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Overview / Commentary
800-328-9155
10705 South Jordan Gateway, Suite 200
South Jordan, UT 84095

Merrick Bank is headquartered in South Jordan and is the 14st largest bank in the state of Utah. It is also the 353rd largest bank in the nation. It was established in 1997 and as of March of 2014, it had grown to 170 employees at 1 location. Merrick Bank has a A health rating.

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Merrick Bank had $52.68 million in non-current loans and owned real-estate with $653.43 million in equity and loan loss allowances on hand to cover it. This gives Merrick Bank a Texas Ratio of 8.06% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Merrick Bank experienced no significant changes from 8.05% as of March 31, 2013 to 8.06% as of March 31, 2014, resulting in a negative change of 0.18%. This indicates that the balance sheet and financial strength for Merrick Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Merrick Bank has increased its total deposits by $281.17 million, resulting in 21.9% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Merrick Bank has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Merrick Bank has $2.08 billion in assets with $653.43 million in equity, resulting in a capitalization level of 31.48%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #34519
Year Established1997
Employees170
Primary RegulatorFDIC
Assets and Liabilities
Assets$2.08 billion
Loans$1.58 billion
Deposits$1.57 billion
Equity Capital$463.97 million
Loan Loss Allowance$189.46 million
Unbacked Noncurrent Loans$52.68 million
Real Estate Owned$0
Historic Data - March 2013
Assets$1.72 billion
Equity Capital$397.22 million
Loan Loss Allowance$167.38 million
Unbacked Noncurrent Loans$52.68 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin22.76%
Return on Assets7.59%
Return on Equity33.31%
Interest Income$106.13 million
Rates

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Locations


Merrick Bank Locations
Merrick Bank10705 South Jordan Gateway, Suite 200South Jordan, UT 84095