Merrick Bank


10705 South Jordan Gateway, Suite 200
South Jordan, UT 84095
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Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD 0.75% 1.01% →
2-Year CD 0.85% 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

Merrick Bank is an FDIC insured institution located in South Jordan, UT. It was founded in 1997 and has approximately $4.06 billion in assets.

FDIC Insured Yes
FDIC Certificate # 34519
Date Established 1997
Assets $ 4.06 billion
Loans $ 3.22 billion
Deposits $ 3.13 billion
Capital $ 878.56 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 - October 27, 2020

Your Current Location: Washington, WA 98101

6 Month CD
0.65% $25,000 - Learn More
12-Month CD
0.75% $25,000 - Learn More
18-Month CD
0.80% $25,000 - Learn More
24 Month CD
0.85% $25,000 - Learn More

Loan Rates - October 27, 2020

Your Current Location: Washington, WA 98101

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 - Washington 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
Cascadia Mortgage
NMLS ID: 1505422
License#: NMLS #1505422
2.728% 2.625% 0.88 $3,385 $1,005 Learn More
NMLS ID: 2890
License#: 520-CL-25944
2.674% 2.625% 0.63 $1,595 $1,005 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More

Note to Merrick Bank
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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 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
10.68% 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, Merrick Bank had $152,671,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $878,559,000 in equity and $550,995,000 in loans loss reserves. That gives it a Texas Ratio of 10.68%.

Return on Equity
Merrick Bank U.S. Bank Average
13.82% 7.80%

Merrick Bank has a Return on Equity of 13.82% 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.

Merrick Bank U.S. Bank Average
21.62% 12.68%

Merrick Bank has a Capitalization of 21.62% 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.

Merrick Bank Balance Sheet Analysis

As of March 31, 2020, Merrick Bank had assets of $4,062,703,000, loans of $3,222,701,000, and deposits of $3,127,166,000. 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
Cash & Balances due from depository institutions $ 488.16 million
Interest-bearing balances $ 478.39 million
Total securities $ 122.46 million
Federal funds sold and reverse repurchase $ 0.76 million
Net loans and leases $ 3.22 billion
Loan loss allowance $ 551.00 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 $ 225.38 million
     Total Assets $ 3.18 billion
Total deposits $ 3.13 billion
      Interest-bearing deposits $ 2.97 billion
      Deposits held in domestic offices $ 3.13 billion
      % insured (estimated) 97.51%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 56.98 million
      Total Liabilities $ 3.18 billion
      Shareholders’ Equity $ 878.56 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 224.00 million
Total Interest Expense $ 16.08 million
Net interest income $ 207.92 million
Provision for loan and lease losses $ 136.88 million
Total non interest income $ 37.79 million
Total non interest expense $ 67.55 million
Pre-tax Net Operating Income $ 41.28 million

Bank Loan Profile?

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

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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.00
Credit Card Loans 95.74
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

Frequently Asked Questions About Merrick Bank

Branches and Savings

Is Merrick Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34519.

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

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

Why are Merrick Bank CD rates not competitive?

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

Is Merrick Bank a commercial bank?


Where are Merrick Bank locations?

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Does Merrick Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Merrick Bank offer personal loans?

Compare personal loan rates here.

Does Merrick Bank offer student loans?

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Background on The Bank

Who owns Merrick Bank?

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