Merrick Bank Press Release

Charles Crawford Joins Merrick Bank; David Herzfeld and Lisa Kenney Promoted

South Jordan, UT – September 23, 2010

Charles S. Crawford has joined Merrick Bank as Senior Vice President of Business Development for its Merrick Merchant Services unit. Mr. Crawford is a veteran of the merchant credit card processing industry, who most recently worked as EVP of Strategic Development at Electronic Payment Exchange, a Delaware based transaction authorization and settlements processor. Prior to that position, he held senior posts at several other transaction processors and merchant sales organizations.

Mr. Crawford will be working with David Herzfeld, Senior Vice President –Chief Operations Officer of Merrick Merchant Services, to support and expand the Bank's merchant acquiring program. Mr. Herzfeld joined Merrick in 2004 and was recently promoted from his former position as Vice President of the Merchant Services business unit. He is an industry veteran with previous experience at First Data Merchant Services and BB&T Merchant Services. Together, Charles and David report to Richard Urrutia, Merrick Bank's President.

We would also like to announce that Lisa Kenney has been promoted to Vice President of the Merrick Merchant Services business unit, filling David's former role and supporting the overall operations of the unit. Ms. Kenney is also an industry veteran, joining Merrick in 2006, after working at First Data Merchant Services.

“We are very happy with the team that we have assembled and the structure that we have put in place” said Mr. Urrutia. “We have based our business on working with our independent reseller partners, and we look forward to building on our previous success. The continuity of Dave and Lisa combined with the addition of Chuck gives us the strength to meet those expectations.”