Meridian Bank (MRBK) Financials

$19.81 +0.31 (+1.59%)

Closing price 04:00 PM Eastern

Extended Trading

$19.80 0.00 (-0.03%)

As of 04:10 PM Eastern

Annual Income Statements for Meridian Bank

This table shows Meridian Bank's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1.87	8.16	10	26	36	22	13	16	22
Consolidated Net Income / (Loss)	3.03	8.16	10	26	36	22	13	16	22
Net Income / (Loss) Continuing Operations	3.03	8.16	10	26	36	22	13	16	22
Total Pre-Tax Income	5.79	10	14	35	46	28	17	22	28
Total Revenue	66	65	69	136	151	112	101	112	127
Net Interest Income / (Expense)	29	33	36	49	63	70	69	71	88
Total Interest Income	36	44	53	63	72	89	137	156	166
Loans and Leases Interest Income	35	43	51	60	69	85	130	147	156
Investment Securities Interest Income	1.05	1.37	1.74	2.30	2.70	4.09	6.51	8.87	10
Total Interest Expense	6.78	11	17	14	8.41	19	68	85	79
Deposits Interest Expense	4.63	9.23	14	9.97	5.49	15	58	74	68
Long-Term Debt Interest Expense	2.16	2.18	2.62	3.69	2.92	3.20	9.83	11	10
Total Non-Interest Income	37	32	33	87	88	42	32	41	39
Trust Fees by Commissions	-	-	-	-	4.93	4.73	4.93	5.74	6.32
Other Service Charges	34	29	29	79	80	35	22	27	25
Net Realized & Unrealized Capital Gains on Investments	-0.29	-0.37	-0.16	-2.76	-1.13	1.48	0.23	4.08	1.66
Other Non-Interest Income	0.28	0.30	4.02	11	3.95	0.55	5.27	4.33	6.41
Provision for Credit Losses	2.16	1.58	0.90	8.30	1.07	2.49	6.82	11	15
Total Non-Interest Expense	58	53	55	93	104	81	77	79	83
Salaries and Employee Benefits	39	35	35	72	79	54	47	47	51
Net Occupancy & Equipment Expense	4.88	4.89	5.06	5.83	4.55	4.84	4.84	5.98	4.58
Marketing Expense	2.25	2.36	2.48	2.85	3.71	4.34	3.73	3.29	3.88
Other Operating Expenses	11	11	12	12	17	17	21	23	24
Income Tax Expense	2.75	2.33	3.03	8.10	11	6.09	3.72	5.44	6.57
Basic Earnings per Share	$0.50	$1.28	$1.64	$4.32	$2.96	$1.85	$1.19	$1.47	$1.93
Weighted Average Basic Shares Outstanding	-	6.41M	6.09M	6.17M	12.04M	11.79M	11.12M	11.11M	11.33M
Diluted Earnings per Share	$0.49	$1.27	$1.63	$4.27	$2.87	$1.79	$1.16	$1.45	$1.89
Weighted Average Diluted Shares Outstanding	-	6.41M	6.09M	6.17M	12.41M	12.20M	11.39M	11.24M	11.54M
Weighted Average Basic & Diluted Shares Outstanding	-	6.41M	6.09M	6.17M	6.13M	11.39M	11.19M	11.29M	11.88M
Cash Dividends to Common per Share	-	-	-	$0.25	$0.79	$0.90	$0.50	$0.50	$0.50

This table shows Meridian Bank's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	4.01	0.57	2.68	3.33	4.74	5.60	2.40	5.59	6.66	7.19	2.01
Consolidated Net Income / (Loss)	4.01	0.57	2.68	3.33	4.74	5.60	2.40	5.59	6.66	7.19	2.01
Net Income / (Loss) Continuing Operations	4.01	0.57	2.68	3.33	4.74	5.60	2.40	5.59	6.66	7.19	2.01
Total Pre-Tax Income	5.21	0.73	3.55	4.39	6.25	7.60	3.15	7.29	8.67	9.30	2.59
Total Revenue	25	25	25	26	29	33	27	32	33	34	30
Net Interest Income / (Expense)	17	17	17	17	18	19	20	21	23	24	23
Total Interest Income	35	36	37	38	40	40	39	41	43	43	41
Loans and Leases Interest Income	34	34	35	36	38	37	37	39	40	40	38
Investment Securities Interest Income	1.48	1.88	1.88	1.98	2.22	2.80	2.62	2.51	2.63	2.56	2.57
Total Interest Expense	18	19	21	22	22	21	19	20	20	19	18
Deposits Interest Expense	16	17	17	19	19	18	17	17	17	17	15
Long-Term Debt Interest Expense	2.69	2.60	3.21	2.63	2.76	2.39	2.52	2.75	2.58	2.62	2.29
Total Non-Interest Income	8.09	8.12	7.98	9.24	11	13	7.32	11	9.95	11	7.04
Trust Fees by Commissions	1.26	-	1.32	1.44	1.45	1.53	1.54	1.49	1.61	1.68	1.73
Other Service Charges	5.92	4.91	5.60	6.71	7.78	5.76	4.43	6.83	6.57	6.28	5.50
Net Realized & Unrealized Capital Gains on Investments	-0.28	0.75	-0.12	0.09	0.84	3.64	0.39	0.74	0.10	0.38	-0.61
Other Non-Interest Income	1.18	0.03	1.19	1.00	0.77	2.35	0.97	2.23	1.68	2.28	0.42
Provision for Credit Losses	0.08	4.63	2.87	2.68	2.28	3.57	5.21	3.80	2.85	3.29	7.49
Total Non-Interest Expense	20	20	18	19	21	21	19	21	22	22	20
Salaries and Employee Benefits	12	12	11	11	13	12	11	13	14	13	12
Net Occupancy & Equipment Expense	1.23	1.23	1.23	1.23	1.24	2.27	1.34	1.04	0.99	1.21	1.18
Marketing Expense	0.85	0.93	0.75	0.99	0.72	0.84	0.78	1.28	0.88	0.94	0.69
Other Operating Expenses	5.52	5.80	5.62	5.36	5.76	5.87	5.24	5.86	6.07	6.40	5.90
Income Tax Expense	1.21	0.16	0.88	1.07	1.50	2.00	0.75	1.70	2.01	2.11	0.58
Basic Earnings per Share	$0.36	$0.05	$0.24	$0.30	$0.43	$0.50	$0.21	$0.50	$0.59	$0.63	$0.17
Weighted Average Basic Shares Outstanding	11.06M	11.12M	11.09M	11.10M	11.11M	11.11M	11.21M	11.23M	11.33M	11.33M	11.81M
Diluted Earnings per Share	$0.35	$0.05	$0.24	$0.30	$0.42	$0.50	$0.21	$0.49	$0.58	$0.61	$0.17
Weighted Average Diluted Shares Outstanding	11.36M	11.39M	11.20M	11.15M	11.23M	11.24M	11.45M	11.39M	11.54M	11.54M	12.15M
Weighted Average Basic & Diluted Shares Outstanding	11.18M	11.19M	11.19M	11.19M	11.24M	11.29M	11.29M	11.30M	11.52M	11.88M	11.89M
Cash Dividends to Common per Share	$0.13	$0.13	$0.13	$0.13	$0.13	$0.13	$0.13	$0.13	$0.13	-	$0.14

