Meridian Corp Q3 EPS $0.35 vs $0.41 Q2; NIM 3.29%, NPL ratio 1.53%

Meridian Corp

2023-Q3 EPS reported $1.11 revenue$3,689,000

Net income $4.0M, diluted EPS $0.35 vs Q2 $4.6M and $0.41; ROAA 0.73%, ROAE 10.17%
Net interest margin 3.29%, down 4 bps QoQ; loan yield 7.08%
Total loans +$25.3M (1.4%) and deposits +$26.0M (1.5%) sequentially
Non-performing loans to total loans 1.53% vs 1.44% prior; net charge-offs 0.05%
Quarterly dividend $0.125/share, payable Nov 20; raised $9.7M sub-debt at 8%

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 0.9

Meridian Corp reported Third Quarter 2023 results: net income Net income of $4.0 million and diluted earnings of $0.35 per share for the third quarter ended September 30, 2023., EPS diluted earnings of $0.35 per share.

Period: Third Quarter 2023
Net income: Net income of $4.0 million and diluted earnings of $0.35 per share for the third quarter ended September 30, 2023.
EPS: diluted earnings of $0.35 per share
Result: reported results

Exact text from the filing

Meridian Corporation Reports Third Quarter 2023 Results and Announces a Quarterly Dividend of $0.125 per Common Share. MALVERN, PA., October 27, 2023 — Meridian Corporation (Nasdaq: MRBK) today reported: • Net income of $4.0 million and diluted earnings of $0.35 per share for the third quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001750735-23-000081

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