← Meridian Corp
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | $8.2m | $10.5m | $26.4m | $35.6m | $21.8m | $13.2m | $16.3m | $21.8m | |
| Net amortization of investment premiums and discounts and change in fair value of equity securities | — | $1.0m | $425k | $1.4m | $1.2m | $2.4m | $4.0m | $1.7m | |
| Depreciation and amortization (accretion), net | — | $663k | ($2.9m) | ($5.9m) | ($1.4m) | $432k | $818k | ($292k) | |
| Amortization of issuance costs on subordinated debt | — | — | $112k | $118k | $117k | $87k | $122k | $123k | |
| Amortization and net impairment of servicing rights | — | $204k | $816k | $1.1m | $2.5m | $2.0m | $1.5m | ($529k) | |
| Increase in deferred income tax | ($385k) | ($503k) | $1.3m | ($768k) | $1.1m | ($234k) | ($799k) | ($373k) | |
| Provision for credit losses | — | — | — | — | $2.5m | $6.8m | $11.4m | $15.2m | |
| Stock based compensation | — | $272k | $763k | $1.6m | $1.5m | $1.2m | $976k | $1.2m | |
| Net change in fair value of derivative instruments | $161k | ($111k) | ($5.0m) | $4.3m | $703k | ($91k) | ($30k) | ($373k) | |
| Net change in fair value of loans held for sale | ($7k) | $13k | ($3.8m) | $3.3m | $844k | ($32k) | $25k | ($310k) | |
| Net change in fair value of loans held for investment | — | — | ($323k) | $189k | $2.4m | ($132k) | ($214k) | ($659k) | |
| Net gain on sale of MSRs | — | — | — | — | — | $0 | ($4.0m) | ($403k) | |
| Gain on sale of OREO | ($57k) | — | ($6k) | — | — | $0 | ($317k) | ($15k) | |
| SBA loan income | — | ($1.4m) | ($2.7m) | ($6.9m) | ($4.5m) | ($4.5m) | ($3.5m) | ($5.5m) | |
| Proceeds from sale of loans | $660.3m | $607.1m | $2.2b | $2.5b | $1.1b | $657.6m | $807.8m | $800.6m | |
| Loans originated for sale | ($633.2m) | ($573.4m) | ($2.4b) | ($2.3b) | ($1.0b) | ($645.4m) | ($794.4m) | ($780.8m) | |
| Mortgage banking income | ($26.2m) | ($26.2m) | ($77.1m) | ($75.9m) | ($25.3m) | ($16.5m) | ($21.0m) | ($20.8m) | |
| Increase in accrued interest receivable | ($353k) | ($259k) | ($2.3m) | $473k | ($2.4m) | ($2.0m) | ($633k) | ($766k) | |
| Lease early termination | — | — | — | — | — | $0 | $1.1m | $0 | |
| Increase in other assets | ($402k) | $276k | $3.3m | ($3.7m) | ($823k) | ($2.0m) | ($4.6m) | ($6.9m) | |
| Earnings from investment in bank owned life insurance | ($300k) | ($290k) | ($279k) | ($365k) | ($553k) | ($789k) | ($868k) | ($956k) | |
| Decrease in accrued interest payable | $89k | $783k | $66k | ($1.1m) | $2.4m | $7.9m | ($3.5m) | ($329k) | |
| Increase (decrease) in other liabilities | ($286k) | $2.4m | $11.0m | ($1.6m) | ($1.6m) | ($1.3m) | ($760k) | $3.1m | |
| Maturities, repayments and calls | $6.1m | $14.0m | $2.1m | $10.4m | $905k | $1.4m | $1.7m | $3.0m | |
| Sales | $0 | $24.6m | $45.9m | $23.6m | $0 | $13.5m | $16.0m | $14.4m | |
| Purchases | ($17.1m) | ($44.7m) | ($114.5m) | ($74.3m) | ($5.5m) | $0 | ($66.8m) | ($2.0m) | |
| Proceeds from sale of OREO | $494k | — | $126k | — | — | $0 | $1.9m | $15k | |
