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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

20.85%Q2 ’2420.56%Q2 ’2520.46%Q2 ’260%0%

Non-interest income vs. expense

6.68%Q2 ’246.97%Q2 ’257.12%Q2 ’26+17%+1%

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 1.81%, up 274 bps year over year; NIM at 17.78%.
  • Asset quality: problem loans at 3.52% of loans (+14 bps YoY), with net charge-offs at 11.32%.
  • 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 (quarter, annualized)

1.81%+274 bps YoY

Net Interest Margin (quarter, annualized)

17.78%-7 bps YoY

Efficiency Ratio (quarter, annualized)

33.24%+77 bps YoY

Tier 1 Leverage Ratio

16.59%-307 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.93%1.58%1.64%3.31%1.81%+274 bps
Return on Equity-4.50%7.73%8.04%16.90%9.95%+1,445 bps
Net Interest Margin17.86%18.58%18.45%17.67%17.78%-7 bps
Efficiency Ratio32.48%30.53%30.30%31.62%33.24%+77 bps
Non-Interest Burden3.95%3.80%3.74%3.79%3.99%+4 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 / Loans10.80%9.78%10.57%12.01%11.32%+53 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