Merrick Bank
South Jordan, Utah · $9.13B in assets · beside the 5 other Utah banks between $3B and $10B
The filing
Merrick Bank is the largest of the 6 Utah banks between $3B and $10B, with $9.13B in assets at 30 June 2026. Loans are 117.2% of deposits, 5th of 6 against a median of 102.1%, and equity is 17.6% of assets, the highest in the cohort. Loans grew +1.5% in the year, 5th of 6, and deposits grew 5.7%; the cohort's median loan growth is +5.4%.
Noncurrent loans are 3.52% of the book, 4th of 6 against a median of 2.06%; 3.75% is 30 to 89 days past due, and the allowance covers them 4.4 times. Net charge-offs are 11.62% of loans, 5th of 6. Commercial real estate is 0.0% of loans, the lowest in the cohort against a median of 30.3%, and 0% of capital, below the 300% screen, with construction at 0% against the 100% screen.
Return on assets is 2.53%, 2nd of 6 against a median of 1.81%, on an efficiency ratio of 33.6%, 2nd of 6. Five years ago it was 9.80%. The question is what the capital is for: the balance sheet carries less risk than it could.
Commercial real estate against capital
| Merrick Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 0% | 1st of 6 | 140% |
| Construction against capital, the 100% screen | 0% | 1st of 6 | 24% |
| Construction and land development, share of loans | 0.0% | 1st of 6 | 3.6% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 0.0% | 1st of 6 | 14.7% |
| Total CRE, the guidance definition, share of loans | 0.0% | 1st of 6 | 30.3% |
| CRE growth over 36 months, the third prong | no record | +52.4% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
| $9.13B | 2.5% | 33.6% | 3.52% | 11.62% | 15.4% | 117.2% | 17.6% | |
| $5.44B | 1.5% | 92.5% | 3.56% | 66.62% | 17.3% | 0.8% | 5.8% | |
| $5.33B | 3.3% | 33.2% | 3.63% | 0.46% | 1.6% | 117.3% | 17.4% | |
| $4.41B | 1.6% | 61.6% | 0.60% | 0.00% | 1.8% | 103.7% | 9.3% | |
| $3.79B | 1.3% | 61.6% | 0.15% | 0.22% | 1.2% | 100.4% | 12.3% | |
| $3.49B | 2.0% | 39.1% | 0.29% | 0.09% | 1.3% | 87.6% | 10.5% |
| Merrick Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $3.57B | $8.68B | +143% | $1.78B | $3.24B | +82% |
| Deposits | $3.09B | $7.41B | +139% | $1.97B | $3.65B | +85% |
| NPA / loans | 1.85% | 3.52% | +1.68 pts | 0.31% | 2.06% | +1.75 pts |
| Efficiency | 30.0% | 33.6% | +3.6 pts | 34.3% | 50.3% | +16.0 pts |
| ROA | 9.80% | 2.53% | -7.27 pts | 2.01% | 1.81% | -0.21 pts |
This read was prepared for Merrick Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.
The full pack on Merrick Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 7 September 2026
Filing 30 June 2026
Cohort UT banks $3B to $10B
Institution www.merrickbank.com
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