Merchants State Bank
Headquarters: Freeman, South Dakota
Overview
Merchants State Bank is an FDIC-insured bank headquartered in Freeman, South Dakota. It reported $219.57M in assets and $180.69M in deposits for the period ending June 30, 2026. Bankular currently lists 4 branch locations.
What Bankular checked
These dates identify the official records and review steps supporting this profile.
Quarterly change
What changed since the previous report
March 31, 2026 to June 30, 2026
These comparisons use consecutive official regulatory reporting periods. A change is descriptive and is not a recommendation or safety rating.
Financial indicators
Capital, profitability and credit quality
These are the latest reported capital, profitability and credit-quality measures available for this institution. Read the figures together rather than as a single safety rating.
Locations
Find a branch of Merchants State Bank
Hurley Branch
606 Center Ave, Hurley, South Dakota, 57036
Full-service branch · Opened October 11, 1988
Irene Branch
209 Main Street, Irene, South Dakota, 57037
Full-service branch · Opened December 5, 2011
Main Office
305 S Main St, Freeman, South Dakota, 57029
Full-service branch · Opened August 8, 1899
Viborg Office
201 N Main St, Viborg, South Dakota, 57070
Full-service branch · Opened April 27, 2000
Financial overview
Latest reported figures
Through June 30, 2026
Financial trends
How the balance sheet has changed
Compare recent quarters to see the direction of assets, deposits and loans.
| Quarter | Assets | Deposits | Net loans | ROA |
|---|---|---|---|---|
| June 30, 2026 | $219.57M | $180.69M | $146.57M | 1.90% |
| March 31, 2026 | $217.59M | $176.45M | $146.58M | 1.63% |
| December 31, 2025 | $221.54M | $180.70M | $148.19M | 1.74% |
| September 30, 2025 | $212.53M | $169.83M | $138.64M | 1.91% |
| June 30, 2025 | $214.71M | $173.70M | $139.86M | 1.88% |
| March 31, 2025 | $216.87M | $173.14M | $138.45M | 1.83% |
| December 31, 2024 | $209.41M | $171.68M | $141.84M | 1.55% |
| September 30, 2024 | $212.25M | $173.45M | $138.76M | 1.70% |
Size and reach
How this institution compares
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More on Merchants State Bank
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Branch locations
4 listed locations.
Explore →Compare this institution
Compare size, financial metrics, rates and access.
Explore →State banking market
Explore institutions and deposit-market context in South Dakota.
Explore →Freeman banking market
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Explore →Rankings and research
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Explore →Sources and methodology
Review the official sources and reporting periods.
Explore →Frequently asked questions
Is Merchants State Bank federally insured?
Yes. Bankular identifies this institution in FDIC records under certificate 1125.
Where is Merchants State Bank headquartered?
Merchants State Bank is headquartered in Freeman, South Dakota, at 305 S Main St, Freeman, South Dakota, 57029.
How large is Merchants State Bank?
It reported $219.57M in assets and $180.69M in deposits for the period ending June 30, 2026.
How many locations does Merchants State Bank have?
Bankular currently lists 4 branch locations for this institution.
Data sources and methodology
Bankular combines official regulatory records with institution-published product information. The detailed sources are available below for readers who want to verify a figure.