secwatch.observer — SEC 8-K summary
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Issuer:     Meridian Corp (MRBK)
CIK:        0001750735
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001750735-23-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1750735/000175073523000038/0001750735-23-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1750735/000175073523000038/mrbk-20230502.htm
  HTML page:      https://secwatch.observer/filing/0001750735-23-000038

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