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Merchants State Bank
✓ FDIC-insured · Active FDIC Certificate #1125
Merchants State Bank is an FDIC-insured state-chartered bank that is a member of the Federal Reserve System, headquartered in Freeman, South Dakota, established in 1899. As of the 06/30/2026 FDIC call report, it reported $220M in total assets and $181M in deposits. FDIC location data lists 4 offices in South Dakota. The FDIC classifies it as a community bank. It is owned by the holding company H & W HOLDING CO (Freeman, SD).
Financial data as of the 06/30/2026 FDIC call report.
Where it operates
All 4 of Merchants State Bank's FDIC-listed offices are in South Dakota. Browse banks in Freeman for other local options.
Branch locations
| Merchants State Bank Hurley Branch · Full Service - Brick And Mortar | 606 Center Ave Hurley, SD 57036 Map ↗ |
| Merchants State Bank Viborg Office Branch · Full Service - Brick And Mortar | 201 N Main St Viborg, SD 57070 Map ↗ |
| Merchants State Bank Irene Branch · Full Service - Brick And Mortar | 209 Main Street Irene, SD 57037 Map ↗ |
| Merchants State Bank Merchants State Bank · Full Service - Brick And Mortar | 305 S Main St Freeman, SD 57029 Map ↗ |
Holding company: H & W HOLDING CO
The FDIC lists H & W HOLDING CO, based in Freeman, SD, as the top holding company for Merchants State Bank. The FDIC shows no other active insured banks under the same holding company.
Similar-size banks in South Dakota
Active FDIC-insured banks headquartered in South Dakota with total assets closest to Merchants State Bank's $220M. See all banks in South Dakota.
| Bank | HQ city | Assets | Offices |
|---|---|---|---|
| Security Bank Midwest | Tyndall | $304M | 6 |
| One American Bank | Centerville | $285M | 3 |
| Commercial State Bank, of Wagner | Wagner | $260M | 1 |
| Farmers State Bank | Parkston | $255M | 3 |
| Security National Bank of South Dakota | Dakota Dunes | $251M | 3 |
| Quoin Financial Bank | Miller | $251M | 3 |
| Campbell County Bank, Inc. | Herreid | $241M | 4 |
| Farmers and Merchants State Bank | Plankinton | $180M | 2 |
Merchants State Bank: common questions
Is Merchants State Bank FDIC-insured?
Yes. Merchants State Bank is an active FDIC-insured institution, FDIC Certificate #1125. Deposits are insured up to $250,000 per depositor, per ownership category. You can confirm this on FDIC BankFind.
Where is Merchants State Bank headquartered?
Merchants State Bank is headquartered at 305 S Main St, Freeman, SD 57029, according to FDIC records.
How many branches does Merchants State Bank have?
FDIC location data lists 4 offices for Merchants State Bank, all in South Dakota.
Who owns Merchants State Bank?
The FDIC lists H & W HOLDING CO of Freeman, SD as the top holding company for Merchants State Bank.
Source: FDIC BankFind Suite (institution, location, and call report data). BankNearMe.com does not rank or rate banks.