Merrick Bank

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Merrick Bank Locations

Deposit Rates - May 19, 2022

CD RATES APY MIN
6 Mo CD
0.91% $25,000 Compare
24 Mo CD
2.31% $25,000 Compare
36 Mo CD
1.91% $25,000 Compare
48 Mo CD
1.96% $25,000 Compare
60 Mo CD
2.16% $25,000 Compare

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 34519
Date Established 1997
Assets $ 4.74 billion
Loans $ 3.63 billion
Deposits $ 3.47 billion
Capital $ 1,183.06 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 689.35 million
Interest-bearing balances $ 671.93 million
Total securities $ 97.81 million
Federal funds sold and reverse repurchase $ 0.73 million
Net loans and leases $ 3.63 billion
Loan loss allowance $ 473.95 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 316.70 million
     Total Assets $ 3.55 billion

LIABILITIES
Total deposits $ 3.47 billion
      Interest-bearing deposits $ 3.18 billion
      Deposits held in domestic offices $ 3.47 billion
      % insured (estimated) 97.03%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 82.65 millionn
      Total Liabilities $ 3.55 billion
      Shareholders’ Equity $ 1,183.06 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 836.48 million
Total Interest Expense $ 37.56 million
Net interest income $ 798.92 million
Provision for loan and lease losses $ 160.49 million
Total non interest income $ 188.45 million
Total non interest expense $ 289.59 million
Pre-tax Net Operating Income $ 537.29 million

Merrick Bank is an FDIC insured institution headquartered at 10705 South Jordan Gateway, Suite 200, South Jordan, UT 84095.
It was founded in 1997 and has approximately $5 billion in assets. Customers can open an account at one of its 1 branches.

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Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    ONLINE CD
    Bank
    -
    $50,000
    6 Month
    0.91%
    3.40x (National Avg. - 0.27%)
    $25,000
    -
    SCENARIO
    Year Rate
    0.91%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 455 319
    2 50,455 459 321
    3 50,914 463 324
    4 51,377 468 327
    5 51,845 472 330
    6 52,317 476 333
    7 52,793 480 336
    8 53,273 485 339
    9 53,758 489 342
    10 54,247 494 346
    11 54,741 498 349
    12 55,239 503 352
    13 55,742 507 355
    14 56,249 512 358
    15 56,761 517 362
    16 57,277 521 365
    17 57,799 526 368
    18 58,325 531 372
    19 58,855 536 375
    20 59,391 540 378
    TOTAL $9,931 $6,952
  • 2
    ONLINE CD
    Online Bank
    -
    $50,000
    12 Month
    1.30%
    3.23x (National Avg. - 0.40%)
    $5,000
    -
    SCENARIO
    Year Rate
    1.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 650 455
    2 50,650 658 461
    3 51,308 667 467
    4 51,975 676 473
    5 52,651 684 479
    6 53,336 693 485
    7 54,029 702 492
    8 54,731 712 498
    9 55,443 721 505
    10 56,164 730 511
    11 56,894 740 518
    12 57,633 749 524
    13 58,383 759 531
    14 59,142 769 538
    15 59,910 779 545
    16 60,689 789 552
    17 61,478 799 559
    18 62,277 810 567
    19 63,087 820 574
    20 63,907 831 582
    TOTAL $14,738 $10,317