MRBK 8-K
Meridian Corp (MRBK)
8-K
2026-07-30
For: 2026-07-30
View Original
Added on
July 30, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Ident. No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||
(484) 568-5000 Registrant’s telephone number, including area code | ||||||||||||||
| Not Applicable | ||||||||||||||
| (Former name or former address, if changed since last report.) | ||||||||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class: | Trading Symbol(s) | Name of each exchange on which registered: | ||||||||||||
Item 2.02. Results of Operations and Financial Condition.
On July 30, 2026 Meridian Corporation issued a press release discussing the Corporation’s Second Quarter 2026 Results. A copy is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto and incorporated by reference into Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibit attached hereto, shall not be deemed incorporated by reference into any of the Corporation’s reports or filings with the SEC under the Securities Exchange Act of 1933, as amended (the "Securities Act"), or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing. The information in this Current Report on Form 8-K, including the exhibit attached hereto, shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 7.01. Regulation FD Disclosures.
In connection with the issuance of its earnings for the three months ended June 30, 2026, Meridian Corporation has also made available on its website materials that contain supplemental information about the Corporation's financial results (“Earnings Supplement”). A copy of the earnings supplement is attached hereto as Exhibit 99.2 and is incorporated by reference in this Item 7.01. The information contained in this Item 7.01 of this Report on Form 8-K, including Exhibit 99.2, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 8.01. Other Events.
Quarterly Dividend
On July 30, 2026, Meridian Corporation’s Board of Directors declared a quarterly cash dividend of $0.14 per common share, payable August 17, 2026, to shareholders of record as of August 10, 2026.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is furnished herewith:
99.1 Press Release, issued July 30, 2026
99.2 Earnings Supplement, issued July 30, 2026
EXHIBIT INDEX
| Exhibit No. | Description of Exhibit | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MERIDIAN CORPORATION (Registrant) | ||||||||||||||
Dated: July 30, 2026 | ||||||||||||||
| By: | /s/ Denise Lindsay | |||||||||||||
| Denise Lindsay | ||||||||||||||
| Executive Vice President and Chief Financial Officer | ||||||||||||||
Exhibit 99.1
Meridian Corporation Reports Second Quarter 2026 Results and Announces a Quarterly Dividend of $0.14 per Common Share.
MALVERN, PA., July 30, 2026 — Meridian Corporation (Nasdaq: MRBK) today reported:
| Three Months Ended | |||||||||||||||||
| (Dollars in thousands, except per share data)(Unaudited) | June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||||||||
Income: | |||||||||||||||||
Net income | $ | 5,807 | $ | 2,006 | $ | 5,592 | |||||||||||
| Diluted earnings per common share | 0.48 | 0.17 | 0.49 | ||||||||||||||
Pre-provision net revenue (PPNR) (1) | 10,447 | 10,081 | 11,090 | ||||||||||||||
(1) See Non-GAAP reconciliation in the Appendix | |||||||||||||||||
•Net income for the quarter ended June 30, 2026 was $5.8 million, or $0.48 per diluted share, an increase of $3.8 million, or 189.5%, from the prior quarter.
•Pre-provision net revenue1 for the quarter was $10.4 million, an increase of $366 thousand, or 3.6%, from the prior quarter.
•Return on average assets and return on average equity for the second quarter of 2026 were 0.90% and 11.42%, respectively.
•Total assets at June 30, 2026 were $2.6 billion, compared to $2.6 billion at March 31, 2026 and $2.5 billion at June 30, 2025.
•Commercial loans, excluding leases, increased $4.6 million, or 0.3% from prior quarter.
•On July 30, 2026, the Board of Directors declared a quarterly cash dividend of $0.14 per common share, payable August 17, 2026 to shareholders of record as of August 10, 2026.
Christopher J. Annas, Chairman and CEO commented:
“The Meridian team delivered a strong second quarter performance, earning $5.8 million vs $2.0 million in the prior quarter. Net interest margin was steady at 3.69%, and the provision was markedly lower against an elevated provision in the prior quarter. Pre-provision net revenue of $10.4 million was up nearly 3.6% from prior quarter. Commercial loan growth for the quarter would have been $54 million, or 3.0%, if not for commercial loan and CRE loan payoffs of $38 million, as well as SBA loan sales in the current quarter of $11.9 million.
SBA loan sale income of $615 thousand is up from last quarter and should be more consistent as we adjust that business model. The mortgage group is still impacted by low inventory, but mortgage banking income was up 6% from Q2 2025. Mortgage third quarter originations look promising, but refi activity has fallen as rates have ticked up.
We had a large increase in the non-performing loans due to three real estate relationships, but our substantial collateral position in these three loans negated the need for any current provisioning. We are working tirelessly to resolve the non-performing loans, but also recognize that our historical loan growth rate and small/medium business focus can often lead to periods of elevated non-performing loans. Our task is to keep the charge-off percentage low, which we have. We also have two businesses, SBA and equipment finance, that have generally higher charge-offs than normal commercial/industrial lending, but we earn higher yields on those assets that offset the charge-offs.
We have hired an experienced payments team that has strong background in merchant acquiring, health savings accounts and the new capabilities of FedNow and RTP. With their industry contacts and qualifications, we are hoping to build a stronger deposit franchise and build fee income in that space. Payment methods are evolving rapidly and we are excited about the unique opportunities they could provide."
1
Exhibit 99.1
Select Condensed Financial Information
As of or for the three months ended (Unaudited) | |||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||||||||||||||
| Income: | |||||||||||||||||||||||||||||
Net income | $ | 5,807 | $ | 2,006 | $ | 7,186 | $ | 6,659 | $ | 5,592 | |||||||||||||||||||
| Basic earnings per common share | 0.49 | 0.17 | 0.62 | 0.59 | 0.50 | ||||||||||||||||||||||||
| Diluted earnings per common share | 0.48 | 0.17 | 0.61 | 0.58 | 0.49 | ||||||||||||||||||||||||
Net interest income | 22,791 | 23,202 | 23,627 | 23,116 | 21,159 | ||||||||||||||||||||||||
| Balance Sheet: | |||||||||||||||||||||||||||||
| Total assets | $ | 2,593,176 | $ | 2,576,581 | $ | 2,561,995 | $ | 2,541,130 | $ | 2,510,938 | |||||||||||||||||||
Loans, net of fees and costs | 2,177,978 | 2,181,575 | 2,170,600 | 2,162,845 | 2,108,250 | ||||||||||||||||||||||||
| Total deposits | 2,194,438 | 2,169,960 | 2,158,128 | 2,131,116 | 2,110,374 | ||||||||||||||||||||||||
| Non-interest bearing deposits | 246,357 | 243,458 | 245,377 | 239,614 | 237,042 | ||||||||||||||||||||||||
Stockholders' equity | 204,810 | 200,225 | 199,716 | 188,029 | 178,020 | ||||||||||||||||||||||||
Balance Sheet Average Balances: | |||||||||||||||||||||||||||||
| Total assets | $ | 2,585,821 | $ | 2,574,268 | $ | 2,588,357 | $ | 2,534,565 | $ | 2,491,625 | |||||||||||||||||||
| Total interest earning assets | 2,485,398 | 2,472,659 | 2,495,922 | 2,443,261 | 2,404,952 | ||||||||||||||||||||||||
Loans, net of fees and costs | 2,180,863 | 2,175,938 | 2,200,626 | 2,146,651 | 2,113,411 | ||||||||||||||||||||||||
| Total deposits | 2,188,649 | 2,171,837 | 2,173,242 | 2,143,821 | 2,095,028 | ||||||||||||||||||||||||
| Non-interest bearing deposits | 252,600 | 250,203 | 256,554 | 253,374 | 249,745 | ||||||||||||||||||||||||
Stockholders' equity | 203,901 | 202,577 | 192,799 | 183,242 | 176,945 | ||||||||||||||||||||||||
| Performance Ratios (Annualized): | |||||||||||||||||||||||||||||
Return on average assets | 0.90 | % | 0.32 | % | 1.10 | % | 1.04 | % | 0.90 | % | |||||||||||||||||||
Return on average equity | 11.42 | % | 4.02 | % | 14.79 | % | 14.42 | % | 12.68 | % | |||||||||||||||||||
Income Statement - Second Quarter 2026 Compared to First Quarter 2026
Second quarter net income increased $3.8 million, or 189.5%, to $5.8 million due largely to an increase in non-interest income of $2.8 million, and a decrease of $4.5 million in the provision for credit losses, while non-interest expense increased $2.1 million over the prior quarter, and income tax expense increased $1.1 million over the prior quarter as well. Detailed explanations of the major categories of income and expense follow below.
