Merchants State Bank, Financial Information

Terms and Definitions

• Domestic deposits

  The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
• Equity capital

  Total equity capital (includes preferred and common stock, surplus and undivided profits).
• ROA

  Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
• ROE

  Return on equity, annualized net income as a percent of average equity on a consolidated basis.

Merchants State Bank was founded August 8, 1899. The original location was where Mane Attraction is currently located in Freeman. Due to the failure of a correspondent bank and the loss of the bank's deposits with that bank, Merchants State Bank was forced to close briefly in 1930. It reopened within three months, after the shareholders invested additional capital and repaid depositors.

By 1988, the bank had grown to $24 million in assets, and Merchants State Bank was able to purchase the assets of Hurley State Bank in Hurley, South Dakota. In April of 2000, an additional location was added in Viborg, South Dakota, and the asset size had increased to $103 million. Most recently, in the fall of 2011, the bank added its third branch location in Irene, South Dakota. Since then Merchants State Bank's asset size has continued to increase to around $118 million.

Whether you are looking for personal, agricultural, or commercial services, Merchants State Bank can meet your needs with the variety of products and services.

Freeman
305 S. Main
PO Box 399
605-925-4222

Hurley
606 Center Avenue
PO Box 308
605-238-5255

Viborg
103 N. Main
PO Box 535
605-766-4255

Irene
207 Main St.
PO Box 7
605-263-0170