Meridian Corporation
Description
Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits. It also provides commercial and industrial loans comprising business lines of credit, term loans, small business lending, lease financing, shared national credits, and other financing; commercial real estate, and land development and construction loans for residential and commercial projects; and consumer and home equity lending, private banking, merchant, and title and land settlement services. In addition, the company operates and originates mortgage loans for 1-4 family dwellings; and offers real estate holding, investment advisory, and equipment leasing services, as well as financial planning and wealth management services. Meridian Corporation was incorporated in 2004 and is headquartered in Malvern, Pennsylvania.
About
CEO
Mr. Christopher J. Annas
Employees
324
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNGS
Address
9 Old Lincoln Highway, Malvern, PA 19355, United States
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Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Jan 22, 2026 | — | — | — | — |
| Oct 22, 2025 | — | — | — | — |
| Jul 24, 2025 | — | — | — | — |
| Apr 24, 2025 | — | — | — | — |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Dec 2025)
|
Next Year
(Dec 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 2 | 2 | 2 | 2 |
| Average estimate | 0.33 | 0.41 | 1.72 | 2.21 |
| Low estimate | 0.26 | 0.37 | 1.70 | 2.02 |
| High estimate | 0.39 | 0.44 | 1.74 | 2.40 |
| Last year EPS | 0.24 | 0.30 | 1.45 | 1.72 |
[stock_revenue_estimate]
Growth estimates
Current qtr (Mar 2025)
35.420%
Next qtr. (Jun 2025)
35.000%
Current year (Dec 2025)
18.620%
Next year (Dec 2026)
28.490%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 100.91M | 111.85M | 151.10M | 135.91M | 69.23M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 54.04M | 59.96M | 82.58M | 75.00M | 37.63M |
| Other operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 16.97M | 27.92M | 46.30M | 34.54M | 13.51M |
| Tax provision | 3.72M | 6.09M | 10.72M | 8.10M | 3.03M |
| Net income | 13.24M | 21.83M | 35.59M | 26.44M | 10.48M |
| Basic EPS | 1.19 | 1.85 | 2.96 | 2.16 | 0.82 |
| Diluted EPS | 1.16 | 1.79 | 2.87 | 2.14 | 0.82 |
| Basic average shares | 11.12M | 11.79M | 12.04M | 12.24M | 12.81M |
| Diluted average shares | 11.12M | 11.79M | 12.04M | 12.24M | 12.81M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 13.24M | 21.83M | 35.59M | 26.44M | 10.48M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 10.07M | 11.30M | 3.97M | 34.19M | 19.11M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 56.70M | 38.39M | 23.48M | 34.19M | 19.11M |
| Other short term investments | 146.02M | 135.35M | 159.30M | 123.56M | 58.86M |
| Accounts receivable | 9.33M | 7.36M | 5.01M | 5.48M | 3.15M |
| Other receivables | 117.93M | 137.39M | 88.24M | 31.04M | 697,000 |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | 818,000 | 818,000 | 818,000 | 818,000 | 815,000 |
| Machinery furniture equipment | 12.98M | 12.82M | 11.20M | 9.73M | 8.93M |
| Construction in progress | — | 40,000 | 3.76M | — | 102,000 |
| Leases | 4.23M | 3.35M | 3.35M | 3.20M | 3.16M |
| Accumulated depreciation | -13.77M | -12.83M | -11.46M | -10.12M | -8.51M |
| Goodwill | 4.77M | 4.97M | 5.18M | 5.40M | 5.67M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 2.97M | 3.18M | 3.38M | 3.60M | 3.87M |
| Investments and advances | 183.92M | 174.91M | 168.03M | 131.10M | 68.65M |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | 10.32M | 2.39M | 31,000 | 1.15M | 1.09M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | — | — | 106.86M | 123.68M |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 49.84M | 40.35M | 40.51M | 40.67M | 40.96M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 13.19M | 13.16M | 6.54M | 6.46M | 6.41M |
| Retained earnings | 101.22M | 95.82M | 84.92M | 59.01M | 34.10M |
| Other shareholders equity | -9.42M | -11.54M | 708,000 | 2.56M | -3,000 |
| Total shareholders equity | 158.02M | 153.28M | 165.36M | 141.62M | 120.70M |
| Additional paid in capital | 80.33M | 79.07M | 83.66M | 81.20M | 80.20M |
| Treasury stock | 26.08M | 21.82M | 8.86M | 5.83M | 3,000 |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | 13.24M | 21.83M | 35.59M | 26.44M | 10.48M | 8.16M | 3.03M | 4.92M | 6.19M |