| Proceeds from sale of MSRs | — | — | — | — | — | $0 | $9.9m | $1.4m | |
| Net increase in loans | ($146.1m) | ($135.2m) | ($312.4m) | ($87.6m) | ($359.5m) | ($152.6m) | ($147.3m) | ($270.7m) | |
| Purchases of premises and equipment | ($1.6m) | ($746k) | ($747k) | ($5.4m) | ($2.9m) | ($1.8m) | ($568k) | ($1.7m) | |
| Net purchase of bank owned life insurance | — | — | — | ($10.0m) | ($5.0m) | $0 | $0 | ($19k) | |
| Disposal of premise and equipment | — | — | — | — | — | — | $0 | $40k | |
| Net increase in deposits | $125.0m | $99.0m | $390.2m | $205.1m | $266.1m | $111.0m | $181.9m | $152.8m | |
| Increase (decrease) in short-term borrowings | — | $9.4m | ($922k) | ($20.6m) | $71.8m | $28.1m | ($42.6m) | $8.1m | |
| Decrease in long-term debt | — | — | $162.4m | ($165.5m) | $0 | — | ($7.8m) | ($15.2m) | |
| Stock based awards and exercises | $140k | $6k | $395k | $1.1m | $754k | $309k | $499k | $885k | |
| Shares purchased for ESOP plan | — | — | ($2.0m) | — | — | — | $0 | ($425k) | |
| Interest | $11.3m | $15.7m | $13.6m | $9.5m | $16.2m | $59.7m | $88.5m | $79.0m | |
| Federal | — | — | — | — | — | — | $2.5m | $10.2m | |
| State | — | — | — | — | — | — | $583k | $989k | |
| Carrying value of residential portfolio loans sold | — | — | — | — | — | — | $0 | $24.5m | |
| Net loans sold, not settled | — | ($9.3m) | — | — | — | $0 | $9.7m | $1.8m | |
| Non-cash transfers from loans receivable to OREO | — | $120k | — | $0 | $1.7m | $0 | $0 | $3.6m | |
| Non-cash transfers from loans receivable to repossessed assets | — | — | — | — | — | — | $0 | $2.4m | |
| Total Income taxes | $2.7m | $2.6m | $5.3m | $14.1m | $5.4m | $3.1m | $3.1m | $11.2m | |
| Net cash provided by operating activities | $11.0m | $21.6m | ($158.1m) | $165.1m | $84.7m | $18.9m | $9.6m | $24.3m | |
| Net purchases of restricted investments in bank stocks | ($188k) | ($1.1m) | $211k | $2.7m | ($1.8m) | ($1.1m) | $319k | ($58k) | |
| (Gain) loss on sale of investment securities available-for-sale | — | ($165k) | ($1.3m) | ($435k) | $0 | $58k | $57k | ($501k) | |
| Proceeds from sale of loans held for investment | — | — | — | — | — | — | $59.4m | $122.7m | |
| Net cash used in investing activities | ($155.6m) | ($143.1m) | ($371.0m) | ($140.5m) | ($393.1m) | ($164.2m) | ($165.0m) | ($163.9m) | |
| Repayment of subordinated debt | ($4.1m) | ($7.4m) | ($172k) | ($281k) | ($279k) | ($328k) | ($215k) | ($13k) | |
| Proceeds from issuance of common stock | — | — | — | — | — | — | $0 | $7.5m | |
| Dividends paid | — | — | ($1.5m) | ($9.7m) | ($10.9m) | ($5.6m) | ($5.6m) | ($5.7m) | |
| Net cash provided by financing activities | $133.0m | $136.9m | $526.5m | ($37.9m) | $323.4m | $163.6m | $126.2m | $147.9m | |
| Net change in cash and cash equivalents | ($11.6m) | $15.4m | ($2.6m) | ($13.3m) | $14.9m | $18.3m | ($29.2m) | $8.3m | |
| Cash and cash equivalents at beginning of period | $35.5m | $24.0m | $39.4m | $36.7m | $23.5m | $38.4m | $56.7m | $35.8m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.