Meridian Corp Q1 net income $4.0M ($0.34 EPS), NIM 3.61%, loans up 4.7%

Meridian Corp

2023-Q1 EPS reported $0.34 revenue$1,196,000

Net income $4.0M ($0.34 diluted EPS) vs $4.6M ($0.39) in Q4 2022 and $5.5M ($0.44) a year ago.
Net interest margin 3.61%, down 32 bps from Q4 2022 (3.93%) on higher deposit costs.
Loans grew $80.8M (4.7% QoQ); deposits up $57.9M (3.4%), but non-interest bearing deposits fell $39.1M.
Non-performing loans ratio 1.25% vs 1.20% in Q4; net charge-offs $1.5M largely small equipment leases.
CECL adoption reduced retained earnings by $2.2M after-tax; quarterly dividend $0.125/share payable May 22.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Meridian Corp reported first quarter ended March 31, 2023 results: revenue $37.6 million, net income $4.0 million, EPS $0.34.

Period: first quarter ended March 31, 2023
Revenue: $37.6 million
Net income: $4.0 million
EPS: $0.34
Result: reported results

Exact text from the filing

$0.125 per common share, payable May 22, 2023 to shareholders of record as of May 15, 2023. Christopher J. Annas, Chairman and CEO commented “Meridian’s first quarter revenue of $37.6 million generated earnings of $4.0 million, or $0.34 per diluted share. The bank segment had strong performance with loan growth of 4.3% for the quarter while achieving net interest

View on SEC.gov

Browse all earnings releases →

Meridian Corp filing history →

Source: SEC EDGAR

accession 0001750735-23-000038

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.