Merchants State Bank
Freeman, SD
IDRSSD: 289757
Total Assets
$221.54M
Latest filing
Total Deposits
$180.70M
Latest filing
Net Interest Margin
4.33%
Profitability
Key People
Loading leadership data...
Locations
Main office and branches. Select to view on the map.
Main Office
Merchants State Bank
305 S Main St
Freeman, SD 57029
Full Service - Brick and Mortar
Updated 01/30/2026Established 08/08/1899FDIC Certificate 767
Branches (3)
Page 1 of 1| Name | Address | City / State |
|---|---|---|
| Merchants State Bank (Main) | 305 S Main St | Freeman, SD |
| HURLEY BRANCH | 606 Center Ave | Hurley, SD |
| VIBORG OFFICE BRANCH | 201 N Main St | Viborg, SD |
| IRENE BRANCH | 209 Main Street | Irene, SD |
Showing 3 of 3
Quarterly Trends
Tooltip shows Quarter only. Download buttons export the chart only (CSV/PNG with white background).
Total Assets vs Total Liabilities
Loans & Leases vs Deposits
Interest Income vs Expense
Net Interest Income
Noninterest Expense vs Income
Net Income
Similar banks
Campbell County Bank, Inc.
Herreid, South Dakota
→
Assets: $204.68MΔ -3.7%
Security National Bank of South Dakota
Dakota Dunes, South Dakota
→
Assets: $241.29MΔ +13.5%
Quoin Financial Bank
Miller, South Dakota
→
Assets: $245.73MΔ +15.6%
Farmers State Bank
Parkston, South Dakota
→
Assets: $250.59MΔ +17.9%
Commercial State Bank, of Wagner
Wagner, South Dakota
→
Assets: $252.92MΔ +19.0%
Farmers and Merchants State Bank
Plankinton, South Dakota
→
Assets: $162.94MΔ -23.3%
Institution Profile
| Institution Class | Commercial bank, state charter, Fed member, supervised by FRB |
| Primary Regulator | FED |
| Established Date | 08/08/1899 |
| Community Bank | Yes |
| Ownership Type | Not Mutual |
| ZIP | 57029 |
| State and County Number | 46067 |
| Subchapter S Corporations | Yes |
| Trust Powers | N/A |
| Federal Reserve ID Number | 09 |
| Numeric code | 13 |
| Insured by FDIC | Institutions that are currently open and insured by the FDIC |
| Federal Reserve District | Kansas City |
| Core Based Statistical Area Name | N/A |
Operational Info
| Number of Employees | 31 |
| Domestic Offices | 4 |
| Foreign Offices | 0 |
| US Offices | 0 |
| Directly owned by another bank (CERT) | No |
| Last Structure Change Effective Date | 06/30/2024 |
| Date of Deposit Insurance | 01/01/1934 |
| Primary Insurance Agency | DIF |
| Website | www.msb-sd.com |
| Data Updated | 01/30/2026 |
| CERT | 1125 |
| Office of The Comptroller District: | — |
| Office of Thrift Supervision Region | N/A |
Financial Summary
| Total Assets | $221.54M |
| Total Deposits | $180.70M |
| Total Liabilities | $188.38M |
| Total Equity Capital | $33.17M |
| Net Income | $682.00k |
| Net Loans and Leases | $148.19M |
| Assets Per Employee ($Millions) | $6.71M |
| Bank Premises and Fixed Assets | $1.60M |
| Cash and Balances due from Depository Institutions | $5.30M |
| Deposits Held in Domestic Offices | $180.70M |
Key Performance Ratios
| Return on Assets (ROA) | 1.26% |
| Return on Equity (ROE) | 8.35% |
| Net Interest Margin | 4.33% |
| Efficiency Ratio | 68.93% |
| Tier 1 Risk-Based Capital Ratio | 0% |
| Net Loans and Leases to Core Deposits | 0% |
| Credit Loss Provision to Assets | 0% |
| Cash Dividends to Net Income (YTD Only) | 0% |
| Equity Capital to Assets | 14.97% |
| Earning Assets to total Assets | 94.48% |
Income and Expense
| Total Interest Income | $3.09M |
| Total Noninterest Income | $78.00k |
| Total Interest Expense | $865.00k |
| Total Noninterest Expense | $1.59M |
| Net Interest Income | $2.22M |
| Pre-tax Net Operating Income | $715.00k |
| Provision for Credit Losses | $0 |
| Discontinued Operations (Extraordinary Gains - Net) | $0 |
Additional Financial Info
| Goodwill and Other Intangibles | $0 |
| All Other Assets | — |
| Other Real Estate Owned | $0 |
| Other borrowed funds | $4.00M |
| Federal Funds Sold & Reverse Repurchase Agreement | $4.44M |
| Federal Funds Purchased and Repurchased Agreement | $0 |
| All Other Liabilities | $3.68M |
| Total Liabilities and Capital | $221.54M |
Securities
| Securities | $52.51M |
| Available-for-sale debt securities | $52.51M |
| Equity securities with readily determinable fair values not held for trading | — |
| Held-to-maturity securities | $0 |
| Subordinated Debt | $0 |
| Trading Account Assets | $0 |
| Trading Liabilities | $0 |
Frequently Asked Questions
What are the total assets of Merchants State Bank?
$221.54M as of the latest filing.
How much are Merchants State Bank's total deposits?
$180.70M in total deposits.
Where is Merchants State Bank located?
Freeman, SD.
What is the Net Interest Margin?
4.33%.
How many domestic offices does it operate?
4.
When was it established?
08/08/1899.
What is the Return on Assets (ROA)?
1.26%.
How much are total loans and leases?
$148.19M (latest filing).
What is the total interest income (latest filing)?
$3.09M.