NASDAQ : MRBK
Meridian Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 18.77 USD (Oct 30, 2026, 2:51 PM EDT) · Market cap 223.91M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 155.62M | 155.99M | 147.16M | 130.08M | 84.63M | 68.82M |
| Interest Income on Investments | 10.15M | 10.33M | 8.87M | 6.51M | 4.09M | 2.70M |
| Total Interest Income | 165.77M | 166.31M | 156.03M | 136.59M | 88.72M | 71.52M |
| Interest Paid on Deposits | 63.64M | 68.17M | 74.04M | 57.82M | 15.40M | 5.49M |
| Interest Paid on Borrowings | 9.07M | 10.47M | 10.99M | 9.83M | 3.20M | 2.92M |
| Total Interest Expense | 72.72M | 78.64M | 85.03M | 67.65M | 18.59M | 8.41M |
| Net Interest Income | 93.06M | 87.68M | 71.00M | 68.94M | 70.13M | 63.11M |
| Trust Income | 6.99M | 6.32M | 5.74M | 4.93M | 4.73M | 4.80M |
| Mortgage Banking Activities | 20.75M | 20.78M | 21.04M | 16.54M | 25.32M | 75.93M |
| Gain (Loss) on Sale of Assets | -171.00K | 403.00K | 3.99M | |||
| Gain (Loss) on Sale of Investments | -342.00K | 1.16M | 157.00K | 74.00K | -2.41M | 246.00K |
| Other Non-Interest Income | 7.14M | 10.64M | 10.42M | 10.39M | 14.92M | 10.32M |
| Total Non-Interest Income | 34.24M | 39.18M | 41.34M | 31.96M | 41.72M | 87.99M |
| Revenues Before Loan Losses | 127.30M | 126.86M | 112.33M | 100.91M | 111.85M | 151.10M |
| Provision for Loan Losses | 14.88M | 15.15M | 11.40M | 6.82M | 2.49M | 1.07M |
| Revenue | 112.42M | 111.71M | 100.94M | 94.09M | 109.36M | 150.03M |
| Salaries and Employee Benefits | 51.11M | 50.09M | 46.29M | 46.20M | 52.90M | 77.26M |
| Occupancy Expenses | 3.01M | 2.80M | 2.94M | 2.46M | 2.58M | 4.54M |
| Selling, General & Administrative | 19.52M | 17.97M | 18.21M | 18.01M | 17.15M | 13.26M |
| Other Non-Interest Expense | 13.42M | 12.45M | 11.70M | 10.45M | 8.81M | 8.66M |
| Total Non-Interest Expense | 87.07M | 83.30M | 79.15M | 77.12M | 81.44M | 103.73M |
| EBT Excluding Unusual Items | 25.35M | 28.40M | 21.79M | 16.97M | 27.92M | 46.30M |
| Pretax Income | 25.35M | 28.40M | 21.79M | 16.97M | 27.92M | 46.30M |
| Income Tax Expense | 5.14M | 6.57M | 5.44M | 3.72M | 6.09M | 10.72M |
| Net Income | 20.21M | 21.84M | 16.35M | 13.24M | 21.83M | 35.59M |
| Net Income to Common | 20.21M | 21.84M | 16.35M | 13.24M | 21.83M | 35.59M |
| Basic Shares Outstanding | 11.78M | 11.33M | 11.11M | 11.12M | 11.79M | 12.04M |
| Diluted Shares Outstanding | 12.08M | 11.54M | 11.24M | 11.39M | 12.20M | 12.41M |
| EPS (Basic) | 1.72 | 1.93 | 1.47 | 1.19 | 1.85 | 2.96 |
| EPS (Diluted) | 1.67 | 1.89 | 1.45 | 1.16 | 1.79 | 2.87 |
| Dividend Per Share | 0.56 | 0.52 | 0.50 | 0.50 | 0.40 | 0.29 |
