Meridian Corp Financials

MRBK

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 53/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Meridian Corp's revenue surged 16.4% year-over-year to $5.7M, reflecting rapid business expansion. This strong growth earns a score of 75/100.

Leverage

Meridian Corp has elevated debt relative to equity (D/E of 12.91), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

100

Meridian Corp converts 157.4% of revenue into free cash flow ($9.0M). This strong cash generation earns a score of 100/100.

Returns

Meridian Corp's ROE of 9.5% shows moderate profitability relative to equity, earning a score of 38/100. This is up from 8.4% the prior year.

Piotroski F-Score Neutral

4/9

Meridian Corp passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

0.59x

For every $1 of reported earnings, Meridian Corp generates $0.59 in operating cash flow ($9.6M OCF vs $16.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Meridian Corp (MRBK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Export CSV

Key Financial Metrics

Revenue

$5.7M

YoY+16.4%

5Y CAGR-35.9%

Meridian Corp generated $5.7M in revenue in fiscal year 2024. This represents an increase of 16.4% from the prior year.

EBITDA

N/A

Free Cash Flow

$9.0M

YoY-47.0%

5Y CAGR-15.4%

Meridian Corp generated $9.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 47.0% from the prior year.

Net Income

$16.3M

YoY+23.4%

5Y CAGR+9.3%

Meridian Corp reported $16.3M in net income in fiscal year 2024. This represents an increase of 23.4% from the prior year.

EPS (Diluted)

$1.45

YoY+25.0%

5Y CAGR-2.3%

Meridian Corp earned $1.45 per diluted share (EPS) in fiscal year 2024. This represents an increase of 25.0% from the prior year.

Cash & Debt

$27.5M

YoY-51.6%

5Y CAGR-7.0%

Meridian Corp held $27.5M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.50

YoY+0.0%

Meridian Corp paid $0.50 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

11M

YoY+0.5%

5Y CAGR+11.9%

Meridian Corp had 11M shares outstanding in fiscal year 2024. This represents an increase of 0.5% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

285.0%

YoY+16.3pp

5Y CAGR+265.2pp

Meridian Corp's net profit margin was 285.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 16.3 percentage points from the prior year.

Return on Equity

9.5%

YoY+1.1pp

5Y CAGR+0.8pp

Meridian Corp's ROE was 9.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.1 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Meridian Corp spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$568K

YoY-68.8%

5Y CAGR-5.3%

Meridian Corp invested $568K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 68.8% from the prior year.

MRBK Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$5.7M+16.4%	$4.9M+4.1%	$4.7M-93.4%	$71.5M+14.2%	$62.7M+18.5%	$52.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$85.0M+25.7%	$67.6M+263.8%	$18.6M+121.1%	$8.4M-38.4%	$13.7M-17.3%	$16.5M
Income Tax	$5.4M+46.1%	$3.7M-38.9%	$6.1M-43.2%	$10.7M+32.3%	$8.1M+167.0%	$3.0M
Net Income	$16.3M+23.4%	$13.2M-39.3%	$21.8M-38.7%	$35.6M+34.6%	$26.4M+152.2%	$10.5M
EPS (Diluted)	$1.45+25.0%	$1.16-35.2%	$1.79-37.6%	$2.87-32.8%	$4.27+162.0%	$1.63

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.6M+7.9%	$1.5M-2.8%	$1.5M+0.5%	$1.5M+5.7%	$1.4M+9.6%	$1.3M+6.3%	$1.2M-1.5%	$1.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$20.0M-0.3%	$20.1M+3.4%	$19.4M-6.4%	$20.7M-4.1%	$21.6M+4.9%	$20.6M+6.2%	$19.4M+6.4%	$18.2M
Income Tax	$2.0M+18.8%	$1.7M+127.2%	$746K-62.6%	$2.0M+87.1%	$1.1M+21.6%	$877K+462.2%	$156K-87.1%	$1.2M
Net Income	$6.7M+19.1%	$5.6M+133.1%	$2.4M-57.2%	$5.6M+68.4%	$3.3M+24.3%	$2.7M+367.8%	$572K-85.7%	$4.0M
EPS (Diluted)	$0.58+18.4%	$0.49+133.3%	$0.21-57.1%	$0.49+63.3%	$0.30+25.0%	$0.24+300.0%	$0.06-82.9%	$0.35

