Meridian Corp
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
MRBK$16.75-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows – and
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| (dollars in thousands) | 2026 | 2025 |
| Net income | $13,020 | $14,650 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Gain on sale of investment securities available-for-sale | — | (48) |
| Net amortization of investment premiums and discounts and change in fair value of equity securities | 640 | 1,630 |
| Depreciation and amortization (accretion), net | 225 | (87) |
| Provision for credit losses | 11,591 | 11,865 |
| Amortization of issuance costs on subordinated debt | 94 | 93 |
| Stock based compensation | 206 | 276 |
| Net change in fair value of derivative instruments | 129 | (176) |
| Net change in fair value of loans held for sale | 119 | (198) |
| Net change in fair value of loans held for investment | 929 | (573) |
| Amortization and net impairment of servicing rights | 467 | 450 |
| Net loss (gain) on sale of MSRs | 159 | (415) |
| Gain on sale of OREO | (218) | (15) |
| Write-down of OREO | 508 | — |
| SBA loan income | (453) | (4,167) |
| Proceeds from sale of loans | 620,724 | 584,846 |
| Loans originated for sale | (613,828) | (565,183) |
| Mortgage banking income | (15,329) | (15,069) |
| Increase in accrued interest receivable | (1,112) | (986) |
| (Increase) decrease in other assets | (1,162) | 4,700 |
| Earnings from investment in bank owned life insurance | (809) | (708) |
| Increase in deferred income tax | (332) | (977) |
| (Decrease) increase in accrued interest payable | (1,865) | 235 |
| (Decrease) increase in other liabilities | 798 | 333 |
| Net cash provided by operating activities | 14,501 | 30,476 |
| Cash flows from investing activities: | ||
| Activity in available-for-sale securities: | ||
| Maturities, repayments and calls | 19,185 | 12,223 |
| Sales | — | 2,462 |
| Purchases | (38,310) | (33,224) |
| Activity in held-to-maturity securities: | ||
| Maturities, repayments and calls | — | 1,000 |
| Proceeds from sale of OREO | 938 | 15 |
| Proceeds from sale of MSRs | — | 502 |
| Proceeds from sale of loans held for investment | 20,152 | 76,973 |
| Net redemptions (purchases) of restricted investments in bank stocks | 682 | (597) |
| Net increase in loans | (25,876) | (213,861) |
| Purchases of premises and equipment | (851) | (1,338) |
| Disposal of premise and equipment | — | 23 |
| Net cash used in investing activities | (24,080) | (155,822) |
| Cash flows from financing activities: | ||
| Net increase in deposits | 8,754 | 125,748 |
| Increase (decrease) in short-term borrowings | 8,475 | 28,039 |
| Decrease in long-term debt | (10,594) | (15,245) |
| Repayment of subordinated debt | (211) | (13) |
| Dividends paid | (4,995) | (4,235) |
| Stock based awards and exercises | 949 | 789 |
| Proceeds from issuance of common stock | — | 2,790 |
| Net cash provided by financing activities | 2,378 | 137,873 |
| Net change in cash and cash equivalents | (7,201) | 12,527 |
| Cash and cash equivalents at beginning of period | 35,778 | 27,462 |
| Cash and cash equivalents at end of period | $28,577 | $39,989 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest | $55,381 | $59,202 |
| Income taxes: | ||
| Federal | 7,240 | 5,650 |
| State | 520 | 649 |
| Total Income taxes paid | 7,760 | 6,299 |
| Net loans sold, not settled | 677 | 1,264 |
| Non-cash transfers from long-term borrowings to short-term borrowings | 10,594 | — |
| Non-cash transfers from loans receivable to OREO | — | 1,297 |
| Non-cash transfers from loans receivable to repossessed assets | 20 | 2,417 |
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