| Effective Tax Rate | 20.29% | 23.12% | 24.97% | 21.95% | 21.82% | 23.15% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 28.58M | 35.78M | 27.46M | 56.70M | 38.39M | 23.48M |
| Investment Securities | 238.06M | 131.08M | 131.95M | 128.56M | 130.76M | 134.86M |
| Trading Asset Securities | 2.33M | 3.01M | 3.74M | 3.93M | 2.15M | |
| Mortgage-Backed Securities | 97.09M | 78.21M | 55.36M | 44.15M | 33.17M | |
| Total Investments | 238.06M | 230.50M | 213.17M | 187.66M | 178.84M | 170.18M |
| Gross Loans | 2.16B | 2.18B | 2.04B | 1.92B | 1.77B | 1.40B |
| Allowance for Loan Losses | -20.69M | -21.57M | -18.44M | -22.11M | -18.83M | -18.76M |
| Other Adjustments to Gross Loans | -4.98M | -9.06M | -19.21M | -25.71M | -17.37M | |
| Net Loans | 2.14B | 2.15B | 2.01B | 1.87B | 1.72B | 1.37B |
| Property, Plant & Equipment | 12.26M | 22.80M | 19.05M | 22.96M | 22.35M | 11.81M |
| Goodwill | 899.00K | 899.00K | 899.00K | 899.00K | 899.00K | 899.00K |
| Other Intangible Assets | 2.41M | 2.56M | 2.77M | 2.97M | 3.17M | 3.38M |
| Loans Held for Sale | 43.87M | 33.76M | 32.41M | 24.82M | 22.24M | 80.88M |
| Accrued Interest Receivable | 11.84M | 10.72M | 9.96M | 9.32M | 7.36M | 5.01M |
| Long-Term Deferred Tax Assets | 6.10M | 4.21M | 4.67M | 4.20M | 3.94M | 1.41M |
| Other Real Estate Owned & Foreclosed | 4.85M | 6.00M | 276.00K | 1.70M | 1.70M | |
| Other Long-Term Assets | 72.41M | 57.92M | 55.45M | 53.19M | 51.54M | 43.58M |
| Total Assets | 2.57B | 2.56B | 2.39B | 2.25B | 2.06B | 1.71B |
| Interest Bearing Deposits | 1.91B | 1.39B | 1.22B | 1.13B | 1.02B | 992.09M |
| Institutional Deposits | 522.70M | 545.70M | 458.80M | 394.30M | 179.80M | |
| Non-Interest Bearing Deposits | 253.43M | 245.38M | 240.86M | 239.29M | 301.73M | 274.53M |
| Total Deposits | 2.17B | 2.16B | 2.01B | 1.82B | 1.71B | 1.45B |
| Short-Term Borrowings | 109.02M | 101.56M | 145.38M | 117.04M | 42.67M | |
| Current Portion of Long-Term Debt | 219.00K | 56.00K | ||||
| Current Portion of Leases | 1.65M | |||||
| Accrued Interest Payable | 4.67M | 6.53M | 6.86M | 10.32M | 2.39M | 31.00K |
| Long-Term Debt | 164.96M | 49.63M | 49.74M | 49.84M | 40.29M | 40.51M |
| Federal Home Loan Bank Debt, Long-Term | 10.59M | 25.84M | 33.67M | 8.94M | ||
| Long-Term Leases | 9.08M | 7.00M | 9.40M | 11.29M | ||
| Other Long-Term Liabilities | 31.41M | 17.42M | 17.97M | 16.10M | 16.47M | 18.46M |
| Total Liabilities | 2.37B | 2.36B | 2.21B | 2.09B | 1.91B | 1.55B |
| Common Stock | 13.94M | 13.83M | 13.24M | 13.19M | 13.16M | 6.54M |
| Retained Earnings | 136.15M | 128.12M | 111.96M | 101.22M | 95.81M | 84.92M |
