← Back to Institutions
Merchants Bank, National Association
Winona, MN·FDIC Cert #8866·Charter: OCC·Est. 18750101.0·HC: MERCHANTS FINANCIAL GROUP INC
Total Assets
$2.9B
Q4 2025
Return on Assets
1.23%
+0.03%Peer avg: 1.24%
Equity / Assets
0.00%
Capital ratio
Efficiency Ratio
64.78%
Peer avg: 58.2%
CAMELS Profile
Capital, Asset Quality, Management, Earnings, Liquidity, Sensitivity
57
Fair
Income Decomposition
Waterfall — how net income is built
Key Ratios — 12-Quarter Trend
ROA
1.23%+0.03
ROE
10.82%+0.24
Efficiency
64.78%-0.00
Equity/Assets
0.00%+0.00
NPL Ratio
0.84%-0.07
Tier 1 Leverage
0.00%+0.00
Loan/Deposit
80.27%-2.83
Charge-offs
0.06%+0.02
Quarter-over-Quarter Changes
Heatmap — green = improving, red = deteriorating
| Ratio | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 |
|---|---|---|---|---|---|---|---|---|
| ROA | 0.9 | 0.9 | 0.8 | 0.8 | 1.0 | 1.1 | 1.2 | 1.2 |
| ROE | 8.2 | 7.8 | 7.2 | 6.9 | 9.2 | 9.9 | 10.6 | 10.8 |
| Efficiency | 68.5 | 68.7 | 66.0 | 66.3 | 66.2 | 67.9 | 64.8 | 64.8 |
| Equity/Assets | — | — | — | — | — | — | — | — |
| Tier 1 Lev. | — | — | — | — | — | — | — | — |
| NPL Ratio | 0.6 | 0.6 | 0.8 | 0.3 | 0.4 | 0.8 | 0.9 | 0.8 |
| Charge-offs | 0.1 | 0.1 | 0.2 | 0.4 | 0.0 | 0.1 | 0.0 | 0.1 |
| Loan/Deposit | 97.1 | 96.9 | 91.7 | 86.0 | 83.8 | 85.8 | 83.1 | 80.3 |
Balance Sheet
Total Assets$2.9B
Total Deposits$2.5B
Total Loans$2.0B
Total Equity$335.6M
Profitability
ROA1.23%
ROE10.82%
Efficiency Ratio64.78%
Net Income$34.7M
Risk & Asset Quality
NPL Ratio0.84%
Charge-off Rate0.06%
Loan/Deposit80.27%
Tier 1 LeverageN/A
Historical Trends
Balance Sheet ($B)
Assets, Deposits, Loans
Profitability Ratios
ROA, ROE (%)
Efficiency Ratio
Lower = more efficient
Asset Quality — NPL Ratio
Non-performing loans / total loans