Merrick Bank in South Jordan, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches

Merrick Bank - Overview

  • General
  • FDIC Certificate #: 34519
    Status: Active
    Federal Reserve ID: 2615190
    Date Established: September 22, 1997
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 59026
    Numeric code: 23
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Credit Card Institutions: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Credit-Card Specialization
    Date of Deposit Insurance: September 22, 1997
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 10705 South Jordan Gateway, Suite 200, South Jordan, UT 84095
    County: Salt Lake
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Salt Lake City
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160)
    Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482)
    Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620)
    CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $1,320.2 mil
    Equity capital: $305.0 mil
    Deposits held in domestic offices: $987.1 mil
    Return on assets (ROA): 8.25% ($108.9 mil)
    Quarterly return on assets: 7.86% ($103.8 mil)
    Return on Equity (ROE): 34.03% ($103.8 mil)
    Quarterly return on equity: 34.13% ($104.1 mil)
    Net income: $97.1 mil
    Quarterly Net income: $25.0 mil
    Pretax return on assets: 13.62% ($179,815.3 mil)
    Quarterly Pretax return on assets: 12.93% ($170,705.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 142Total employees (full-time equivalent)
  • $1,320,230Total assets
  • $75,625Cash and due from depository institutions
  • $65,979Interest-bearing balances
  • $39,504Securities
  • $927Federal funds sold & reverse repurchase agreements
  • $1,032,874Net loans & leases
  • $157,670Loan loss allowance
  • $0Trading account assets
  • $534Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $1,320,230Life insurance assets
  • $170,766All other assets
  • $1,015,253Total liabilities and capital
  • $987,052Total liabilities
  • $831,974Total deposits
  • $987,052Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $28,201Subordinated debt
  • $304,977All other liabilities
  • $304,977Total equity capital
  • $304,977Total bank equity capital
  • $0Perpetual preferred stock
  • $10Common stock
  • $52,876Surplus
  • $252,091Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $39,658Income earned, not collected on loans
  • $0Earning assets
  • $10,156Long-term assets (5+ years)
  • $1,139,284Average Assets, year-to-date
  • $26,344Average Assets, quarterly
  • $1,176,728Volatile liabilities
  • $1,270,012Insider loans
  • $1,206,041FHLB advances
  • $1,303,592Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $294,554Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $387,497Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $276,112Total interest income
  • $8,289Total interest expense
  • $267,823Net interest income
  • $95,222Provision for loan and lease losses
  • $72,901Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $72,901Additional noninterest income
  • $85,255Total noninterest expense
  • $14,700Salaries and employee benefits
  • $1,518Premises and equipment expense
  • $69,037Additional noninterest expense
  • $160,247Pre-tax net operating income
  • $0Securities gains (losses)
  • $63,124Applicable income taxes
  • $97,123Income before extraordinary items
  • $0Extraordinary gains - net
  • $97,123Net income attributable to bank
  • $0Net charge-offs
  • $97,123Cash dividends
  • $95,002Sale, conversion, retirement of capital stock, net
  • $50,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 26.99%Yield on earning assets
  • 0.81%Cost of funding earning assets
  • 26.18%Net interest margin
  • 7.13%Noninterest income to earning assets
  • 8.33%Noninterest expense to earning assets
  • 8.25%Net operating income to assets
  • 8.25%Return on assets (ROA)
  • 13.62%Pretax return on assets
  • 34.03%Return on equity (ROE)
  • 16.51%Retained earnings to average equity (YTD only)
  • 8.97%Net charge-offs to loans
  • 100.23%Credit loss provision to net charge-offs
  • 2.69%Efficiency ratio
  • 25,022Assets per employee
  • 9.30%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 51.48%Loss allowance to loans
  • 13.24%Loss allowance to noncurrent loans
  • 397.57%Noncurrent assets plus other real estate owned to assets
  • 3.00%Noncurrent loans to loans
  • 3.33%Net loans and leases to deposits
  • 104.64%Net loans and leases to core deposits
  • 325.05%Equity capital to assets
  • 23.10%Core capital (leverage) ratio
  • 22.60%Tier 1 risk-based capital ratio
  • 24.42%Total risk-based capital ratio
  • Memoranda
  • $26Average assets
  • $1,176,728Average earning assets
  • $285,445Average equity
  • $1,023,072Average loans

List of branches

  • 1 Utah Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    059026Merrick Bank10705 South Jordan Gateway, Suite 200, South Jordan, UT 84095September 22, 1997Full Service Brick and Mortar

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