Merchants State Bank vs Area
Comparing a Bank in Freeman, SD with a Credit Union in Aberdeen, SD using federal FDIC, NCUA, and CFPB data. Trust Grades reflect financial strength and complaint history.
| Merchants State Bank ↗ Bank · Freeman, SD · Est. 1899 | Area ↗ Credit Union · Aberdeen, SD · Est. 1935 | |
|---|---|---|
| Trust Grade | A · 98/100 | A · 98/100 |
| Institution type | Bank | Credit Union |
| Location | Freeman, SD | Aberdeen, SD |
| Total assets | $217.6M | $200.2M |
| Capital ratio | 15.5% | 16.7% |
| Return on assets | 1.6% | 1.3% |
| Deposits | $176.4M | — |
| Branches | 4 | 11,751 |
| CFPB complaints | 0 | 0 |
| Complaints / $1B assets | — | — |
| State rank | #2 of 56 | #1 of 33 |
| Established | 1899 | 1935 |
Merchants State Bank
- Assets: $217.6M
- Deposits: $176.4M
- Capital ratio: 15.5%
- Return on assets: 1.6%
- CFPB complaints: 0
- State rank: #2 of 56
Area
- Assets: $200.2M
- Members: 11,751
- Capital ratio: 16.7%
- Return on assets: 1.3%
- CFPB complaints: 0
- State rank: #1 of 33
Are both institutions federally insured?
Yes. Merchants State Bank is FDIC-insured and Area is NCUA-insured. Both protect deposits up to $250,000 per depositor, per ownership category, regardless of Trust Grade. The Trust Grade reflects financial strength and complaint history — not the safety of insured deposits. Estimate your coverage →
Frequently asked questions
Which is better, Merchants State Bank or Area?
Based on Bankzia's Trust Grade — which blends financial strength (capital ratio, ROA) with CFPB complaint history — Merchants State Bank scores higher with a grade of A (98/100). However, "better" depends on your needs: if you prioritize branch access, local service, or membership eligibility for a credit union, the lower-scoring option may still be the right choice for you.
Is Merchants State Bank safe?
Yes — Merchants State Bank is FDIC-insured, meaning deposits up to $250,000 per depositor, per ownership category are federally protected regardless of the institution's Trust Grade. Its Trust Grade is A (98/100), reflecting its financial strength and complaint history relative to peers.
Is Area safe?
Yes — Area is NCUA-insured, meaning deposits up to $250,000 per depositor, per ownership category are federally protected. Its Trust Grade is A (98/100).
What is the capital ratio of Merchants State Bank vs Area?
Merchants State Bank has a capital ratio of 15.5%, placing it in the top 9% of $100M–1B peers. Area's ratio is 16.7%, placing it in the top 7% of $100M–1B peers. A higher capital ratio generally signals a stronger financial cushion.
How many complaints does Merchants State Bank have compared to Area?
The CFPB database shows 0 complaints against Merchants State Bank, and 0 complaints against Area. The per-$1B rate adjusts for institution size and is a more meaningful comparison metric.
How does Bankzia calculate the Trust Grade?
The Trust Grade combines a financial strength score (based on capital ratio, return on assets, and other FDIC/NCUA metrics) with a customer experience score derived from CFPB complaint data. The scores are weighted and normalized within peer groups by institution size and type. See our full methodology for details.
Compare Merchants State Bank with other Banks in South Dakota
Financial data from FDIC and NCUA call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is independent and not affiliated with any government agency or financial institution.
