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Meridian Corporation - MRBK STOCK NEWS

Welcome to our dedicated page for Meridian Corporation news (Ticker: MRBK), a resource for investors and traders seeking the latest updates and insights on Meridian Corporation stock.

Meridian Corporation (MRBK) is a locally-based community bank dedicated to providing a comprehensive array of financial services to businesses, professionals, and retail customers across Pennsylvania, New Jersey, and Delaware. As a full-service, state-chartered commercial bank, Meridian operates in three primary segments: Bank, Wealth, and Mortgage.

The largest segment, Bank, encompasses commercial and retail banking services. Meridian generates interest income through its lending and investing activities. The bank's portfolio includes commercial and consumer real estate financing, residential mortgages, investment and wealth management services, retail banking, and electronic payments processing. These services are supported by a network of branches that gather deposits, which are essential for funding loans and generating net interest income.

Meridian prides itself on delivering tailored financial solutions designed by experienced bankers. These solutions are delivered efficiently through advanced technological channels, ensuring customers receive personalized and convenient service. As a member of FDIC and an Equal Housing Lender, the bank adheres to stringent regulatory standards, providing customers with peace of mind.

In recent times, Meridian Bank has continued to grow and expand its presence in the Delaware Valley region. With a focus on high visibility and community presence, the bank has become a preferred financial institution in its service areas. The forecasted rate declines are expected to create a robust business environment, further driving the bank's growth.

For more information, contact Christopher J. Annas at CAnnas@meridianbanker.com or call 484.568.5001.

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Meridian Bank has appointed Christopher E. McDermott as Senior Vice President, Commercial Lending, bringing his extensive banking experience to serve business customers in Bucks and Montgomery Counties. McDermott's background includes working for large and small institutions in commercial lending, and his expertise will enhance Meridian's 'Continuum of Lending' strategy. CEO Chris Annas believes McDermott's experience aligns well with Meridian's culture of partnership and customer loyalty.

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Meridian (MRBK) reported first-quarter 2024 results, with net income of $2.7 million and diluted earnings per share of $0.24. Commercial loans increased by 5% for the quarter. Total assets were $2.3 billion. The Board declared a dividend of $0.125 per share. The CEO noted improvements in earnings, stable interest margins, and growth in the Philadelphia metro region.

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Meridian Bank appoints Patrick Hart as Senior Vice President, Commercial Lending, bringing 25 years of banking experience in the Greater Philadelphia region. Hart's expertise in credit and lending will benefit the bank's Chester County team, focusing on commercial and industrial organizations. Marc Pelletier, Meridian SVP, praises Hart's skills and enthusiasm for customer service.
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Meridian Corporation (MRBK) reported a decrease in net income to $571 thousand for the fourth quarter of 2023, down from $4.0 million in the prior quarter. The decline was attributed to additional provisions for non-performing commercial credit and negative impact from the rise in interest rates. However, the company saw a 9% increase in commercial loans, excluding leases, and a 3.18% net interest margin for the fourth quarter. The Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable February 20, 2024. The company's CEO expressed confidence in the existing reserves and expected resolution in the commercial credit in 2024, with continued growth in core portfolios and a stable business environment in the Philadelphia metro region.
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Meridian Bank (MRBK) ranks as a top lender in the SBA's Eastern Pennsylvania District, securing first place in dollar volume and third in the total number of SBA 7(a) loans in fiscal year 2023. Meridian provided $128.8 million in 7(a) lending through 138 loans, marking a consistent increase over the past four years. The bank also ranks third in New Jersey and 47th in the nation by volume. Rocco Perate, Executive Vice President, SBA Lending, attributes this success to the bank's entrepreneurial spirit, dedicated team, and commitment to understanding small businesses' needs.
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Meridian Corporation reports net income of $4.0 million and diluted earnings of $0.35 per share for Q3 2023. Return on average assets and return on average equity were 0.73% and 10.17%, respectively. Total assets at September 30, 2023, were $2.2 billion. Commercial loan growth was $21.3 million, or 6.1% annualized. Deposit growth was $26.0 million, or 6.0% annualized. The Board of Directors declared a quarterly cash dividend of $0.125 per common share.
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Meridian Bank announces retirement of Chief Credit Officer
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Meridian Corporation reports net income of $4.6 million and diluted earnings per share of $0.41 for Q2 2023. Return on average assets and return on average equity were 0.86% and 12.08% respectively. Total assets at June 30, 2023, were $2.2 billion. Second-quarter commercial loan growth was $27.4 million, or 7.2% annualized. Second-quarter deposit growth was $12.2 million, or 2.8% annualized. The company repurchased 127,849 shares of its common stock at an average price of $12.21 per share during the second quarter. A quarterly cash dividend of $0.125 per common share was declared.
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FAQ

What services does Meridian Corporation provide?

Meridian Corporation offers commercial and retail banking, real estate financing, residential mortgages, investment and wealth management, retail banking, and electronic payments processing.

In which states does Meridian operate?

Meridian operates in Pennsylvania, New Jersey, and Delaware.

What are the main business segments of Meridian?

Meridian operates in three segments: Bank, Wealth, and Mortgage.

How does Meridian generate revenue?

Meridian generates revenue primarily from interest income through its lending and investing activities.

What makes Meridian's financial solutions unique?

Meridian's financial solutions are tailored and designed by experienced bankers, delivered through efficient technological channels.

Is Meridian a member of the FDIC?

Yes, Meridian is a member of the FDIC and an Equal Housing Lender.

How does Meridian fund its loans?

Meridian funds its loans through lower-cost deposits gathered from its branch network and borrowed funds from other sources.

What recent achievements has Meridian made?

Meridian has continued to grow in the Delaware Valley region, becoming a preferred bank and maintaining high visibility in its service areas.

What is the expected impact of forecasted rate declines on Meridian?

The forecasted rate declines are expected to create a robust business environment, supporting further growth for Meridian.

Who can I contact for more information about Meridian?

For more information, you can contact Christopher J. Annas at CAnnas@meridianbanker.com or call 484.568.5001.

Meridian Corporation

Nasdaq:MRBK

MRBK Rankings

MRBK Stock Data

130.20M
11.19M
20.47%
57.95%
0.13%
Commercial Banking
Finance and Insurance
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United States of America
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