2
Exhibit 99.1
Net Interest income
The rate/volume analysis table below analyzes dollar changes in the components of interest income and interest expense as they relate to the change in balances (volume) and the change in interest rates (rate) of tax-equivalent net interest income for the periods indicated and allocated by rate and volume. Changes in interest income and/or expense related to changes attributable to both volume and rate have been allocated proportionately based on the relationship of the absolute dollar amount of the change in each category.
| Three Months Ended | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | June 30, 2026 | March 31, 2026 | $ Change | % Change | Change due to rate | Change due to volume | |||||||||||||||||||||||||||||
| Interest income: | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 311 | $ | 398 | $ | (87) | (21.9) | % | $ | (2) | $ | (85) | |||||||||||||||||||||||
| Investment securities - taxable | 1,830 | 1,847 | (17) | (0.9) | % | (27) | 10 | ||||||||||||||||||||||||||||
Investment securities - tax exempt (1) | 393 | 396 | (3) | (0.8) | % | (2) | (1) | ||||||||||||||||||||||||||||
| Loans held for sale | 616 | 338 | 278 | 82.2 | % | 20 | 258 | ||||||||||||||||||||||||||||
| Loans held for investment | 37,702 | 37,806 | (104) | (0.3) | % | (245) | 141 | ||||||||||||||||||||||||||||
| Total loans | 38,318 | 38,144 | 174 | 0.5 | % | (225) | 399 | ||||||||||||||||||||||||||||
| Total interest income | $ | 40,852 | $ | 40,785 | $ | 67 | 0.2 | % | $ | (256) | $ | 323 | |||||||||||||||||||||||
| Interest expense: | |||||||||||||||||||||||||||||||||||
| Interest-bearing demand deposits | $ | 1,149 | $ | 1,040 | $ | 109 | 10.5 | % | $ | 13 | $ | 96 | |||||||||||||||||||||||
| Money market and savings deposits | 7,263 | 7,070 | 193 | 2.7 | % | 279 | (86) | ||||||||||||||||||||||||||||
| Time deposits | 7,337 | 7,113 | 224 | 3.1 | % | (22) | 246 | ||||||||||||||||||||||||||||
| Total interest - bearing deposits | 15,749 | 15,223 | 526 | 3.5 | % | 270 | 256 | ||||||||||||||||||||||||||||
| Borrowings | 1,233 | 1,293 | (60) | (4.6) | % | (13) | (47) | ||||||||||||||||||||||||||||
| Subordinated debentures | 1,007 | 994 | 13 | 1.3 | % | 10 | 3 | ||||||||||||||||||||||||||||
| Total interest expense | 17,989 | 17,510 | 479 | 2.7 | % | 267 | 212 | ||||||||||||||||||||||||||||
| Net interest income differential | $ | 22,863 | $ | 23,275 | $ | (412) | (1.77) | % | $ | (523) | $ | 111 | |||||||||||||||||||||||
| (1) Reflected on a tax-equivalent basis. | |||||||||||||||||||||||||||||||||||
Interest income increased $67 thousand quarter-over-quarter on a tax equivalent basis, driven mainly by an increase in loans held for sale and loans held for investment average balances. The yield on interest-earnings assets decreased 10 basis points and negatively impacted interest income by $256 thousand, while the average balance of interest earning assets increased by $12.7 million, having a positive impact to interest income of $323 thousand. The yield on loans dropped 14 basis points due to an interest reversal of $885 thousand related to new nonaccrual loans in the quarter.
Average total loans, excluding residential loans for sale, increased $4.9 million. The largest drivers were increases in commercial loans, commercial real estate loans and home equity loans, which on a combined basis increased $21.2 million on average. Partially offsetting these increases were decreases of $7.1 million in SBA loan average balances, a $2.7 million decrease in the average balance of residential loans held for investment, along with a decrease in average leases of $4.6 million. Also contributing to the increase in interest income was a $16.9 million increase in the average balance of loans held for sale.
Interest expense increased $479 thousand, quarter-over-quarter, due largely to an increase in the cost of interest-bearing deposits. Interest expense on total deposits increased $526 thousand, as interest expense on borrowings decreased $60 thousand. During the period average balances of interest-bearing checking accounts increased $11.8 million, time deposits increased $18.2 million, while money market and savings deposit balances decreased $15.6 million on average and borrowings decreased $5.0 million on average. The cost of deposits increased 5 basis points as interest-bearing demand deposits and money market accounts had a cost increase, partially offset by the decrease in the cost of time deposits.
Overall the net interest margin decreased to 3.69%, compared to the prior quarter, drive by the decline in yield on interest-earning assets and an increase in cost of funds.
Provision for Credit Losses
In the second quarter the overall provision for credit losses fell by $4.5 million to $3.0 million, compared with $7.5 million in the first quarter. The primary reason for the lower level of provision expense was less loan charge-offs and lower loan growth quarter over quarter. Excluding the prior quarter’s $3.9 million charge-off and related provision on a single commercial mortgage, charge-offs in the second quarter declined by $1.3 million driving down the provision. SBA and lease net charge-offs were together down $2.3 million compared to prior quarter.
3
Exhibit 99.1
Non-interest income
The following table presents the components of non-interest income for the periods indicated:
| Three Months Ended | |||||||||||||||||||||||
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | $ Change | % Change | |||||||||||||||||||
Mortgage banking income (1) | $ | 6,229 | $ | 4,115 | $ | 2,114 | 51.4 | % | |||||||||||||||
| Wealth management income | 1,706 | 1,729 | (23) | (1.3) | % | ||||||||||||||||||
| SBA loan income | 615 | 150 | 465 | 310.0 | % | ||||||||||||||||||
| Earnings on investment in life insurance | 245 | 272 | (27) | (9.9) | % | ||||||||||||||||||
| Net gain (loss) on sale of MSRs | — | (159) | 159 | (100.0) | % | ||||||||||||||||||
| Net change in the fair value of loans held-for-investment | 65 | (39) | 104 | (266.7) | % | ||||||||||||||||||
| Other | 1,023 | 969 | 54 | 5.6 | % | ||||||||||||||||||
| Total non-interest income | $ | 9,883 | $ | 7,037 | $ | 2,846 | 40.4 | % | |||||||||||||||
(1) Includes FV change on mortgages HFS and related hedging derivatives. | |||||||||||||||||||||||
Total non-interest income increased $2.8 million, or 40.4%, quarter-over-quarter largely due to a $2.1 million increase in mortgage banking income, and a $465 thousand increase in SBA loan income. Despite a quarter-over-quarter decrease of 33 basis points in the margin on mortgage loan sales, total loans sold increased by $81.1 million, or 20% from the prior quarter, resulting in a higher level of mortgage banking income, and the fair value of loans held for sale improved quarter-over-quarter as the loans available for sale at June 30, 2026 were up $15.9 million over March 31, 2026.
SBA loan income increased $465 thousand due to the increase in SBA loans sold. $11.9 million of loans were sold during the quarter-ended June 30, 2026 compared to $6.7 million for the quarter-ended March 31, 2026. However, the gross margin on SBA loan sales was 7.9% for the quarter-ended June 30, 2026 compared to 8.5% for the quarter-ended March 31, 2026.
Non-interest expense
The following table presents the components of non-interest expense for the periods indicated:
| Three Months Ended | |||||||||||||||||||||||
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | $ Change | % Change | |||||||||||||||||||
| Salaries and employee benefits | $ | 13,193 | $ | 12,386 | $ | 807 | 6.5 | % | |||||||||||||||
| Occupancy and equipment | 1,172 | 1,183 | (11) | (0.9) | % | ||||||||||||||||||
| Professional fees | 1,164 | 974 | 190 | 19.5 | % | ||||||||||||||||||
| Data processing and software | 2,018 | 1,973 | 45 | 2.3 | % | ||||||||||||||||||
| Advertising and promotion | 1,317 | 692 | 625 | 90.3 | % | ||||||||||||||||||
| Pennsylvania bank shares tax | 246 | 258 | (12) | (4.7) | % | ||||||||||||||||||
| Other | 3,117 | 2,692 | 425 | 15.8 | % | ||||||||||||||||||
| Total non-interest expense | $ | 22,227 | $ | 20,158 | $ | 2,069 | 10.3 | % | |||||||||||||||
Salaries and benefits increased $807 thousand primarily due to the variable nature of the mortgage segment along with higher incentive compensation overall. Advertising and promotion costs increased $625 thousand, reflecting an increase in business development efforts and special events in the current quarter, which is generally seasonally higher. Other expense increased $425 thousand mainly due to an increase in OREO expenses and non-salary employee expenses in the current quarter. The increase in professional fees was due to expenses related to non-performing loans.
Balance Sheet - June 30, 2026 Compared to March 31, 2026
Total assets increased $16.6 million, or 0.6%, to $2.6 billion as of June 30, 2026 from $2.6 billion as of March 31, 2026.
Total portfolio loans decreased $3.2 million, or 0.1% quarter-over-quarter. While there was growth of $41.2 million in commercial mortgage loans, $1.2 million in commercial & industrial loans, and $3.0 million in home equity lines and loans during the second quarter, these increases were offset by a $27.9 million decrease in construction and land development loans, a $9.9 million decrease in SBA loans, and a $5.7 million decrease in lease financings. Commercial loan growth was impacted by $9.9 million in commercial loan payoffs during the quarter.
