Meridian Corporation (MRBK) Financial Statements (2025 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)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments26,14625,11958,81861,77848,963110,613
Cash and cash equivalents24,05823,02756,69759,75946,866108,503
Short-term investments2,0882,0922,1212,0192,0972,110
Total current assets:26,14625,11958,81861,77848,963110,613
Noncurrent Assets
Operating lease, right-of-use asset   9,400   
Property, plant and equipment13,11413,45113,55713,31013,23413,281
Intangible assets, net (including goodwill)3,7683,8193,8703,9213,9724,023
Goodwill899899899899899899
Intangible assets, net (excluding goodwill)2,8692,9202,9713,0223,0733,124
Deferred income tax assets3,9504,3394,2014,9934,2584,017
Total noncurrent assets:20,83221,60931,02822,22421,46421,321
Other undisclosed assets2,304,6062,246,1952,156,3472,146,9692,136,4502,097,849
TOTAL ASSETS:2,351,5842,292,9232,246,1932,230,9712,206,8772,229,783
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt142,994112,131141,224150,348182,269221,515
Total current liabilities:142,994112,131141,224150,348182,269221,515
Noncurrent Liabilities
Other undisclosed liabilities2,046,2082,020,8561,946,9471,925,5091,870,6461,855,219
Total liabilities:2,189,2022,132,9872,088,1712,075,8572,052,9152,076,734
Equity
Equity, attributable to parent, including:162,382159,936158,022155,114153,962153,049
Common stock  13,18913,18613,18113,18113,180
Treasury stock, value(26,079)(26,079)(26,079)(26,079)(26,079)(24,512)
Additional paid in capital80,63980,48780,32579,73179,65079,473
Accumulated other comprehensive loss(8,588)(8,949)(9,422)(12,359)(10,821)(9,869)
Retained earnings104,420102,492101,216102,04399,43496,180
Unearned esop shares(1,204)(1,204)(1,204)(1,403)(1,403)(1,403)
Other undisclosed equity, attributable to parent13,194     
Total equity:162,382159,936158,022155,114153,962153,049
TOTAL LIABILITIES AND EQUITY:2,351,5842,292,9232,246,1932,230,9712,206,8772,229,783

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

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Revenues38,07136,89635,88935,29333,50330,730
Net investment income38,13436,915 35,21433,55830,730
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(2,680)(2,866)(4,629)(82)(705)(1,399)
Gross profit:35,39134,03031,26035,21132,79829,331
Operating expenses(3,248)(3,479)(3,545)(3,178)(3,235)(2,928)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,2931,9611,5121,1031,1321,183
Operating income:33,43632,51229,22733,13630,69527,586
Nonoperating income
(Bank Owned Life Insurance Income)
215207204201193192
Interest and debt expense  (20,606)(19,404)(18,235)(16,738)(13,270)
Income from continuing operations before equity method investments, income taxes:33,65112,11310,02715,10214,15014,508
Other undisclosed loss from continuing operations before income taxes(29,259)(8,560)(9,301)(9,892)(8,248)(9,381)
Income from continuing operations before income taxes:4,3923,5537265,2105,9025,127
Income tax expense(1,066)(877)(156)(1,205)(1,257)(1,106)
Net income available to common stockholders, diluted:3,3262,6765704,0054,6454,021

Comprehensive Income ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Net income:3,3262,6765704,0054,6454,021
Other comprehensive income (loss)(60)90(1,171)566353(460)
Comprehensive income (loss):3,2662,766(601)4,5714,9983,561
Other undisclosed comprehensive income (loss), net of tax, attributable to parent4213834,108(2,104)(1,305)2,130
Comprehensive income, net of tax, attributable to parent:3,6873,1493,5072,4673,6935,691

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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