This table details how cash moves in and out of Meridian Bank's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	17	-12	15	-2.63	-13	15	18	-29	8.32
Net Cash From Operating Activities	10	11	22	-158	165	85	19	9.60	24
Net Cash From Continuing Operating Activities	10	11	22	-158	165	85	19	9.60	24
Net Income / (Loss) Continuing Operations	3.03	8.16	10	26	36	22	13	16	22
Consolidated Net Income / (Loss)	3.03	8.16	10	26	36	22	13	16	22
Provision For Loan Losses	2.16	1.58	0.90	8.30	1.07	2.49	6.82	11	15
Depreciation Expense	0.96	1.42	0.66	-2.89	-5.92	-1.41	0.43	0.82	-0.29
Amortization Expense	-	-	1.23	1.35	2.60	3.80	4.56	5.59	1.33
Non-Cash Adjustments to Reconcile Net Income	4.49	0.67	5.72	-201	130	59	-8.75	-15	-8.21
Changes in Operating Assets and Liabilities, net	-0.17	-0.80	2.58	8.95	1.72	-0.90	2.55	-9.42	-5.52
Net Cash From Investing Activities	-110	-156	-143	-371	-141	-393	-164	-165	-164
Net Cash From Continuing Investing Activities	-110	-156	-143	-371	-141	-393	-164	-165	-164
Purchase of Property, Leasehold Improvements and Equipment	-2.41	-1.64	-0.75	-0.75	-5.37	-2.91	-1.82	-0.57	-1.73
Purchase of Investment Securities	-115	-163	-181	-427	-169	-403	-187	-273	-323
Sale of Property, Leasehold Improvements and Equipment	-	-	-	-	-	-	-	0.00	0.04
Sale and/or Maturity of Investments	7.33	9.33	39	57	34	13	25	109	161
Net Cash From Financing Activities	116	133	137	527	-38	323	164	126	148
Net Cash From Continuing Financing Activities	116	133	137	527	-38	323	164	126	148
Net Change in Deposits	100	125	99	390	205	266	111	182	153
Issuance of Debt	-	13	49	162	0.00	81	63	-43	8.11
Issuance of Common Equity	42	0.14	0.01	0.40	1.11	0.75	0.31	0.50	8.40
Repayment of Debt	-12	-4.89	-11	-17	-231	-0.28	-0.34	-8.05	-15
Payment of Dividends	-1.17	-	0.00	-1.53	-9.68	-11	-5.61	-5.60	-5.67
Other Financing Activities, Net	-	-	-	-	-	-	-	0.00	-0.43
Cash Interest Paid	6.76	11	16	14	9.53	16	60	88	79
Cash Income Taxes Paid	2.75	2.74	2.64	5.30	14	5.37	3.10	3.08	11

This table details how cash moves in and out of Meridian Bank's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	13	-3.06	-34	1.03	8.29	-4.89	104	-81	-10	-4.21	-7.51
Net Cash From Operating Activities	23	7.87	-1.71	-19	31	-0.70	18	-12	24	-6.18	2.86
Net Cash From Continuing Operating Activities	23	7.87	-1.71	-19	31	-0.70	18	-12	24	-6.18	2.86
Net Income / (Loss) Continuing Operations	4.01	0.57	2.68	3.33	4.74	5.60	2.40	5.59	6.66	7.19	2.01
Consolidated Net Income / (Loss)	4.01	0.57	2.68	3.33	4.74	5.60	2.40	5.59	6.66	7.19	2.01
Provision For Loan Losses	0.08	4.63	2.87	2.68	2.28	3.57	5.21	3.80	2.85	3.29	7.49
Depreciation Expense	0.14	0.14	1.78	0.03	-1.53	0.54	0.01	-0.03	-0.06	-0.21	0.03
Amortization Expense	2.17	1.66	0.75	0.69	2.52	1.64	1.37	0.36	0.38	-0.84	0.20
Non-Cash Adjustments to Reconcile Net Income	16	-3.67	-5.74	-25	13	3.40	2.62	-19	14	-6.18	-6.04
Changes in Operating Assets and Liabilities, net	0.09	4.53	-4.04	-0.51	11	-15	6.50	-3.14	0.55	-9.43	-0.82
Net Cash From Investing Activities	-27	-21	-79	-35	-43	-8.69	-52	-49	-55	-8.08	-24
Net Cash From Continuing Investing Activities	-27	-21	-79	-35	-43	-8.69	-52	-49	-55	-8.08	-24
Purchase of Property, Leasehold Improvements and Equipment	-0.48	-0.74	-1.91	-0.05	1.74	-0.35	-0.26	-0.63	-0.45	-0.39	-0.23
Purchase of Investment Securities	-30	-23	-81	-38	-67	-27	-67	-52	-63	-152	-36
Sale and/or Maturity of Investments	2.87	2.73	4.11	3.44	23	19	16	4.15	7.85	144	12
Net Cash From Financing Activities	18	10	47	55	20	4.51	137	-20	21	10	14
Net Cash From Continuing Financing Activities	18	10	47	55	20	4.51	137	-20	21	10	14
Net Change in Deposits	26	15	77	15	63	26	123	-18	21	27	12
Issuance of Debt	-6.94	-3.06	-29	41	-53	22	15	-0.63	14	-20	3.50
Issuance of Common Equity	0.14	0.14	0.02	0.05	0.34	0.10	0.41	0.11	3.06	4.83	0.62
Repayment of Debt	-0.01	-0.27	0.00	-	11	-43	-0.01	-	-15	-	-0.21
Payment of Dividends	-1.40	-1.40	-1.40	-1.40	-1.40	-1.41	-1.41	-1.41	-1.42	-1.44	-1.66
Cash Interest Paid	16	17	23	22	23	21	19	20	20	20	17
Cash Income Taxes Paid	1.53	1.27	-	-	0.52	1.86	0.00	-	2.33	4.91	0.30

