Meridian Corp Stock Price, News & Analysis

Meridian Corporation (MRBK) reported its fourth quarter 2021 results, revealing a net income of $7.7 million, or $1.24 per diluted share, down 18.2% from Q3 2021. Total revenue reached $35.3 million, with a year-to-date net income of $35.6 million, a 35% increase from 2020. The board declared a quarterly cash dividend of $0.20 and a special dividend of $1.00, both payable on February 21, 2022. Loan and lease growth year-over-year was 19.5%. Non-interest income fell by 22.8%, primarily due to a decline in mortgage banking revenues. Total assets were reported at $1.71 billion, down 2.8% from the previous quarter.

Meridian Corporation (MRBK) reported a net income of $9.4 million, or $1.52 per diluted share for Q3 2021, marking a 14.3% increase from Q2 2021. Year-to-date, income reached $27.9 million, compared to $17.4 million in 2020. The bank's total assets grew to $1.8 billion, with deposits up 15.9%. A quarterly dividend of $0.20 per common share has been declared, payable on November 22, 2021. Despite a decline in mortgage banking revenues by 3.8%, strong SBA sales and controlled expenses contributed positively to performance.

Meridian Corporation (Nasdaq: MRBK) has authorized a significant increase in its stock repurchase plan, now totaling $20 million, an increase from the previous $6 million initiated in April 2021. This adjustment allows for the repurchase of approximately 490,000 additional shares, amounting to an 8% increase in outstanding shares as of June 30, 2021. The repurchase is aimed at enhancing shareholder value, reflecting the company's confidence in its stock price. The actual timing and execution of the buybacks will depend on various market and financial factors.

Meridian Corporation (Nasdaq: MRBK) reported strong quarterly earnings for Q2 2021, with a net income of $8.3 million or $1.33 per diluted share. This is a decline of 18.8% from Q1 2021, primarily due to reduced non-interest income. Total revenues reached $39.2 million, highlighting the bank's robust performance in the commercial loan market, with a notable 17% annualized growth. The Board declared a cash dividend of $0.125 per share, payable on August 16, 2021. Total assets decreased slightly to $1.7 billion, while total loans net of allowance rose by 1% to $1.3 billion.

Meridian Corporation (MRBK) reported strong Q1 2021 results with net income of $10.2 million, or $1.65 per diluted share, representing a 304.2% increase year-over-year. Revenue stood at $44.5 million, a 93.4% increase from Q1 2020. Notably, the mortgage division contributed $24.7 million, despite a seasonal decline. The Board authorized a $6 million stock repurchase plan to enhance shareholder value. With a 30.06% ROE and 2.43% ROA, Meridian shows resilience amid economic challenges, aided by the PPP program and a robust local merger. Cash dividends of $0.125 per share are set for distribution.

Meridian Corporation (Nasdaq: MRBK) declared a special dividend of $1.00 per share on its Common Stock, payable on March 15, 2021 to shareholders of record by March 1, 2021. In 2020, the company reported revenue of $149.6 million and a net income of $26.4 million, achieving 162% diluted EPS growth and a 21% return on equity. The decision to issue a special dividend reflects strong performance in the mortgage division and a commitment to returning capital to shareholders while maintaining adequate capital for growth.

Meridian Corporation (MRBK) reported impressive financial results for the fourth quarter of 2020, achieving net income of $9.0 million or $1.48 per diluted share. For the year, net income reached $26.4 million, a 152.2% increase from 2019, driven by a 78.4% growth in total revenue to $149.6 million. The bank's mortgage division saw a massive 217.1% jump in banking revenue, largely due to a booming housing market and increased refinancing. A quarterly cash dividend of $0.125 has been declared, payable on February 22, 2021.