Total deposits increased $24.5 million, or 1.1% quarter-over-quarter, led by an increase of $21.6 million in interest-bearing deposits. Money market accounts and savings accounts increased a combined $19.5 million, non-interest bearing accounts increased $2.9 million or 1.2%, while interest bearing demand deposits decreased $5.9 million, and borrowings decreased $12.8 million, or 10.6% quarter-over-quarter.
4
Exhibit 99.1
Total stockholders’ equity increased by $4.6 million from March 31, 2026, to $204.8 million as of June 30, 2026. Changes to equity for the quarter included net income of $5.8 million, and an increase of $146 thousand in other comprehensive income, partially offset by dividends paid of $1.7 million. The Community Bank Leverage Ratio for the Bank was 9.72% at June 30, 2026.
Asset Quality Summary
Non-performing loans increased $23.4 million, to $82.1 million at June 30, 2026 compared to $58.7 million at March 31, 2026, with the largest increases coming from land development loans ($20.0 million) and commercial mortgage loans ($5.5 million) that were downgraded during the current quarter partially offset by payoffs of $3.3 million of several CRE, construction and consumer loans combined. The downgraded land development and commercial mortgage loan relationships were well collateralized and therefore did not require any specific reserve as of June 30, 2026. SBA loans make up $24.6 million of total non-performing loans, with $11.9 million, or 48.4%, guaranteed by the SBA. The SBA portfolio was subject to the Fed's rapid rate increase with 49.7%, of total non-performing SBA loans having been originated in 2020-2021 when rates were lower by over 500 basis points.
The ratio of non-performing loans to total loans as of June 30, 2026 was 3.68%. Due to the increase in non-performing loans, the ratio of non-performing loans to total loans, excluding the guaranteed portion of the SBA portfolio was 3.14%. As of June 30, 2026 there were specific reserves of $3.3 million against individually evaluated loans, an increase of $428 thousand from the level of specific reserves as of March 31, 2026.
Net charge-offs decreased to $2.6 million, or 0.12% of total average loans for the quarter ended June 30, 2026, compared to net charge-offs of $7.8 million, or 0.35%, for the quarter ended March 31, 2026. Second quarter charge-offs consisted of $414 thousand in SBA loans, $1.0 million in commercial loans, $1.2 million in finance receivables, and $455 thousand of small ticket equipment leases. Partially offsetting second quarter charge-offs were recoveries of $467 thousand between commercial loans, finance receivables, home equity loans, and leases.
The ratio of allowance for credit losses to total loans held for investment was 0.99% as of June 30, 2026, compared to 0.98% reported as of March 31, 2026.
Subsequent to June 30, 2026, a property in OREO valued at $719 thousand sold for a recorded gain of $218 thousand.
About Meridian Corporation
Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware, Maryland, and Florida. Through its 17 offices, including banking branches and mortgage locations, Meridian offers a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, electronic payments, and wealth management solutions through Meridian Wealth Partners. Meridian also offers a broad menu of high-yield depository products supported by robust online and mobile access. For additional information, visit our website at www.meridianbanker.com. Member FDIC.
5
Exhibit 99.1
“Safe Harbor” Statement
In addition to historical information, this press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL, including the timing of third-party appraisals and loan valuations from lead financial institutions in which we are a loan participant; cyber-security concerns; rapid technological developments and changes, including the development and use of artificial intelligence in business processes, services, and products; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; escalating tariff and other trade policies and the resulting impacts on market volatility and global trade; the impact of uncertain or changing political conditions or any current or future federal government shutdown and uncertainty regarding the federal government's debt limit; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and military conflicts, including the ongoing conflict in the Middle East, which could impact economic conditions in the United States; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Meridian Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Meridian Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Meridian Corporation or by or on behalf of Meridian Bank.
6
Exhibit 99.1
-MERIDIAN CORPORATION AND SUBSIDIARIES
FINANCIAL RATIOS (Unaudited)
(Dollar amounts and shares in thousands, except per share amounts)
Three Months Ended | |||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
Earnings and Per Share Data: | |||||||||||||||||||||||||||||
| Net income | $ | 5,807 | $ | 2,006 | $ | 7,186 | $ | 6,659 | $ | 5,592 | |||||||||||||||||||
| Basic earnings per common share | $ | 0.49 | $ | 0.17 | $ | 0.62 | $ | 0.59 | $ | 0.50 | |||||||||||||||||||
| Diluted earnings per common share | $ | 0.48 | $ | 0.17 | $ | 0.61 | $ | 0.58 | $ | 0.49 | |||||||||||||||||||
| Common shares outstanding | 11,895 | 11,879 | 11,826 | 11,517 | 11,297 | ||||||||||||||||||||||||
Performance Ratios: | |||||||||||||||||||||||||||||
Return on average assets (2) | 0.90 | % | 0.32 | % | 1.10 | % | 1.04 | % | 0.90 | % | |||||||||||||||||||
Return on average equity (2) | 11.42 | 4.02 | 14.79 | 14.42 | 12.68 | ||||||||||||||||||||||||
Net interest margin (tax-equivalent) (2) | 3.69 | 3.82 | 3.77 | 3.77 | 3.54 | ||||||||||||||||||||||||
Yield on earning assets (tax-equivalent) (2) | 6.59 | 6.69 | 6.82 | 7.01 | 6.89 | ||||||||||||||||||||||||
Cost of funds (2) | 3.08 | 3.04 | 3.23 | 3.42 | 3.52 | ||||||||||||||||||||||||
Efficiency ratio | 68.03 | % | 66.66 | % | 63.25 | % | 65.15 | % | 65.82 | % | |||||||||||||||||||
Asset Quality Ratios: | |||||||||||||||||||||||||||||
| Net charge-offs (recoveries) to average loans | 0.12 | % | 0.35 | % | 0.16 | % | 0.09 | % | 0.17 | % | |||||||||||||||||||
Non-performing loans to total loans | 3.68 | 2.64 | 2.50 | 2.53 | 2.35 | ||||||||||||||||||||||||
Non-performing assets to total assets | 3.40 | 2.51 | 2.38 | 2.32 | 2.14 | ||||||||||||||||||||||||
Allowance for credit losses to: | |||||||||||||||||||||||||||||
Total loans and other finance receivables | 0.99 | 0.97 | 0.99 | 1.01 | 0.99 | ||||||||||||||||||||||||
Total loans and other finance receivables (excluding loans at fair value) (1) | 0.99 | 0.98 | 1.00 | 1.01 | 1.00 | ||||||||||||||||||||||||
Non-performing loans | 26.15 | % | 36.23 | % | 39.18 | % | 39.37 | % | 41.26 | % | |||||||||||||||||||
