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Merrick Bank

South Jordan, UT · Cert 34519

State charter, non-member · FDIC · 1 branch

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks $1B-$10B in assets (n=322 to 328). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

89

Q2 2024Q2 2026peer median (50)

Asset Quality

2

Q2 2024Q2 2026peer median (50)

Profitability

90

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

96

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Merrick Bank

South Jordan, UT · Cert 34519

State charter, non-member · FDIC · 1 branch

Q2 2026

$9.1BAssets
$8.7BLoans
$7.4BDeposits
$1.6BEquity
Loan mix
0%RE $0.0B0%C&I $0.0B100%Consumer $8.6BQ2 2025Q2 2026
Deposit mix
94%Interest-bearing $7.0B6%Noninterest $0.4BQ2 2025Q2 2026

NIM

21.12%Q2 ’2417.76%Q2 ’2520.48%Q2 ’26-16%+17%

Non-interest income vs. expense

6.67%Q2 ’245.65%Q2 ’256.93%Q2 ’26-10%+27%

Market Position · Salt Lake City-Murray, UT · 2026 SOD (annual) · 0.6% share · #16 of 57 inst. · $7.4B of $1175.7B

Executive Summary

  • Earnings: ROA of 2.55%, up 191 bps year over year; NIM at 17.82%.
  • Asset quality: problem loans at 3.52% of loans (+14 bps YoY), with net charge-offs at 11.62%.
  • Capital: tier 1 leverage ratio of 16.59%, down 307 bps from a year ago.
  • Funding: loans stand at 117.15% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

2.55%+191 bps YoY

Net Interest Margin (YTD, annualized)

17.82%+262 bps YoY

Efficiency Ratio (YTD, annualized)

32.44%+108 bps YoY

Tier 1 Leverage Ratio

16.59%-307 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.64%0.98%1.16%3.31%2.55%+191 bps
Return on Equity3.19%4.86%5.74%16.90%13.48%+1,028 bps
Net Interest Margin15.20%15.98%16.44%17.67%17.82%+262 bps
Efficiency Ratio31.35%31.04%30.83%31.62%32.44%+108 bps
Non-Interest Burden3.08%3.25%3.34%3.79%3.91%+83 bps
Growth
Asset Growth (YoY)47.53%53.89%38.32%0.30%2.00%-4,553 bps
Loan Growth (YoY)59.66%62.37%49.76%44.30%1.53%-5,813 bps
Deposit Growth (YoY)46.75%55.77%35.22%2.19%5.69%-4,106 bps
Asset Quality
Nonperforming Loans / Loans3.38%3.62%3.93%3.93%3.52%+14 bps
Net Charge-Offs / Loans9.83%9.62%9.77%12.01%11.62%+179 bps
Allowance / Loans14.49%14.93%15.33%15.37%15.37%+88 bps
Allowance Coverage of NPLs4.3x4.1x3.9x3.9x4.4x+0.1x
Capital
Tier 1 Leverage Ratio19.66%19.44%19.34%17.11%16.59%-307 bps
Total Risk-Based Capital21.56%21.50%21.50%19.22%18.21%-335 bps
Equity / Assets20.44%20.51%20.30%18.80%17.63%-282 bps
Liquidity & Funding
Loans / Deposits121.95%124.11%123.22%120.88%117.15%-480 bps
Liquid Assets / Assets6.37%6.02%6.15%5.98%6.71%+34 bps
CRE / Total Capitaln/a0.00%0.00%0.00%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

Merrick Bank

South Jordan, UT · Cert 34519 · Peer group: banks $1B-$10B in assets (n=322-328)

State charter, non-member · FDIC · 1 branch

Q2 2026

$9.1BAssets
$8.7BLoans
$7.4BDeposits
$1.6BEquity

Executive Summary

  • Strongest standing: net interest margin outperforms 99% of banks $1B-$10B in assets (rank 4 of 328).
  • Widest gap: net charge-offs / loans trails 99% of banks $1B-$10B in assets (rank 321 of 322).
  • Overall: at or above the peer median on 7 of 9 directional measures.

Return on Assets

2.54%

Rank 12 of 328

Net Interest Margin

17.82%

Rank 4 of 328

Efficiency Ratio

33.60%

Rank 13 of 328

Equity / Assets

17.63%

Rank 11 of 328

Non-interest income vs. expense

$277.4M$636.0MINCOMEEXPENSE
Unfavorable gap of $358.7M · efficiency ratio beats 96% of banks $1B-$10B in assets
Bank 33.60%Peer median 59.6%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets2.54%0.91%1.22%1.52%Beats 96%12 / 328
Return on Equity14.43%8.43%11.45%14.43%Beats 75%82 / 328
Net Interest Margin17.82%3.03%3.45%3.83%Beats 99%4 / 328
Efficiency Ratio33.60%51.61%59.56%67.53%Beats 96%13 / 328
Asset Quality
Nonperforming Loans / Loans3.52%0.24%0.51%1.03%Beats 3%312 / 322
Net Charge-Offs / Loans6.82%0.01%0.03%0.10%Beats 1%321 / 322
Capital
Tier 1 Capital Ratio16.80%11.75%13.15%15.47%Beats 84%54 / 328
Total Risk-Based Capital Ratio18.21%12.63%14.15%16.46%Beats 85%50 / 328
Equity / Assets17.63%9.15%10.33%12.01%Beats 97%11 / 328
Liquidity & Funding
Loans / Deposits117.15%76.63%87.92%95.36%97th pctl9 / 323
Loans / Assets95.03%65.18%74.15%79.98%99th pctl3 / 328
Brokered Deposits / Depositsn/aNot reported for this institution