This table presents Meridian Bank's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	856	997	1,150	1,720	1,713	2,062	2,246	2,386	2,562
Cash and Due from Banks	25	23	19	34	3.97	11	10	5.60	10
Interest Bearing Deposits at Other Banks	-	-	-	-	20	27	47	22	25
Trading Account Securities	53	63	69	131	247	197	207	240	260
Loans and Leases, Net of Allowance	688	830	955	1,267	0.00	1,725	1,874	2,012	2,149
Loans and Leases	695	838	965	1,285	-	1,744	1,896	2,030	2,171
Allowance for Loan and Lease Losses	6.71	8.05	9.51	18	-	19	22	18	22
Premises and Equipment, Net	9.74	9.64	8.64	7.78	12	13	14	12	12
Goodwill	-	-	0.90	0.90	0.90	0.90	0.90	0.90	0.90
Intangible Assets	5.50	5.05	3.87	3.60	3.38	3.18	2.97	2.77	2.56
Other Assets	29	28	40	44	1,427	84	92	90	102
Total Liabilities & Shareholders' Equity	856	997	1,150	1,720	1,713	2,062	2,246	2,386	2,562
Total Liabilities	755	888	1,029	1,579	1,548	1,909	2,088	2,214	2,362
Non-Interest Bearing Deposits	100	126	139	204	275	302	239	241	245
Interest Bearing Deposits	527	626	712	1,037	1,172	1,411	1,584	1,765	1,913
Accrued Interest Payable	0.22	0.31	1.09	1.15	0.03	2.39	10	6.86	6.53
Long-Term Debt	22	15	44	206	82	162	225	174	167
Other Long-Term Liabilities	5.43	5.72	9.31	23	20	32	30	28	30
Total Equity & Noncontrolling Interests	101	110	121	142	165	153	158	172	200
Total Preferred & Common Equity	101	110	121	142	165	153	158	172	200
Total Common Equity	101	110	121	142	165	153	158	172	200
Common Stock	86	86	87	88	90	92	94	95	104
Retained Earnings	16	24	34	59	85	96	101	112	128
Treasury Stock	-	0.00	-0.00	-5.83	-8.86	-22	-26	-26	-26
Accumulated Other Comprehensive Income / (Loss)	-0.30	-0.39	-0.00	2.56	0.71	-12	-9.42	-8.14	-5.28
Other Equity Adjustments	-	-	0.00	-1.77	-1.60	-1.40	-1.20	-1.01	-1.23

This table presents Meridian Bank's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,231	2,293	2,352	2,388	2,529	2,511	2,541	2,577
Cash and Due from Banks	14	8.94	8.46	13	17	21	13	12
Interest Bearing Deposits at Other Banks	46	14	16	20	114	30	27	16
Trading Account Securities	182	215	249	252	246	265	255	267
Loans and Leases, Net of Allowance	1,866	1,933	1,967	1,986	2,051	2,087	2,141	2,160
Loans and Leases	1,886	1,956	1,989	2,008	2,072	2,108	2,163	2,182
Allowance for Loan and Lease Losses	20	23	22	22	21	21	22	21
Premises and Equipment, Net	13	13	13	13	12	12	12	12
Goodwill	0.90	0.90	0.90	0.90	0.90	0.90	0.90	0.90
Intangible Assets	3.02	2.92	2.87	2.82	2.72	2.67	2.61	2.51
Other Assets	106	104	95	94	85	93	89	105
Total Liabilities & Shareholders' Equity	2,231	2,293	2,352	2,388	2,529	2,511	2,541	2,577
Total Liabilities	2,076	2,133	2,189	2,220	2,355	2,333	2,353	2,376
Non-Interest Bearing Deposits	245	221	224	237	323	237	240	243
Interest Bearing Deposits	1,564	1,680	1,691	1,742	1,805	1,873	1,892	1,927
Accrued Interest Payable	7.81	8.35	7.71	7.02	7.40	7.06	7.10	6.62
Long-Term Debt	228	196	237	195	189	189	187	171
Other Long-Term Liabilities	31	28	29	40	30	27	28	29
Total Equity & Noncontrolling Interests	155	160	162	167	174	178	188	200
Total Preferred & Common Equity	155	160	162	167	174	178	188	200
Total Common Equity	155	160	162	167	174	178	188	200
Common Stock	93	94	94	94	95	95	99	105
Retained Earnings	102	102	104	108	113	117	122	128
Treasury Stock	-26	-26	-26	-26	-26	-26	-26	-26
Accumulated Other Comprehensive Income / (Loss)	-12	-8.95	-8.59	-7.27	-7.61	-7.51	-5.91	-5.70
Other Equity Adjustments	-1.40	-1.20	-1.20	-1.20	-1.01	-1.01	-1.01	-1.23