| Depreciation | 2.48M | 1.08M | -4.81M | -2.07M | 867,000 | 1.42M | 963,000 | 1.79M | 815,000 |
| Deferred Taxes | -234,000 | 1.11M | -768,000 | 1.25M | -503,000 | -385,000 | -66,000 | -732,000 | 215,000 |
| Stock-Based Compensation | 1.17M | 1.48M | 1.61M | 763,000 | 272,000 | 293,000 | 203,000 | 175,000 | 39,000 |
| Other Non-Cash Items | -5.04M | 58.44M | 136.50M | -198.12M | 7.09M | 758,000 | 4.31M | 43.18M | -38.28M |
| Accounts Receivable | -1.96M | -2.35M | 473,000 | -2.33M | -259,000 | -353,000 | -413,000 | -173,000 | -650,000 |
| Accounts Payable | 7.94M | 2.36M | -1.12M | 66,000 | 783,000 | 89,000 | 22,000 | 35,000 | 7,000 |
| Other Assets & Liabilities | -3.30M | -2.45M | -5.28M | 20.04M | 2.66M | -688,000 | -97,000 | 777,000 | -2.56M |
| Operating Cash Flow | 14.29M | 81.49M | 162.18M | -153.97M | 21.39M | 9.30M | 7.96M | 49.97M | -34.23M |
| Investing Activities | |||||||||
| Capital Expenditures | -1.82M | -2.91M | -5.37M | -747,000 | -746,000 | -1.64M | -2.41M | -3.54M | -1.32M |
| Net Intangibles | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | -3.23M | — | — |
| Purchase of Investments | -33.21M | -37.00M | -74.34M | -114.49M | -44.68M | -17.09M | -12.60M | -16.24M | -23.53M |
| Sale of Investments | 24.57M | 13.03M | 34.03M | 56.31M | 38.61M | 6.18M | 7.18M | 6.36M | 13.70M |
| Investing Cash Flow | -11.61M | -33.69M | -52.94M | -58.59M | -7.89M | -12.25M | -16.45M | -13.40M | -12.49M |
| Financing Activities | |||||||||
| Long-Term Debt Issuance | 34.48M | 8.94M | — | 162.42M | 40.00M | — | — | 1.25M | 2.00M |
| Long-Term Debt Payments | -328,000 | -279,000 | -231.35M | -16.99M | -8.26M | -4.89M | -480,000 | -69,000 | — |
| Other Financing Charges | -9,000 | — | — | -231,000 | -943,000 | — | — | — | 23,000 |
| Financing Cash Flow | 52.35M | 56.57M | -309.57M | 121.58M | 37.88M | 7.86M | 15.81M | 28.89M | 47.75M |
| Other Cash Details | |||||||||
| End Cash Position | 56.70M | 38.39M | 23.48M | 36.74M | 39.37M | 23.95M | 35.51M | 18.87M | 19.16M |
| Income Tax Paid | 3.10M | 5.37M | 14.07M | 5.30M | 2.64M | 2.74M | 2.75M | 2.72M | 3.70M |
| Interest Paid | 59.71M | 16.24M | 9.53M | 13.59M | 15.74M | 11.32M | 6.76M | 5.16M | 4.58M |
| Free Cash Flow | 17.03M | 81.76M | 159.75M | -159.21M | 20.82M | 9.39M | 8.07M | 48.59M | -35.06M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 367,884 | 6.18M | 3.27% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 143,789 | 2.42M | 1.28% |
| Fidelity Extended Market Index Fund | Nov 30, 2024 | 50,245 | 844,115 | 0.45% |
| Bridgeway Fds Inc-Omni Small Cap Value Fund | Sep 30, 2024 | 43,800 | 735,839 | 0.39% |
| DFA U.S. Small Cap Value Series | Oct 31, 2024 | 42,730 | 717,863 | 0.38% |
| Bridgeway Funds Inc-Ultra Small Company Market Fund | Sep 30, 2024 | 34,200 | 574,559 | 0.30% |
| DFA U.S. Small Cap Series | Oct 31, 2024 | 24,189 | 406,375 | 0.22% |
| iShares Micro Cap ETF | Nov 30, 2024 | 22,113 | 371,498 | 0.20% |
| DFA U.S. Targeted Value Portfolio | Oct 31, 2024 | 17,504 | 294,067 | 0.16% |
| Dimensional ETF Tr-Dimensional U.S. Core Equity 2 ETF | Oct 31, 2024 | 16,539 | 277,855 | 0.15% |
Article
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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Meridian Bank (MRBK) Tops Q4 Earnings and Revenue Estimates
Meridian Bank (MRBK) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.05 per share a year ago.
Jan 24, 2025
Article
Meridian Corporation Reports Fourth Quarter 2024 Results and Announces a Quarterly Dividend of $0.125 per Common Share
MALVERN, Pa., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Meridian Corporation (Nasdaq: MRBK) today reported: Three Months Ended Year Ended (Dollars in thousands, except per share data)(Unaudited) December 31, 2024 September 30, 2024 December 31, 2024 December 31, 2023 Income: Net income $ 5,601 $ 4,743 $ 16,346 $ 13,243 Diluted earnings per common share $ 0.49 $ 0.42 $ 1.45 $ 1.16 Pre-tax, pre-provision income(1) $ 11,168 $ 8,527 $ 33,186 $ 23,782 (1) See Non-GAAP reconciliation in the Appendix Net income for the quarter ended December 31, 2024 was $5.6 million, or $0.49 per diluted share and $16.3 million, or $1.45 per diluted share, for the year.
Jan 24, 2025
