Meridian Corp Q1 net income $2.7M ($0.24 EPS) vs $0.6M in Q4; NIM 3.09%

Meridian Corp

2024-Q1 EPS reported $0.24 revenue$1,317,000

Net income $2.676M ($0.24 diluted EPS) vs $571K ($0.05) in Q4 2023 and $4.021M ($0.34) in Q1 2023.
Net interest margin contracted to 3.09% from prior quarter; loan yield 7.24%.
Total loans grew 3.3% QoQ to $1.96B; commercial loans up 5%.
Non-performing loans ratio increased to 1.93% vs 1.76% in Q4.
Board declared quarterly dividend of $0.125/share payable May 20.

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 First Quarter 2024 results: net income $ 2,676, EPS $ 0.24.

Period: First Quarter 2024
Net income: $ 2,676
EPS: $ 0.24
Result: reported results

Exact text from the filing

Meridian Corporation Reports First Quarter 2024 Results and Announces a Quarterly Dividend of $0.125 per Common Share. MALVERN, PA., April 26, 2024 — Meridian Corporation (Nasdaq: MRBK) today reported: Three Months Ended (Dollars in thousands, except per share data)((Unaudited) March 31, 2024 December 31, 2023 March 31, 2023 Income: Net income $ 2,676 $ 571 $ 4,021 Diluted earnings per common share $ 0.24 $ 0.05 $ 0.34

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Source: SEC EDGAR

accession 0001750735-24-000028

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