Meridian (MRBK) SEC Filings

Fourthstone LLC and related entities report passive ownership of Meridian Corporation common stock. Fourthstone, as investment adviser, holds 538,390 shares on behalf of advisory clients, representing 4.53% of the 11,890,278 Meridian shares outstanding as of May 7, 2026. Other affiliated funds and entities report various shared voting and dispositive powers over subsets of these shares. The reporting group states the securities were acquired in the ordinary course of business and not for the purpose of changing or influencing control of Meridian Corporation.

Meridian Corporation generated Q2 2026 net income of $5.8 million and first‑half net income of $7.8 million, compared with $5.6 million and $8.0 million a year earlier. Diluted EPS was $0.48 for the quarter and $0.64 for the first half. Six‑month net interest income increased to $46.0 million from $40.9 million, while the provision for credit losses rose to $10.5 million from $9.0 million.

Total assets reached about $2.59 billion at June 30, 2026, including loans and other finance receivables of $2.18 billion and mortgage loans held for sale of $54.9 million. Deposits were $2.19 billion, and shareholders’ equity was $204.8 million. There were 11,923,798 common shares outstanding at quarter‑end and 11,929,048 as of August 6, 2026.

Asset quality reflected higher problem credits: nonaccrual loans and leases totaled $82.1 million, up from $55.1 million at December 31, 2025, concentrated in construction, commercial and small business loans, some backed by SBA guarantees. The allowance for credit losses was $21.5 million. The securities portfolio carried unrealized losses of $7.0 million on available‑for‑sale and $2.3 million on held‑to‑maturity securities, which management describes as primarily due to changes in market interest rates.

Meridian Corporation reported strong second quarter 2026 earnings, with net income of $5.8 million, or $0.48 diluted EPS, up from $2.0 million, or $0.17, in the prior quarter. The improvement reflected a $2.8 million increase in non-interest income, led by higher mortgage banking and SBA loan income, and a $4.5 million decline in the provision for credit losses. Pre-provision net revenue was $10.4 million, and key profitability metrics included a 0.90% return on average assets and 11.42% return on average equity, with a tax-equivalent net interest margin of 3.69%. Total assets were $2.6 billion, loans $2.18 billion, and deposits $2.19 billion as of June 30, 2026.

Asset quality showed mixed trends. Non-performing loans rose to 3.68% of total loans, driven by a small number of land development and commercial mortgage relationships, though management noted these are well collateralized. Net charge-offs declined to $2.6 million, or 0.12% of average loans, and the allowance for credit losses stood at 0.99% of loans. Capital remained solid, with a bank Tier 1 leverage ratio of 9.72% and a tangible common equity ratio at the holding company of 7.78%. The Board declared a $0.14 quarterly cash dividend per common share, payable August 17, 2026 to shareholders of record on August 10, 2026.

BlackRock, Inc. reported beneficial ownership of 630,139 shares of MERIDIAN CORP common stock, representing 5.3% of the class as of the reported date. BlackRock has sole voting power over 621,583 shares and sole dispositive power over 630,139 shares, with no shared voting or dispositive power.

The shares are held across certain BlackRock business units, and various underlying clients have the right to receive dividends or sale proceeds, although no single such person holds more than five percent of MERIDIAN CORP’s outstanding common shares.

Meridian Corporation reported a leadership change in its credit function. On July 21, 2026, Andy Fox, Senior Vice President and Chief Credit Officer, separated from the company to pursue other opportunities. The Chief Credit Officer role will be assumed by Geoff Sheehan, currently Senior Vice President, Credit Administration.

Meridian Corp director Kenneth Thomas Warriner reported two recent stock acquisitions. On the most recent date, he received a grant of 50 shares of common stock valued at $19.96 per share as restricted stock that will vest in full on the one-year anniversary of the grant.

Earlier, he made an open-market purchase of 1,000 shares of common stock at $18.00 per share. Following these transactions, he directly holds 3,050 shares of Meridian Corp common stock. The filing combines a compensation-related award with a personal share purchase.

Meridian Corp Chairman & CEO Christopher J. Annas reported an option-related share exercise and tax withholding. On June 8, 2026, he exercised 42,000 employee stock options at $7.62 per share, converting them into common stock. To satisfy the exercise price, 16,642 common shares were withheld by the company at a value of $19.23 per share, rather than sold on the open market. After these transactions, he directly holds 393,865 shares of Meridian Corp common stock.

Meridian Corporation reported the results of its Annual Meeting of Shareholders held on May 28, 2026. Shareholders elected three Class C directors, Christopher J. Annas, Edward J. Hollin, and Anthony M. Imbesi, each to serve a three-year term expiring in 2029.

Shareholders approved the non-binding say-on-pay proposal for named executive officer compensation, with 8,212,283 votes for, 145,547 against, and 6,203 abstentions. They also ratified the appointment of Crowe LLP as independent registered public accounting firm for the year ending December 31, 2026, with 9,570,770 votes for, 11,449 against, and 2,763 abstentions.

Meridian Corp director Anthony Mark Imbesi reported an open-market purchase of company stock. He bought 1,000 shares of common stock at a price of $17.381 per share, increasing his direct ownership to 386,156 shares following the transaction.