| # | Institution | Type | Branches | Deposits | Share |
|---|---|---|---|---|---|
| 1 | Merchants Bank, National Association | Bank | 3 | $322.0M | 45.95% |
| 2 | ESB Bank | Bank | 3 | $179.1M | 25.56% |
| 3 | Altra Federal Credit Union | Credit union | 1 | $143.1M* | 20.43% |
| 4 | Alerus Financial, National Association | Bank | 1 | $28.5M | 4.06% |
| 5 | BMO Bank National Association | Bank | 1 | $28.0M | 3.99% |
| 6 | Rushford State Bank (Incorporated) | Bank | 1 | $0 | 0.00% |
* Credit-union deposits are estimated (June total shares spread evenly across branches).
| Year | Deposits | Institutions | Branches | Leader | Top share | HHI |
|---|---|---|---|---|---|---|
| 2026 | $700.6M | 6 | 10 | Merchants Bank, National Association | 46.0% | 3,215 |
| 2025 | $671.8M | 6 | 10 | Merchants Bank, National Association | 46.4% | 3,183 |
| 2024 | $621.7M | 6 | 10 | Merchants Bank, National Association | 45.1% | 3,078 |
| 2023 | $575.9M | 6 | 10 | Merchants Bank, National Association | 41.6% | 2,912 |
| 2022 | $598.4M | 6 | 10 | Merchants Bank, National Association | 41.6% | 2,846 |
Every institution above links to its profile — ratios, peer medians and this quarter’s change signals. Pro adds the full table, share movement and CSV export.