Meridian Corporation (Nasdaq: MRBK) reported a net income of $6.7 million for the quarter ended September 30, 2025, with diluted earnings per share of $0.58, up 19% from the prior quarter. Pre-provision net revenue was $11.5 million, a 35% improvement from the same quarter in 2024. Total assets were $2.5 billion at the end of September 2025. Commercial loans increased by 3% from the prior quarter.

CEO Christopher J. Annas stated that Meridian’s third-quarter earnings rose due to improved margin and strong loan growth. The net interest margin increased to 3.77%, up from 3.20% in Q3 2024. The bank’s wealth and mortgage units had profitable quarters, while expenses remained flat. Meridian aims to capitalize on market acquisitions and reduced competition.

Interest income increased by $1.9 million due to higher yields and increased average balances of interest-earning assets. Total loans, excluding residential loans for sale, increased by $33.3 million, driven by commercial and real estate loans. Interest expense decreased by $59 thousand, with a decline in the cost of deposits and borrowings. The net interest margin increased to 3.77%.

The provision for credit losses decreased to $2.9 million in the third quarter, down from $3.8 million in the second quarter. Non-interest income decreased by $1.3 million, mainly due to declines in SBA loan income and net gain on sale of MSRs. Non-interest expenses increased slightly by $189 thousand from the prior quarter.

Asset quality deteriorated, with non-performing loans increasing to $55.4 million. Net charge-offs decreased to $1.9 million, mainly from SBA loans and commercial loans. The allowance for credit losses increased slightly to 1.01% of total loans held for investment. Meridian continues to monitor non-performing loans closely.

Meridian Corporation’s non-GAAP measures show a strong performance, with pre-provision net revenue of $11.5 million for the third quarter. The bank’s tangible common equity ratio and tangible book value per common share demonstrate financial strength and stability. For more information, contact Christopher J. Annas at 484.568.5001 or [email protected].

Read more at GlobeNewswire: Meridian Corporation Reports Third Quarter 2025 Results and