Merrick Bank


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 12th largest bank in the state of Utah. It is also the 282nd largest bank in the nation. It was established in 1997 and as of March of 2021, it had grown to 375 employees at 1 location. Merrick Bank has an A+ health rating.

Reviews (3)

They Do Fine

Posted by: |

This is my second time with Merrick. First was with a Brokerage CD so I did not deal directly with the bank. Next was a Bank CD and I found them very good to deal with. ACH, microdeposits, et al went very well. Their rates are always at or near the top.

Good CD Rate But Difficult To Open An CD Account

Posted by: |

The good part is their 12month CD rate and their grade A safety rating. The bad part is the "online" application process which is really part online and part on the phone and will take a lot of your patience to get through the process and about 8 business days to get your account open and funded. Their headquarters is in Utah but you are not allowed to talk to anyone there. They have a call center in Missouri and the claim to be open till 6PM but they can't access any information from Utah after 5PM. You will need to unfreeze one of the credit bureau reports but they won't tell you this upfront--they will contact you later after the online application doesn't go through. After they get your credit report, they will contact you and ask you to call them so they can ask you "extra questions". After you jump through that hoop, they will then send the two microdeposits to the account you want to link to the Merrick CD account in order to fund the account. And on it goes for days and days on end, but if you want a good CD rate in a bank with a good safety rating, then this is the price you are going to pay. Good luck, John

Impossible To Open A CD Online

On 4/18/20, I tried to open a 24 month CD. Submitted all info and asked to fund from my checking acct at another bank. Merrick deposited and debited $0.69 test deposits but never withdrew my opening deposit.
On 3/20/21, I tried again. Resubmitted info. Was asked to read and must agree to three documents. Links to documents were dead, so I couldn't agree.
Cancelled my application, won't be back.



Health
A+

Health Grade Components

Overall
FDIC Certificate #34519
Year Established1997
Employees375
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD11.34%
Return on Equity - YTD45.26%
Annual Interest Income$196.1MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$4.51B$4.06B
LoansQ1 2021vs Q1 2020$3.06B$3.22B
DepositsQ1 2021vs Q1 2020$3.27B$3.13B
Equity CapitalQ1 2021vs Q1 2020$1.16B$878.6MM
Loan Loss AllowanceQ1 2021vs Q1 2020$437.4MM$551.0MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$103.7MM$152.7MM
Real Estate OwnedQ1 2021vs Q1 2020$0$0
Rates
Skip to rates for:
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Merrick Bank; we are a rate comparison website and cannot provide official rates or promotions.

Merrick Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.71%$25k$250k24 Month CD
0.65%$25k$250k12 Month CD
0.65%$25k$250k18 Month CD
0.40%$25k$250k6 Month CD
Locations


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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.