A relatively new bank in Huntsville has reached $100 million in assets.
Merit Bank, a subsidiary of Merit Bancorporation, in July 2019 made news for its start-up success, raising nearly $25 million in just a few short months through a private stock offering. In February, they hit $100 million in assets.
“The past six months have been a whirlwind of activity and excitement,” said Hill Womble, president and CEO of Merit Bank. “Achieving a benchmark of this magnitude so timely excites me about the future of the bank. It also reinforces our position that small business owners and entrepreneurs like doing business with a Huntsville-headquartered bank.”
A full-service bank specializing in commercial and agricultural lending, cash management and small business banking, Merit has four locations: Huntsville, Ider, Mentone and Valley Head.
“Merit Bank is able to fill a void in the community and offer individualized banking solutions to local businesses and their owners,” Womble said. “We have complimented a very talented and proven team of bankers with state-of-the-art technology that is both secure and user-friendly. It’s a win on all levels for our clients.”