Merchants Bank: email security grade A

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Merchants Bank, Winona, Minnesota, is the 430th largest FDIC-insured US bank by total assets ($2.9bn). On 4 November 2026 the public email records of merchantsbank.com graded A: MX pass, SPF pass, DMARC p=reject, mail handled by Microsoft 365.

Grade A. Nothing in the records will stop mail. Read by DNS on 4 November 2026; the records are shown as published.

What was found on merchantsbank.com

Check	Result	What was published
MX	Pass	`0 merchantsbank-com.mail.protection.outlook.com`. Mail handled by Microsoft 365
SPF	Pass	`v=spf1 ip4:50.58.9.15 ip4:208.235.248.20 ip4:207.45.164.29 ip4:192.0.48.36 ip4:209.17.115.45 include:spf.protection.outlook.com include:spf.constantcontact.com include:spf.cashedge.com include:spf2.merchantsbank.com include:sendgrid.net ~all`. DNS lookups: 10 or more of 10 allowed; ends ~all
DMARC	Pass	`v=DMARC1; p=reject; fo=1; rua=mailto:6surxi3i@ag.us.dmarcian.com; ruf=mailto:6surxi3i@fr.us.dmarcian.com`. Policy p=reject; reports collected (rua= set)
DKIM	Pass, not graded	Key found on selectors selector1, selector2 (of 10 common selectors tried)

Where Merchants Bank ranks

Merchants Bank is the 430th largest FDIC-insured US bank by total assets, at $2.9bn as reported to the FDIC (certificate 8866; Winona, Minnesota). Among the 999 graded banks, Merchants Bank ranks 301st by grade (ties broken by assets, larger first). In its asset band, $1bn to $10bn, it ranks 186th of 846; among the 18 graded banks in Minnesota, 3rd. 66% of its band and 66.7% of its state graded A.

What this means for the bank

The checker's own notes on each record:

MX, pass: 1 MX record. Replies have somewhere to land. Mail is handled by Microsoft 365.
SPF, pass: One SPF record, ending in ~all (softfail): mail from a server that is not on the list is treated as suspect.
SPF, info: DNS lookups: at least 10 of the 10 allowed. One more sending service could push it over. This count is an estimate.
SPF, info: The record uses SPF macros, which only resolve for a real message, so the lookup count is a floor.
DMARC, pass: Policy p=reject: receivers are asked to refuse mail that fails.
DMARC, info: Reports go to 6surxi3i@ag.us.dmarcian.com.
DKIM, pass: DKIM key found at selector1._domainkey.merchantsbank.com, about 1024-bit RSA.
DKIM, pass: DKIM key found at selector2._domainkey.merchantsbank.com, about 1024-bit RSA.

What this means if you sell to Merchants Bank

Merchants Bank receives mail through Microsoft 365, whose Exchange Online Protection checks every inbound message's SPF, DKIM and DMARC and scores the sender's reputation. A clean, warmed sending domain is the minimum; a failed check lands in junk or is dropped. Before you send, run your own domain through the email setup checker and publish a policy with the DMARC record generator. For how a bank buys, see the selling to banks playbook.

Check it live

The records above are from 4 November 2026. Run the same check on merchantsbank.com now for today's result. The FDIC's record of the bank is at BankFind, certificate 8866.

This page is one of 1,000 in the Bank Email Readiness Index Q4 2026, published 4 November 2026 and re-read every quarter; the next edition is due 2 February 2027. If you work at Merchants Bank and the records have changed, email moe@roimaxi.com and we will re-check and update this page.

ROI Maximizer is a trading name of M Ventures LTD, registered in England and Wales, company no. 15554493. Registered office: 4 Beau Street, Bath BA1 1QY, United Kingdom. moe@roimaxi.com