Huntsville-based Merit Bank has reached $100 million in assets, the bank said in a news release.
Last July, the bank announced in it had raised nearly $25 million in just a few short months through a private stock offering.
Bank President and CEO Hill Womble cited the success to the support and confidence of local businesses and investors.
“The past six months have been a whirlwind of activity and excitement,” Womble said. “I am thankful for the support of the community in helping Merit Bank reach $100 million in assets. 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.”