This table displays calculated financial ratios and metrics derived from Meridian Bank's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	6,406,795.00	6,405,600.00	6,132,403.00	6,079,335.00	5,800,526.00	11,177,751.00	-	11,517,456.00
DEI Adjusted Shares Outstanding	0.00	12,813,590.00	12,811,200.00	12,264,806.00	12,158,670.00	11,601,052.00	11,177,751.00	-	11,517,456.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.64	0.82	2.16	2.93	1.88	1.18	-	1.90
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-0.95%	6.49%	96.33%	11.17%	-25.97%	-9.79%	11.33%	12.93%
EBITDA Growth	0.00%	76.50%	29.31%	114.24%	30.23%	-29.46%	-27.56%	28.41%	4.41%
EBIT Growth	0.00%	81.30%	28.83%	155.56%	34.07%	-39.70%	-39.23%	28.40%	30.37%
NOPAT Growth	0.00%	169.23%	28.40%	152.25%	34.60%	-38.66%	-39.33%	23.43%	33.59%
Net Income Growth	0.00%	169.23%	28.40%	152.25%	34.60%	-38.66%	-39.33%	23.43%	33.59%
EPS Growth	0.00%	159.18%	28.35%	161.96%	-32.79%	-38.66%	-35.20%	25.00%	30.34%
Operating Cash Flow Growth	0.00%	5.26%	95.55%	-834.69%	204.20%	-48.72%	-77.73%	-49.10%	153.18%
Free Cash Flow Firm Growth	0.00%	0.00%	-390.31%	-261.76%	273.86%	-119.20%	-15.29%	199.18%	-98.75%
Invested Capital Growth	0.00%	7.19%	20.53%	57.63%	-45.63%	27.71%	21.24%	-9.67%	6.12%
Revenue Q/Q Growth	0.00%	0.00%	4.64%	23.65%	-7.11%	-5.81%	-1.42%	7.17%	1.33%
EBITDA Q/Q Growth	0.00%	0.00%	7.29%	24.90%	-3.49%	-7.64%	-16.75%	34.55%	-4.92%
EBIT Q/Q Growth	0.00%	0.00%	8.62%	29.05%	-4.11%	-13.00%	-22.74%	46.04%	6.37%
NOPAT Q/Q Growth	0.00%	0.00%	7.95%	28.48%	-3.47%	-12.65%	-23.14%	44.44%	7.83%
Net Income Q/Q Growth	0.00%	0.00%	7.95%	28.48%	-3.47%	-12.65%	-23.14%	44.44%	7.83%
EPS Q/Q Growth	0.00%	0.00%	7.95%	27.08%	-52.95%	-12.65%	-25.64%	42.16%	5.59%
Operating Cash Flow Q/Q Growth	0.00%	199.81%	273.94%	-9.67%	27.40%	-17.27%	-41.09%	-47.17%	-18.39%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	43.60%	-7.93%	-142.57%	64.30%	65.67%	-91.01%
Invested Capital Q/Q Growth	0.00%	0.00%	11.57%	-13.72%	-17.56%	46.69%	-0.10%	-4.56%	-2.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-
EBITDA Margin	10.28%	18.32%	22.25%	24.28%	28.44%	27.10%	21.76%	25.10%	23.21%
EBIT Margin	8.82%	16.14%	19.52%	25.41%	30.64%	24.96%	16.81%	19.39%	22.39%
Profit (Net Income) Margin	4.62%	12.56%	15.14%	19.45%	23.55%	19.52%	13.12%	14.55%	17.21%
Tax Burden Percent	52.40%	77.82%	77.56%	76.55%	76.85%	78.18%	78.05%	75.03%	76.88%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	47.60%	22.18%	22.44%	23.45%	23.15%	21.82%	21.95%	24.97%	23.12%
Return on Invested Capital (ROIC)	1.36%	3.53%	3.97%	7.12%	10.14%	7.76%	3.79%	4.49%	6.13%
ROIC Less NNEP Spread (ROIC-NNEP)	1.36%	3.53%	3.97%	7.12%	10.14%	7.76%	3.79%	4.49%	6.13%
Return on Net Nonoperating Assets (RNNOA)	1.63%	4.21%	5.13%	13.04%	13.04%	5.95%	4.72%	5.43%	5.64%
Return on Equity (ROE)	2.99%	7.74%	9.10%	20.16%	23.18%	13.70%	8.51%	9.92%	11.76%
Cash Return on Invested Capital (CROIC)	0.00%	-3.41%	-14.64%	-37.63%	69.26%	-16.58%	-15.41%	14.65%	0.19%
Operating Return on Assets (OROA)	0.68%	1.13%	1.26%	2.41%	2.70%	1.48%	0.79%	0.94%	1.15%
Return on Assets (ROA)	0.35%	0.88%	0.98%	1.84%	2.07%	1.16%	0.61%	0.71%	0.88%
Return on Common Equity (ROCE)	2.99%	7.74%	9.10%	20.16%	23.18%	13.70%	8.51%	9.92%	11.76%
Return on Equity Simple (ROE_SIMPLE)	2.99%	7.45%	8.68%	18.67%	21.52%	14.24%	8.38%	9.53%	10.93%
Net Operating Profit after Tax (NOPAT)	3.03	8.16	10	26	36	22	13	16	22
NOPAT Margin	4.62%	12.56%	15.14%	19.45%	23.55%	19.52%	13.12%	14.55%	17.21%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	70.46%	64.66%	61.67%	59.47%	57.66%	56.82%	55.45%	50.33%	47.09%
Operating Expenses to Revenue	87.89%	81.44%	79.18%	68.48%	68.65%	72.81%	76.43%	70.46%	65.67%
Earnings before Interest and Taxes (EBIT)	5.79	10	14	35	46	28	17	22	28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6.75	12	15	33	43	30	22	28	29
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.81	0.86	0.74	1.18	1.06	0.93	0.89	1.00
Price to Tangible Book Value (P/TBV)	0.00	0.85	0.90	0.76	1.21	1.09	0.95	0.91	1.02
Price to Revenue (P/Rev)	0.00	1.36	1.51	0.77	1.29	1.45	1.46	1.36	1.57
Price to Earnings (P/E)	0.00	10.87	9.95	3.95	5.46	7.42	11.11	9.36	9.14
Dividend Yield	0.00%	0.00%	0.00%	1.47%	4.93%	3.58%	3.80%	3.67%	2.89%
Earnings Yield	0.00%	9.20%	10.05%	25.31%	18.30%	13.48%	9.00%	10.69%	10.94%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.81	0.81	0.84	1.02	0.91	0.82	0.87	0.90
Enterprise Value to Revenue (EV/Rev)	0.00	2.99	3.36	2.80	1.67	2.56	3.12	2.67	2.61
