Merchants Bank of Alabama is headquartered in Cullman and is the 37th largest bank in the state of Alabama. It is also the 2,225th largest bank in the nation. It was established in 1907 and as of September of 2018, it had grown to 84 employees at 5 locations. Merchants Bank of Alabama has a B+ health rating.
I have been banking with Merchant's Bank of Alabama for about 4 years now. I was somewhat hesitant at first because it is just a local bank and I always just looked past them when considering a bank. Nonetheless, I decided to give them a try due to their excellent customer service. By that, I mean friendliness. There was something that just clicked when I went in to inquire about an account. They offered a checking account with no fees as well as a credit card with no fees. I am never charged for notary services and the tellers know be by name. That was something that was missing from the larger banks. Sometimes there can be something very cold about larger banks, but Merchants Bank made me feel welcome and at home. It's kind of like a local barber shop, you can sit and have a cup of coffee and chat with others. It's quite a bank and I'm glad I didn't just pass them by.
My experience with Merchant's Bank has been very positive. Being a local bank, it seems to be much more personal and the employees get to know you on a first name basis. I have a personal checking account and a business account with Merchant's Bank. Quite often, I will need a cashier's check or will have to have a document notarized. There is no charge for notary services and cashier's checks are $5.00. I have had to work with Merchant's Bank on an ID theft issue and they were on it immediately and very helpful.
|FDIC Certificate #||46|
|Return on Assets - YTD||1.1%|
|Return on Equity - YTD||12.43%|
|Annual Interest Income||$8.3MM|
|Assets and Liabilities|
|Assets||Q3 2018vs Q3 2017||$293.9MM$274.5MM|
|Loans||Q3 2018vs Q3 2017||$177.4MM$164.0MM|
|Deposits||Q3 2018vs Q3 2017||$266.4MM$247.5MM|
|Equity Capital||Q3 2018vs Q3 2017||$26.1MM$25.8MM|
|Loan Loss Allowance||Q3 2018vs Q3 2017||$1.8MM$1.8MM|
|Unbacked Noncurrent Loans||Q3 2018vs Q3 2017||$1.5MM$699.00K|
|Real Estate Owned||Q3 2018vs Q3 2017||$1.2MM$1.3MM|
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|Merchants Bank of Alabama Locations|
|Arab Branch||1096 North Brindlee Mountain Parkway||Arab, AL 35016|
|Fairview Branch||44 Butler Street||Cullman, AL 35058|
|Highway 157 Branch||4855 Highway 157, Northwest||Cullman, AL 35055|
|Merchants Bank Of Alabama||900 Second Avenue, Sw||Cullman, AL 35055|
|Hanceville Branch||906 Main Street, Ne||Hanceville, AL 35077|