Merrick Bank
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Data as of · sourced from FFIEC call reports. How we update
Merrick Bank is an FDIC-insured commercial bank headquartered in South Jordan, UT, established in 1997 (FDIC certificate 34519), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $9.13B, up 2.0% from Q2 2025, the 14th largest of 44 banks headquartered in Utah. Its CET1 capital ratio was 16.80% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 34519
- Headquarters
- South Jordan, UT
- Established
- 1997
- Total assets, Q2 2026
- $9.13B
- Assets vs Q2 2025
- +2.0%
- CET1 ratio, Q2 2026
- 16.80%
- Domestic offices
- 1 FDIC institution directory, current count
- Routing number
- 124384602
- Latest call report
- Q2 2026, FFIEC 041 · Merrick Bank call report
- Holding company
- CARDWORKS FINANCIAL GROUP
- Asset rank in state
- 14th of 44 in Utah
Merrick Bank runs leaner than most banks of its size. It reported $9.1 billion in assets at June 30, 2026, up 2.0% from a year earlier. It spends about 33 cents to bring in each dollar of revenue, lower than about 9 in 10 of the 895 banks with $1 billion to $10 billion in assets (median 58 cents). On the other hand, it pays an average of 3.45% on its deposits and borrowings, higher than about 9 in 10 banks its size (median 2.01%).
Deposits are coming in faster than loans: over the year loans rose 1.5% and deposits rose 5.9%. Problem loans, meaning loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 3.52% of loans from 3.38% a year earlier. Credit is the area to watch: it carries problem assets equal to 10.8% of the capital and reserves that would absorb them, about triple the median of 3.6% for banks its size.
As of June 30, 2026, Merrick Bank reported a CET1 capital ratio of 16.80%, a return on assets of 1.78%, a nonperforming-loan ratio of 3.52% and a Texas ratio of 10.80%. The figures come from its call report filed with the FFIEC.
Of the 44 banks headquartered in Utah, Merrick Bank is the 14th largest by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets rose 2.2% to $9.13B, loans rose 0.7% and deposits rose 3.9%. Its loan book on June 30, 2026 was led by credit card loans, at 72.4% of total loans, followed by other consumer loans at 27.6%. Its one office in the FDIC Summary of Deposits is in South Jordan, UT. On its Q2 2026 call report, Merrick Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 10705 S Jordan Gtwy, South Jordan, UT 84095
- County
- Salt Lake
- Metro Area
- Salt Lake City-Murray, UT
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- San Francisco (Region 14)
- Federal Reserve member
- No
- Federal Reserve district
- District 12, San Francisco
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- September 22, 1997
- Domestic offices
- 1 FDIC institution directory, current count
- Employees (FTE)
- 471
- Domestic deposits
- $7.41B
- Allowance for credit losses
- $1.33B
- Net charge-offs (YTD)
- $504.2M
- Average total assets
- $9.18B
- Average total loans
- $8.64B
- Average interest-bearing deposits
- $7.30B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- September 22, 1997
- FDIC Cert
- 34519
- Fed RSSD
- 2615190
- SEC CIK
- 1714129 → filed by CARDWORKS FINANCIAL GROUP
- Website
- http://www.merrickbank.com →
- Parent Holding Company
- CARDWORKS FINANCIAL GROUP (RSSD 4805810)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Merrick Bank's total assets moved between a low of $5.58B (Q3 2023) and a high of $9.25B (Q4 2025) from Q3 2023 to Q2 2026, and it earned a profit in 10 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$9.13B total assets against $8.95B; $7.52B total liabilities against $7.12B.
$7.34B net loans and leases against $7.31B; $7.41B total deposits against $6.99B.
$285.5M securities against $287.5M; $633.3M cash and balances due against $615.4M.
$469.3M total interest income against $462.0M; $66.3M total interest expense against $64.5M.
$403.0M net interest income against $397.5M.
$71.9M total noninterest income against $67.9M; $163.4M total noninterest expense against $156.7M.
$257.5M provision for credit losses against $336.3M.
$40.9M net income against -$20.7M.
1.78% return on assets against -0.92%; 16.83% net interest margin against 16.88%.
16.80% CET1 capital ratio against 20.17%; 16.59% tier 1 leverage ratio against 19.66%.
Inside the full Merrick Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Nonperforming loans (nonaccrual loans plus loans 90 or more days past due) exceed 3% of total loans. BankRegReports band at 3% of total loans.
Loans outstanding are at or above total deposits. The bank reports little borrowing or brokered funding, so the difference is carried mainly by equity and other liabilities. Worth watching if loan growth continues to outpace deposits. Industry heuristic, not a supervisory threshold.
Merrick Bank rankings
Its closest position to the top of a national ranking is 73 of 3,606, for efficiency ratio; its furthest is 965 of 980, for uninsured deposits.
Metric pages for Merrick Bank: Efficiency ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from -0.92% (Q2 2025) to 3.75% (Q3 2024) and its net interest margin ran from 13.74% (Q1 2025) to 18.51% (Q3 2024).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 16.80% | 1.78% | 3.52% | 10.80% | 16.83% |
| Q1 2026 | 17.81% | 3.24% | 3.93% | 11.72% | 16.58% |
| Q4 2025 | 20.09% | 1.60% | 3.93% | 11.23% | 17.45% |
| Q3 2025 | 20.10% | 1.54% | 3.62% | 10.44% | 17.60% |
| Q2 2025 | 20.17% | -0.92% | 3.38% | 9.85% | 16.88% |
| Q1 2025 | 30.77% | 2.41% | 3.96% | 8.38% | 13.74% |
| Q4 2024 | 22.00% | -0.90% | 4.42% | 11.72% | 16.67% |
| Q3 2024 | 24.28% | 3.75% | 4.56% | 11.34% | 18.51% |
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Branch Network
View the branch → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Merrick Bank (main office) | South Jordan , UT | 84095 | $7.41B |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.6% of deposits in UT, rank 17 of 63 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Not on file
- Enforcement actions, Mortgage lending (HMDA), SBA 7(a) lending, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Merrick Bank
What are Merrick Bank's total assets?
As of the Q2 2026 filing, Merrick Bank reported total assets of $9.13 billion in its FFIEC call report.
Where is Merrick Bank headquartered?
It is headquartered in South Jordan, UT, United States.
When was Merrick Bank founded?
It was established in 1997, per the FDIC institution directory.
Is Merrick Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #34519). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Merrick Bank?
Merrick Bank's primary federal regulator is the FDIC.
What is Merrick Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 16.80% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Merrick Bank operate?
It operates 1 domestic office, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Merrick Bank's Texas Ratio?
Its Texas Ratio is 10.80% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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