Enterprise Value to EBITDA (EV/EBITDA)	0.00	16.33	15.11	11.54	5.88	9.43	14.35	10.63	11.24
Enterprise Value to EBIT (EV/EBIT)	0.00	18.55	17.22	11.03	5.46	10.24	18.57	13.76	11.66
Enterprise Value to NOPAT (EV/NOPAT)	0.00	23.83	22.20	14.40	7.10	13.10	23.79	18.34	15.16
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	17.64	10.79	0.00	1.53	3.38	16.71	31.23	13.62
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	1.04	0.00	0.00	5.62	497.78
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	1.20	1.18	1.39	2.21	0.50	1.06	1.42	1.02	0.84
Long-Term Debt to Equity	0.22	0.14	0.37	1.46	0.50	1.06	1.42	1.02	0.84
Financial Leverage	1.20	1.19	1.29	1.83	1.29	0.77	1.24	1.21	0.92
Leverage Ratio	8.45	8.79	9.33	10.94	11.19	11.85	13.84	14.06	13.33
Compound Leverage Factor	8.45	8.79	9.33	10.94	11.19	11.85	13.84	14.06	13.33
Debt to Total Capital	54.60%	54.23%	58.16%	68.85%	33.11%	51.45%	58.71%	50.39%	45.57%
Short-Term Debt to Total Capital	44.67%	47.76%	42.88%	23.50%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	9.93%	6.47%	15.28%	45.35%	33.11%	51.45%	58.71%	50.39%	45.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.40%	45.77%	41.84%	31.15%	66.89%	48.55%	41.29%	49.61%	54.43%
Debt to EBITDA	18.07	10.89	10.89	9.49	1.90	5.36	10.23	6.18	5.68
Net Debt to EBITDA	12.80	8.88	8.34	8.37	1.36	4.09	7.65	5.20	4.46
Long-Term Debt to EBITDA	3.29	1.30	2.86	6.25	1.90	5.36	10.23	6.18	5.68
Debt to NOPAT	40.21	15.90	16.01	11.84	2.30	7.44	16.97	10.66	7.66
Net Debt to NOPAT	28.50	12.96	12.25	10.45	1.64	5.68	12.69	8.98	6.02
Long-Term Debt to NOPAT	7.31	1.90	4.21	7.80	2.30	7.44	16.97	10.66	7.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-7.88	-39	-140	243	-47	-54	53	0.67
Operating Cash Flow to CapEx	434.81%	672.97%	2,891.29%	-21,213.52%	3,072.63%	2,912.66%	1,034.23%	1,689.61%	1,436.05%
Free Cash Flow to Firm to Interest Expense	0.00	-0.69	-2.34	-10.23	28.90	-2.51	-0.80	0.63	0.01
Operating Cash Flow to Interest Expense	1.55	0.97	1.31	-11.60	19.63	4.55	0.28	0.11	0.31
Operating Cash Flow Less CapEx to Interest Expense	1.19	0.82	1.26	-11.66	18.99	4.40	0.25	0.11	0.29
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.08	0.07	0.06	0.09	0.09	0.06	0.05	0.05	0.05
Fixed Asset Turnover	6.74	6.71	7.58	16.56	15.43	8.89	7.50	8.74	10.33
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	223	239	288	455	247	316	383	346	367
Invested Capital Turnover	0.29	0.28	0.26	0.37	0.43	0.40	0.29	0.31	0.36
Increase / (Decrease) in Invested Capital	0.00	16	49	166	-207	68	67	-37	21
Enterprise Value (EV)	0.00	195	233	381	253	286	315	300	331
Market Capitalization	0.00	89	104	104	194	162	147	153	200
Book Value per Share	$0.00	$17.10	$18.84	$23.09	$27.20	$26.43	$14.14	$15.26	$17.34
Tangible Book Value per Share	$0.00	$16.31	$18.10	$22.36	$26.50	$25.72	$13.79	$14.93	$17.04
Total Capital	223	239	288	455	247	316	383	346	367
Total Debt	122	130	168	313	82	162	225	174	167
Total Long-Term Debt	22	15	44	206	82	162	225	174	167
Net Debt	86	106	128	276	58	124	168	147	131
Capital Expenditures (CapEx)	2.41	1.64	0.75	0.75	5.37	2.91	1.82	0.57	1.69
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	122	130	168	313	82	162	225	174	167
Total Depreciation and Amortization (D&A)	0.96	1.42	1.89	-1.54	-3.33	2.40	4.99	6.41	1.04
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.64	$0.82	$2.16	$2.96	$0.93	$1.19	$1.47	$1.93
Adjusted Weighted Average Basic Shares Outstanding	0.00	12.81M	12.19M	12.34M	12.26M	23.58M	11.12M	11.11M	11.33M
Adjusted Diluted Earnings per Share	$0.00	$0.64	$0.82	$2.14	$2.87	$0.90	$1.16	$1.45	$1.89
Adjusted Weighted Average Diluted Shares Outstanding	0.00	12.81M	12.19M	12.34M	12.26M	24.41M	11.39M	11.24M	11.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	12.81M	12.19M	12.34M	12.26M	22.78M	11.19M	11.29M	11.88M
Normalized Net Operating Profit after Tax (NOPAT)	3.03	8.16	10	26	36	22	13	16	22
Normalized NOPAT Margin	4.62%	12.56%	15.14%	19.45%	23.55%	19.52%	13.12%	14.55%	17.21%
Pre Tax Income Margin	8.82%	16.14%	19.52%	25.41%	30.64%	24.96%	16.81%	19.39%	22.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.85	0.92	0.82	2.53	5.50	1.50	0.25	0.26	0.36
NOPAT to Interest Expense	0.45	0.72	0.63	1.94	4.23	1.17	0.20	0.19	0.28
EBIT Less CapEx to Interest Expense	0.50	0.78	0.77	2.47	4.87	1.35	0.22	0.25	0.34
NOPAT Less CapEx to Interest Expense	0.09	0.57	0.59	1.88	3.59	1.02	0.17	0.19	0.26
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	38.49%	0.00%	0.00%	5.77%	27.20%	50.07%	42.39%	34.27%	25.98%
Augmented Payout Ratio	38.49%	0.00%	0.03%	34.90%	35.72%	109.45%	74.55%	34.27%	25.98%