Capital Ratios: | |||||||||||||||||||||||||||||
| Book value per common share | $ | 17.22 | $ | 16.86 | $ | 16.89 | $ | 16.33 | $ | 15.76 | |||||||||||||||||||
| Tangible book value per common share | $ | 16.94 | $ | 16.57 | $ | 16.59 | $ | 16.02 | $ | 15.44 | |||||||||||||||||||
| Total equity/Total assets | 7.90 | % | 7.77 | % | 7.80 | % | 7.40 | % | 7.09 | % | |||||||||||||||||||
Tangible common equity/Tangible assets - Corporation (1) | 7.78 | 7.65 | 7.67 | 7.27 | 6.96 | ||||||||||||||||||||||||
Tangible common equity/Tangible assets - Bank (1) | 9.51 | 9.38 | 9.41 | 9.16 | 8.96 | ||||||||||||||||||||||||
| Tier 1 leverage ratio - Bank | 9.72 | 9.58 | 9.50 | 9.41 | 9.32 | ||||||||||||||||||||||||
| Common tier 1 risk-based capital ratio - Bank | 10.65 | 10.52 | 10.66 | 10.52 | 10.53 | ||||||||||||||||||||||||
| Tier 1 risk-based capital ratio - Bank | 10.65 | 10.52 | 10.66 | 10.52 | 10.53 | ||||||||||||||||||||||||
| Total risk-based capital ratio - Bank | 11.64 | % | 11.51 | % | 11.65 | % | 11.54 | % | 11.54 | % | |||||||||||||||||||
| (1) See Non-GAAP reconciliation in the Appendix | |||||||||||||||||||||||||||||
| (2) Annualized | |||||||||||||||||||||||||||||
7
Exhibit 99.1
MERIDIAN CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(Dollar amounts and shares in thousands, except per share amounts)
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | |||||||||||||||||||||||||
| Interest income: | |||||||||||||||||||||||||||||
| Loans and other finance receivables, including fees | $ | 38,318 | $ | 38,144 | $ | 38,697 | $ | 76,462 | $ | 75,246 | |||||||||||||||||||
| Securities - taxable | 1,830 | 1,847 | 1,792 | 3,677 | 3,485 | ||||||||||||||||||||||||
| Securities - tax-exempt | 321 | 323 | 295 | 644 | 608 | ||||||||||||||||||||||||
| Cash and cash equivalents | 311 | 398 | 427 | 709 | 1,040 | ||||||||||||||||||||||||
| Total interest income | 40,780 | 40,712 | 41,211 | 81,492 | 80,379 | ||||||||||||||||||||||||
| Interest expense: | |||||||||||||||||||||||||||||
| Deposits | 15,749 | 15,223 | 17,301 | 30,972 | 34,169 | ||||||||||||||||||||||||
| Borrowings and subordinated debentures | 2,240 | 2,287 | 2,751 | 4,527 | 5,275 | ||||||||||||||||||||||||
| Total interest expense | 17,989 | 17,510 | 20,052 | 35,499 | 39,444 | ||||||||||||||||||||||||
| Net interest income | 22,791 | 23,202 | 21,159 | 45,993 | 40,935 | ||||||||||||||||||||||||
| Provision for credit losses | 2,968 | 7,493 | 3,803 | 10,461 | 9,015 | ||||||||||||||||||||||||
| Net interest income after provision for credit losses | 19,823 | 15,709 | 17,356 | 35,532 | 31,920 | ||||||||||||||||||||||||
| Non-interest income: | |||||||||||||||||||||||||||||
Mortgage banking income (1) | 6,229 | 4,115 | 5,847 | 10,344 | 9,512 | ||||||||||||||||||||||||
| Wealth management income | 1,706 | 1,729 | 1,492 | 3,435 | 3,027 | ||||||||||||||||||||||||
| SBA loan income | 615 | 150 | 1,988 | 765 | 2,736 | ||||||||||||||||||||||||
| Earnings on investment in life insurance | 245 | 272 | 240 | 517 | 462 | ||||||||||||||||||||||||
| Net gain (loss) on sale of MSRs | — | (159) | 467 | (159) | 415 | ||||||||||||||||||||||||
| Net change in the fair value of loans held-for-investment | 65 | (39) | 190 | 26 | 360 | ||||||||||||||||||||||||
| Other | 1,023 | 969 | 1,064 | 1,992 | 2,100 | ||||||||||||||||||||||||
| Total non-interest income | 9,883 | 7,037 | 11,288 | 16,920 | 18,612 | ||||||||||||||||||||||||
| Non-interest expense: | |||||||||||||||||||||||||||||
| Salaries and employee benefits | 13,193 | 12,386 | 13,179 | 25,579 | 24,564 | ||||||||||||||||||||||||
| Occupancy and equipment | 1,172 | 1,183 | 1,037 | 2,355 | 2,375 | ||||||||||||||||||||||||
| Professional fees | 1,164 | 974 | 1,164 | 2,138 | 1,927 | ||||||||||||||||||||||||
| Data processing and software | 2,018 | 1,973 | 1,706 | 3,991 | 3,185 | ||||||||||||||||||||||||
| Advertising and promotion | 1,317 | 692 | 1,277 | 2,009 | 2,056 | ||||||||||||||||||||||||
| Pennsylvania bank shares tax | 246 | 258 | 269 | 504 | 538 | ||||||||||||||||||||||||
| Other | 3,117 | 2,692 | 2,725 | 5,809 | 5,455 | ||||||||||||||||||||||||
| Total non-interest expense | 22,227 | 20,158 | 21,357 | 42,385 | 40,100 | ||||||||||||||||||||||||
| Income before income taxes | 7,479 | 2,588 | 7,287 | 10,067 | 10,432 | ||||||||||||||||||||||||
| Income tax expense | 1,672 | 582 | 1,695 | 2,254 | 2,441 | ||||||||||||||||||||||||
| Net income | $ | 5,807 | $ | 2,006 | $ | 5,592 | $ | 7,813 | $ | 7,991 | |||||||||||||||||||
| Basic earnings per common share | $ | 0.49 | $ | 0.17 | $ | 0.50 | $ | 0.66 | $ | 0.71 | |||||||||||||||||||
| Diluted earnings per common share | $ | 0.48 | $ | 0.17 | $ | 0.49 | $ | 0.64 | $ | 0.70 | |||||||||||||||||||
Basic weighted average shares outstanding | 11,859 | 11,811 | 11,228 | 11,835 | 11,215 | ||||||||||||||||||||||||
| Diluted weighted average shares outstanding | 12,174 | 12,153 | 11,392 | 12,163 | 11,415 | ||||||||||||||||||||||||
(1) Includes FV change on mortgages HFS and related hedging derivatives | |||||||||||||||||||||||||||||
8
Exhibit 99.1
MERIDIAN CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (Unaudited)
(Dollar amounts and shares in thousands, except per share amounts)
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||
| Cash and due from banks | $ | 11,209 | $ | 12,458 | $ | 10,358 | $ | 12,605 | $ | 20,604 | |||||||||||||||||||
| Interest-bearing deposits at other banks | 24,998 | 15,811 | 25,420 | 27,384 | 29,570 | ||||||||||||||||||||||||
| Cash and cash equivalents | 36,207 | 28,269 | 35,778 | 39,989 | 50,174 | ||||||||||||||||||||||||
| Securities available-for-sale, at fair value | 200,552 | 196,012 | 193,457 | 194,268 | 187,902 | ||||||||||||||||||||||||
| Securities held-to-maturity, at amortized cost | 32,445 | 32,494 | 32,544 | 32,593 | 32,642 | ||||||||||||||||||||||||
| Equity investments | 2,146 | 2,137 | 2,166 | 2,150 | 2,130 | ||||||||||||||||||||||||
| Mortgage loans held for sale, at fair value | 54,898 | 38,960 | 33,762 | 28,016 | 44,078 | ||||||||||||||||||||||||
| Loans and other finance receivables, net of fees and costs | 2,177,978 | 2,181,575 | 2,170,600 | 2,162,845 | 2,108,250 | ||||||||||||||||||||||||
| Allowance for credit losses | (21,463) | (21,252) | (21,573) | (21,794) | (20,851) | ||||||||||||||||||||||||
| Loans and other finance receivables, net of the allowance for credit losses | 2,156,515 | 2,160,323 | 2,149,027 | 2,141,051 | 2,087,399 | ||||||||||||||||||||||||
| Restricted investment in bank stock | 7,484 | 7,699 | 7,811 | 8,350 | 9,162 | ||||||||||||||||||||||||
| Bank premises and equipment, net | 12,437 | 12,298 | 12,402 | 12,413 | 12,320 | ||||||||||||||||||||||||
| Bank owned life insurance | 31,205 | 30,959 | 30,687 | 30,421 | 30,175 | ||||||||||||||||||||||||
| Accrued interest receivable | 10,680 | 11,015 | 10,724 | 10,944 | 10,334 | ||||||||||||||||||||||||
