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
