Meridian Corp reports Q4 2021 net income $7.7M; EPS $1.24; declares special $1.00 dividend

Meridian Corp

2021-FY EPS reported $5.73

Net income $7.7M ($1.24 diluted EPS) vs $9.4M ($1.52) in Q3; total revenues $35.3M.
ROA 1.74%, ROE 19.15%; seventh consecutive quarter with ROA >1.50% and ROE >19%.
Loans (ex-PPP and held-for-sale) grew 2.8% QoQ and 19.5% YoY.
Declared $1.00 special dividend payable Feb 21, 2022; also $0.20 quarterly dividend.
Nonaccrual loans rose to 1.57% from 0.61% Q3; COVID deferrals fell to $2.4M from $24.9M.

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