| Treasury Stock | -26.08M | -26.08M | -26.08M | -26.08M | -21.82M | -8.86M |
| Comprehensive Income & Other | 79.62M | 83.84M | 72.40M | 69.70M | 66.13M | 82.77M |
| Total Common Equity | 203.63M | 199.72M | 171.52M | 158.02M | 153.28M | 165.36M |
| Shareholders' Equity | 203.63M | 199.72M | 171.52M | 158.02M | 153.28M | 165.36M |
| Total Liabilities & Equity | 2.57B | 2.56B | 2.39B | 2.25B | 2.06B | 1.71B |
| Total Debt | 164.96M | 180.20M | 184.15M | 238.28M | 177.61M | 83.18M |
| Net Cash (Debt) | -136.38M | -142.09M | -153.67M | -177.84M | -135.29M | -57.55M |
| Net Cash Per Share | -11.29 | -12.31 | -13.67 | -15.62 | -11.09 | -4.64 |
| Filing Date Shares Outstanding | 11.94M | 11.88M | 11.15M | 11.01M | 11.17M | 12.05M |
| Total Common Shares Outstanding | 11.94M | 11.83M | 11.11M | 11.01M | 11.25M | 12.00M |
| Book Value Per Share | 17.06 | 16.89 | 15.44 | 14.35 | 13.62 | 13.78 |
| Tangible Book Value | 200.32M | 196.25M | 167.86M | 154.15M | 149.21M | 161.08M |
| Tangible Book Value Per Share | 16.78 | 16.59 | 15.11 | 14.00 | 13.26 | 13.42 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 21.84M | 16.35M | 13.24M | 21.83M | 35.59M | |
| Depreciation & Amortization | -786.00K | 2.49M | 2.58M | 815.00K | -4.44M | |
| Other Amortization | 123.00K | 122.00K | 87.00K | 117.00K | 118.00K | |
| Gain (Loss) on Sale of Assets | -418.00K | -4.31M | ||||
| Gain (Loss) on Sale of Investments | 864.00K | 4.02M | 2.40M | 1.91M | 5.27M | |
| Total Asset Writedown | -35.00K | -194.00K | -98.00K | 262.00K | -370.00K | |
| Provision for Credit Losses | 15.15M | 11.40M | 6.82M | 2.49M | 1.07M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 19.74M | 13.42M | 12.20M | 84.20M | 212.68M | |
| Accrued Interest Receivable | -766.00K | -633.00K | -1.96M | -2.35M | 473.00K | |
| Change in Other Net Operating Assets | -3.74M | -5.32M | -3.30M | -2.45M | -5.28M | |
| Other Operating Activities | -27.19M | -24.27M | -21.81M | -30.34M | -83.19M | |
| Operating Cash Flow | 24.30M | 9.60M | 18.85M | 84.67M | 165.12M | |
| Capital Expenditures | -1.73M | -568.00K | -1.82M | -2.91M | -5.37M | |
| Sale of Property, Plant and Equipment | 40.00K | |||||
| Investment in Securities | -15.55M | -29.22M | -8.64M | -23.97M | -40.31M | |
| Purchase / Sale of Intangibles | 1.38M | 9.88M | ||||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -147.98M | -147.27M | -152.58M | -359.46M | -87.58M | |
| Other Investing Activities | -62.00K | 2.18M | -1.14M | -6.81M | -7.26M | |
| Investing Cash Flow | -163.90M | -165.00M | -164.19M | -393.15M | -140.51M | |
| Short-Term Debt Issued | 8.11M | 28.08M | 71.80M | |||
