In this paper, we propose a new structure for a compact matched filter bank for a mutually orthogonal zero-correlation zone (MO-ZCZ) sequence set consisting of ternary sequence pairs obtained by Hadamard and binary ZCZ sequence sets; this construction reduces the number of two-input adders and delay elements. The matched filter banks are implemented on a field-programmable gate array (FPGA) with 51,840 logic elements (LEs). The proposed matched filter bank for an MO-ZCZ sequence set of length 160 can be constructed by a circuit size that is about 8.6% that of a conventional matched filter bank.