Intro – Merchants Bank Reviews & Ranking


AdvisoryHQ recently published its list and review of the top banking firms in Minnesota, a list that included Merchants Bank.

Below we have highlighted some of the many reasons Merchants Bank was selected as one of the best banking firms in Minnesota.

Click here for a detailed review of AdvisoryHQ’s selection methodology: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.


Merchants Bank Review


Merchants Bank has been doing business in the financial services industry since 1875. The parent company of Merchants Bank, Merchants Financial Group, is one of the largest independent financial organizations in their region.

The company is locally owned by their employees through their Employee Stock Ownership Program. For this reason, the employees of this top bank in Minnesota have a vetted interest in the success of the bank and work hard to make sure that every customer is given top-notch service.

With total assets in excess of $1.6 billion, Merchants Bank is able to quickly and efficiently meet the financial needs of the communities they serve. This community bank in Minnesota has financial banking solutions to fit the needs of individuals, families, and businesses of all sizes.

Merchants Bank Review

Photo courtesy of: Merchants Bank

Key Factors Leading Us to Rank This Firm as One of This Year’s Top Banking Firms

Upon completing our detailed review, Merchants Bank was included in AdvisoryHQ’s ranking of this year’s best banking firms based on the following factors. 



Merchants Bank Review: Certificates of Deposit

Merchants Bank offers CD accounts for regular savings, retirement accounts (IRA), and Health Savings Accounts (HSA).

They offer flexible terms starting from just three months for those who don’t wish to lock their money in for too long. The majority of their CDs require a minimum opening deposit of $500.

For those seeking to invest a larger amount of money and wish to see it grow more quickly than it typically would with a CD, Merchants Bank offers higher yield CDs with an extremely good guaranteed rate of return.

These CD rates will be tough to beat anywhere else, making this best bank in Minnesota a great place to invest funds.

Merchants Bank Review: Mortgages

Merchants Bank is a Minnesota bank that is serious about helping customers become home-owners. They offer a complete line of mortgage products at competitive rates and strive to fit each customer with the mortgage option that is right for their unique situations and needs.

Mortgage options provided at this bank in Minnesota are:

  • Conventional or traditional mortgages
  • VA loans
  • FHA loans
  • Rural development loans
  • Construction loans
  • Lot loans

To help navigate the confusing landscape of mortgage products, Merchants Bank has several guides available for download that explain what each mortgage product is and how the process works.



Merchants Bank Review: Manage My Money

Manage My Money is a free personal financial tool available to Merchant Bank account holders through their online banking feature.

With Manage My Money, customers of this bank in Minnesota are able to manage their complete financial picture across all of their financial accounts, even those held at separate financial institutions.

Enrolling in Manage My Money is easy, and once enrolled, users will be able to:

  • View information from all financial accounts including credit cards, loans, checking, savings, real estate, investments, and more
  • Track spending
  • Set budgets and financial goals
  • Create alerts for account balances, large transactions, and more

Merchants Bank Review: Ag Loans

Merchants Bank partners with farmers and business owners to help create prosperous and ag-related businesses. This Minnesota bank’s experienced ag banking team understand farming and in fact some of them are farmers themselves.

Merchants Bank doesn’t just talk the talk when they claim to be dedicated to helping farmers and other ag-related businesses. This bank in Minnesota is a Farm Service Agency (FSA) preferred lender and a designated agBMP Loan Program Lender.

Merchants Bank offers market competitive rates and terms for their agriculture loan products, which include:

  • Ag loans
  • Beginning farming loans/start up loans
  • Agriculture real estate loans
  • Lines of credit
  • Fleet/truck loans
  • Lease financing

In addition to the above Merchants Bank review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top rated banking firms & credit unions:



AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.