FDIC Certificate #: 34519 Status: Active Federal Reserve ID: 2615190 Date Established: September 22, 1997 WWW:http://www.merrickbank.com 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
No
ID
Name
Address
Established
Service Type
Map
0
59026
Merrick Bank
10705 South Jordan Gateway, Suite 200, South Jordan, UT 84095
September 22, 1997
Full Service Brick and Mortar
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