Meridian Corp MRBK
The Corporation is a bank holding company engaged in banking activities through its wholly-owned subsidiary, Meridian Bank (the "Bank"), a full-service, state-chartered commercial bank with offices in the Delaware Valley tri-state market, which includes Pennsylvania, New Jersey and Delaware, as well as in the Central Maryland market, and southwest Florida. We have a financial services business model with non-interest revenue streams from mortgage banking, the sale of SBA loan guarantees and wealth management services. We provide services to small and middle market businesses, professionals and retail customers throughout our market area. We have a modern, progressive, consultative approach to creating innovative solutions for our customers. We are technology driven, with a culture that incorporates significant use of customer preferred alternative delivery channels, such as mobile banking, remote deposit capture and bank-to-bank ACH. Our ‘Meridian everywhere' philosophy of community presence, along with our strategic business footprint, allows us to provide the high degree of service, convenience and products our customers need to achieve their financial objectives. We provide this service through three principal business line distribution channels, described further below.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.3M | $5.7M | $4.9M | $4.7M | $71.5M | $62.7M | $52.9M | $44.1M | $35.7M | — |
| Interest expense | $87.7M | $71.0M | $68.9M | $18.6M | $8.4M | $13.7M | $16.5M | $11.4M | $6.8M | — |
| Pre-tax income | $28.4M | $21.8M | $17.0M | $27.9M | $46.3M | $34.5M | $13.5M | $10.5M | $5.8M | — |
| Income tax | $6.6M | $5.4M | $3.7M | $6.1M | $10.7M | $8.1M | $3.0M | $2.3M | $2.8M | — |
| Net income | $21.8M | $16.3M | $13.2M | $21.8M | $35.6M | $26.4M | $10.5M | $8.2M | $3.0M | — |
| EPS, basic | 1.93 | 1.47 | 1.19 | 1.85 | 2.96 | 4.32 | 1.64 | 1.28 | 0.50 | — |
| EPS, diluted | 1.89 | 1.45 | 1.16 | 1.79 | 2.87 | 4.27 | 1.63 | 1.27 | 0.49 | — |
| Shares, diluted (wtd. avg.) | $11.5M | $11.2M | $11.4M | $12.2M | $12.4M | $6.2M | $6.4M | $6.4M | $3.8K | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.4M | $5.6M | $56.7M | $38.4M | $23.5M | $36.7M | $39.4M | $24.0M | $35.5M | $18.9M |
| Property, plant and equipment | $12.4M | $12.2M | $13.6M | $13.3M | $11.8M | $7.8M | $8.6M | $9.6M | $9.7M | — |
| Goodwill | $899.0K | $899.0K | $899.0K | $899.0K | $899.0K | $899.0K | $899.0K | $899.0K | — | — |
| Other intangibles | $2.6M | $2.8M | $3.0M | $3.2M | $3.4M | $3.6M | $3.9M | $4.1M | — | — |
| Total assets | $2.56B | $2.39B | $2.25B | $2.06B | $1.71B | $1.72B | $1.15B | $997.5M | $856.0M | — |
| Short-term debt | $106.7M | $98.6M | $141.2M | $113.1M | $41.3M | $106.9M | $123.7M | $114.3M | $99.8M | — |
| Long-term debt | — | — | — | $8.9M | $0 | — | — | $6.2M | $8.9M | — |
| Total liabilities | $2.36B | $2.21B | $2.09B | $1.91B | $1.55B | $1.58B | $1.03B | $887.9M | $754.7M | — |
| Retained earnings | $128.1M | $112.0M | $101.2M | $95.8M | $84.9M | $59.0M | $34.1M | $23.6M | $15.5M | — |
| Total equity | $199.7M | $171.5M | $158.0M | $153.3M | $165.4M | $141.6M | $120.7M | $109.6M | $101.0M | $70.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $24.3M | $9.6M | $18.9M | $84.7M | $165.1M | -$158.5M | $21.6M | $11.0M | $10.5M | — |
| Depreciation and amortisation | $1.4M | $2.0M | $1.6M | $1.4M | $1.3M | $1.6M | $1.7M | $1.4M | $963.0K | — |
| Stock-based compensation | $1.2M | $976.0K | $1.2M | $1.5M | $1.6M | $763.0K | $272.0K | — | — | — |
| Capital expenditure | $1.7M | $568.0K | $1.8M | $2.9M | $5.4M | $747.0K | $746.0K | $1.6M | $2.4M | — |
| Investing cash flow | -$163.9M | -$165.0M | -$164.2M | -$393.1M | -$140.5M | -$370.7M | -$143.1M | -$155.6M | -$109.6M | — |
| Financing cash flow | $147.9M | $126.2M | $163.6M | $323.4M | -$37.9M | $526.5M | $136.9M | $133.0M | $115.8M | — |
| Dividends paid | $5.7M | $5.6M | $5.6M | $10.9M | $9.7M | $1.5M | — | — | — | — |
| Buybacks | — | $0 | $4.3M | $13.0M | $3.0M | $5.7M | $3.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001750735-26-000027.
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