Meridian Corporation (MRBK) 10-Year Financial Performance & Capital Metrics

MRBK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutMeridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits. It also provides commercial and industrial loans comprising business lines of credit, term loans, small business lending, lease financing, and shared national credits; commercial real estate, and land development and construction loans for residential and commercial projects; and consumer and home equity lending, private banking, merchant, and title and land settlement services. In addition, the company operates and originates mortgage loans for 1-4 family dwellings; and offers real estate holding, investment advisory, and equipment leasing services. It operates through a network of 6 full-service branches, and 19 other offices. The company was founded in 2004 and is headquartered in Malvern, Pennsylvania.Show more

Net Interest Income $71M +3.0%
Total Revenue $197M +17.1%
Net Income $16M +23.4%
Return on Equity 9.92% +16.6%
Net Interest Margin 2.98% -3.0%
Efficiency Ratio 40.1% -12.4%
ROA 0.71% +14.8%
Equity / Assets 7.19% +2.2%
Book Value per Share 15.26 +9.9%
Tangible BV/Share 14.93 +10.3%
Debt/Equity 1.02 -16.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 40.1% efficiency ratio
✓Healthy dividend yield of 2.7%
✓Trading near 52-week high
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.13%

5Y18.14%

3Y7.36%

TTM-

Profit (Net Income) CAGR

10Y14.27%

5Y9.3%

3Y-22.84%

TTM78.97%

EPS CAGR

10Y5%

5Y12.08%

3Y-20.35%

TTM75.07%

ROCE

10Y Avg12.59%

5Y Avg12.52%

3Y Avg9.2%

Latest8.38%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	23.39M	25.79M	28.94M	32.66M	36.34M	49M	63.11M	70.13M	68.94M	71M
NII Growth %	-	0.1%	0.12%	0.13%	0.11%	0.35%	0.29%	0.11%	-0.02%	0.03%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	27.98M	30.98M	35.72M	44.06M	52.86M	62.66M	71.52M	88.72M	136.59M	156.03M
Interest Expense	4.59M	5.19M	6.78M	11.41M	16.53M	13.66M	8.41M	18.59M	67.65M	85.03M
Loan Loss Provision	1.43M	1.2M	2.16M	1.58M	901K	8.3M	1.07M	2.49M	6.82M	11.4M
Non-Interest Income+	30.51M	36.16M	32.67M	29.71M	32.89M	86.92M	87.99M	41.72M	31.96M	41.34M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	58.49M	67.14M	68.39M	73.78M	85.76M	149.57M	159.51M	130.44M	168.55M	197.37M
Revenue Growth %	0.32%	0.15%	0.02%	0.08%	0.16%	0.74%	0.07%	-0.18%	0.29%	0.17%
Non-Interest Expense	43.03M	53.23M	53.67M	50.3M	54.81M	93.08M	103.73M	81.44M	77.13M	79.15M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	9.44M	7.52M	5.79M	10.49M	13.51M	34.54M	46.3M	27.92M	16.97M	21.79M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.34%	-0.2%	-0.23%	0.81%	0.29%	1.56%	0.34%	-0.4%	-0.39%	0.28%
Pretax Income+	9.44M	7.52M	5.79M	10.49M	13.51M	34.54M	46.3M	27.92M	16.97M	21.79M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	3.25M	2.6M	2.75M	2.33M	3.03M	8.1M	10.72M	6.09M	3.72M	5.44M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	6.19M	4.92M	3.03M	8.16M	10.48M	26.44M	35.59M	21.83M	13.24M	16.35M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.44%	-0.2%	-0.38%	1.69%	0.28%	1.52%	0.35%	-0.39%	-0.39%	0.23%
Net Income (Continuing)	6.19M	4.92M	3.03M	8.16M	10.48M	26.44M	35.59M	21.83M	13.24M	16.35M
EPS (Diluted)+	1.08	0.80	0.25	0.64	0.82	2.14	2.87	1.79	1.16	1.45
EPS Growth %	0.21%	-0.26%	-0.69%	1.56%	0.28%	1.61%	0.34%	-0.38%	-0.35%	0.25%
EPS (Basic)	1.08	0.80	0.25	0.64	0.82	2.15	2.96	1.85	1.19	1.47
