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Meridian Corporation operates as the bank holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Maryland, and Florida. It provides various deposit products, such as demand non-interest and interest bearing, savings, and money market accounts, as well as time deposits. The company also offers commercial and industrial loans, including business lines of credit, term loans, small business lending, lease financing, shared national credits, and other financing; 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 insurance and land settlement services. In addition, it operates and originates mortgage loans for 1-4 family dwellings; and offers real estate holding, investment advisory, and equipment leasing services, as well as provides financial planning and wealth management services. The company was founded in 2004 and is headquartered in Malvern, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $127M | - | $22M | $23M | 10.9% | 12.9% | 33.6% |
| 2024 | $112M | - | $16M | $9M | 9.5% | 11.3% | 23.4% |
| 2023 | $101M | - | $13M | $17M | 8.4% | -9.8% | -39.3% |
| 2022 | $112M | - | $22M | $82M | 14.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 111.85 | 100.91 | 112.34 | 126.86 |
| Operating Revenue | - | 111.85 | 100.91 | 112.34 | 126.86 |
| Selling General And Administration | - | 59.96 | 51.11 | 50.56 | 55.16 |
| Interest Income | - | 88.72 | 136.59 | 156.03 | 166.31 |
| Interest Expense | - | 18.59 | 67.65 | 85.03 | 78.64 |
| Net Interest Income | - | 70.13 | 68.94 | 71 | 87.68 |
| Pretax Income | - | 27.92 | 16.97 | 21.79 | 28.40 |
| Tax Provision | - | 6.09 | 3.72 | 5.44 | 6.57 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 1 | 0.09 |
| Net Income Continuous Operations | - | 21.83 | 13.24 | 16.35 | 21.84 |
| Net Income From Continuing And Discontinued Operation | - | 21.83 | 13.24 | 16.35 | 21.84 |
| Net Income From Continuing Operation Net Minority Interest | - | 21.83 | 13.24 | 16.35 | 21.84 |
| Net Income | - | 21.83 | 13.24 | 16.35 | 21.84 |
| Net Income Common Stockholders | - | 21.83 | 13.24 | 16.35 | 21.84 |
| Net Income Including Noncontrolling Interests | - | 21.83 | 13.24 | 16.35 | 21.84 |
| Normalized Income | - | 21.83 | 13.24 | 13.35 | 21.53 |
| Diluted NI Availto Com Stockholders | - | 21.83 | 13.24 | 16.35 | 21.84 |
| Basic Average Shares | - | 11.79 | 11.12 | 11.11 | 11.33 |
| Diluted Average Shares | - | 12.20 | 11.39 | 11.24 | 11.54 |
| Reconciled Depreciation | - | 1.08 | 2.48 | 2.30 | -0.82 |
| Total Unusual Items | - | - | 0 | 3.99 | 0.40 |
| Total Unusual Items Excluding Goodwill | - | - | 0 | 3.99 | 0.40 |
| Special Income Charges | - | - | 0 | 3.99 | - |
| Other Special Charges | - | - | - | -3.99 | - |
| Gain On Sale Of Security | - | 4.74 | 0.06 | -0.11 | 0.72 |
| General And Administrative Expense | - | 55.62 | 47.38 | 47.27 | 51.28 |
| Other Gand A | 4.38 | - | - | - | - |
| Salaries And Wages | - | 54.38 | 47.38 | 47.27 | 51.28 |
| Insurance And Claims | - | 1.25 | 2.93 | - | - |
| Selling And Marketing Expense | - | 4.34 | 3.73 | 3.29 | 3.88 |
| Occupancy And Equipment | - | 4.84 | 4.84 | 5.98 | 4.58 |
| Professional Expense And Contract Services Expense | - | 3.64 | 4.31 | 4.77 | 4.10 |
| Other Non Interest Expense | - | 13.01 | 16.86 | 17.84 | 19.48 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Meridian Corporationthis co. | MRBK | $220M | 10.09↓ discount | 1.10 | 10.9% | - |
| Virginia National Bankshares Corporation | VABK | $229M | 11.89 | 1.24 | 10.5% | - |
| Ohio Valley Banc Corp. | OVBC | $227M | 14.56 | 1.33 | 9.2% | - |
| FB Bancorp, Inc. | FBLA | $225M | 179.93 | 0.72 | 0.4% | - |
| Peoples Bancorp of North Carolina, Inc. | PEBK |
| - |
| - |
| - |
| - |
| - |
| $223M |
| 11.26 |
| 1.42 |
| 12.6% |
| - |
| National Bankshares, Inc. | NKSH | $222M | 14.04 | 1.20 | 8.6% | - |
| Eagle Financial Services, Inc. | EFSI | $221M | 26.88 | 1.17 | 4.3% | - |
| Oportun Financial Corporation | OPRT | $220M | 8.73 | 0.57 | 6.5% | - |
| Kingstone Companies, Inc. | KINS | $219M | 5.38 | 1.79 | 33.2% | - |
| Peer Median | - | 12.97 | 1.22 | 8.9% | - | |