secwatch.observer — SEC 8-K summary
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Issuer:     Meridian Corp (MRBK)
CIK:        0001750735
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0001750735-24-000052
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Meridian Corp Q2 net income $3.3M ($0.30 EPS) up 24% QoQ but down 28% YoY; declares $0.125 dividend
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- Net income $3.326M, diluted EPS $0.30 vs $0.24 Q1 and $0.41 a year ago.
- Net interest margin 3.06%, down 3 bps sequentially; commercial loans grew $40.7M in Q2.
- Pre-tax pre-provision income $7.072M, up from $6.419M in Q1; mortgage division contributed $545K.
- Board declared $0.125 per share quarterly dividend, payable Aug 19 to holders of record Aug 12.
- Net charge-offs increased to $4.1M (0.20% avg loans) from $2.3M (0.12%) in Q1; NPA ratio improved to 1.68%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1750735/000175073524000052/0001750735-24-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1750735/000175073524000052/mrbk-20240726.htm
  HTML page:      https://secwatch.observer/filing/0001750735-24-000052

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