BlastPoint's Banking Scorecard

Merchants State Bank

$100M-$1B Specialty: Agricultural SD FDIC cert 1125

Freeman, SD

4 branches across SD

NEW · Q2 2026 RECAP

Your Quarter, Wrapped

A 35-second highlight reel of your Q2 — the wins worth celebrating and the one signal worth watching, pulled straight from your scorecard data.

Q2 2026 at a glance

1 of 2,643 banks in the $100M-$1B peer group nationwide — 1 of 24 in SD.
Deposits +4.0% year over year ($180.7M on the books).
Delinquency rate 0.32%.
Return on assets 1.90%.
Efficiency ratio 48.57% vs a 64.48% peer average.
Loan-to-deposit ratio 81.12% vs a 77.95% peer average.

Animation disabled (reduced-motion preference). Full details in the Core Metrics table below.

2643 banks in the $100M-$1B peer group nationally 24 in SD

View $100M-$1B leaderboard (SD) →

Merchants State Bank has 4 strengths but faces 2 concerns

Key Strengths include matched growth signatures, metrics ranked in the top 10%, and values meaningfully above the tier average.

Key Concerns include matched risk or decline signatures, metrics ranked in the bottom 10%, and values meaningfully below the tier average.

Key Strengths

Areas where this bank excels compared to peers

+ ROA 0.58% above tier average
+ Net Interest Margin 0.44% above tier average
+ Efficiency Ratio 15.90% below tier average
+ Delinquency Rate 0.60% below tier average

Key Concerns

Areas that may need attention

- Credit Risk Growth: Bottom 18.2% in tier
- Credit Quality Pressure: Bottom 24.4% in tier

Get updates when Merchants State Bank releases new data →

Core Metrics

As of 2026-Q2

Metric	Current	vs Tier	Tier Avg	State Avg (SD)	National Avg	Tier Percentile
Total Assets ?	$219.6M +2.3% YoY +0.9% QoQ	-$167.0M	$386.6M +1.2% YoY	$70.4B +8.4% YoY	$6.3B +7.7% YoY	31%
Total Loans ?	$146.6M +4.8% YoY -0.0% QoQ	-$111.8M	$258.3M +1.7% YoY	$31.5B +10.3% YoY	$3.2B +9.4% YoY	34%
Total Deposits ?	$180.7M +4.0% YoY +2.4% QoQ	-$146.0M	$326.7M +0.7% YoY	$56.5B +10.5% YoY	$4.9B +7.3% YoY	30%
Return on Assets ?	1.90% +1.0% YoY +16.8% QoQ	+0.58%	1.32% +10.8% YoY	1.40% +6.8% YoY	1.30% +12.1% YoY	84%
Net Interest Margin ?	4.43% +3.7% YoY +1.7% QoQ	+0.44%	3.99% +5.0% YoY	4.26% +1.1% YoY	3.95% +4.9% YoY	76%
Efficiency Ratio ?	48.57% -5.6% YoY -1.2% QoQ	-15.90%	64.48% -3.2% YoY	60.99% -4.4% YoY	70.05% +2.5% YoY	Top 14.0% in tier
Delinquency Rate ?	0.32% +51.7% YoY -2.7% QoQ	-0.60%	0.92% +15.7% YoY	0.78% +47.6% YoY	0.98% +16.3% YoY	56%
Loan-to-Deposit Ratio ?	81.12% +0.8% YoY -2.3% QoQ	+3.17%	77.95% +1.0% YoY	73.26% -0.6% YoY	79.03% +2.3% YoY	47%
Non-Interest-Bearing Deposit Share ?	22.10% +4.5% YoY -7.3% QoQ	+0.07%	22.03% -0.6% YoY	23.46% +3.2% YoY	21.98% -0.6% YoY	55%
Nonperforming Asset Ratio ?	0.21% +55.5% YoY -3.6% QoQ	-0.46%	0.67% +16.4% YoY	0.54% +39.8% YoY	0.69% +15.8% YoY	59%
Tier 1 Capital Ratio ?	17.26% +5.3% YoY +0.8% QoQ	+1.35%	15.91% +1.4% YoY	15.80% +1.0% YoY	17.09% +0.8% YoY	78%
Non-Interest Income / Assets ?	0.08% -13.8% YoY +107.5% QoQ	-0.48%	0.57% +7.6% YoY	0.54% -0.1% YoY	0.66% +5.2% YoY	Bottom 13.4% in tier

Additional Detail

Deposit mix, loan mix, capital, efficiency, asset quality & profitability · As of 2026-Q2

Deposit Composition

% of total deposits

Metric	Current	vs Tier	Tier Avg	State Avg (SD)	National Avg	Tier Percentile
Noninterest-Bearing	22.1% +1.0pp YoY -1.7pp QoQ	0.0pp	22.1%	23.5%	22.2%	55%
Brokered Deposits	1.8% -0.4pp YoY 0.0pp QoQ	-6.1pp	7.9%	8.7%	8.5%	27%

