Bank · FDIC insured
Merchants Bank
A $2.9B bank headquartered in Winona, MN, with 22 branches in 2 states. Best rates: CDs 4.05% and savings 0.55% APY.
Merchants Bank Carrot Score
80
Carrot Score
Higher than 52% of U.S. banks and credit unions
#48 of 97 in Minneapolis, MN-WI metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Merchants Bank
Merchants Bank is a community bank operating in Minnesota and Wisconsin.
- Headquarters
- 100 E 3rd St, Winona, MN 55987
- FDIC certificate
- 8866 ↗
Branches
22 branches in 2 states
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Minnesota
20 branches
Minneapolis area · 5
- Apple Valley Branch7300 147th St W, Apple Valley, MN 55124Directions
- Cottage Grove Branch7200 East Douglas Point Road South, Cottage Grove, MN 55016Directions
- Hastings Branch1525 Vermillion St, Hastings, MN 55033Directions
- Lakeville Branch18550 Joplin Ave, Lakeville, MN 55044Directions
- Rosemount National Bank Branch15055 Chippendale Avenue South, Rosemount, MN 55068Directions
Winona area · 4
- Merchants Bank, National AssociationMain office100 E 3rd St, Winona, MN 55987Directions
- St. Charles Branch1130 Whitewater Ave, St. Charles, MN 55972Directions
- Goodview Facility4124 Sixth Street-Goodview, Winona, MN 55987Directions
- Merchants Lakeside Branch627 Mankato Ave, Winona, MN 55987Directions
Rochester area · 4
- Lanesboro Branch118 Parkway Ave N, Lanesboro, MN 55949Directions
- Rochester Green Meadows Branch1600 Greenview Dr Sw, Rochester, MN 55902Directions
- Rochester Northwest Plaza Branch3586 55th St Nw, Rochester, MN 55901Directions
- Rushford Branch101 W Jessie St, Rushford, MN 55971Directions
La Crosse area · 3
- Caledonia Branch115 W Washington St, Caledonia, MN 55921Directions
- La Crescent Branch316 Main St, La Crescent, MN 55947Directions
- Spring Grove Branch126 W Main St, Spring Grove, MN 55974Directions
Red Wing area · 2
- Cannon Falls Branch300 Main St W, Cannon Falls, MN 55009Directions
- Redwing Branch2835 S Service Dr, Red Wing, MN 55066Directions
Faribault area · 2
- Northfield Branch1611 Honey Locust Dr, Northfield, MN 55057Directions
- Old Fnb Of Northfield Branch329 Division St S, Northfield, MN 55057Directions
Wisconsin
2 branches
Eau Claire area · 1
- Alliance Bank Branch2728 Mall Dr, Eau Claire, WI 54701Directions
La Crosse area · 1
- Onalaska Branch3140 Market Pl, Onalaska, WI 54650Directions
Walk-in offices from the FDIC directory as of September 4, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This bank | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalLeverage ratio | 11.49% | 10.49% | 11.89% or more |
| Troubled loansNoncurrent | 0.53% | 0.52% | 0.23% or less |
| ProfitabilityReturn on assets | 1.23% | 1.25% | 1.62% or more |
| LendingLoans per $100 deposited | $83 | $88 | — |
- CapitalLeverage ratio11.49%Peers’ middle 10.49% · Top 25% 11.89%+
- Troubled loansNoncurrent0.53%Peers’ middle 0.52% · Top 25% ≤0.23%
- ProfitabilityReturn on assets1.23%Peers’ middle 1.25% · Top 25% 1.62%+
- LendingLoans per $100 deposited$83Peers’ middle $88
Compared with the 897 banks with $1 billion to $10 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are noncurrent: 90 or more days late, or no longer earning interest.
Regulators’ own ratings of Merchants Bank are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.