secwatch.observer — SEC 8-K summary
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Issuer:     Meridian Corp (MRBK)
CIK:        0001750735
Form:       8-K/A
Filed at:   2026-05-04T23:59:59+00:00
Accession:  0001750735-26-000046
Event type: other_material
Sentiment:  negative
Materiality: 0.92
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1750735/000175073526000046/0001750735-26-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1750735/000175073526000046/mrbk-20260423.htm
  HTML page:      https://secwatch.observer/filing/0001750735-26-000046

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