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Complete financial analysis of Meridian Corporation (MRBK) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Meridian Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.
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Meridian Corporation (MRBK)
About Meridian Corporation
Meridian 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.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 94.09M | 111.85M | 151.10M | 134.09M | 66.86M | 62.37M | 61.61M | 61.95M | 53.90M | 44.26M | 40.54M | 32.19M |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 94.09M | 111.85M | 151.10M | 134.09M | 66.86M | 62.37M | 61.61M | 61.95M | 53.90M | 44.26M | 40.54M | 32.19M |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 50.31M | 54.38M | 78.87M | 72.15M | 35.83M | 35.35M | 39.85M | 41.48M | 33.92M | 2.29M | 0.00 | 0.00 |
| Selling & Marketing | 3.73M | 4.34M | 3.71M | 2.85M | 2.48M | 2.36M | 2.25M | 1.73M | 1.48M | 1.87M | 0.00 | 0.00 |
| SG&A | 54.04M | 58.71M | 82.58M | 75.00M | 38.31M | 37.70M | 42.10M | 43.20M | 35.40M | 29.92M | 0.00 | 0.00 |
| Other Expenses | 12.64M | -21.44M | -187.38M | -174.55M | -91.65M | -80.88M | -91.14M | -92.44M | -75.28M | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 66.68M | 7.97M | -104.80M | -99.55M | -53.34M | -40.47M | -49.05M | -49.23M | -39.88M | 37.68M | 34.67M | 26.25M |
| Cost & Expenses | 66.68M | 7.97M | -104.80M | -99.55M | -53.34M | -40.47M | -49.05M | -49.23M | -39.88M | 37.68M | 34.67M | 26.25M |
| Interest Income | 136.59M | 88.72M | 71.52M | 62.66M | 52.86M | 44.06M | 35.72M | 30.98M | 27.98M | 0.00 | 0.00 | 0.00 |
| Interest Expense | 67.65M | 18.59M | 8.41M | 13.66M | 16.53M | 11.41M | 6.78M | 5.19M | 4.59M | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 2.48M | 1.41M | 6.37M | 2.89M | 1.69M | 1.42M | 963.00K | 1.79M | 815.00K | -6.58M | -5.87M | -5.94M |
| EBITDA | 0.00 | 0.00 | 0.00 | 0.00 | 14.38M | 11.91M | 6.75M | 0.00 | 0.00 | 22.09M | 75.20M | -1.00 |
| EBITDA Ratio | 0.00% | 41.58% | 27.46% | 24.21% | 22.73% | 37.39% | 21.96% | 23.41% | 27.53% | 0.00% | 0.00% | 0.00% |
| Operating Income | 27.42M | 45.44M | 46.30M | 34.54M | 13.51M | 21.90M | 12.57M | 12.71M | 14.03M | 6.58M | 5.87M | 5.94M |
| Operating Income Ratio | 29.14% | 40.62% | 30.64% | 25.76% | 20.21% | 35.11% | 20.40% | 20.52% | 26.02% | 14.86% | 14.48% | 18.46% |
| Total Other Income/Expenses | -10.45M | 0.00 | -3.60M | -7.22M | 0.00 | 0.00 | -7.33M | 41.43M | 33.67M | -7.76M | -34.67M | 0.00 |
| Income Before Tax | 16.97M | 27.92M | 46.30M | 34.54M | 13.51M | 10.49M | 5.79M | 7.52M | 9.44M | 6.58M | 5.87M | 5.94M |
| Income Before Tax Ratio | 18.03% | 24.96% | 30.64% | 25.76% | 20.21% | 16.82% | 9.39% | 12.14% | 17.51% | 14.86% | 14.48% | 18.46% |
| Income Tax Expense | 3.72M | 6.09M | 10.72M | 8.10M | 3.03M | 2.33M | 2.75M | 2.60M | 3.25M | 2.27M | 2.00M | 1.90M |
| Net Income | 13.24M | 21.83M | 35.59M | 26.44M | 10.48M | 8.16M | 3.03M | 4.92M | 6.19M | 4.31M | 3.87M | 4.04M |
| Net Income Ratio | 14.07% | 19.52% | 23.55% | 19.72% | 15.68% | 13.09% | 4.92% | 7.95% | 11.48% | 9.73% | 9.54% | 12.55% |
| EPS | 1.19 | 1.85 | 2.90 | 2.15 | 0.82 | 0.64 | 0.25 | 0.80 | 1.08 | 0.00 | 0.78 | 0.94 |
| EPS Diluted | 1.16 | 1.79 | 2.87 | 2.14 | 0.81 | 0.64 | 0.25 | 0.80 | 1.08 | 0.00 | 0.78 | 0.94 |
| Weighted Avg Shares Out | 11.12M | 11.79M | 12.27M | 12.32M | 12.81M | 12.79M | 7.49M | 4.71M | 4.71M | 0.00 | 4.99M | 4.29M |
| Weighted Avg Shares Out (Dil) | 11.39M | 12.20M | 12.41M | 12.37M | 12.88M | 12.85M | 7.54M | 4.71M | 4.71M | 0.00 | 4.99M | 4.29M |
Meridian Corporation: Rate Cuts To Boost Mortgage Banking Income
The biggest earnings catalyst is interest rate cuts, which will provide a much-needed boost to MRBK's mortgage banking business. The net interest income will also grow because rate cuts and a conducive economic environment will drive loan growth. The December...
