Meridian Corporation Reports Third Quarter 2026 Results and Announces a Quarterly Dividend of $0.14 per Common Share
Key Highlights
- ➤Meridian (MRBK) Q3 net income $5.2 million, down 10.3% sequentially
- ➤Net interest margin 3.77%, up eight basis points quarter-over-quarter
- ➤Non-performing loans fell $3.8 million to $78.3 million
- ➤Wealth management income $1.9 million, up 10.0% sequentially
- ➤Board declared quarterly dividend of $0.14 per common share
Expert Statements
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“The Meridian team delivered a solid third quarter and strong net interest margin.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“Loan balances are generally flat nine months to date, but we actually booked $363 million over the period in lines of credit and term loans.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“Balances have been impacted partly by strategic paydowns in leasing and SBA, which totaled $43 million for the nine months, as well as competition from PE firms.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“The wealth group grew quarterly pre-tax income by 35% over the third quarter of 2025 due to higher AUM, better efficiencies, and a good referral pipeline from our commercial group.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“Our mortgage group had a down third quarter, which is historically the most productive, as closed loans declined 27% from the prior quarter.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“Low housing inventory is dogging the industry with higher rates having a lesser impact.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“Mortgage’s quarterly pre-tax loss of $1.6 million included a non-operating $955 thousand loss on a small portfolio of mortgage loans that are fair-valued quarterly.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“We continue to make mortgage cost adjustments to align with volume.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“We remain intensely focused on resolving non-performing loans without incurring elevated charge-offs.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“We had improvements in the third quarter, but this takes time and should result in stronger recoveries.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“We have strengthened our treasury and payments teams with experienced industry professionals in a concentrated effort to improve our deposit franchise and expect this to yield good results in 2027.”
Christopher J. Annas, Chairman and CEO of Meridian Corporation
“Our ROA and ROE ratios remain strong despite some headwinds, and we look forward to improvement in the coming year.”
MALVERN, Pa., Oct. 30, 2026 (GLOBE NEWSWIRE) -- Meridian Corporation (Nasdaq: MRBK) today reported:
Three Months Ended (Dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 (Unaudited) Income: Net income $ 5,207 $ 5,807 $ 6,659 Diluted earnings per common share 0.43 0.48 0.58 * Net income for the quarter ended September 30, 2026 was $5.2 million, or $0.43 per diluted share, a decrease of $600 thousand, or 10.3%, from the prior quarter.
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