This table displays calculated financial ratios and metrics derived from Meridian Bank's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	11,177,751.00	11,177,751.00	11,185,515.00	11,185,515.00	11,190,875.00	-	11,285,278.00	11,285,278.00	11,301,228.00	11,517,456.00	11,875,178.00
DEI Adjusted Shares Outstanding	11,177,751.00	11,177,751.00	11,185,515.00	11,185,515.00	11,190,875.00	-	11,285,278.00	11,285,278.00	11,301,228.00	11,517,456.00	11,875,178.00
DEI Earnings Per Adjusted Shares Outstanding	0.36	0.05	0.24	0.30	0.42	-	0.21	0.50	0.59	0.62	0.17
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.41%	-5.47%	1.14%	-0.50%	14.87%	30.00%	10.19%	24.37%	13.74%	5.10%	11.58%
EBITDA Growth	20.19%	-63.56%	2.06%	-14.11%	-3.80%	285.83%	-25.61%	49.19%	24.32%	-15.57%	-37.79%
EBIT Growth	-30.19%	-87.28%	-30.70%	-25.58%	19.87%	943.41%	-11.48%	65.92%	38.88%	22.39%	-17.71%
NOPAT Growth	-30.92%	-87.45%	-33.45%	-28.40%	18.43%	879.20%	-10.35%	68.13%	40.40%	28.30%	-16.38%
Net Income Growth	-30.92%	-87.45%	-33.45%	-28.40%	18.43%	879.20%	-10.35%	68.13%	40.40%	28.30%	-16.38%
EPS Growth	-27.08%	-87.18%	-29.41%	-26.83%	20.00%	900.00%	-12.50%	63.33%	38.10%	22.00%	-19.05%
Operating Cash Flow Growth	-19.46%	-62.57%	85.04%	-13,147.59%	38.53%	-108.95%	1,161.96%	37.30%	-21.82%	-777.56%	-84.20%
Free Cash Flow Firm Growth	-281.26%	-3.97%	139.35%	94.35%	115.64%	164.11%	-106.61%	627.78%	-124.18%	-132.81%	-18.29%
Invested Capital Growth	78.03%	21.24%	-16.77%	2.72%	-5.45%	-9.67%	2.06%	-8.20%	3.55%	6.12%	2.15%
Revenue Q/Q Growth	-3.48%	-0.99%	-1.86%	6.09%	11.43%	12.06%	-16.82%	19.73%	1.92%	3.55%	-11.69%
EBITDA Q/Q Growth	26.41%	-66.31%	140.15%	-16.01%	41.57%	35.12%	-53.70%	66.53%	17.97%	-8.24%	-65.88%
EBIT Q/Q Growth	-11.72%	-86.03%	388.05%	23.61%	42.19%	21.63%	-58.60%	131.70%	19.02%	7.19%	-72.16%
NOPAT Q/Q Growth	-13.78%	-85.72%	367.83%	24.29%	42.60%	18.09%	-57.17%	133.10%	19.08%	7.91%	-72.08%
Net Income Q/Q Growth	-13.78%	-85.72%	367.83%	24.29%	42.60%	18.09%	-57.17%	133.10%	19.08%	7.91%	-72.08%
EPS Q/Q Growth	-14.63%	-85.71%	380.00%	25.00%	40.00%	19.05%	-58.00%	133.33%	18.37%	5.17%	-72.13%
Operating Cash Flow Q/Q Growth	15,640.00%	-65.09%	-121.69%	-1,025.97%	262.51%	-102.26%	2,673.44%	-166.48%	302.61%	-125.32%	146.34%
Free Cash Flow Firm Q/Q Growth	-27.56%	59.45%	211.80%	-109.78%	452.79%	66.24%	-111.53%	880.50%	-116.16%	-125.60%	58.43%
Invested Capital Q/Q Growth	-1.49%	-0.10%	-7.09%	12.35%	-9.33%	-4.56%	4.97%	1.06%	2.27%	-2.19%	1.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	29.71%	10.11%	24.73%	19.58%	24.88%	30.00%	16.70%	23.49%	27.19%	24.10%	9.31%
EBIT Margin	20.58%	2.91%	14.45%	16.83%	21.48%	23.32%	11.61%	22.46%	26.23%	27.15%	8.56%
Profit (Net Income) Margin	15.82%	2.28%	10.88%	12.75%	16.31%	17.19%	8.85%	17.23%	20.14%	20.99%	6.63%
Tax Burden Percent	76.87%	78.57%	75.32%	75.73%	75.95%	73.74%	76.28%	76.74%	76.78%	77.29%	77.51%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	23.13%	21.43%	24.68%	24.27%	24.05%	26.26%	23.72%	23.26%	23.22%	22.71%	22.49%
Return on Invested Capital (ROIC)	5.41%	0.66%	2.81%	3.27%	4.59%	5.30%	2.83%	5.45%	6.84%	7.47%	2.35%
ROIC Less NNEP Spread (ROIC-NNEP)	5.41%	0.66%	2.81%	3.27%	4.59%	5.30%	2.83%	5.45%	6.84%	7.47%	2.35%
Return on Net Nonoperating Assets (RNNOA)	5.16%	0.82%	4.22%	4.88%	6.01%	6.42%	3.27%	6.82%	7.35%	6.87%	2.26%
Return on Equity (ROE)	10.58%	1.48%	7.04%	8.14%	10.60%	11.72%	6.10%	12.27%	14.18%	14.34%	4.61%
Cash Return on Invested Capital (CROIC)	-50.37%	-15.41%	21.34%	0.00%	8.64%	14.65%	2.44%	13.34%	2.01%	0.19%	3.71%
Operating Return on Assets (OROA)	1.01%	0.14%	0.65%	0.75%	0.97%	1.13%	0.55%	1.12%	1.33%	1.39%	0.44%
Return on Assets (ROA)	0.78%	0.11%	0.49%	0.57%	0.74%	0.83%	0.42%	0.86%	1.02%	1.08%	0.34%
Return on Common Equity (ROCE)	10.58%	1.48%	7.04%	8.14%	10.60%	11.72%	6.10%	12.27%	14.18%	14.34%	4.61%
Return on Equity Simple (ROE_SIMPLE)	11.11%	0.00%	7.44%	6.51%	6.76%	0.00%	9.26%	10.30%	10.77%	0.00%	10.71%
Net Operating Profit after Tax (NOPAT)	4.01	0.57	2.68	3.33	4.74	5.60	2.40	5.59	6.66	7.19	2.01
NOPAT Margin	15.82%	2.28%	10.88%	12.75%	16.31%	17.19%	8.85%	17.23%	20.14%	20.99%	6.63%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	57.27%	55.49%	51.05%	52.34%	50.87%	47.69%	49.82%	47.75%	46.81%	44.56%	47.16%
Operating Expenses to Revenue	79.09%	78.62%	73.90%	72.89%	70.67%	65.72%	69.16%	65.82%	65.15%	63.25%	66.66%
Earnings before Interest and Taxes (EBIT)	5.21	0.73	3.55	4.39	6.25	7.60	3.15	7.29	8.67	9.30	2.59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7.52	2.53	6.08	5.11	7.23	9.77	4.53	7.62	8.99	8.25	2.82
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.67	0.93	0.67	0.70	0.82	0.89	0.90	0.82	0.95	1.00	1.12
Price to Tangible Book Value (P/TBV)	0.69	0.95	0.68	0.71	0.83	0.91	0.92	0.83	0.97	1.02	1.14
Price to Revenue (P/Rev)	1.02	1.46	1.05	1.12	1.30	1.36	1.36	1.20	1.43	1.57	1.72
Price to Earnings (P/E)	6.05	11.11	8.94	10.71	12.08	9.36	9.71	7.93	8.81	9.14	10.42
Dividend Yield	6.17%	3.80%	5.26%	4.94%	4.09%	3.67%	3.62%	3.88%	3.17%	2.89%	2.74%
Earnings Yield	16.54%	9.00%	11.18%	9.34%	8.28%	10.69%	10.30%	12.60%	11.35%	10.94%	9.60%
Enterprise Value to Invested Capital (EV/IC)	0.71	0.82	0.78	0.82	0.83	0.87	0.59	0.77	0.87	0.90	0.99
Enterprise Value to Revenue (EV/Rev)	2.66	3.12	2.76	3.23	2.85	2.67	1.86	2.34	2.60	2.61	2.81
