Merchants Bank of Alabama

Headquarters

900 Second Avenue, Sw
Cullman, AL 35055
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 0.95% →
1-Year CD 0.25% 1.01% →
2-Year CD 0.45% 0.95% →
5-Year CD 0.65% 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 of Alabama is an FDIC insured institution located in Cullman, AL. It was founded in 1907 and has approximately $0.3 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 46
Date Established 1907
Assets $ 302.98 million
Loans $ 179.56 million
Deposits $ 269.89 million
Capital $ 31.71 million
 

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

Deposit Rates - October 24, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $2,500 $4,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.10% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.20% $100,000 $199,999 Learn More
12 Mo CD
0.25% $10,000 $14,999 Learn More
12 Mo CD
0.25% $100,000 $199,999 Learn More
18 Mo CD
0.35% $10,000 $14,999 Learn More
18 Mo CD
0.35% $100,000 $199,999 Learn More
24 Mo CD
0.45% $10,000 $14,999 Learn More
24 Mo CD
0.45% $100,000 $199,999 Learn More
36 Mo CD
0.55% $10,000 $14,999 Learn More
36 Mo CD
0.55% $100,000 $199,999 Learn More
60 Mo CD
0.65% $10,000 $14,999 Learn More
60 Mo CD
0.65% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.15% $2,500 $3,499 Learn MoreShow Less

Bank Offers

Ablebanking drops all of its CD rates
Jan 5, 2019

Ablebanking, a division of North East Bank, has dropped its one-year CD rate from 2.90% to 2.60%, its two-year CD rate from 3.20% to 2.65%, its three-year from 3.30% to 2.75% and its four-year from 3.40% to 2.80%.  It is a surprise to see a bank lowering any CD offerings in the current environment, but they have probably done you a favor: Ablebanking's review on this website have been awful.



Loan Rates - October 24, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Merchants Bank of Alabama

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




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
First Internet Bank
NMLS ID: 424182
2.664% 2.625% 0.50 $1,290 $1,005 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.575% 2.500% 1.00 $2,470 $988 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Merchants Bank of Alabama
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Merchants Bank of Alabama 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:
Ashburn,Virginia


Merchants Bank of Alabama Locations


Financial Details

Merchants Bank of Alabama Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Merchants Bank of Alabama. 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 of Alabama U.S. Bank Average
4.42% 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 of Alabama had $1,349,000 in non-current loans and $140,000 in owned real estate. To cover these potential losses it had $31,710,000 in equity and $1,995,000 in loans loss reserves. That gives it a Texas Ratio of 4.42%.

Return on Equity
Merchants Bank of Alabama U.S. Bank Average
12.17% 7.80%

Merchants Bank of Alabama has a Return on Equity of 12.17% 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 of Alabama U.S. Bank Average
10.47% 12.68%

Merchants Bank of Alabama has a Capitalization of 10.47% 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 of Alabama Balance Sheet Analysis

As of March 31, 2020, Merchants Bank of Alabama had assets of $302,984,000, loans of $179,561,000, and deposits of $269,885,000. 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 $ 18.46 million
Interest-bearing balances $ 10.43 million
Total securities $ 71.40 million
Federal funds sold and reverse repurchase $ 19.58 million
Net loans and leases $ 179.56 million
Loan loss allowance $ 2.00 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.14 million
Goodwill and other intangibles N.A.
All other assets $ 9.72 million
     Total Assets $ 271.27 million
LIABILITIES
Total deposits $ 269.89 million
      Interest-bearing deposits $ 260.10 million
      Deposits held in domestic offices $ 269.89 million
      % insured (estimated) 81.51%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.39 million
      Total Liabilities $ 271.27 million
      Shareholders’ Equity $ 31.71 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.12 million
Total Interest Expense $ 0.33 million
Net interest income $ 2.79 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.75 million
Total non interest expense $ 2.29 million
Pre-tax Net Operating Income $ 1.24 million

Bank Loan Profile?

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

Compared to other banks, Merchants Bank of Alabama’s loan portfolio does not show any specific loan specialty.

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 38.21
Multifamily
Mortgages
3.95
Credit Card Loans 0.00
Consumer Auto Loans 3.62
Small Business Loans 0.00
Construction and Development Loans 7.33
Commercial Real Estate 19.77
Commercial and Industrial Loans 13.33
Farm Loans 0.89

Frequently Asked Questions About Merchants Bank Of Alabama

Branches and Savings

Is Merchants Bank Of Alabama FDIC insured?

Yes. It is covered under FDIC Certificate #46.

Why does Merchants Bank Of Alabama 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 Of Alabama CD rates not competitive?

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

Is Merchants Bank Of Alabama a commercial bank?

Yes

Where are Merchants Bank Of Alabama locations?

See branch locations nearby.

Is Merchants Bank Of Alabama open on Saturdays?

Is Merchants Bank Of Alabama open on Sundays?

What time does Merchants Bank Of Alabama open?

What time does Merchants Bank Of Alabama close?

Are Merchants Bank Of Alabama ATMs Open 24/7?

Do Merchants Bank Of Alabama ATMs accept cash deposits?

Can Merchants Bank Of Alabama customers use other ATMs?

Do Merchants Bank Of Alabama branches have notaries?

Will Merchants Bank Of Alabama notarize my document?

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

Will the Merchants Bank Of Alabama branch print checks?

Do Merchants Bank Of Alabama checks expire?

Does Merchants Bank Of Alabama require US citizenship to open account?

Can Merchants Bank Of Alabama close my account?

Does Merchants Bank Of Alabama Report to credit bureaus?

Does Merchants Bank Of Alabama Use Equifax?

What is Merchants Bank Of Alabama's ACH Routing Number?

What is Merchants Bank Of Alabama's SWIFT code?

Products

Does Merchants Bank Of Alabama offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Merchants Bank Of Alabama offer personal loans?

Compare personal loan rates here.

Does Merchants Bank Of Alabama offer student loans?

Will Merchants Bank Of Alabama cash a check?

Will Merchants Bank Of Alabama redeem a savings bond?

Does Merchants Bank Of Alabama cash savings bonds?

Will Merchants Bank Of Alabama cash money orders?

Can Merchants Bank Of Alabama issue a money order?

Does Merchants Bank Of Alabama do currency exchange?

Background on The Bank

Who owns Merchants Bank Of Alabama?

How long has Merchants Bank Of Alabama been around?

Can Merchants Bank Of Alabama transfer to other banks?

Does Merchants Bank Of Alabama have quick pay?

Does Merchants Bank Of Alabama accept rolled coins?

Will Merchants Bank Of Alabama accept loose change?

Where is Merchants Bank Of Alabama headquarters?

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