MRBK Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.4B+6.2%	$2.2B+8.9%	$2.1B+20.4%	$1.7B-0.4%	$1.7B+49.6%	$1.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$27.5M-51.6%	$56.7M+47.7%	$38.4M+63.5%	$23.5M-36.1%	$36.7M-6.7%	$39.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$899K0.0%	$899K0.0%	$899K0.0%	$899K0.0%	$899K0.0%	$899K
Total Liabilities	$2.2B+6.0%	$2.1B+9.4%	$1.9B+23.3%	$1.5B-1.9%	$1.6B+53.4%	$1.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	$8.9M	$0	N/A	N/A
Total Equity	$171.5M+8.5%	$158.0M+3.1%	$153.3M-7.3%	$165.4M+16.8%	$141.6M+17.3%	$120.7M
Retained Earnings	$112.0M+10.6%	$101.2M+5.6%	$95.8M+12.8%	$84.9M+43.9%	$59.0M+73.1%	$34.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$2.5B+1.2%	$2.5B-0.7%	$2.5B+6.0%	$2.4B+1.5%	$2.4B+2.6%	$2.3B+2.1%	$2.2B+0.7%	$2.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$40.0M-20.3%	$50.2M-61.8%	$131.2M+377.8%	$27.5M+14.1%	$24.1M+4.5%	$23.0M-59.4%	$56.7M-5.1%	$59.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$899K0.0%	$899K0.0%	$899K0.0%	$899K0.0%	$899K0.0%	$899K0.0%	$899K0.0%	$899K
Total Liabilities	$2.4B+0.9%	$2.3B-1.0%	$2.4B+6.4%	$2.2B+1.1%	$2.2B+2.6%	$2.1B+2.1%	$2.1B+0.6%	$2.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$188.0M+5.6%	$178.0M+2.6%	$173.6M+1.2%	$171.5M+5.6%	$162.4M+1.5%	$159.9M+1.2%	$158.0M+1.9%	$155.1M
Retained Earnings	$122.4M+4.5%	$117.1M+3.7%	$113.0M+0.9%	$112.0M+7.2%	$104.4M+1.9%	$102.5M+1.3%	$101.2M-0.8%	$102.0M

MRBK Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$9.6M-49.1%	$18.9M-77.7%	$84.7M-48.7%	$165.1M+204.2%	-$158.5M-834.7%	$21.6M
Capital Expenditures	$568K-68.8%	$1.8M-37.3%	$2.9M-45.9%	$5.4M+619.4%	$747K+0.1%	$746K
Free Cash Flow	$9.0M-47.0%	$17.0M-79.2%	$81.8M-48.8%	$159.7M+200.3%	-$159.2M-864.6%	$20.8M
Investing Cash Flow	-$165.0M-0.5%	-$164.2M+58.2%	-$393.1M-179.8%	-$140.5M+62.1%	-$370.7M-159.1%	-$143.1M
Financing Cash Flow	$126.2M-22.9%	$163.6M-49.4%	$323.4M+953.9%	-$37.9M-107.2%	$526.5M+284.5%	$136.9M
Dividends Paid	$5.6M-0.2%	$5.6M-48.6%	$10.9M+12.9%	$9.7M+534.7%	$1.5M	N/A
Share Buybacks	$0-100.0%	$4.3M-67.1%	$13.0M+327.5%	$3.0M-46.8%	$5.7M+190000.0%	$3K

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$24.4M+302.6%	-$12.0M-166.5%	$18.1M+2673.4%	-$704K+96.3%	-$19.2M-1026.0%	-$1.7M-121.7%	$7.9M-65.1%	$22.5M
Capital Expenditures	$448K-29.0%	$631K+143.6%	$259K-25.1%	$346K+540.7%	$54K-97.2%	$1.9M+157.1%	$743K+55.1%	$479K
Free Cash Flow	$24.0M+289.0%	-$12.7M-171.0%	$17.9M+1800.8%	-$1.1M+94.5%	-$19.3M-432.7%	-$3.6M-150.8%	$7.1M-67.7%	$22.1M
Investing Cash Flow	-$55.3M-13.5%	-$48.7M+6.0%	-$51.8M-496.7%	-$8.7M+74.9%	-$34.6M+56.0%	-$78.7M-272.2%	-$21.2M+23.0%	-$27.5M
Financing Cash Flow	$20.7M+201.9%	-$20.3M-114.8%	$137.5M+2951.0%	$4.5M-91.8%	$54.8M+17.3%	$46.8M+357.4%	$10.2M-42.7%	$17.8M
Dividends Paid	$1.4M+0.2%	$1.4M+0.3%	$1.4M+0.2%	$1.4M+0.5%	$1.4M-0.1%	$1.4M+0.2%	$1.4M-0.1%	$1.4M
Share Buybacks	N/A	N/A	N/A	$0	$0	$0	$0+100.0%	-$1K