Meridian Capital Group Scheduled to Re-enter Freddie Mac Loan Market January 1
NEW YORK--(BUSINESS WIRE)--Meridian Capital Group, one of the nation's leading commercial real estate finance, investment sales and retail leasing advisors, announced today that Freddie Mac lenders may resume requesting quotes for Meridian-brokered loans beginning on January 1, 2025. “We are...
Freddie Mac to End Blacklist of Real-Estate Broker Meridian
Meridian Capital Group will resume business with Freddie in January, more than a year after it was banned in response to allegations that some of its brokers falsified client financials to get bigger loans.
Ambetter from Meridian Expands Health Insurance Offering to 34 Counties Across Michigan
Michigan residents will have access to a variety of affordable plans from Ambetter from Meridian during open enrollment beginning Nov. 1 DETROIT , Oct. 2, 2024 /PRNewswire/ -- Ambetter from Meridian , a product offered by a Centene Corporation (NYSE: CNC) company, which...
Meridian Reports High-Grade Assay Results & New Geophysical Targets at Santa Helena
CD-574 returns high-grade core of 5.5m @ 9.0g/t AuEq / 6.0% CuEq from 60.1m; contained within wider intersection of 15.9m @ 3.9g/t AuEq / 2.6% CuEq from 58.2m LONDON, UK / ACCESSWIRE / September 23, 2024 / Meridian Mining UK....
Meridian Partners with Mae to Improve Maternal Outcomes and Reduce Disparities Across Michigan
Partnership aims to improve access to doula care and address the cultural needs of Medicaid members during pregnancy and postpartum DETROIT , Sept. 19, 2024 /PRNewswire/ -- Meridian, a leading managed care organization in the state of Michigan and a Centene Corporation company...
Meridian Reports Further Broad Shallow Zones of Mineralization at Cabaçal Including CD-535 - 21.6m @ 3.1g/t AuEq / 2.1% CuEq from 85m
Multiple targets for Cabaçal-type Cu-Au repeats identified along the 10km Mine Corridor LONDON, UK / ACCESSWIRE / September 4, 2024 / Meridian Mining UK S (TSX:MNO)(Frankfurt/Tradegate:2MM)(OTCQX:MRRDF) ("Meridian" or the "Company") is pleased to announce further strong results from its Cabaçal...
Meridian Bank (MRBK) Q2 Earnings Lag Estimates
Meridian Bank (MRBK) came out with quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.41 per share a year ago.
Meridian Corporation Reports Second Quarter 2024 Results and Announces a Quarterly Dividend of $0.125 per Common Share
MALVERN, Pa., July 26, 2024 (GLOBE NEWSWIRE) -- Meridian Corporation (Nasdaq: MRBK) today reported: Three Months Ended (Dollars in thousands, except per share data)((Unaudited) June 30, 2024 March 31, 2024 June 30, 2023 Income: ...
Meridian Reports Multiple Zones of Mineralization Including 13.4m @ 4.6g/t AuEq at Cabaçal
Commencement of Cabaçal mine-corridor exploration program to test multiple Cu-Au targets LONDON, UK / ACCESSWIRE / July 22, 2024 / Meridian Mining UK. S (TSX:MNO)(Frankfurt/Tradegate:2MM)(OTCQX:MRRDF) ("Meridian" or the "Company") is pleased to announce further intersections of strong Au-Cu-Ag mineralization from...
Source: https://incomestatements.info
Category: Stock Reports