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Meridian Bank ( (MRBK) ) has shared an announcement.
Meridian Corporation reported a significant improvement in its financial performance for the fourth quarter of 2024, with net income rising by 18.1% to $5.6 million and a yearly increase of 23.4% to $16.3 million. The company declared a quarterly dividend of $0.125 per share, reflecting its strong earnings and loan growth of 12% for the year. The mortgage group turned around from a loss in 2023 to a pre-tax income of $4.1 million, demonstrating operational leverage. The wealth segment also experienced robust growth, nearly doubling pre-tax income to $2.4 million. With the expectation of reduced regulatory burdens, Meridian aims to enhance returns for shareholders.
More about Meridian Bank
Meridian Corporation is a financial services provider primarily engaged in commercial lending, wealth management, and mortgage services. The company focuses on leveraging its brand to deepen relationships with commercial customers and expanding its assets under management.
YTD Price Performance: 12.25%
Average Trading Volume: 27,143
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $176.1M
Find detailed analytics on MRBK stock on TipRanks’ Stock Analysis page.