MRBK Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	285.0%+16.3pp	268.7%-192.5pp	461.2%+411.5pp	49.8%+7.6pp	42.2%+22.4pp	19.8%
Return on Equity	9.5%+1.1pp	8.4%-5.9pp	14.2%-7.3pp	21.5%+2.8pp	18.7%+10.0pp	8.7%
Return on Assets	0.7%+0.1pp	0.6%-0.5pp	1.1%-1.0pp	2.1%+0.5pp	1.5%+0.6pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	12.91-0.3	13.21+13.2	0.06+0.1	0.00-11.1	11.15+2.6	8.53
FCF Margin	157.4%-188.2pp	345.6%-1381.9pp	1727.5%+1504.2pp	223.4%+477.5pp	-254.1%-293.5pp	39.4%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	413.6%+38.8pp	374.8%+218.5pp	156.3%-210.5pp	366.8%+136.5pp	230.3%+27.1pp	203.2%+157.0pp	46.2%-272.2pp	318.4%
Return on Equity	3.5%+0.4pp	3.1%+1.8pp	1.4%-1.9pp	3.3%+1.2pp	2.1%+0.4pp	1.7%+1.3pp	0.4%-2.2pp	2.6%
Return on Assets	0.3%+0.0pp	0.2%+0.1pp	0.1%-0.1pp	0.2%+0.1pp	0.1%+0.0pp	0.1%+0.1pp	0.0%-0.1pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	12.51-0.6	13.10-0.5	13.57+0.7	12.91-0.6	13.48+0.1	13.34+0.1	13.21-0.2	13.38
FCF Margin	1488.0%+2337.6pp	-849.6%-2013.0pp	1163.4%+1232.2pp	-68.8%+1265.2pp	-1334.0%-1059.4pp	-274.6%-849.5pp	574.9%-1178.2pp	1753.1%

Similar Companies

Mainstreet Bancshares Inc MNSB

$167.0M

United Sec Bancshares Calif UBFO

$192.9M

Essa Banc ESSA

$209.3M

Eagle Finl Svcs Inc EFSI

$208.6M

National Bankshares Inc Va NKSH

$242.9M

Frequently Asked Questions

What is Meridian Corp's annual revenue?

Meridian Corp (MRBK) reported $5.7M in total revenue for fiscal year 2024. This represents a 16.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Meridian Corp's revenue growing?

Meridian Corp (MRBK) revenue grew by 16.4% year-over-year, from $4.9M to $5.7M in fiscal year 2024.

Is Meridian Corp profitable?

Yes, Meridian Corp (MRBK) reported a net income of $16.3M in fiscal year 2024, with a net profit margin of 285.0%.

What is Meridian Corp's earnings per share (EPS)?

Meridian Corp (MRBK) reported diluted earnings per share of $1.45 for fiscal year 2024. This represents a 25.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Meridian Corp's net profit margin?

Meridian Corp (MRBK) had a net profit margin of 285.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Meridian Corp pay dividends?

Yes, Meridian Corp (MRBK) paid $0.50 per share in dividends during fiscal year 2024.

What is Meridian Corp's return on equity (ROE)?

Meridian Corp (MRBK) has a return on equity of 9.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Meridian Corp's free cash flow?

Meridian Corp (MRBK) generated $9.0M in free cash flow during fiscal year 2024. This represents a -47.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Meridian Corp's operating cash flow?

Meridian Corp (MRBK) generated $9.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Meridian Corp's total assets?

Meridian Corp (MRBK) had $2.4B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Meridian Corp's capital expenditures?

Meridian Corp (MRBK) invested $568K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Meridian Corp have outstanding?

Meridian Corp (MRBK) had 11M shares outstanding as of fiscal year 2024.

What is Meridian Corp's debt-to-equity ratio?

Meridian Corp (MRBK) had a debt-to-equity ratio of 12.91 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Meridian Corp's return on assets (ROA)?

Meridian Corp (MRBK) had a return on assets of 0.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Meridian Corp's Piotroski F-Score?

Meridian Corp (MRBK) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Meridian Corp's earnings high quality?

Meridian Corp (MRBK) has an earnings quality ratio of 0.59x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Meridian Corp?

Meridian Corp (MRBK) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.