noncurrent %
FDIC
P9ASSET + NAASSET + LNLSGR0.33%27th percentileToggle Noncurrent % distribution
Distribution histogram for Noncurrent %, with this bank marked when a value is reported.
10th 0.00%Median 0.08%90th 1.11%Observations 12
Leverage
FDIC
RBC1AAJ17.13%83rd percentileToggle Leverage distribution
Distribution histogram for Leverage, with this bank marked when a value is reported.
10th 9.38%Median 11.63%90th 17.42%Observations 13
Well-capitalized threshold (12 CFR 6.4 / 208.43 / 324.403) is shown as a supervisory screening criterion, not a limit or violation.
IB deposit cost
FDIC
EINTEXP + DEPIDOM2.30%55th percentileToggle IB deposit cost distribution
Distribution histogram for IB deposit cost, with this bank marked when a value is reported.
10th 2.20%Median 2.33%90th 2.71%Observations 12
CRE/capital
FDIC
LNRENROT + LNREMULT + LNRECONS + RBCToggle CRE/capital distribution
Distribution histogram for CRE/capital, with this bank marked when a value is reported.
10th 5%Median 26%90th 74%Observations 6
Interagency CRE supervisory criterion (FIL-104-2006) is shown as a supervisory screening criterion, not a limit or violation. The 300% total-CRE criterion is considered with 50% growth over the prior 36 months.
Whiskers show the 10th–90th percentile, the box shows the middle half, and the dot marks this bank. Favorable-direction metrics are oriented using registry polarity; neutral metrics are ordered from lower to higher reported value and carry no favorable interpretation.
Branches & markets
Physical footprint
4 domestic branches reported in the latest Call Report.
FDIC
OFFDOMHistory
Institution established
Filings
Q1 2026 Call Report
Q4 2025 Call Report
Q3 2025 Call Report
Q2 2025 Call Report
Public data, presented without a proprietary bank rating.FDIC source data