Meridian Corp Q2 net income $4.6M ($0.41 EPS); revenue $43M; margin 3.33%

Meridian Corp

2023-Q2 EPS reported $0.75 revenue$2,431,000

Net income $4.6M, diluted EPS $0.41 vs $5.9M, $0.48 in Q2 2022 (down 22% YoY).
Net interest margin 3.33%, down 28 bps from Q1 2023; loan yield 6.89%.
Commercial loan growth $27.4M (7.2% annualized); total deposit growth $12.2M (2.8% annualized).
Non-performing loans ratio rose to 1.44% from 1.25% in Q1 2023; net charge-offs 0.05% of avg loans.
Board declared $0.125 quarterly dividend payable Aug 21; repurchased 127,849 shares at avg $12.21 in Q2.

item 2.02 item 7.01 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 0.97

Meridian Corp reported the second quarter ended June 30, 2023 results: revenue $43.0 million, net income $4.6 million, EPS $0.41 per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $43.0 million
Net income: $4.6 million
EPS: $0.41 per diluted share
Result: reported results

Exact text from the filing

per common share, payable August 21, 2023 to shareholders of record as of August 14, 2023. Christopher J. Annas, Chairman and CEO commented “Meridian’s second quarter revenue of $43.0 million generated earnings of $4.6 million, or $0.41 per diluted share. Annual loan growth in the core CRE, C&I and SBA portfolios are expected to again approach 15%. These groups also

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Source: SEC EDGAR

accession 0001750735-23-000066

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