Enterprise Value to EBITDA (EV/EBITDA)	10.33	14.35	12.64	15.37	14.27	10.63	8.04	9.73	10.51	11.24	13.19
Enterprise Value to EBIT (EV/EBIT)	12.41	18.57	18.13	23.51	20.05	13.76	10.02	11.70	12.19	11.66	13.13
Enterprise Value to NOPAT (EV/NOPAT)	15.81	23.79	23.45	30.86	26.43	18.34	13.33	15.49	16.08	15.16	17.06
Enterprise Value to Operating Cash Flow (EV/OCF)	8.51	16.71	9.77	34.42	16.47	31.23	7.28	7.76	10.93	13.62	40.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	3.34	0.00	9.29	5.62	24.46	5.56	44.03	497.78	26.84
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.47	1.42	1.22	1.46	1.16	1.02	1.09	1.06	1.00	0.84	0.85
Long-Term Debt to Equity	1.47	1.42	1.22	1.46	1.16	1.02	1.09	1.06	1.00	0.84	0.85
Financial Leverage	0.95	1.24	1.50	1.49	1.31	1.21	1.15	1.25	1.07	0.92	0.96
Leverage Ratio	13.56	13.84	14.45	14.41	14.32	14.06	14.46	14.28	13.87	13.33	13.66
Compound Leverage Factor	13.56	13.84	14.45	14.41	14.32	14.06	14.46	14.28	13.87	13.33	13.66
Debt to Total Capital	59.52%	58.71%	55.02%	59.36%	53.78%	50.39%	52.17%	51.46%	49.87%	45.57%	45.99%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	59.52%	58.71%	55.02%	59.36%	53.78%	50.39%	52.17%	51.46%	49.87%	45.57%	45.99%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	40.48%	41.29%	44.98%	40.64%	46.22%	49.61%	47.83%	48.54%	50.13%	54.43%	54.01%
Debt to EBITDA	8.65	10.23	8.86	11.16	9.30	6.18	7.11	6.46	6.04	5.68	6.15
Net Debt to EBITDA	6.38	7.65	7.82	10.03	7.75	5.20	2.18	4.75	4.75	4.46	5.13
Long-Term Debt to EBITDA	8.65	10.23	8.86	11.16	9.30	6.18	7.11	6.46	6.04	5.68	6.15
Debt to NOPAT	13.24	16.97	16.45	22.42	17.21	10.66	11.78	10.29	9.24	7.66	7.95
Net Debt to NOPAT	9.77	12.69	14.51	20.14	14.36	8.98	3.62	7.56	7.26	6.02	6.63
Long-Term Debt to NOPAT	13.24	16.97	16.45	22.42	17.21	10.66	11.78	10.29	9.24	7.66	7.95
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-164	-66	74	-7.27	26	43	-4.91	38	-6.20	-14	-5.81
Operating Cash Flow to CapEx	4,704.18%	1,058.68%	-89.32%	-35,572.22%	0.00%	-203.47%	6,994.98%	-1,908.87%	5,447.32%	-1,638.73%	1,261.23%
Free Cash Flow to Firm to Interest Expense	-8.99	-3.43	3.61	-0.34	1.16	2.06	-0.25	1.91	-0.31	-0.73	-0.33
Operating Cash Flow to Interest Expense	1.24	0.41	-0.08	-0.89	1.41	-0.03	0.93	-0.60	1.22	-0.32	0.16
Operating Cash Flow Less CapEx to Interest Expense	1.21	0.37	-0.18	-0.89	1.49	-0.05	0.92	-0.63	1.20	-0.34	0.15
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05
Fixed Asset Turnover	7.83	7.50	7.57	7.67	8.03	8.74	9.01	9.53	9.93	10.33	10.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	383	383	356	400	362	346	363	367	375	367	371
Invested Capital Turnover	0.34	0.29	0.26	0.26	0.28	0.31	0.32	0.32	0.34	0.36	0.35
Increase / (Decrease) in Invested Capital	168	67	-72	11	-21	-37	7.31	-33	13	21	7.82
Enterprise Value (EV)	272	315	279	326	299	300	214	284	326	331	366
Market Capitalization	104	147	106	113	137	153	156	145	178	200	223
Book Value per Share	$13.88	$14.14	$14.30	$14.52	$14.96	$15.26	$15.38	$15.77	$16.64	$17.34	$16.86
Tangible Book Value per Share	$13.53	$13.79	$13.96	$14.18	$14.63	$14.93	$15.06	$15.46	$16.33	$17.04	$16.57
Total Capital	383	383	356	400	362	346	363	367	375	367	371
Total Debt	228	225	196	237	195	174	189	189	187	167	171
Total Long-Term Debt	228	225	196	237	195	174	189	189	187	167	171
Net Debt	168	168	173	213	162	147	58	139	147	131	142
Capital Expenditures (CapEx)	0.48	0.74	1.91	0.05	-1.74	0.35	0.26	0.63	0.45	0.38	0.23
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	228	225	196	237	195	174	189	189	187	167	171
Total Depreciation and Amortization (D&A)	2.31	1.81	2.53	0.72	0.99	2.18	1.38	0.34	0.32	-1.05	0.23
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.36	$0.05	$0.24	$0.30	$0.43	$0.50	$0.21	$0.50	$0.59	$0.63	$0.17
Adjusted Weighted Average Basic Shares Outstanding	11.06M	11.12M	11.09M	11.10M	11.11M	11.11M	11.21M	11.23M	11.33M	11.33M	11.81M
Adjusted Diluted Earnings per Share	$0.35	$0.05	$0.24	$0.30	$0.42	$0.50	$0.21	$0.49	$0.58	$0.61	$0.17
Adjusted Weighted Average Diluted Shares Outstanding	11.36M	11.39M	11.20M	11.15M	11.23M	11.24M	11.45M	11.39M	11.54M	11.54M	12.15M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.05	$0.00	$0.00	$0.00	$0.50	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	11.18M	11.19M	11.19M	11.19M	11.24M	11.29M	11.29M	11.30M	11.52M	11.88M	11.89M
Normalized Net Operating Profit after Tax (NOPAT)	4.01	0.57	2.68	3.33	4.74	5.60	2.40	5.59	6.66	7.19	2.01
Normalized NOPAT Margin	15.82%	2.28%	10.88%	12.75%	16.31%	17.19%	8.85%	17.23%	20.14%	20.99%	6.63%
Pre Tax Income Margin	20.58%	2.91%	14.45%	16.83%	21.48%	23.32%	11.61%	22.46%	26.23%	27.15%	8.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.29	0.04	0.17	0.20	0.28	0.37	0.16	0.36	0.43	0.48	0.15
NOPAT to Interest Expense	0.22	0.03	0.13	0.15	0.21	0.27	0.12	0.28	0.33	0.37	0.11
EBIT Less CapEx to Interest Expense	0.26	0.00	0.08	0.20	0.36	0.35	0.15	0.33	0.41	0.46	0.13
NOPAT Less CapEx to Interest Expense	0.19	-0.01	0.04	0.15	0.29	0.25	0.11	0.25	0.31	0.35	0.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.16%	42.39%	46.95%	52.87%	49.42%	34.27%	34.91%	30.67%	27.85%	25.98%	27.62%
Augmented Payout Ratio	77.86%	74.55%	46.95%	52.87%	49.42%	34.27%	34.91%	30.67%	27.85%	25.98%	27.62%

