Meridian Q3 net income $9.4M ($1.52 diluted EPS); dividend raised to $0.20

Meridian Corp

2021-Q3 EPS reported $4.49

Net income $9.4M ($1.52 diluted EPS) vs $8.3M ($1.33) in Q2 2021 and $9.2M ($1.51) in Q3 2020.
Revenue of $40.4M; net interest margin 3.83%, ROE 24.07%, ROA 2.15%.
Cash dividend increased to $0.20 per share, payable Nov 22, 2021 to holders of record Nov 15.
Repurchased 78,491 shares at avg $27.41 during Q3; loan portfolio grew 21% annualized (ex-PPP and mortgages).
Mortgage originations $522.9M in Q3, down 14.9% QoQ; refinance activity fell to 36% of originations.

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