Meridian Corporation (MRBK) Financial Statements (2024 and earlier)

Company Profile

Business Address 9 OLD LINCOLN HIGHWAY
MALVERN, PA 19355
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments48,963110,61340,47734,98039,24658,262
Cash and cash equivalents46,866108,50338,39132,88837,09356,022
Short-term investments2,0972,1102,0862,0922,1532,240
Total current assets:48,963110,61340,47734,98039,24658,262
Noncurrent Assets
Operating lease, right-of-use asset   9,0009,50010,00010,500
Property, plant and equipment13,23413,28113,34912,83512,18511,883
Intangible assets, net (including goodwill)3,9724,0234,0744,1254,1764,227
Goodwill899899899899899899
Intangible assets, net (excluding goodwill)3,0733,1243,1753,2263,2773,328
Deferred income tax assets4,2584,0173,9365,7224,4673,190
Total noncurrent assets:21,46421,32130,35932,18230,82829,800
Other undisclosed assets2,136,4502,097,8491,991,3921,854,7621,782,9451,743,527
TOTAL ASSETS:2,206,8772,229,7832,062,2281,921,9241,853,0191,831,589
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt182,269221,515113,14723,45859,13636,136
Total current liabilities:182,269221,515113,14723,45859,13636,136
Noncurrent Liabilities
Other undisclosed liabilities1,870,6461,855,2191,795,8011,747,3051,637,7961,637,769
Total liabilities:2,052,9152,076,7341,908,9481,770,7631,696,9321,673,905
Equity
Equity, attributable to parent153,962153,049153,280151,161156,087157,684
Common stock13,18113,18013,1566,5666,5616,556
Treasury stock, value(26,079)(24,512)(21,821)(18,033)(11,896)(8,860)
Additional paid in capital79,65079,47379,07284,84884,35984,177
Accumulated other comprehensive loss(10,821)(9,869)(11,539)(13,023)(9,150)(5,691)
Retained earnings99,43496,18095,81592,40587,81583,104
Unearned esop shares(1,403)(1,403)(1,403)(1,602)(1,602)(1,602)
Total equity:153,962153,049153,280151,161156,087157,684
TOTAL LIABILITIES AND EQUITY:2,206,8772,229,7832,062,2281,921,9241,853,0191,831,589

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues33,50330,73028,13223,26421,70020,778
Net investment income33,55830,73027,63422,86519,98517,951
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(705)(1,399)885 (602)(615)
Gross profit:32,79829,33129,01723,26421,09820,163
Operating expenses(3,235)(2,928)(3,190)(3,255)(3,278)(3,086)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,1321,1831,4321,2191,1281,258
Operating income:30,69527,58627,25921,22818,94818,335
Nonoperating income
(Bank Owned Life Insurance Income)
193192140138137138
Interest and debt expense(16,738)(13,270)(9,245)(4,932)(2,486)(1,929)
Income from continuing operations before equity method investments, income taxes:14,15014,50818,15416,43416,59916,544
Other undisclosed loss from continuing operations before income taxes(8,248)(9,381)(12,429)(8,971)(8,953)(9,455)
Income from continuing operations before income taxes:5,9025,1275,7257,4637,6467,089
Income tax expense(1,257)(1,106)(1,164)(1,665)(1,708)(1,554)
Income from continuing operations:4,6454,0214,5615,7985,9385,535
Income before gain (loss) on sale of properties:5,7985,9385,535
Net income available to common stockholders, diluted:4,6454,0214,5615,7985,9385,535

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:4,6454,0214,5615,7985,9385,535
Other comprehensive income (loss)353(460)(637)1,1211,0181,936
Comprehensive income:4,9983,5613,9246,9196,9567,471
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,305)2,1302,121(4,994)(4,477)(8,335)
Comprehensive income (loss), net of tax, attributable to parent:3,6935,6916,0451,9252,479(864)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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