Financials Breakdown Chart

Key Financial Trends

Meridian Bank (NASDAQ: MRBK) showed a much weaker start to 2026, with first-quarter earnings and cash generation both down sharply from the same period a year ago. The bank remained profitable, but credit costs rose meaningfully and operating cash flow fell into the low single-digit millions.

Quarter-over-quarter trends are also less encouraging. Compared with Q4 2025, Q1 2026 saw a steep drop in net income, lower revenue, and a swing from positive operating cash flow to a much smaller figure. The balance sheet also shows continued growth in loans and deposits, but equity declined modestly from the prior quarter.

Loan and deposit growth continued: Total loans and leases rose to $2.18 billion from $2.17 billion in Q3 2025, while total deposits increased to about $2.17 billion from $2.13 billion in the prior quarter.
Non-interest income held up better than interest income: Q1 2026 non-interest income was $7.0 million, supported by trust fees, service charges, and other income streams.
Liquidity remains solid: Meridian Bank ended Q1 2026 with $12.5 million in cash and due from banks plus $15.8 million in interest-bearing deposits at other banks.
Net interest income was still substantial: The bank generated $23.2 million of net interest income in Q1 2026, although that was slightly below the prior quarter.
Share count was relatively stable: Diluted weighted-average shares were 12.15 million, up modestly from 11.54 million in Q3 2025.
Book value base remains intact: Total common equity was $200.2 million at March 31, 2026, providing a buffer above liabilities.
Earnings fell sharply year over year: Net income declined to $2.0 million from $6.7 million in Q1 2025 and $7.2 million in Q4 2025.
Operating cash flow weakened: Net cash from operating activities was only $2.9 million in Q1 2026, down from $24.4 million in Q3 2025 and $18.1 million in Q1 2025.
Credit loss provision jumped: Provision for loan losses/credit losses surged to $7.5 million in Q1 2026, well above $3.3 million in Q4 2025 and $2.9 million in Q1 2025.
Net cash declined overall: The company reported a net cash outflow of $7.5 million for the quarter, reflecting heavy investment activity and weaker operating cash generation.

Bottom line: Meridian Bank is still profitable and growing its loan book, but Q1 2026 looks like a softer quarter with higher credit costs and weaker cash generation. For retail investors, the key question is whether this is a temporary normalization after a strong 2025 or the start of a more pressured earnings trend.

07/10/26 09:40 PM ETAI Generated. May Contain Errors.

Meridian Bank Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Meridian Bank's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Meridian Bank's net income appears to be on an upward trend, with a most recent value of $21.84 million in 2025, rising from $3.03 million in 2017. The previous period was $16.35 million in 2024. Find out what analysts predict for Meridian Bank in the coming months.

Over the last 8 years, Meridian Bank's total revenue changed from $65.64 million in 2017 to $126.86 million in 2025, a change of 93.3%.

Meridian Bank's total liabilities were at $2.36 billion at the end of 2025, a 6.7% increase from 2024, and a 213.0% increase since 2017.

In the past 8 years, Meridian Bank's cash and equivalents has ranged from $3.97 million in 2021 to $34.19 million in 2020, and is currently $10.36 million as of their latest financial filing in 2025.

Over the last 8 years, Meridian Bank's book value per share changed from 0.00 in 2017 to 17.34 in 2025, a change of 1,734.0%.

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Financial statements for NASDAQ:MRBK last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Meridian Bank (MRBK) Financials

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Meridian Bank (MRBK) Financials

Annual Income Statements for Meridian Bank

Quarterly Income Statements for Meridian Bank

Annual Cash Flow Statements for Meridian Bank

Quarterly Cash Flow Statements for Meridian Bank

Annual Balance Sheets for Meridian Bank

Quarterly Balance Sheets for Meridian Bank

Annual Metrics And Ratios for Meridian Bank

Quarterly Metrics And Ratios for Meridian Bank

Financials Breakdown Chart

Key Financial Trends

Meridian Bank Financials - Frequently Asked Questions

When does Meridian Bank's fiscal year end?

How has Meridian Bank's net income changed over the last 8 years?

How has Meridian Bank's revenue changed over the last 8 years?

How much debt does Meridian Bank have?

How much cash does Meridian Bank have?

How has Meridian Bank's book value per share changed over the last 8 years?

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