Merit Bank has closed on a $17.5 million capital raise to support growth in North Alabama.
The offering was fully subscribed in five weeks among local investors, existing shareholders and clients.
Since opening in Huntsville in mid-2019, Merit Bank has grown to $255 million in total assets, making it one of the fastest growing banks in the state since its inception. It is a full-service bank headquartered in Huntsville. It offers commercial, consumer and private banking services, along with treasury management, electronic banking, agricultural lending and home mortgage lending.