Merchants Bank

Headquarters

1901 North College Avenue
Jackson, AL 36545
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Merchants Bank is an FDIC insured institution located in Jackson, AL. It was founded in 1962 and has approximately $0.23 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 18637
Date Established 1962
Assets $ 219.41 million
Loans $ 152.01 million
Deposits $ 205.28 million
Capital $ 19.03 million
 

For a more detailed analysis of Merchants Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Merchants Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

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AimLoan.com
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License#: 13256
2.569% 2.500% 0.88 $2,258 $988 Learn More
First Internet Bank
NMLS ID: 424182
2.565% 2.500% 0.88 $2,142 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

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People's United Bank, N.A.
People's United Bank, N.A.
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4.000 %
$0 Learn More
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Third Federal Savings and Loans
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2.240 %
$0 Learn More
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Note to Merchants Bank
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Branches

Merchants Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Merchants Bank Locations


Financial Details

Merchants Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Merchants Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Merchants Bank U.S. Bank Average
14.85% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Merchants Bank had $2,196,000 in non-current loans and $880,000 in owned real estate. To cover these potential losses it had $19,032,000 in equity and $1,688,000 in loans loss reserves. That gives it a Texas Ratio of 14.85%.

Return on Equity
Merchants Bank U.S. Bank Average
8.36% 7.80%

Merchants Bank has a Return on Equity of 8.36% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Merchants Bank U.S. Bank Average
8.67% 12.68%

Merchants Bank has a Capitalization of 8.67% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Merchants Bank Balance Sheet Analysis

As of March 31, 2019, Merchants Bank had assets of $225,153,000, loans of $152,014,000, and deposits of $205,275,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 16.48 million
Interest-bearing balances $ 12.91 million
Total securities $ 40.43 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 152.01 million
Loan loss allowance $ 1.69 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.88 million
Goodwill and other intangibles N.A.
All other assets $ 7.43 million
     Total Assets $ 206.12 million
LIABILITIES
Total deposits $ 205.28 million
      Interest-bearing deposits $ 162.65 million
      Deposits held in domestic offices $ 205.28 million
      % insured (estimated) 81.20%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.85 million
      Total Liabilities $ 206.12 million
      Shareholders’ Equity $ 13.29 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.35 million
Total Interest Expense $ 0.30 million
Net interest income $ 2.06 million
Provision for loan and lease losses $ 0.24 million
Total non interest income $ 0.40 million
Total non interest expense $ 3.47 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Merchants Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Alabama, Merchants Bank has a significantly higher percent of Small Business Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 24.36
Multifamily
Mortgages
0.84
Credit Card Loans 0.00
Consumer Auto Loans 0.10
Small Business Loans 13.60
Construction and Development Loans 6.69
Commercial Real Estate 39.47
Commercial and Industrial Loans 8.23
Farm Loans 0.17

Frequently Asked Questions About Merchants Bank

Branches and Savings

Is Merchants Bank FDIC insured?

Yes. It is covered under FDIC Certificate #18637.

Why does Merchants Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Merchants Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Merchants Bank a commercial bank?

Yes

Where are Merchants Bank locations?

See branch locations nearby.

Is Merchants Bank open on Saturdays?

Is Merchants Bank open on Sundays?

What time does Merchants Bank open?

What time does Merchants Bank close?

Are Merchants Bank ATMs Open 24/7?

Do Merchants Bank ATMs accept cash deposits?

Can Merchants Bank customers use other ATMs?

Do Merchants Bank branches have notaries?

Will Merchants Bank notarize my document?

What address for Merchants Bank should I put for incoming ACH transfers?

Will the Merchants Bank branch print checks?

Do Merchants Bank checks expire?

Does Merchants Bank require US citizenship to open account?

Can Merchants Bank close my account?

Does Merchants Bank Report to credit bureaus?

Does Merchants Bank Use Equifax?

What is Merchants Bank's ACH Routing Number?

What is Merchants Bank's SWIFT code?

Products

Does Merchants Bank offer mortgages?

Compare mortgage rates here.

Does Merchants Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Merchants Bank offer personal loans?

Compare personal loan rates here.

Does Merchants Bank offer student loans?

Will Merchants Bank cash a check?

Will Merchants Bank redeem a savings bond?

Does Merchants Bank cash savings bonds?

Will Merchants Bank cash money orders?

Can Merchants Bank issue a money order?

Does Merchants Bank do currency exchange?

Background on The Bank

Who owns Merchants Bank?

How long has Merchants Bank been around?

Can Merchants Bank transfer to other banks?

Does Merchants Bank have quick pay?

Does Merchants Bank accept rolled coins?

Will Merchants Bank accept loose change?

Where is Merchants Bank headquarters?

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