| Long-Term Debt Issued | 34.48M | 8.94M | ||||
| Total Debt Issued | 8.11M | 62.55M | 80.74M | |||
| Short-Term Debt Repaid | -42.59M | -65.52M | ||||
| Long-Term Debt Repaid | -15.26M | -8.05M | -328.00K | -279.00K | -165.83M | |
| Total Debt Repaid | -15.26M | -50.64M | -328.00K | -279.00K | -231.34M | |
| Net Debt Issued (Repaid) | -7.15M | -50.64M | 62.23M | 80.46M | -231.34M | |
| Issuance of Common Stock | 8.40M | 499.00K | 309.00K | 754.00K | 1.10M | |
| Repurchase of Common Stock | -425.00K | -4.26M | -12.96M | -3.03M | ||
| Common Dividends Paid | -5.67M | -5.60M | -5.61M | -10.93M | -9.68M | |
| Total Dividends Paid | -5.67M | -5.60M | -5.61M | -10.93M | -9.68M | |
| Net Increase (Decrease) in Deposit Accounts | 152.76M | 181.91M | 110.98M | 266.07M | 205.08M | |
| Other Financing Activities | -9.00K | |||||
| Financing Cash Flow | 147.92M | 126.16M | 163.64M | 323.39M | -37.87M | |
| Net Cash Flow | 8.32M | -29.23M | 18.31M | 14.91M | -13.26M | |
| Free Cash Flow | 22.57M | 9.03M | 17.03M | 81.76M | 159.75M | |
| Free Cash Flow Margin | 20.20% | 8.95% | 18.10% | 74.76% | 106.48% | |
| Free Cash Flow Per Share | 1.96 | 0.80 | 1.50 | 6.70 | 12.87 | |
| Cash Interest Paid | 78.97M | 88.50M | 59.71M | 16.23M | 9.53M | |
| Cash Income Tax Paid | 11.21M | 3.08M | 3.10M | 5.37M | 14.07M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 220.95M | 202.48M | 151.73M | 152.78M | 172.47M | 219.13M |
| Last Close Price | 18.70 | 17.21 | 12.97 | 12.54 | 13.08 | 15.08 |
| PE Ratio | 11.08 | 9.27 | 9.28 | 11.54 | 7.90 | 6.16 |
| PS Ratio | 1.99 | 1.81 | 1.50 | 1.62 | 1.58 | 1.46 |
| PB Ratio | 1.10 | 1.01 | 0.89 | 0.97 | 1.12 | 1.32 |
| P/FCF Ratio | 11.99 | 8.97 | 16.80 | 8.97 | 2.11 | 1.37 |
| P/OCF Ratio | 11.07 | 8.33 | 15.81 | 8.10 | 2.04 | 1.33 |
| Debt / Equity Ratio | 0.81 | 0.90 | 1.07 | 1.51 | 1.16 | 0.50 |
| Debt / FCF Ratio | 7.99 | 20.39 | 13.99 | 2.17 | 0.52 | |
| Net Debt / Equity Ratio | 0.67 | 0.71 | 0.90 | 1.12 | 0.88 | 0.35 |
| Net Debt / FCF Ratio | 6.30 | 17.02 | 10.44 | 1.66 | 0.36 | |
| Return on Equity (ROE) | 10.32% | 11.76% | 9.92% | 8.51% | 13.70% | 23.18% |
| Return on Assets (ROA) | 0.79% | 0.88% | 0.71% | 0.61% | 1.16% | 2.07% |
| Earnings Yield | 9.02% | 10.78% | 10.77% | 8.67% | 12.66% | 16.24% |
| FCF Yield | 8.34% | 11.14% | 5.95% | 11.15% | 47.41% | 72.90% |
| Dividend Yield | 3.03% | 3.01% | 3.66% | 3.60% | 2.61% | 1.57% |
| Payout Ratio | 33.53% | 25.98% | 34.27% | 42.39% | 50.07% | 27.20% |
| Buyback Yield / Dilution | -5.63% | -2.62% | 1.26% | 6.69% | 1.68% | -0.31% |
| Total Shareholder Return | -2.63% | 0.38% | 4.92% | 10.30% | 4.29% | 1.27% |