Total Assets
$222M
Total balance-sheet footings
2026 data FDIC sourced Public-data reference.
Merchants State Bank — FDIC Bank Health Profile
Freeman, South Dakota · Est. 1899. Free, sourced from the FDIC BankFind Suite — refreshed each quarter and cross-checked against the FDIC Call Report.
State chartered State member bank FDIC Cert #1125 Kansas City Region
D
Health grade
Weak
Score: 37/100
Basel III capital ratios — Merchants State Bank
Total Deposits
$181M
Customer-funded liabilities
Net Loans
$148M
Outstanding loan book
Net Income
$4M
Bottom-line earnings
Safety Metrics
Tier 1 capital ratio
Well-capitalized 10%
0.00% of risk-weighted assets — below the federal "well-capitalized" threshold of 10%.
Tier 1 Capital Ratio
Core capital ÷ risk-weighted assets. Well-capitalized: ≥10%
0.00%
Texas Ratio
Non-performing loans ÷ equity. Danger zone: >100%
—
Equity Capital
Tangible book value as a capital buffer
$33M
Profitability Metrics
Return on Assets (ROA)
Net income ÷ assets. Healthy: ≥1%
1.74%
Return on Equity (ROE)
Net income ÷ equity. Industry avg: ~10%
12.21%
Efficiency Ratio
Operating costs ÷ revenue. Efficient: <60%
55.94%
Income & Expense Breakdown
$12M
Interest Income
$374K
Non-Interest Income
$5M
Non-Interest Expense
FDIC Deposit Insurance
Merchants State Bank is FDIC-insured (Certificate #1125). Your deposits are protected up to $250,000 per depositor, per account category regardless of this bank's health grade.
What the Numbers Say About Merchants State Bank
Merchants State Bank is an FDIC-insured institution (Certificate #1125) headquartered in Freeman, South Dakota, established in 1899. The bank currently holds $222M in total assets and $181M in customer deposits, with $148M deployed as loans. It operates as a State chartered (State member bank) within the FDIC Kansas City region. These figures come directly from the bank's quarterly FDIC Call Report and reflect the balance sheet as of the latest regulatory filing.
On safety metrics, Merchants State Bank reports a Tier 1 Capital Ratio of 0.00% — below the 6% "adequately capitalized" minimum set by federal regulators and a Texas Ratio of —. Equity capital stands at $33M, serving as the tangible buffer against loan losses. On profitability, the bank posted a Return on Assets of 1.74% and a Return on Equity of 12.21%, with an Efficiency Ratio of 55.94% — below the 60% mark considered efficient for the industry. The combined picture yields a PlainBankData health grade of D (37/100), a composite score that blends all four dimensions.
Not financial advice. This page summarizes public FDIC Call Report data for informational purposes only. Health grades are our interpretation of regulatory filings and are not official FDIC ratings, endorsements, or predictions. Regardless of grade, every dollar on deposit at Merchants State Bank is protected by FDIC insurance up to $250,000 per depositor, per ownership category — even if the bank were to fail. For decisions about where to hold deposits, consult a qualified financial professional and verify the latest figures directly at the FDIC's BankFind Suite.
Top 5 banks in South Dakota by total assets
Source: FDIC BankFind Suite — Call Report (FFIEC 031/041) + CRA performance data Merchants State Bank (FDIC Cert #1125) — Tier 1 capital ratio, total assets, deposits, CRA rating · 2025 FDIC Call Reports filed quarterly; latest publicly-available vintage shown. Health grades are PlainBankData's interpretation of regulatory filings and are not official FDIC ratings.
Other Banks in South Dakota
All South Dakota banks →| Bank | Assets | Grade | ROA |
|---|---|---|---|
| Citibank, National Association Sioux Falls | $1.8T | C | 0.85% |
| Wells Fargo Bank, National Association Sioux Falls | $1.8T | B | 1.41% |
| The Bancorp Bank, National Association Sioux Falls | $9.3B | B | 2.81% |
| Pathward, National Association Sioux Falls | $7.6B | B | 2.65% |
| Dacotah Bank Aberdeen | $4.8B | C | 1.01% |
| First Bank & Trust Brookings | $4.7B | F | 1.02% |
| First PREMIER Bank Sioux Falls | $4.2B | B | 1.67% |
| First Dakota National Bank Yankton | $3.2B | C | 1.38% |
Frequently Asked Questions
What is Merchants State Bank's health grade? ▼
Merchants State Bank receives a health grade of D (37/100) based on four FDIC financial metrics: Tier 1 Capital Ratio (40%), Return on Assets (25%), Texas Ratio (20%), and Efficiency Ratio (15%). This bank shows notable financial weaknesses. Your deposits remain FDIC-insured up to $250,000.
How large is Merchants State Bank? ▼
Merchants State Bank holds $222M in total assets and $181M in deposits. It is headquartered in Freeman, South Dakota.
Is my money safe at Merchants State Bank? ▼
Yes. Merchants State Bank is FDIC-insured (Certificate #1125). Your deposits are protected up to $250,000 per depositor, per account category, regardless of the bank's health grade. If a bank fails, the FDIC typically makes insured deposits available within one business day.
What is Merchants State Bank's Tier 1 Capital Ratio? ▼
Merchants State Bank has a Tier 1 Capital Ratio of 0.00%. The federal "well-capitalized" threshold is 10%. This bank is below the 6% minimum for "adequately capitalized" status.
How efficient is Merchants State Bank? ▼
Merchants State Bank has an Efficiency Ratio of 55.94%. Below 60% is considered efficient — the bank converts a strong share of revenue into profit. This metric compares non-interest expenses to total revenue.
Bank Safety Guides
Related Data Sources
Data from the FDIC BankFind Suite API. Financial data as of Q4 2025.
Related
Data sourced from official U.S. government datasets. See our methodology for details. Retrieved and formatted by PlainBankData Editorial
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the FDIC BankFind Suite. Consult a qualified professional before making decisions based on this data.
Read our methodology — how this data is sourced, computed, and verified.