| OREO and other repossessed assets | 6,081 | 6,009 | 5,997 | 3,714 | 3,148 | ||||||||||||||||||||||||
| Deferred income taxes | 4,535 | 4,548 | 4,215 | 4,989 | 5,314 | ||||||||||||||||||||||||
| Servicing assets | 3,642 | 3,694 | 3,932 | 3,845 | 3,658 | ||||||||||||||||||||||||
| Goodwill | 899 | 899 | 899 | 899 | 899 | ||||||||||||||||||||||||
| Intangible assets | 2,461 | 2,512 | 2,563 | 2,614 | 2,665 | ||||||||||||||||||||||||
| Other assets | 30,989 | 38,753 | 36,031 | 24,874 | 28,938 | ||||||||||||||||||||||||
| Total assets | $ | 2,593,176 | $ | 2,576,581 | $ | 2,561,995 | $ | 2,541,130 | $ | 2,510,938 | |||||||||||||||||||
| Liabilities: | |||||||||||||||||||||||||||||
| Deposits: | |||||||||||||||||||||||||||||
| Non-interest bearing | $ | 246,357 | $ | 243,458 | $ | 245,377 | $ | 239,614 | $ | 237,042 | |||||||||||||||||||
| Interest bearing: | |||||||||||||||||||||||||||||
| Interest checking | 151,235 | 157,151 | 157,360 | 151,973 | 173,865 | ||||||||||||||||||||||||
| Money market and savings deposits | 1,033,043 | 1,013,533 | 1,023,290 | 996,126 | 956,448 | ||||||||||||||||||||||||
| Time deposits | 763,803 | 755,818 | 732,101 | 743,403 | 743,019 | ||||||||||||||||||||||||
| Total interest-bearing deposits | 1,948,081 | 1,926,502 | 1,912,751 | 1,891,502 | 1,873,332 | ||||||||||||||||||||||||
| Total deposits | 2,194,438 | 2,169,960 | 2,158,128 | 2,131,116 | 2,110,374 | ||||||||||||||||||||||||
| Borrowings | 108,032 | 120,838 | 117,338 | 137,265 | 138,965 | ||||||||||||||||||||||||
| Subordinated debentures | 49,705 | 49,675 | 49,853 | 49,822 | 49,792 | ||||||||||||||||||||||||
| Accrued interest payable | 5,587 | 6,620 | 6,531 | 7,095 | 7,059 | ||||||||||||||||||||||||
| Other liabilities | 30,604 | 29,263 | 30,429 | 27,803 | 26,728 | ||||||||||||||||||||||||
| Total liabilities | 2,388,366 | 2,376,356 | 2,362,279 | 2,353,101 | 2,332,918 | ||||||||||||||||||||||||
| Stockholders’ equity: | |||||||||||||||||||||||||||||
| Common stock | 13,927 | 13,882 | 13,830 | 13,521 | 13,300 | ||||||||||||||||||||||||
| Surplus | 91,137 | 90,885 | 90,352 | 85,122 | 82,184 | ||||||||||||||||||||||||
| Treasury stock | (26,079) | (26,079) | (26,079) | (26,079) | (26,079) | ||||||||||||||||||||||||
| Unearned common stock held by ESOP | (1,232) | (1,232) | (1,232) | (1,006) | (1,006) | ||||||||||||||||||||||||
| Retained earnings | 132,614 | 128,472 | 128,124 | 122,376 | 117,132 | ||||||||||||||||||||||||
| Accumulated other comprehensive loss | (5,557) | (5,703) | (5,279) | (5,905) | (7,511) | ||||||||||||||||||||||||
| Total stockholders’ equity | 204,810 | 200,225 | 199,716 | 188,029 | 178,020 | ||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 2,593,176 | $ | 2,576,581 | $ | 2,561,995 | $ | 2,541,130 | $ | 2,510,938 | |||||||||||||||||||
9
Exhibit 99.1
MERIDIAN CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND SEGMENT INFORMATION (Unaudited)
(Dollar amounts and shares in thousands, except per share amounts)
Three Months Ended | |||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
| Interest income | $ | 40,780 | $ | 40,712 | $ | 42,826 | $ | 43,109 | $ | 41,211 | |||||||||||||||||||
| Interest expense | 17,989 | 17,510 | 19,199 | 19,993 | 20,052 | ||||||||||||||||||||||||
| Net interest income | 22,791 | 23,202 | 23,627 | 23,116 | 21,159 | ||||||||||||||||||||||||
Provision for credit losses | 2,968 | 7,493 | 3,287 | 2,850 | 3,803 | ||||||||||||||||||||||||
| Non-interest income | 9,883 | 7,037 | 10,615 | 9,953 | 11,288 | ||||||||||||||||||||||||
| Non-interest expense | 22,227 | 20,158 | 21,658 | 21,546 | 21,357 | ||||||||||||||||||||||||
| Income before income tax expense | 7,479 | 2,588 | 9,297 | 8,673 | 7,287 | ||||||||||||||||||||||||
| Income tax expense | 1,672 | 582 | 2,111 | 2,014 | 1,695 | ||||||||||||||||||||||||
| Net Income | $ | 5,807 | $ | 2,006 | $ | 7,186 | $ | 6,659 | $ | 5,592 | |||||||||||||||||||
| Basic weighted average shares outstanding | 11,859 | 11,811 | 11,543 | 11,325 | 11,228 | ||||||||||||||||||||||||
| Basic earnings per common share | $ | 0.49 | $ | 0.17 | $ | 0.62 | $ | 0.59 | $ | 0.50 | |||||||||||||||||||
| Diluted weighted average shares outstanding | 12,174 | 12,153 | 11,771 | 11,540 | 11,392 | ||||||||||||||||||||||||
| Diluted earnings per common share | $ | 0.48 | $ | 0.17 | $ | 0.61 | $ | 0.58 | $ | 0.49 | |||||||||||||||||||
| Segment Information | |||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Bank | Wealth | Mortgage | Total | Bank | Wealth | Mortgage | Total | |||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 22,599 | $ | 58 | $ | 134 | $ | 22,791 | $ | 21,025 | $ | 63 | $ | 71 | $ | 21,159 | |||||||||||||||||||||||||||||||
Provision for credit losses | 2,968 | — | — | 2,968 | 3,803 | — | — | 3,803 | |||||||||||||||||||||||||||||||||||||||
Net interest income after provision | 19,631 | 58 | 134 | 19,823 | 17,222 | 63 | 71 | 17,356 | |||||||||||||||||||||||||||||||||||||||
| Non-interest income | 1,844 | 1,706 | 6,333 | 9,883 | 3,029 | 1,492 | 6,767 | 11,288 | |||||||||||||||||||||||||||||||||||||||
| Non-interest expense | 15,056 | 1,190 | 5,981 | 22,227 | 15,049 | 951 | 5,357 | 21,357 | |||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ | 6,419 | $ | 574 | $ | 486 | $ | 7,479 | $ | 5,202 | $ | 604 | $ | 1,481 | $ | 7,287 | |||||||||||||||||||||||||||||||
| Efficiency ratio | 62 | % | 67 | % | 92 | % | 68 | % | 63 | % | 61 | % | 78 | % | 66 | % | |||||||||||||||||||||||||||||||
Six Months Ended June 30, 2026 | Six Months Ended June 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Bank | Wealth | Mortgage | Total | Bank | Wealth | Mortgage | Total | |||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 45,670 | $ | 118 | $ | 205 | $ | 45,993 | $ | 40,730 | $ | 73 | $ | 132 | $ | 40,935 | |||||||||||||||||||||||||||||||
Provision for credit losses | 10,461 | — | — | 10,461 | 9,015 | — | — | 9,015 | |||||||||||||||||||||||||||||||||||||||
Net interest income after provision | 35,209 | 118 | 205 | 35,532 | 31,715 | 73 | 132 | 31,920 | |||||||||||||||||||||||||||||||||||||||
| Non-interest income | 3,242 | 3,435 | 10,243 | 16,920 | 4,942 | 3,027 | 10,643 | 18,612 | |||||||||||||||||||||||||||||||||||||||
| Non-interest expense | 29,013 | 2,169 | 11,203 | 42,385 | 27,809 | 1,768 | 10,523 | 40,100 | |||||||||||||||||||||||||||||||||||||||
| Income before income taxes | $ | 9,438 | $ | 1,384 | $ | (755) | $ | 10,067 | $ | 8,848 | $ | 1,332 | $ | 252 | $ | 10,432 | |||||||||||||||||||||||||||||||
| Efficiency ratio | 59 | % | 61 | % | 107 | % | 67 | % | 61 | % | 57 | % | 98 | % | 67 | % | |||||||||||||||||||||||||||||||
10
MERIDIAN CORPORATION AND SUBSIDIARIES
APPENDIX: NON-GAAP MEASURES (Unaudited)
(Dollar amounts and shares in thousands, except per share amounts)
Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.