Loan Composition

% of total loans & leases

Metric	Current	vs Tier	Tier Avg	State Avg (SD)	National Avg	Tier Percentile
C&I	9.7% +0.1pp YoY 0.0pp QoQ	-1.9pp	11.6%	14.1%	12.5%	51%
CRE	n/a	n/a	39.5%	31.5%	41.4%	n/a
1-4 Family	2.2% +0.2pp YoY +0.2pp QoQ	-30.4pp	32.6%	14.9%	31.3%	2%
Consumer	1.7% -0.4pp YoY 0.0pp QoQ	-2.4pp	4.1%	8.5%	5.0%	43%

Capital

Metric	Current	vs Tier	Tier Avg	State Avg (SD)	National Avg	Tier Percentile
CET1 Ratio	n/a	n/a	18.8%	17.6%	19.7%	n/a
Leverage Ratio	17.3% +0.9pp YoY +0.1pp QoQ	+5.1pp	12.2%	11.9%	12.6%	93%
Total Capital Ratio	n/a	n/a	19.9%	18.8%	20.8%	n/a

Efficiency & Staffing

Metric	Current	vs Tier	Tier Avg	State Avg (SD)	National Avg	Tier Percentile
Full-Time Employees	30 -1 (-3.2%) YoY -1 (-3.2%) QoQ	-29	58	6,279	482	26%
Assets per Employee ($)	$7.3M +5.7% YoY +4.3% QoQ	-$199K	$7.5M	$8.1M	$8.8M	58%
Branch Count	4 0 YoY 0 QoQ	-1	4	92	18	42%

Asset Quality

Metric	Current	vs Tier	Tier Avg	State Avg (SD)	National Avg	Tier Percentile
Past Due 90+ Days	n/a	n/a	0.3%	0.2%	0.4%	n/a
Nonaccrual	0.3% +0.1pp YoY 0.0pp QoQ	-0.6pp	0.9%	1.0%	1.0%	40%
Allowance Coverage	2.02x -41.1% YoY +2.9% QoQ	-22.14x	24.15x	96.54x	20.23x	48%
Net Charge-off Rate (YTD)	0.0% 0.0pp QoQ	-0.1pp	0.1%	0.7%	0.2%	49%

Profitability

Metric	Current	vs Tier	Tier Avg	State Avg (SD)	National Avg	Tier Percentile
ROE	12.3% -1.4pp YoY +1.6pp QoQ	+0.1pp	12.2%	12.4%	11.6%	51%
Cost of Funds (YTD)	1.5% -0.3pp YoY 0.0pp QoQ	-0.2pp	1.7%	1.7%	1.7%	36%
Net Income ($, YTD)	$2.1M +3.8% YoY — QoQ	-$465K	$2.6M	$418.8M	$40.4M	54%

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$250B+

12 performance metrics with tier, state, and national benchmarks

Signature behaviors (strengths & concerns)

Metric and signature rankings across 4,287 FDIC-insured banks

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Signature Analysis

Composite behavioral patterns that combine multiple metrics to identify what stands out about this bank. Matched signatures only; metric-level callouts appear in the Key Strengths / Key Concerns summary above.

Strengths are growth signatures this bank matches (e.g. Revenue Diversifier, Profitability Leader).

Concerns are risk or decline signatures this bank matches (e.g. Margin Compression, Credit Quality Pressure).

Strengths (0)

No matched strength signatures this quarter

Concerns (2)

Credit Risk Growth

risk

#171 of 936 • Bottom 18.2% in tier

Loan portfolio growing while delinquencies are rising. Expansion with deteriorating credit quality needs attention.

936 of 936 Community banks match · 1401 nationally

→ Stable -58 banks QoQ

Credit Quality Pressure

risk

#308 of 1256 • Bottom 24.4% in tier

Delinquencies rising year-over-year. Credit risk is building - underwriting tools or reserves may need attention.

Why this signature

Delinquency Rate: 0.32%

(Tier: 0.92%, National: 0.98%)

better than tier avg

1256 of 1256 Community banks match · 1820 nationally

→ Stable -71 banks QoQ

Metric Rankings

See how this bank ranks across all tracked metrics compared to peers.

Strengths are metrics in the top 25% (75th percentile or higher).

Concerns are metrics in the bottom 25% (25th percentile or lower).

Compare against:

Comparing against 2643 peers in $100M-$1B

Top Strengths (4 metrics)

372

Efficiency Ratio

profitability

Value: 48.57%

Peer Median: 64.48%

#372 of 2643 Top 14.0% in $100M-$1B

423

Return on Assets

profitability

Value: 1.90%

Peer Median: 1.32%

#423 of 2643 Top 16.0% in $100M-$1B

583

Tier 1 Capital Ratio

capital

Value: 17.26%

Peer Median: 15.91%

#583 of 2643 Top 22.0% in $100M-$1B

628

Net Interest Margin

profitability

Value: 4.43%

Peer Median: 3.99%

#628 of 2643 Top 23.7% in $100M-$1B

Top Weaknesses (1 metrics)

2289

Non-Interest Income / Assets

revenue_mix

Value: 0.08%

Peer Median: 0.57%

#2289 of 2643 Bottom 13.4% in $100M-$1B