Meridian Corporation Declares $0.14 Quarterly Dividend
Meridian Corporation (NASDAQ: MRBK), a Pennsylvania-based community bank, announced a quarterly cash dividend of $0.14 per share. The dividend is payable to shareholders of record as of May 4, 2026.
Meridian Corporation (NASDAQ: MRBK), a Pennsylvania-based community bank, declared a quarterly cash dividend of $0.14 per common share on April 23, 2026. The payment will go to shareholders of record as of May 4, 2026, with checks scheduled to be mailed on May 11, 2026. Read more dividend announcements.
The dividend announcement came alongside the company's first quarter 2026 earnings release, which showed net income of $4.7 million, or $0.39 per diluted share. That represented a decline of $2.5 million from the prior quarter but nearly doubled the $2.4 million earned in the first quarter of 2025.
| Dividend Details | Information |
|---|---|
| Amount | $0.14 per share |
| Record Date | May 4, 2026 |
| Payment Date | May 11, 2026 |
| Frequency | Quarterly |
First Quarter Financial Performance
Meridian reported total assets of $2.6 billion at March 31, 2026, flat from December 31, 2025 and up from $2.5 billion a year earlier. Commercial loans, excluding leases, increased $17.9 million during the quarter, representing 1% growth from the prior quarter.
The company's net interest margin improved to 3.82% in the first quarter of 2026, up from 3.46% in the same period last year. Pre-provision net revenue reached $10.1 million for the quarter, an improvement of $1.7 million, or 21%, from the first quarter of 2025.
Return on average assets stood at 0.74% for the first quarter, while return on average equity was 9.44%. The loan yield declined to 7.03% during the quarter, while the cost of funds fell to 3.04%.
Chairman and CEO Christopher J. Annas noted that the margin improvement came from deposit repricing and repositioning in the deposit base. He acknowledged elevated credit costs during the quarter, driven largely by charge-offs in the company's SBA and leasing portfolios from loans originated during 2020 and 2021.