Pre-Provision Net Revenue Reconciliation | |||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||
(Dollars in thousands, except per share data, Unaudited) | June 30, 2026 | March 31, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | ||||||||||||||||||||||||
| Income before income tax expense | $ | 7,479 | $ | 2,588 | $ | 7,287 | $ | 10,067 | $ | 10,432 | |||||||||||||||||||
| Provision for credit losses | 2,968 | 7,493 | 3,803 | 10,461 | 9,015 | ||||||||||||||||||||||||
| Pre-provision net revenue | $ | 10,447 | $ | 10,081 | $ | 11,090 | $ | 20,528 | $ | 19,447 | |||||||||||||||||||
Pre-Provision Net Revenue Reconciliation | |||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||
(Dollars in thousands, except per share data, Unaudited) | June 30, 2026 | March 31, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | ||||||||||||||||||||||||
| Bank | $ | 9,387 | $ | 10,513 | $ | 9,005 | $ | 19,899 | $ | 17,863 | |||||||||||||||||||
| Wealth | 574 | 811 | 604 | 1,384 | 1,332 | ||||||||||||||||||||||||
| Mortgage | 486 | (1,243) | 1,481 | (755) | 252 | ||||||||||||||||||||||||
| Pre-provision net revenue | $ | 10,447 | $ | 10,081 | $ | 11,090 | $ | 20,528 | $ | 19,447 | |||||||||||||||||||
| Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding Loans at Fair Value | |||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
Allowance for credit losses (GAAP) | $ | 21,463 | $ | 21,252 | $ | 21,573 | $ | 21,794 | $ | 20,851 | |||||||||||||||||||
Loans and other finance receivables (GAAP) | 2,177,978 | 2,181,575 | 2,170,600 | 2,162,845 | 2,108,250 | ||||||||||||||||||||||||
Less: Loans at fair value | (13,619) | (14,090) | (14,396) | (14,454) | (14,541) | ||||||||||||||||||||||||
Loans and other finance receivables, excluding loans at fair value (non-GAAP) | $ | 2,164,359 | $ | 2,167,485 | $ | 2,156,204 | $ | 2,148,391 | $ | 2,093,709 | |||||||||||||||||||
ACL to loans and other finance receivables (GAAP) | 0.99 | % | 0.97 | % | 0.99 | % | 1.01 | % | 0.99 | % | |||||||||||||||||||
ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP) | 0.99 | % | 0.98 | % | 1.00 | % | 1.01 | % | 1.00 | % | |||||||||||||||||||
11
Tangible Common Equity Ratio Reconciliation - Corporation | |||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
Total stockholders' equity (GAAP) | $ | 204,810 | $ | 200,225 | $ | 199,716 | $ | 188,029 | $ | 178,020 | |||||||||||||||||||
Less: Goodwill and intangible assets | (3,360) | (3,411) | (3,462) | (3,513) | (3,564) | ||||||||||||||||||||||||
Tangible common equity (non-GAAP) | 201,450 | 196,814 | 196,254 | 184,516 | 174,456 | ||||||||||||||||||||||||
Total assets (GAAP) | 2,593,176 | 2,576,581 | 2,561,995 | 2,541,130 | 2,510,938 | ||||||||||||||||||||||||
| Less: Goodwill and intangible assets | (3,360) | (3,411) | (3,462) | (3,513) | (3,564) | ||||||||||||||||||||||||
Tangible assets (non-GAAP) | $ | 2,589,816 | $ | 2,573,170 | $ | 2,558,533 | $ | 2,537,617 | $ | 2,507,374 | |||||||||||||||||||
Tangible common equity to tangible assets ratio - Corporation (non-GAAP) | 7.78 | % | 7.65 | % | 7.67 | % | 7.27 | % | 6.96 | % | |||||||||||||||||||
Tangible Common Equity Ratio Reconciliation - Bank | |||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
| Total stockholders' equity (GAAP) | $ | 249,468 | $ | 244,621 | $ | 244,064 | $ | 236,038 | $ | 228,127 | |||||||||||||||||||
| Less: Goodwill and intangible assets | (3,360) | (3,411) | (3,462) | (3,513) | (3,564) | ||||||||||||||||||||||||
| Tangible common equity (non-GAAP) | 246,108 | 241,210 | 240,602 | 232,525 | 224,563 | ||||||||||||||||||||||||
| Total assets (GAAP) | 2,591,551 | 2,575,135 | 2,560,485 | 2,541,395 | 2,510,684 | ||||||||||||||||||||||||
| Less: Goodwill and intangible assets | (3,360) | (3,411) | (3,462) | (3,513) | (3,564) | ||||||||||||||||||||||||
| Tangible assets (non-GAAP) | $ | 2,588,191 | $ | 2,571,724 | $ | 2,557,023 | $ | 2,537,882 | $ | 2,507,120 | |||||||||||||||||||
| Tangible common equity to tangible assets ratio - Bank (non-GAAP) | 9.51 | % | 9.38 | % | 9.41 | % | 9.16 | % | 8.96 | % | |||||||||||||||||||
| Tangible Book Value Reconciliation | |||||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||||||||||||
| Book value per common share | $ | 17.22 | $ | 16.86 | $ | 16.89 | $ | 16.33 | $ | 15.76 | |||||||||||||||||||
| Less: Impact of goodwill /intangible assets | 0.28 | 0.29 | 0.30 | 0.31 | 0.32 | ||||||||||||||||||||||||
| Tangible book value per common share | $ | 16.94 | $ | 16.57 | $ | 16.59 | $ | 16.02 | $ | 15.44 | |||||||||||||||||||
12
Second Quarter 2026 NASDAQ: MRBK Earnings Supplement July 30, 2026
FORWARD-LOOKING STATEMENTS Meridian Corporation (the “Corporation”) may from time to time make written or oral “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” "forecasted", or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL, including the timing of third-party appraisals and loan valuations from lead financial institutions in which we are a loan participant; cyber-security concerns; rapid technological developments and changes, including the development and use of artificial intelligence in business processes, services, and products; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; escalating tariff and other trade policies and the resulting impacts on market volatility and global trade; the impact of uncertain or changing political conditions or any current or future federal government shutdown and uncertainty regarding the federal government's debt limit, geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and military conflicts, including the ongoing conflict in the Middle East, which could impact economic conditions in the United States; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review the Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. The Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by the Corporation or by or on behalf of Meridian Bank, except as may be required under applicable laws. Meridian Corporation 2
MRBK INVESTMENT HIGHLIGHTS Regional presence with a community touch. "Go to" bank in the Delaware Valley Demonstrated organic growth engine in diversified loan segments. Focus on Commercial, CRE and Small Business Lending Valuable customer base trained to solely use electronic channel. Strong sales culture that capitalizes on market disruption. Skilled management team with extensive in-market experience. Comfortably handle all but the largest companies. Meridian Corporation 3
Geographic Footprint Regional Market Meridian Corporation 4
Q2'2026 vs Q2'2025 Financial Recap Summary Income Statement ($000s) Q2'2026 Q2'2025 Net Interest Income $ 22,791 $ 21,159 Provision for Credit Losses 2,968 3,803 Non-Interest Income 9,883 11,288 Non-Interest Expense 22,227 21,357 Income Before Income Taxes 7,479 7,287 Income Taxes 1,672 1,695 Net income $ 5,807 $ 5,592 Earnings Per Share Diluted Earnings Per Share $ 0.48 $ 0.49 Pre-Provision Net Revenue by Segment 1 Bank $ 9,387 $ 9,005 Wealth 574 604 Mortgage 486 1,481 Pre-Provision Net Revenue $ 10,447 $ 11,090 Assets ($M) Loans ($M) Deposits ($M) Q2'2022 Q2'2023 Q2'2024 Q2'2025 Q2'2026 $1,000 $2,000 $3,000 Summary Balance Sheet June 30, 2026 June 30, 2025 Assets ($M) $ 2,593 $ 2,511 Loans ($M) 2 2,178 2,108 Deposits ($M) 2,194 2,110 Equity ($M) 205 178 1) A Non-GAAP measure. See Non-GAAP reconciliation in the Appendix. 2) Includes loans held for investment. Meridian Corporation 5