Diluted Shares Outstanding	4.71M	4.71M	7.54M	12.85M	12.88M	12.37M	12.41M	12.2M	11.39M	11.24M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	19.12M	18.48M	24.89M	23.16M	19.11M	34.19M	23.48M	38.39M	56.7M	27.46M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	617.48M	684.52M	775.06M	929.58M	1.06B	1.6B	1.53B	1.78B	1.96B	2.18B
Investments Growth %	-	0.11%	0.13%	0.2%	0.14%	0.51%	-0.04%	0.17%	0.1%	0.11%
Long-Term Investments	593.39M	651.5M	735.05M	877.16M	997.99M	1.47B	1.37B	1.65B	1.82B	2.1B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	899K	899K	899K	899K	899K	899K	899K	899K
Intangible Assets	0	0	4.6M	4.15M	3.87M	3.6M	3.38M	3.17M	2.97M	2.77M
PP&E (Net)	6.15M	8.72M	9.74M	9.64M	8.64M	7.78M	11.81M	13.35M	13.56M	12.15M
Other Assets	16.84M	17.11M	36.24M	24.1M	54.7M	40.89M	50.85M	73.11M	76.11M	73.39M
Total Current Assets	46.55M	55.1M	68.2M	79.8M	81.81M	194.27M	276.03M	318.49M	329.97M	189.14M
Total Non-Current Assets	616.79M	678.6M	787.84M	917.68M	1.07B	1.53B	1.44B	1.74B	1.92B	2.2B
Total Assets+	663.34M	733.69M	856.03M	997.48M	1.15B	1.72B	1.71B	2.06B	2.25B	2.39B
Asset Growth %	0.14%	0.11%	0.17%	0.17%	0.15%	0.5%	-0%	0.2%	0.09%	0.06%
Return on Assets (ROA)	0.01%	0.01%	0%	0.01%	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%
Accounts Payable	159K	194K	216K	305K	1.09M	1.15M	31K	2.39M	10.32M	6.86M
Total Debt+	114.87M	131.73M	121.92M	129.78M	167.76M	256.67M	81.85M	162.43M	191.73M	174.21M
Net Debt	95.75M	113.25M	97.03M	106.62M	148.66M	222.48M	58.37M	124.04M	135.03M	146.75M
Long-Term Debt	13.45M	13.38M	15.37M	10.48M	40.96M	40.67M	40.51M	40.35M	49.84M	49.74M
Short-Term Debt	101.42M	118.35M	106.55M	119.3M	126.8M	216M	41.34M	122.08M	141.9M	124.47M
Other Liabilities	4.83M	4.67M	5.43M	5.72M	9.31M	79.41M	19.79M	31.65M	62.65M	27.9M
Total Current Liabilities	592.15M	645.68M	733.88M	871.74M	979.05M	1.46B	1.49B	1.84B	1.98B	2.14B
Total Non-Current Liabilities	18.27M	18.05M	20.8M	16.19M	50.27M	120.08M	60.3M	72M	112.49M	77.65M
Total Liabilities	610.42M	663.73M	754.67M	887.93M	1.03B	1.58B	1.55B	1.91B	2.09B	2.21B
Total Equity+	52.92M	69.96M	101.36M	109.55M	120.69M	141.62M	165.36M	153.28M	158.02M	171.52M
Equity Growth %	0.17%	0.32%	0.45%	0.08%	0.1%	0.17%	0.17%	-0.07%	0.03%	0.09%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.13%	0.08%	0.04%	0.08%	0.09%	0.2%	0.23%	0.14%	0.09%	0.1%
Book Value per Share	11.25	14.87	13.44	8.52	9.37	11.45	13.32	12.56	13.88	15.26
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	2.6M	3.69M	6.39M	6.41M	6.41M	6.46M	6.54M	13.16M	13.19M	13.24M
Additional Paid-in Capital	24.4M	39.89M	79.5M	79.92M	80.2M	81.2M	83.66M	79.07M	80.33M	81.55M
Retained Earnings	13.15M	13.85M	15.77M	23.62M	34.1M	59.01M	84.92M	95.81M	101.22M	111.96M
Accumulated OCI	-80K	-308K	-298K	-390K	-3K	2.56M	708K	-11.54M	-9.42M	-8.14M
Treasury Stock	0	0	0	0	-3K	-5.83M	-8.86M	-21.82M	-26.08M	-26.08M
Preferred Stock	12.85M	12.85M	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-33.74M	52.13M	10.48M	11.03M	21.57M	-158.47M	165.12M	84.67M	18.85M	9.6M
Operating CF Growth %	-	2.55%	-0.8%	0.05%	0.96%	-8.35%	2.04%	-0.49%	-0.78%	-0.49%
Net Income	6.19M	4.92M	3.03M	8.16M	10.48M	26.44M	35.59M	21.83M	13.24M	16.35M
Depreciation & Amortization	815K	1.79M	963K	1.42M	867K	-2.07M	-4.81M	1.08M	2.48M	2.3M
Deferred Taxes	215K	-732K	-66K	-385K	-503K	1.25M	-768K	1.11M	-234K	-799K
Other Non-Cash Items	-37.79M	45.34M	6.83M	2.49M	7.27M	-202.62M	139.44M	61.62M	-479K	191K
Working Capital Changes	-3.2M	639K	-488K	-952K	3.18M	17.77M	-5.93M	-2.44M	2.67M	-9.42M
Cash from Investing+	-33.55M	-118.01M	-109.64M	-155.6M	-143.08M	-370.7M	-140.51M	-393.15M	-164.19M	-165M
Purchase of Investments	-23.53M	-16.23M	-12.6M	-17.09M	-44.68M	-114.49M	-74.34M	-37M	-33.21M	-66.76M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	-3.23M	0	0	0	0	0	0	0
