Merchants Bank (Winona, MN)
Merchants Bank (Winona, MN) reported total assets of $2.9 bn at Q2 2026, up 4.1% on a year earlier, the 437th largest of 497 banks in our US coverage. The CET1 capital ratio at Merchants Bank (Winona, MN) was 13.46%, and the uninsured share of Merchants Bank (Winona, MN) was 25.78%. Source: FDIC Call Reports.
Key takeaways
- On noncurrent loans to total loans, Merchants Bank (Winona, MN) climbed from 345th to 209th among 500 US banks between and (1 = lowest; FDIC Call Reports).
- Since , Merchants Bank (Winona, MN) has taken over one institution; the latest was The First National Bank of Northfield on (FDIC Call Reports).
What sets Merchants Bank (Winona, MN) apart
How large is Merchants Bank (Winona, MN)?
The balance sheet of Merchants Bank (Winona, MN) at : assets $2.9 bn, deposits $2.5 bn, net loans $2.0 bn (loans equal to 81.50% of deposits). Securities make up 16.7% of total assets at Merchants Bank (Winona, MN). Since , when Merchants Bank (Winona, MN) held $1.6 bn, its assets grew 81.3%. In the year to , deposits at Merchants Bank (Winona, MN) rose 3.7% while its total assets rose 4.1%. At , Merchants Bank (Winona, MN) employed 385 full-time equivalent staff across 22 offices, about $7.5 mn of assets per employee and $113.6 mn of deposits per office.
How much funding at Merchants Bank (Winona, MN) is uninsured?
At Merchants Bank (Winona, MN), uninsured deposits (above the FDIC limit) made up 25.78% of domestic deposits at (+0.35 pp on a year earlier); Merchants Bank (Winona, MN) ranks 369th of 500 on this measure. In dollars, Merchants Bank (Winona, MN) estimated $644.2 mn of uninsured deposits.
Key facts, Q2 2026
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.5 bn | +3.7% | 421st of 499 |
| Net loans and leases | $2.0 bn | -1.4% | 438th of 500 |
| Loan-to-deposit ratio | 81.50% | -4.26 pp | 324th of 500 |
| Tier 1 leverage ratio | 11.49% | +0.44 pp | 127th of 500 |
| Total risk-based capital ratio | 14.60% | +1.04 pp | 205th of 448 |
| Net interest margin | 3.65% | +0.38 pp | 246th of 500 |
| Return on assets (ROA) | 1.23% | +0.12 pp | 289th of 500 |
| Efficiency ratio | 63.53% | -4.37 pp | 376th of 500 (1 = lowest) |
| Unrealized gain/loss on held-to-maturity securities | Loss of $2.4 mn | Narrowed by $469,000 | |
| Unrealized gain/loss on available-for-sale securities | Loss of $14.0 mn | Widened by $1.2 mn | |
| Noncurrent loans to total loans | 0.53% | -0.25 pp | 209th of 500 (1 = lowest) |
| Net charge-offs to average loans | 0.06% | 0.00 pp | 205th of 500 (1 = lowest) |
US rank of Merchants Bank (Winona, MN): 1 = highest unless marked 1 = lowest.
Balance sheet
Merchants Bank (Winona, MN): assets, deposits and loans
- Total assets $2.9bn
- Deposits $2.5bn
- Net loans $2.0bn
Capital and securities
The CET1 ratio of Merchants Bank (Winona, MN) stood at 13.46% in , +1.09 pp year on year. Low and high at Merchants Bank (Winona, MN) since : 10.48% () to 13.46% (). Equity capital of Merchants Bank (Winona, MN) at : $344.2 mn, or 11.9% of total assets. Merchants Bank (Winona, MN) also reported a total capital ratio of 14.60% for , and a tier 1 leverage ratio of 11.49%.
On held-to-maturity securities, Merchants Bank (Winona, MN) carried an unrealized loss of $2.4 mn at , equal to 0.7% of equity capital. The loss narrowed by $469,000 over the year. Its deepest point: $4.6 mn in . The available-for-sale portfolio of Merchants Bank (Winona, MN) showed an unrealized loss of $14.0 mn at ; the loss widened by $1.2 mn over the year.
Merchants Bank (Winona, MN): capital ratios
- Total capital 15%
- CET1 13%
- Tier 1 leverage 11%
Merchants Bank (Winona, MN): unrealized securities gains and losses
- Available for sale -$14mn
- Held to maturity -$2mn
Profitability and loan quality
For the year to , Merchants Bank (Winona, MN) earned a return on equity of 10.53%; return on assets: 1.23%. Net interest margin at Merchants Bank (Winona, MN): 3.65%, +0.38 pp in a year. Merchants Bank (Winona, MN) net income: $17.9 mn, up 15.4% year on year. The efficiency ratio of Merchants Bank (Winona, MN) was 63.53%: about 64 cents cost per revenue dollar, against 48 cents at the median peer.