For the Calendar Quarter Ended Balance Sheet ($M) Q2'2026 Q1'2026 Q4'2025 Q3'2025 Q2'2025 Total Assets $ 2,593 $ 2,577 $ 2,562 $ 2,541 $ 2,511 Total Loans & Leases² 2,233 2,221 2,204 2,191 2,152 Deposits 2,194 2,170 2,158 2,131 2,110 Equity 205 200 200 188 178 Tangible Equity / Tangible Assets3 7.78 % 7.65 % 7.67 % 7.27 % 6.96 % Net Income & Share Data ($000s) Net Income $ 5,807 $ 2,006 $ 7,186 $ 6,659 $ 5,592 Diluted EPS 0.48 0.17 0.61 0.58 0.49 Price per Common Share 20.03 18.96 17.58 15.79 12.89 TBV per Share 16.94 16.57 16.59 16.02 15.44 Pre-Provision Net Revenue3 10,447 10,081 12,584 11,523 11,090 Common Dividends per Share 0.140 0.140 0.125 0.125 0.125 Dividend Yield (annualized) 2.8 % 3.0 % 3.2 % 3.2 % 3.9 % Profitability (%) ROAE 11.42 % 4.02 % 14.79 % 14.42 % 12.68 % ROAA 0.90 % 0.32 % 1.10 % 1.04 % 0.90 % NIM 3.69 % 3.82 % 3.77 % 3.77 % 3.54 % Q2'2026 HIGHLIGHTS 1) As of and for the quarter ended June 30, 2026, per July 30, 2026 press release. 2) Includes loans held for sale and loans held for investment. 3) A Non-GAAP measure. See Non-GAAP reconciliation in the Appendix. Meridian Corporation 6
Q2'2026 INCOME STATEMENT TRENDS ($000s) Pre-Provision Net Revenue by Segment Q2'2026 Q1'2026 Q4'2025 Q3'2025 Q2'2025 Bank $ 9,387 $ 10,513 $ 11,771 $ 10,504 $ 9,005 Wealth 574 811 493 512 604 Mortgage 486 (1,243) 320 507 1,481 Total Pre-Provision Net Revenue $ 10,447 $ 10,081 $ 12,584 $ 11,523 $ 11,090 Q2'2025 Q3'2025 Q4'2025 Q1'2026 Q2'2026 Net Interest Income Non-Interest Income Non-Interest Expense Pre-Provision Net Revenue Net Income $0 $5,000 $10,000 $15,000 $20,000 $25,000 Meridian Corporation 7
NET INTEREST MARGIN 3.06% 3.20% 3.29% 3.46% 3.54% 3.77% 3.77% 3.82% 3.69% 6.98% 7.06% 6.81% 6.83% 6.89% 7.01% 6.82% 6.69% 6.59% 4.10% 4.05% 3.71% 3.56% 3.52% 3.42% 3.23% 3.04% 3.08% Net Interest Margin Yield on Earning Assets Cost of Funds Q2'2024 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 Q4'2025 Q1'2026 Q2'2026 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% Meridian Corporation 8
DEPOSIT REPRICING Data as of June 30, 2026 • During Q2, time deposit costs decreased 2 bps. • $401 million in term deposits to reprice next six months • Currently repricing at approx. 4.15%, up from 3.80% and 3.81% through months 1 to 3 and 3 to 6, respectively • Deposit pricing pressure is offset by $58 million in loans repricing approx.180 basis points on avg. during next 6 months. Meridian Corporation 9 Time Deposit Maturity Schedule ($000s) - as of June 30, 2026 3.80% 3.81% 3.76% 3.84% 3.72% 3.77% 3.94% Amount Maturing (000s) Blended Cost by Period 1-3 MONTHS 3-6 MONTHS 6-9 MONTHS 9-12 MONTHS 12-18 MONTHS 18-24 MONTHS > 2 YRS $— $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000 $220,000 $240,000 $260,000 $280,000 $300,000 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% 5.00%
NON-INTEREST INCOME ($000s) Q2'2026 Q1'2026 $ Change Mortgage banking income 1 $ 6,229 $ 4,115 $ 2,114 SBA income 615 150 465 Wealth management income 1,706 1,729 (23) Other income 1,333 1,043 290 Total $ 9,883 $ 7,037 $ 2,846 Note 1 - includes FV change on mortgages HFS and related hedging derivatives. 63.0% 17.3% 6.2% 0.0% 13.5% Mortgage banking income Wealth management income SBA income Net gain on sale of MSR's Other income (% of total non-interest income during Q2'2026) Meridian Corporation 10
NON-INTEREST EXPENSE (% of total non-interest expense during Q2'2026) ($000s) Q2'2026 Q1'2026 $ Change Salaries & benefits $ 13,193 $ 12,386 $ 807 Occupancy & equipment 1,172 1,183 (11) Professional fees 1,164 974 190 Data processing and IT 2,018 1,973 45 Advertising & promotion 1,317 692 625 Other 3,363 2,950 413 Total $ 22,227 $ 20,158 $ 2,069 59.4% 5.3% 5.2% 9.1% 5.9% 15.1% Salaries & employee benefits Occupancy & equipment Professional Data processing / IT Advertising & promotion Other Meridian Corporation 11
LOANS AND OTHER FINANCE RECEIVABLES Balance ($000s) June 30, 2026 YTD Growth % Commercial Mortgage $ 911,710 3.7 % Commercial, Industrial & other finance receivables 445,594 3.9 % Construction 315,511 (4.5) % SBA loans 124,600 (10.9) % Leases, net 35,182 (22.7) % Residential mortgage 229,934 (2.6) % Home equity 112,784 5.4 % Consumer (other) 288 (12.5) % Total $ 2,175,603 0.4 % Commercial Mortgage, 42% Consumer, 16% C&I, 20% SBA, 6% Construction, 14% Leases, 2% Commercial - 84% Consumer - 16% (residential, home equity, personal) Meridian Corporation 12 As of June 30, 2026
C&I LOAN PORTFOLIO OVERVIEW C&I Portfolio By Industry as of June 30, 2026 10 Largest C&I Relationships as a % of C&I Portfolio 11.5% 10 Largest C&I Relationships as a % of Total Loan Portfolio 4.7% Average Loan Size O/S of C&I Portfolio, excluding leases ($000s) $406 Weighted Average Risk Rating of C&I Portfolio Pass 15.8% 13.4% 8.3% 8.0% 5.2% 3.5% 6.2% 4.7% 2.1% 7.2% 6.8%1.6% 1.3% 15.8% Manufacturing Construction Related RE Investment Professional Services Health & Social Services Admin & Support Retail Trade Leisure Commercial & Consumer Rental Wholesale Trade Financial, Insurance & RE Services Communication Infrastructure Providers & Services Waste Mgmt & Remediation Other *Includes commercial owner occupied real estate of $286 million Meridian Corporation Portfolio Characteristics 13 $884 M Total C&I* Includes $25 M of private equity loans
30.9% 2.1% 17.5% 1.6% 26.0% 12.1% 1.9% 3.4% 4.6% Resi & Coml Constr RE & Rental Lease Com RE Inv Construction Related RE Inv Leisure Health Care and Social Assistance Other Fin, Ins, RE Services CRE LOAN PORTFOLIO OVERVIEW - as of June 30, 2026 $941 M* Total CRE (as a % of CRE loans) *Commercial owner occupied real estate loans of $286 million not included (see C&I chart) • $63.9 M of office buildings • $102 M of multi-family loans • Wtd. avg. LTV - 71% Meridian Corporation Multi-family Loans by Region: Region Amount ($000s) % of Total Philadelphia $ 79,750 77.2 % Chester County, PA 2,114 2.1 % Montgomery County, PA 4,871 4.8 % New Castle, DE 11,108 10.9 % Delaware County, PA 1,421 1.4 % Bucks County, PA 1,331 1.3 % Southern NJ 630 0.6 % Other 726 0.7 % Total $ 101,951 14
CRE RATIOS - 100 & 300* 75% 75% 88% 96% 99% 73% 73% 127% 113% 114% 120% 120% 127% 131% 135% 123% 150% 149% 156% 184% 177% 172% 169% 234% 256% 277% 287% 282% 288% 284% 289% 275% CRE 100 Ratio CRE 300 Ratio Dec- 15 Dec- 16 Dec- 17 Dec- 18 Dec- 19 Dec- 20 Dec- 21 Dec- 22 Dec- 23 Dec- 24 Mar- 25 Jun- 25 Sept- 25 Dec- 25 Mar- 26 June- 26 50% 100% 150% 200% 250% 300% Increase in Construction - largely Multi-family Meridian Corporation 15 * The CRE 100 Ratio and CRE 300 Ratio consist of construction loans (100) and non-owner occupied CRE loans (300) compared to total risk-based capital at June 30, 2026.
6.82% 7.89% 11.10% 11.50% 11.47% 10.53% 11.04% 10.50% 10.64% 10.35% 0.54% 1.12% 3.43% 3.96% 3.56% 3.52% 3.42% 3.23% 3.04% 3.08% Yield on SBA Loans Cost of Funds FYE 21 FYE 22 FYE 23 FYE 24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 —% 5.00% 10.00% 15.00% SBA Loan Portfolio Overview SBA Loan Portfolio Profitability ($000s) Yield vs. Cost $11,773 $13,280 $15,976 $15,245 $16,929 $2,810 $3,055$2,478 $1,172 $2,469 $3,463 $8,111 $894 $1,437 Total Net Revenue Provision for Credit Losses FYE 21 FYE 22 FYE 23 FYE 24 FYE 25 Q1'26 Q2'26 $5,000 $10,000 $15,000 $20,000 • $124.6 million loans outstanding at June 30, 2026. • Very profitable portfolio. • Spread on SBA portfolio - 7.22% for Q2 2026. • 50% of non-performing loans as of June 30, 2026 were originated during 2020-2021 prior to 500+ bps rise in rates. Meridian Corporation 16
ASSET QUALITY TRENDS 0.05% 0.05% 0.11% 0.12% 0.20% 0.11% 0.34% 0.14% 0.17% 0.09% 0.16% 0.35% 0.12% 1.44% 1.53% 1.76% 1.93% 1.84% 2.20% 2.19% 2.50% 2.35% 2.53% 2.50% 2.64% 3.68% 1.32% 1.38% 1.58% 1.74% 1.68% 1.97% 1.90% 2.07% 2.14% 2.32% 2.38% 2.51% 3.40% NCOs / Avg Loans NPLs / Loans NPAs / Assets Q2'2023 Q3'2023 Q4'2023 Q1'2024 Q2'2024 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 Q4'2025 Q1'2026 Q2'2026 —% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% Meridian Corporation 17 NOTE:Subsequent to June 30, 2026, a property in OREO valued at $719 thousand sold for a recorded gain of $218 thousand.
