MRBK

MKT CAP:$221M

Meridian Corporation

Market Cap

$221M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$20.30+$3.18 (+18.59%)

Apr 21, 2026

Company Details

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, and Maryland. The company offers various deposit products, such as demand n...

CEO

Christopher J. Annas

IPO Date

Nov 7, 2017

Website

www.meridianbanker.com

Key Metrics TTM

Revenue

$207M

+4.1% YoY

Net Income

$24M

EPS (Diluted)

$2.07

Free Cash Flow

$5M

Revenue / Share

$17.01

Gross Margin

58.1%

Operating Margin

15.2%

Net Margin

11.7%

FCF Margin

2.6%

P/S

1.1x

P/E

9.2x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$48M+2.7%EPS $0.39

FY 2025

Mar 13, 2026

$205M+4.1%EPS $1.89

Q4 2025

Mar 13, 2026

$53M+0.2%EPS $0.61

Q3 2025

Nov 7, 2025

$53M+3.7%EPS $0.58

Q2 2025

Aug 8, 2025

$52M+10.0%EPS $0.49

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$30M	$27M	$8M
Q3 22	$33M	$28M	$7M
Q4 22	$36M	$26M	$6M
Q1 23	$38M	$23M	$5M
Q2 23	$43M	$26M	$6M
Q3 23	$44M	$25M	$5M
Q4 23	$44M	$20M	$726.0K
Q1 24	$45M	$22M	$4M
Q2 24	$48M	$23M	$4M
Q3 24	$51M	$27M	$6M
Q4 24	$53M	$29M	$8M
Q1 25	$46M	$22M	$3M
Q2 25	$52M	$29M	$7M
Q3 25	$53M	$30M	$9M
Q4 25	$53M	$31M	$9M
Q1 26	$48M	$30M	$6M

Valuation

Quarter	P/S	P/E
Q2 22	1.6x	7.7x
Q3 22	1.7x	8.9x
Q4 22	1.7x	10.1x
Q1 23	1.6x	10.9x
Q2 23	1.5x	11.6x
Q3 23	1.4x	12.8x
Q4 23	1.3x	16.7x
Q1 24	1.3x	18.6x
Q2 24	1.2x	20.9x
Q3 24	1.2x	19.5x
Q4 24	1.1x	13.5x
Q1 25	1.1x	13.8x
Q2 25	1.1x	12.1x
Q3 25	1.1x	10.9x
Q4 25	1.1x	10.1x
Q1 26	1.1x	9.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$6M	$6M
Q2 22	$29M	$28M
Q3 22	$28M	$27M
Q4 22	$21M	$20M
Q1 23	-$11M	-$12M
Q2 23	-$145.0K	-$462.0K
Q3 23	$23M	$22M
Q4 23	$8M	$7M
Q1 24	-$2M	-$4M
Q2 24	-$19M	-$19M
Q3 24	$31M	$33M
Q4 24	-$704.0K	-$1M
Q1 25	$18M	$18M
Q2 25	-$12M	-$13M
Q3 25	$24M	$24M
Q4 25	-$23M	-$24M

Capital Expenditures

Quarter	CapEx
Q1 22	$77.0K
Q2 22	$951.0K
Q3 22	$992.0K
Q4 22	$887.0K
Q1 23	$284.0K
Q2 23	$317.0K
Q3 23	$479.0K
Q4 23	$743.0K
Q1 24	$2M
Q2 24	$54.0K
Q3 24	$2M
Q4 24	$346.0K
Q1 25	$259.0K
Q2 25	$631.0K
Q3 25	$448.0K
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-22.4%	-19.9%
Q3 22	-17.9%	-8.6%
Q4 22	+1.2%	+18.1%
Q1 23	+21.0%	+35.4%
Q2 23	+41.1%	+62.6%
Q3 23	+31.2%	+49.1%
Q4 23	+24.3%	+45.6%
Q1 24	+20.3%	+28.3%
Q2 24	+11.1%	+16.9%
Q3 24	+17.5%	+17.1%
Q4 24	+19.9%	+4.5%
Q1 25	+2.9%	+4.1%
Q2 25	+10.0%	+4.4%
Q3 25	+3.7%	-1.1%
Q4 25	+0.2%	-3.4%
Q1 26	+2.7%	-3.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$260.0K	0.8%
Q2 22	$94.0K	0.3%
Q3 22	$377.0K	1.1%
Q4 22	$744.0K	2.1%
Q1 23	$277.0K	0.7%
Q2 23	$157.0K	0.4%
Q3 23	$81.0K	0.2%
Q4 23	$658.0K	1.5%
Q1 24	$142.0K	0.3%
Q2 24	$111.0K	0.2%
Q3 24	$66.0K	0.1%
Q4 24	$657.0K	1.2%
Q1 25	$118.0K	0.3%
Q2 25	$56.0K	0.1%
Q3 25	$102.0K	0.2%
Q4 25	$913.0K	1.7%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$13M	$1M
Q3 22	$13M	$1M
Q4 22	$13M	$996.0K
Q1 23	$11M	$861.0K
Q2 23	$12M	$1M
Q3 23	$12M	$848.0K
Q4 23	$15M	$931.0K
Q1 24	$11M	$748.0K
Q2 24	$11M	$989.0K
Q3 24	$1M	$717.0K
Q4 24	$12M	$839.0K
Q1 25	$11M	$779.0K
Q2 25	$13M	$1M
Q3 25	$14M	$877.0K
Q4 25	$14M	—
Q1 26	$19M	$692.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$37M	$129M	$166M
Q3 22	$33M	$128M	$161M
Q4 22	$38M	$135M	$174M
Q1 23	$109M	$143M	$251M
Q2 23	$47M	$127M	$174M
Q3 23	$60M	$122M	$182M
Q4 23	$57M	$146M	$203M
Q1 24	$23M	$151M	$174M
Q2 24	$24M	$159M	$183M
Q3 24	$32M	$172M	$204M
Q4 24	$27M	$78M	$106M
Q1 25	$131M	$86M	$217M
Q2 25	$50M	$86M	$137M
Q3 25	$40M	$94M	$134M
Q4 25	$10M	$193M	$204M
Q1 26	$28M	$0	$28M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	12M	-1.0%	-0.1%
Q3 22	12M	-2.3%	-2.8%
Q4 22	12M	-2.7%	-5.0%
Q1 23	12M	-1.2%	-6.9%
Q2 23	11M	-3.0%	-8.8%
Q3 23	11M	+0.5%	-6.2%
Q4 23	11M	-1.4%	-5.0%
Q1 24	11M	-0.0%	-3.9%
Q2 24	11M	-0.5%	-1.4%
Q3 24	11M	+0.8%	-1.1%
Q4 24	11M	+1.3%	+1.5%
Q1 25	11M	+0.6%	+2.2%
Q2 25	11M	-0.3%	+2.4%
Q3 25	12M	+1.1%	+2.7%
Q4 25	12M	+2.0%	+3.5%
Q1 26	12M	+3.2%	+6.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$73.7K	413
Q3 22	$80.3K	413
Q4 22	$97.7K	366
Q1 23	$102.7K	366
Q2 23	$117.4K	366
Q3 23	$119.0K	366
Q4 23	$137.2K	324
Q1 24	$139.5K	324
Q2 24	$147.3K	324
Q3 24	$157.9K	324
Q4 24	$165.6K	322
Q1 25	$144.4K	322
Q2 25	$163.0K	322
Q3 25	$164.8K	322
Q4 25	$163.4K	327
Q1 26	$146.0K	327

Revenue / Employee