At , noncurrent loans were 0.53% of total loans at Merchants Bank (Winona, MN); net charge-offs: 0.06% of average loans. Gross loans and leases at Merchants Bank (Winona, MN): $2.1 bn, down 1.5% in a year.
Merchants Bank (Winona, MN): profitability
- Return on equity 11%
- Net interest margin 3.6%
- Return on assets 1.2%
Peer group of Merchants Bank (Winona, MN)
The peer group of Merchants Bank (Winona, MN) is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 3 share the charter type of Merchants Bank (Winona, MN) (national bank), 6 sit in the same size group ($1 bn to $10 bn) and 0 have head offices in Minnesota. Against them, Merchants Bank (Winona, MN) shows CET1 ratio 13.46% against a peer median of 14.77%, return on equity 10.53% against a peer median of 14.28% and uninsured deposit share 25.78% against a peer median of 37.05%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Cedar Rapids Bank and Trust Company | State member bank | IA | $2.9 bn | 13.15% | 16.35% | 33.97% | |
| National Exchange Bank and Trust | National bank | WI | $2.9 bn | not reported | 8.80% | 40.12% | |
| American First National Bank | National bank | TX | $2.9 bn | 16.38% | 15.49% | 22.72% | |
| Merchants Bank | National bank | MN | $2.9 bn | 13.46% | 10.53% | 25.78% | |
| West Texas National Bank | National bank | TX | $2.9 bn | 16.75% | 15.54% | 64.10% | |
| Jefferson Bank | State nonmember bank | TX | $2.9 bn | not reported | 13.07% | 56.54% | |
| BayCoast Bank | State-chartered stock savings bank | MA | $2.9 bn | 10.77% | 5.65% | 32.75% | |
. FDIC Call Reports.
Last eight quarters
Two years at Merchants Bank (Winona, MN), to : assets +7.2%, deposits +7.2%, equity +12.1%. Staff 381 to 385; offices 23 to 22.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.7 bn | $2.8 bn | $2.8 bn | $2.8 bn | $2.8 bn | $2.9 bn | $2.9 bn | $2.9 bn |
| Total deposits | $2.3 bn | $2.4 bn | $2.4 bn | $2.4 bn | $2.5 bn | $2.5 bn | $2.6 bn | $2.5 bn |
| Bank equity capital | $307.0 mn | $302.9 mn | $314.7 mn | $319.3 mn | $330.0 mn | $335.6 mn | $340.5 mn | $344.2 mn |
| CET1 ratio | 12.27% | 11.75% | 12.26% | 12.37% | 12.94% | 12.90% | 13.29% | 13.46% |
| Return on equity (ROE) | 7.17% | 6.87% | 9.16% | 9.94% | 10.58% | 10.82% | 10.54% | 10.53% |
| Uninsured share of domestic deposits | 26.26% | 27.75% | 25.63% | 25.43% | 26.56% | 27.63% | 27.15% | 25.78% |
| Full-time equivalent employees | 381 | 387 | 380 | 378 | 376 | 383 | 376 | 385 |
| Number of offices | 23 | 23 | 23 | 22 | 22 | 22 | 22 | 22 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Merchants Bank (Winona, MN), oldest first; figures before and after each event are not like for like.
- . Absorbed The First National Bank of Northfield (FDIC certificate 5218).
Large one-quarter moves at Merchants Bank (Winona, MN)
- Total assets at Merchants Bank (Winona, MN) changed by +27.4% in the quarter to 2020-06-30: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from The First National Bank of Northfield.
Questions and identifiers
What were the total assets of Merchants Bank (Winona, MN)?
Merchants Bank (Winona, MN) reported $2.9 bn at in its Call Report. That makes Merchants Bank (Winona, MN) the 437th largest of 497 banks in our US coverage.
Is Merchants Bank (Winona, MN) the same as its holding company?
No. This page covers Merchants Bank (Winona, MN), FDIC certificate 8866; MERCHANTS FINANCIAL GROUP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Merchants Bank (Winona, MN) profitable?
Merchants Bank (Winona, MN) reported net income of $17.9 mn for the year to ; annualized return on equity: 10.53%. So yes: Merchants Bank (Winona, MN) made a profit over these months.
When is data for Merchants Bank (Winona, MN) next updated?
Figures from Merchants Bank (Winona, MN) for are due after .
Where can I check the figures for Merchants Bank (Winona, MN)?
In the FDIC BankFind Suite record for certificate 8866, and in the Call Reports of Merchants Bank (Winona, MN) (RSSD ID 779351) at the FFIEC Central Data Repository.