Other Investing	-22.4M	-104.59M	-98.59M	-143.05M	-136.32M	-311.77M	-94.83M	-366.27M	-153.72M	-135.21M
Cash from Financing+	76.11M	65.6M	115.8M	133.02M	136.93M	526.54M	-37.87M	323.39M	163.64M	126.16M
Dividends Paid	-1.1M	-1.16M	-1.17M	0	0	-1.52M	-9.68M	-10.93M	-5.61M	-5.6M
Share Repurchases	0	0	0	0	-3K	-5.7M	-3.03M	-12.96M	-4.26M	0
Stock Issued	1.99M	13.13M	42.12M	140K	0	0	0	0	0	499K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	1000K	1000K	-1000K
Other Financing	28.39M	36.71M	99.98M	125.16M	98.1M	388.33M	206.18M	266.82M	111.29M	181.91M
Net Change in Cash+	8.83M	-286K	16.63M	-11.55M	15.42M	-2.63M	-13.26M	14.91M	18.31M	-29.23M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	10.33M	19.16M	18.87M	35.51M	23.95M	39.37M	36.74M	23.48M	38.39M	56.7M
Cash at End	19.16M	18.87M	35.51M	23.95M	39.37M	36.74M	23.48M	38.39M	56.7M	27.46M
Interest Paid	4.58M	5.16M	6.76M	11.32M	15.74M	13.59M	9.53M	16.23M	59.71M	88.5M
Income Taxes Paid	3.7M	2.72M	2.75M	2.73M	2.64M	5.29M	14.07M	5.37M	3.1M	3.08M
Free Cash Flow+	-35.06M	48.59M	8.07M	9.39M	20.82M	-159.21M	159.75M	81.76M	17.03M	9.03M
FCF Growth %	-	2.39%	-0.83%	0.16%	1.22%	-8.65%	2%	-0.49%	-0.79%	-0.47%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.63%	8.01%	3.54%	7.74%	9.1%	20.16%	23.18%	13.7%	8.51%	9.92%
Return on Assets (ROA)	0.99%	0.7%	0.38%	0.88%	0.98%	1.84%	2.07%	1.16%	0.61%	0.71%
Net Interest Margin	3.53%	3.51%	3.38%	3.27%	3.16%	2.85%	3.68%	3.4%	3.07%	2.98%
Efficiency Ratio	73.57%	79.28%	78.46%	68.18%	63.92%	62.23%	65.03%	62.44%	45.76%	40.1%
Equity / Assets	7.98%	9.54%	11.84%	10.98%	10.5%	8.23%	9.65%	7.43%	7.04%	7.19%
Book Value / Share	11.25	14.87	13.44	8.52	9.37	11.45	13.32	12.56	13.88	15.26
NII Growth	-	10.25%	12.21%	12.85%	11.27%	34.84%	28.81%	11.12%	-1.69%	2.98%
Dividend Payout	-	-	-	-	-	5.77%	27.2%	50.07%	42.39%	34.27%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Wealth	3.72M	3.53M	-	-	-	4.93M	5.73M
Wealth Growth	-	-4.98%	-	-	-	-	16.36%
Banking	200K	92K	-	-	-	-	1K
Banking Growth	-	-54.00%	-	-	-	-	-
Mortgage Banking	-	-	-	-	-	-	-
Mortgage Banking Growth	-	-	-	-	-	-	-
Investment Advice	-	-	-	-	4.73M	-	-
Investment Advice Growth	-	-	-	-	-	-	-
Deposit Account	-	-	-	-	125K	-	-
Deposit Account Growth	-	-	-	-	-	-	-
ATM/Debit Card Commissions and Title Fee Income	-	-	-	1.2M	-	-	-
ATM/Debit Card Commissions and Title Fee Income Growth	-	-	-	-	-	-	-
Service Charges	-	-	-	129K	-	-	-
Service Charges Growth	-	-	-	-	-	-	-
Atm Debit Card Commissions And Title Fee Income	-	-	925K	-	-	-	-
Atm Debit Card Commissions And Title Fee Income Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Meridian Corporation (MRBK) has a price-to-earnings (P/E) ratio of 12.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Meridian Corporation (MRBK) grew revenue by 17.1% over the past year. This is strong growth.

Yes, Meridian Corporation (MRBK) is profitable, generating $20.3M in net income for fiscal year 2024 (8.3% net margin).

Dividend & Returns

Yes, Meridian Corporation (MRBK) pays a dividend with a yield of 2.74%. This makes it attractive for income-focused investors.

Meridian Corporation (MRBK) has a return on equity (ROE) of 9.9%. This is below average, suggesting room for improvement.

Industry Metrics

Meridian Corporation (MRBK) has a net interest margin (NIM) of 3.0%. NIM has been under pressure due to interest rate environment.

Meridian Corporation (MRBK) has an efficiency ratio of 40.1%. This is excellent, indicating strong cost control.

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