Here are 1-3 brief analogies for Meridian (MRBK):

• PNC Bank for the Philadelphia suburbs.
• A localized M&T Bank for the Greater Philadelphia area.
• A community-centric Citizens Bank for the Delaware Valley.

• Commercial Banking Services: Provides businesses with a range of financial products, including commercial loans, lines of credit, deposit accounts, and treasury management solutions.
• Personal Banking Services: Offers individuals deposit products like checking, savings, and certificates of deposit, alongside various consumer loans such as mortgages, home equity, and auto loans.
• Wealth Management Services: Delivers comprehensive financial planning, investment management, and trust and estate planning services to high-net-worth individuals and families.

• Commercial Real Estate Investors and Developers: Companies engaged in the acquisition, development, and management of various types of commercial properties, including multi-family residential, office, retail, and industrial spaces. These customers seek financing for property purchases, construction, and refinancing.
• Small to Medium-Sized Businesses (Commercial & Industrial): Businesses across a diverse range of industries that require financing for working capital, equipment purchases, expansion projects, and other operational needs.
• Construction Companies: Firms involved in commercial and residential construction projects, seeking project-specific financing for land development, building construction, and infrastructure improvements.

Christopher J. Annas, Founder, Chairman, President and Chief Executive Officer

Mr. Annas founded Meridian Bank in 2004 and Meridian Corporation in 2009, currently serving as its Chairman, President, and CEO. Before establishing Meridian, he was the President, CEO, and co-founder of Community Bank of Chester County (also referred to as Stonebridge Bank). He also previously served as Regional Vice President for Summit Bank, where he led small business lending efforts in the Delaware Valley and managed large corporate lending in Pennsylvania and Southern New Jersey, as well as the national media communications business. He has over 45 years of experience in banking.

Denise Lindsay, Executive Vice President, Chief Financial Officer and Director

Ms. Lindsay is responsible for financial reporting, investor relations, risk management, asset-liability management, treasury, forecasting, and budgeting at Meridian Corporation. Prior to joining Meridian, she was the Vice President and Controller of DNB First from 1992 to 2004. Before that, she worked as a Senior Accountant for KPMG, LLP. Ms. Lindsay is a Certified Public Accountant with 35 years of experience in bank financial management.

Clarence A. Martindell, Executive Vice President, Commercial Real Estate Lending

Mr. Martindell serves as the Executive Vice President of Commercial Real Estate Lending at Meridian.

T. Benjamin Marsho, EVP, Chief Risk Officer

Mr. Marsho holds the position of Executive Vice President and Chief Risk Officer at Meridian.

Michael Joseph Curry, Counsel and Corporate

Mr. Curry is listed as Counsel and Corporate for Meridian Corporation.

Regional Banking: The addressable market size for regional banking services in the U.S., encompassing various commercial and retail banking products such as deposits and commercial and industrial loans, is estimated at $406.5 billion in 2025.

Commercial Real Estate Lending: The addressable market size for commercial real estate and multifamily loan originations in the U.S. is projected to reach $583 billion in 2025.

Home Mortgages: The addressable market size for mortgage originations in the U.S. was approximately $1.69 trillion in 2024.

Wealth Management: null

Expected Drivers of Future Revenue Growth for Meridian Corporation (MRBK)

Over the next 2-3 years, Meridian Corporation (MRBK) is anticipated to drive future revenue growth through several key areas:

1. Strong Loan Growth, particularly in Commercial and Real Estate segments: Meridian has demonstrated robust loan growth, with commercial loans showing consistent increases. The company continues to prioritize growth in its principal commercial/industrial and real estate segments and predicts annual loan growth between 8-10%.
2. Net Interest Margin (NIM) Expansion: Meridian has seen an improving net interest margin, which management attributes to higher loan yields. The company also has an opportunity to further expand its margin by lowering deposit costs as time deposits mature.
3. Growth in Mortgage Banking Income: Despite market fluctuations, Meridian's mortgage banking activities have contributed to revenue, with periods of increased originations and improved margins.
4. Expansion of Wealth Management Income: Meridian has observed a rise in wealth management income, indicating this segment as a contributor to non-interest income growth.
5. Capitalizing on Market Consolidation: Management expects to leverage market consolidation and reduced competition within its primary metropolitan operating areas to its advantage, potentially leading to increased market share and revenue.

Meridian (MRBK) Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

• Meridian Corporation adopted a stock repurchase plan on April 22, 2021.
• The company's Board of Directors authorized an increase in the repurchase plan to up to $20 million of its outstanding common stock over a two-year period, announced on August 30, 2021.
• Prior to the August 2021 increase, approximately $5.4 million remained available for repurchases under the April 2021 plan.

Capital Expenditures

• Meridian reported capital expenditures of -$1.68 million in the last 12 months.