Merrick Bank

Headquarters

10705 S Jordan Gtwy
South Jordan, UT 84095
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD 4.95% 5.41% →
2-Year CD 4.40% 5.25% →
5-Year CD 4.05% 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Merrick Bank is an FDIC insured institution located in South Jordan, UT. It was founded in 1997 and has approximately $6.22 billion in assets.

FDIC Insured Yes
FDIC Certificate # 34519
Date Established 1997
Assets $ 6.22 billion
Loans $ 4.03 billion
Deposits $ 4.98 billion
Capital $ 1,149.98 million
 

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

Deposit Rates - May 21, 2024

Your Current Location: Virginia, VA 20146

CD Rates APY MIN MAX
6 Month CD
5.25% $25,000 - Learn More
12-Month CD
4.95% $25,000 - Learn More
18-Month CD
4.65% $25,000 - Learn More
24 Month CD
4.40% $25,000 - Learn More
36 Month CD
4.20% $25,000 - Learn More
48 Month CD
4.10% $25,000 - Learn More
60 Month Online CD
4.05% $25,000 - Learn More


Loan Rates - May 21, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Merrick Bank

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 2024

Lender APR Rate (%) Monthly
Payment
Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.956% 6.875%
0.63 points
$2,655 fees
$2,103 Learn More
Rocket Mortgage
NMLS ID: 3030
7.451% 7.375%
0.75 points
$2,400 fees
$2,211 Learn More
Neighbors Bank
NMLS ID: 491986

points
fees
Learn More
FHAloans.com
NMLS ID: Not a Lender

points
fees
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Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$0 Learn More
More Info

Note to Merrick Bank
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Branches

Merrick 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:
Ashburn,Virginia


Merrick Bank Locations



Climate Policy and Initiatives

Merrick Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.


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Financial Details

Merrick Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Merrick 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
Merrick Bank U.S. Bank Average
13.83% 3.96%

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 December 31, 2024, Merrick Bank had $292,234,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $1,149,976,000 in equity and $963,060,000 in loans loss reserves. That gives it a Texas Ratio of 13.83%.

Return on Equity
Merrick Bank U.S. Bank Average
19.1% 12.20%

Merrick Bank has a Return on Equity of 19.1% versus the BestCashCow average of 12.20%. 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
Merrick Bank U.S. Bank Average
18.49% 10.76%

Merrick Bank has a Capitalization of 18.49% versus the BestCashCow average of 10.76. 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.

Merrick Bank Balance Sheet Analysis

As of December 31, 2023, Merrick Bank had assets of $6,218,750,000, loans of $4,030,683,000, and deposits of $4,982,422,000. 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

December 31, 2024
ASSETS
Cash & Balances due from depository institutions $ 1,150.55 million
Interest-bearing balances $ 1,125.76 million
Total securities $ 186.73 million
Federal funds sold and reverse repurchase $ 0.39 million
Net loans and leases $ 4.03 billion
Loan loss allowance $ 963.06 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 402.74 million
     Total Assets $ 5.07 billion
LIABILITIES
Total deposits $ 4.98 billion
      Interest-bearing deposits $ 4.32 billion
      Deposits held in domestic offices $ 4.98 billion
      % insured (estimated) 82.08%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 60.54 million
      Total Liabilities $ 5.07 billion
      Shareholders’ Equity $ 1,149.98 million

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 1,279.22 million
Total Interest Expense $ 127.79 million
Net interest income $ 1,151.44 million
Provision for loan and lease losses $ 666.66 million
Total non interest income $ 201.52 million
Total non interest expense $ 392.21 million
Pre-tax Net Operating Income $ 122.79 million

Bank Loan Profile?

The top three loan types in Merrick Bank’s loan portfolio are Credit Card Loans, 1-4 Family Residential Loans, and Multifamily Mortgages.

Compared to other banks in Utah, Merrick Bank has a significantly higher percent of Credit Card Loans 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 0.00
Multifamily
Mortgages
0.00
Credit Card Loans 89.18
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Customer Reviews for Merrick Bank (3)


  • July 3, 2023 |

    CDs 12 Month Rates

    A 2% early withdrawal fee on a 1-year CD is almost equally insane as a 270 day one.

  • April 12, 2021 | | Replies 1

    Online CDs 12 Month Rates

    Frustrating. The initial application form is a breeze. Then the problems start. Many hoops to jump through.

    Senior Citizens -JSW | May 21, 2024

    I tried to open CD on 10/14/22. No success. I believed that I was connected to someone else, not a bank. I will contact Police/FBI to make sure who got my all personal data.


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