Merrick Bank is a consumer lender and merchant acquirer, and a people-centric, compliance-focused organization enabled by data and technology. Founded over 20 years ago, Merrick Bank is an FDIC-insured Utah Industrial Loan Bank that originates loans with the benefit of low-cost deposit funding. Merrick Bank had $4.5 billion in assets and $3.1 billion in deposits as of March 31, 2021. Merrick Bank operates four main business lines: Credit Card • One of the largest non-prime card issuers in the U.S. (top 20 US Visa/MC issuer) • Leading non-prime issuer of credit cards under the Visa brand • Core customer base comprises US consumers in the 550 – 700 FICO range • Long history of acquiring portfolios of credit card receivables Recreational Lending • Provides non-prime indirect retail financing through a network of dealers • Originates secured consumer installment loans for the purchase of small boats, recreational vehicles, horse trailers, and ATVs Personal Loans • Unsecured consumer loans for general use Merchant Acquiring • Top 20 merchant acquirer, processing over $32bn in credit card transaction volume in 2020 for approximately 107,000 merchants • Clearing and settlement bank for approximately 45 ISOs