Meridian revises Q1 net income down $2.7M to $2M after $3.9M charge-off on participated loan

Meridian Corp

Revised Q1 2026 net income of $2.0M ($0.17 EPS), down from originally reported $4.7M ($0.41 EPS).
Lead participant bank placed a participated loan on nonaccrual; updated appraisal showed significantly lower collateral value.
Charge-off of $3.9M recorded on the loan; additional $3.5M provision for credit losses recognized.
Non-performing loans rose to $58.7M (2.64% of total loans) at March 31, up from $55.1M (2.50%) at Dec 31, 2025.
Loan secured by 190k sq ft Class A office property in Bucks County, PA; large tenant loss cited as cause.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Meridian Corp reported the quarter ended March 31, 2026 results: net income $2.0 million, EPS $0.17 per diluted share.

Period: the quarter ended March 31, 2026
Net income: $2.0 million
EPS: $0.17 per diluted share
Result: reported results

Exact text from the filing

Net income for the quarter ended March 31, 2026 was $2.0 million, or $0.17 per diluted share

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Source: SEC EDGAR

accession 0001750735-26-000046

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