ASSET QUALITY - as of June 30, 2026 Comm Mtg (4), $7,155 Comm Mtg - Owner Occupied (3), $5,081 Land Dev (2), $22,226 C & I - Billboard (1), $5,099 C & I - Other, $1,849 SBA, $24,608 Residential, $8,735 Leases, $1,490 Home Equity, $1,600 Construction (2), $4,230 Non-performing Loans by Type ($000s) $11.9 million (48%) guaranteed by SBA (1) C&I Billboard is comprised of 1 loan relationship. (2) Construction and Land Dev, each, are comprised of 3 loan relationships. (3) Comm Mtg - Owner Occupied consists of 2 loan relationships. (4) Comm Mtg consists of 4 loan relationships. Meridian Corporation 18
MORTGAGE VOLUME & MARGIN TRENDS ($000s) 2.81% 2.82% 2.73% 2.63% 2.86% 2.93% 2.82% 2.91% 2.58% Closed and Funded - Purchase Closed and Funded - Refi Sold Volume Margin Q2'2024 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 Q4'2025 Q1'2026 Q2'2026 0 50 100 150 200 250 300 2.00% 2.20% 2.40% 2.60% 2.80% 3.00% Q2'2024 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 Q4'2025 Q1'2026 Q2'2026 Refinance (%) 10% 12% 16% 18% 14% 14% 21% 30% 17% Purchase (%) 90% 88% 84% 82% 86% 86% 79% 70% 83% Meridian Corporation 20 Period Sold Volume ($000s) Margin Q2'2026 $ 247,607 2.58 % Q1'2026 166,546 2.91 % FY 2025 773,228 2.82 % FY 2024 790,393 2.82 % FY 2023 606,042 2.85 % Period Originations ($000s) % Refi Q2'2026 $ 269,229 17 % Q1'2026 182,511 30 % FY 2025 830,751 17 % FY 2024 841,705 14 % FY 2023 678,617 11 % Year over Year Summary
DEPOSIT COMPOSITION - as of June 30, 2026 Business Accounts, 50% Consumer Accounts, 15% Municipal Deposits, 12% Time Deposits (Brokered), 23% Business Accounts Consumer Accounts Municipal Deposits Time Deposits (Brokered) Total Deposits $2.2 billion • At June 30, 2026, 65% of business accounts and 87% of consumer accounts were fully insured by the FDIC. • The average business money market account balance was $515 thousand at June 30, 2026. • The municipal deposits are 100% insured or collateralized and brokered time deposits are 100% FDIC insured. • The level of uninsured deposits for the entire deposit base was 20% at June 30, 2026. (as a % of total deposits) Meridian Corporation 21
INVESTMENT PORTFOLIO COMPOSITION - as of June 30, 2026 • Total investment securities 9.1% of total assets: – 86% Available for sale (AFS). – 14% Held-to-maturity (HTM). • Portfolio duration - 3.83 years • Average life - 4.93 years • Tax-equivalent yield - 3.85% • 12-month projected cash flow $30.0 million, or 13.09% of portfolio • Post Tax AFS URL $4.9 million or 1.97% of Tier 1 capital (1) (1) Capital ratios reflect Meridian Bank ratios. US government agency 46.8% State & municipal - tax free 23.4% Other 12.4% US asset backed 9.1% State & municipal - taxable 7.4% Equity securities 0.9% Total Securities $235 million Meridian Corporation 22
APPENDIX - HISTORICAL FINANCIAL HIGHLIGHTS AND RECONCILIATIONS OF NON-GAAP MEASURES Meridian Corporation 23
HISTORICAL FINANCIAL DATA 1) Includes loans held for sale and held for investment. 2) Includes loans held for investment (excluding loans at fair value). 3) A Non-GAAP measure. See Appendix for Non-GAAP to GAAP reconciliation. As of or for the Quarter Ended As of or for the Year Ended (dollars in thousands) Q2'2026 Q1'2026 Q2'2025 2025Y 2024Y 2023Y Balance Sheet Total Assets $ 2,593,176 $ 2,576,581 $ 2,510,938 $ 2,561,995 $ 2,385,867 $ 2,246,193 Loans (1) 2,232,876 2,220,535 2,152,328 2,204,362 2,062,850 1,920,622 Deposits 2,194,438 2,169,960 2,110,374 2,158,128 2,005,368 1,823,462 Gross Loans / Deposits 101.75 % 102.33 % 101.99 % 102.14 % 102.87 % 105.33 % Capital Total Equity $ 204,810 $ 200,225 $ 178,020 $ 199,716 $ 171,522 $ 158,022 Tangible Common Equity / Tangible Assets - HC (3) 7.78 % 7.65 % 6.96 % 7.67 % 7.05 % 6.87 % Tangible Common Equity / Tangible Assets - Bank (3) 9.51 9.38 8.96 9.41 9.06 8.94 Tier 1 Leverage Ratio - Bank 9.72 9.58 9.32 9.50 9.21 9.46 Total Capital Ratio - Bank 11.64 11.51 11.54 11.65 11.20 11.17 Commercial Real Estate Loans / Total RBC 280.3 % 289.0 % 282.3 % 284.1 % 277.2 % 255.9 % Earnings & Profitability Net Income $ 5,807 $ 2,006 $ 5,592 $ 21,836 $ 16,346 $ 13,243 ROA 0.90 % 0.32 % 0.90 % 0.87 % 0.70 % 0.61 % ROE 11.42 4.02 12.68 12.00 9.93 8.53 Net Interest Margin (NIM)(TEY) 3.69 3.82 3.54 3.64 3.16 3.35 Non-Int Inc. / Avg. Assets 1.53 1.11 1.82 1.56 1.76 1.48 Efficiency Ratio 68.03 % 66.66 % 65.82 % 65.67 % 70.46 % 76.43 % Asset Quality Nonaccrual Loans / Loans (1) 3.68 % 2.64 % 2.35 % 2.50 % 2.19 % 1.76 % NPAs / Assets 3.40 2.51 2.14 2.38 1.90 1.58 Reserves / Loans (2) (3) 0.99 0.98 1.00 1.00 0.91 1.17 NCOs / Average Loans 0.12 % 0.35 % 0.17 % 0.55 % 0.78 % 0.30 % Yield and Cost Yield on Earning Assets (TEY) 6.59 % 6.69 % 6.89 % 6.89 % 6.94 % 6.62 % Cost of Deposits 2.89 2.84 3.31 3.23 3.82 3.24 Cost of Interest-Bearing Liabilities 3.45 % 3.41 % 3.96 % 3.85 % 4.46 % 3.97 % Meridian Corporation 24
Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding Loans at Fair Value (dollars in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Allowance for credit losses (GAAP) $ 21,463 $ 21,252 $ 21,573 $ 21,794 $ 20,851 Loans and other finance receivables (GAAP) 2,177,978 2,181,575 2,170,600 2,162,845 2,108,250 Less: Loans at fair value (13,619) (14,090) (14,396) (14,454) (14,541) Loans and other finance receivables, excluding loans at fair value (non-GAAP) $ 2,164,359 $ 2,167,485 $ 2,156,204 $ 2,148,391 $ 2,093,709 ACL to loans and other finance receivables (GAAP) 0.99 % 0.97 % 0.99 % 1.01 % 0.99 % ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP) 0.99 % 0.98 % 1.00 % 1.01 % 1.00 % RECONCILIATION OF NON-GAAP MEASURES Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Pre-Provision Net Revenue Reconciliation Three Months Ended (Dollars in thousands, except per share data) June 30, 2026 March 31, 2026 June 30, 2025 Income before income tax expense $ 7,479 $ 2,588 $ 7,287 Provision for credit losses 2,968 7,493 3,803 Pre-provision net revenue $ 10,447 $ 10,081 $ 11,090 Bank $ 9,387 $ 10,513 $ 9,005 Wealth 574 811 604 Mortgage 486 (1,243) 1,481 Pre-provision net revenue $ 10,447 $ 10,081 $ 11,090 Meridian Corporation 25
(dollars in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Tangible common equity ratio - Corporation: Total stockholders' equity (GAAP) $ 204,810 $ 200,225 $ 199,716 $ 188,029 $ 178,020 Less: Goodwill and intangible assets (3,360) (3,411) (3,462) (3,513) (3,564) Tangible common equity (non-GAAP) $ 201,450 $ 196,814 $ 196,254 $ 184,516 $ 174,456 Total assets (GAAP) $ 2,593,176 $ 2,576,581 $ 2,561,995 $ 2,541,130 $ 2,510,938 Less: Goodwill and intangible assets (3,360) (3,411) (3,462) (3,513) (3,564) Tangible assets (non-GAAP) $ 2,589,816 $ 2,573,170 $ 2,558,533 $ 2,537,617 $ 2,507,374 Tangible common equity ratio (non-GAAP) 7.78 % 7.65 % 7.67 % 7.27 % 6.96 % Tangible common equity ratio - Bank: Total stockholders' equity (GAAP) $ 249,468 $ 244,621 $ 244,064 $ 236,038 $ 228,127 Less: Goodwill and intangible assets (3,360) (3,411) (3,462) (3,513) (3,564) Tangible common equity (non-GAAP) $ 246,108 $ 241,210 $ 240,602 $ 232,525 $ 224,563 Total assets (GAAP) $ 2,591,551 $ 2,575,135 $ 2,560,485 $ 2,541,395 $ 2,510,684 Less: Goodwill and intangible assets (3,360) (3,411) (3,462) (3,513) (3,564) Tangible assets (non-GAAP) $ 2,588,191 $ 2,571,724 $ 2,557,023 $ 2,537,882 $ 2,507,120 Tangible common equity ratio (non-GAAP) 9.51 % 9.38 % 9.41 % 9.16 % 8.96 % RECONCILIATION OF NON-GAAP MEASURES Meridian Corporation 26