Meridian Corporation · NASDAQ:MRBK
Meridian — Investor Presentation (2022)
16 slides from Meridian's investor presentation, 2022
Slide 1: 4th QTR 2021 Investor Presentation
® 4th QTR 2021 INVESTOR PRESENTATION NASDAQ: MRBK
Slide 2: Forward-Looking Statements
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
Slide 3: Who We Are
WHO WE ARE Profile and Business Lines Geographic Footprint Meridian specializes in business and industrial lending, retail and commercial Branches Mortgage LPOs real estate lending, electronic payments, along with a broad menu of high- yield depository products supported by robust online and mobile
Slide 4: What We Deliver
WHAT WE DELIVER Lending expertise in commercial/industrial, real estate & consumer with a consultative approach. Our experienced business bankers craft custom financial solutions to help our customers thrive. Demonstrated organic growth engine in diversified loan segments, capitalizing on sales cult
Slide 5: 4QTR Highlights
4QTR HIGHLIGHTS 4QTR Overview Financial Highlights 4QTR 2021¹ Net income was $7.7 million for the quarter, or $1.24 Balance Sheet ($ in Millions) per diluted share, driven by loan and deposit growth. Total revenues of $35.3 million, resulting in ROE of 19.15% and ROA of 1.74% for 4Q 2021. 7th consec
Slide 6: Summary Income Statement
SUMMARY INCOME STATEMENT (dollars in thousands) Net interest income up $65 thousand Summary Income Statement 4Q 2021 3Q 2021 4Q 2020 Negative provision due to continued Net Interest Income $ 16,322 $ 16,257 $ 15,018 improvement in economic conditions Provision for Loan Loss (222) 597 1,163 captured
Slide 7: Net Interest Income Growth Trend
NET INTEREST INCOME GROWTH TREND NIM excl PPP expanded 3.76% $18,000 35 bps since Q2 2020 3.90% 3.83% 3.83% 3.72% 3.80% $16,000 3.75% 3.67% 3.70% $14,000 3.59% 3.73% 3.72% 3.61% 3.41% 3.70% 3.49% 3.60% $12,000 3.61% 3.47% 3.64% 3.50% 3.48% $10,000 3.52% 3.40% $8,000 3.30% $6,000 3.26% 3.20% 3.27% $4
Slide 8: Non-Interest Income
NON-INTEREST INCOME (Dollars in thousands) 4Q 2021 3Q 2021 Change Quarter ended December 31, 2021 Mortgage banking income (including FV changes) 13,148 16,666 (3,518) (% of total non-interest income) Wealth management income 1,270 1,232 38 Mortgage banking income (including FV changes) SBA income 1,
Slide 9: Non-Interest Expense
NON-INTEREST EXPENSE (Dollars in thousands) 4Q 2021 3Q 2021 Change Quarter ended December 31, 2021 Salaries and employee benefits 17,042 19,472 (2,430) (% of total non-interest expense) Occupancy and equipment 1,085 1,133 (48) Salaries and employee benefits Professional fees 929 873 56 Occupancy and
Slide 10: Asset Quality
ASSET QUALITY December 31, 2021 Nonaccrual Loans / Loans2 (%) Reserves / Loans1 (%) 1.65% 1.65% 1.34% 1.58% 1.52% 1.46% 0.49% 0.48% 0.52% 0.39% 0.97% 0.30% 0.46% 1.00% 2018 2019 2020 1Q21 2Q21 3Q21 4Q21 2018 2019 2020 1Q21 2Q21 3Q21 4Q21 Net Charge-offs / Average Loans2 (%) 4Q 2021 Highlights: 0.03%
Slide 11: Update on COVID-19 Support to Customers
Update on COVID-19 Support to Customers CARES Act Loan Deferrals Note 1: One loan relationship for $13.8 million within the advertising industry had CARES Act (dollars in millions) payment deferrals that expired. During 4Q, the Loan Deferrals by Industry 4Q 2021 3Q 2021 4Q 2020 loan was reclassified
Slide 12: Capitalization as of 12/31/2021
CAPITALIZATION AS OF 12/31/2021 All corporate capital ratios Capital Excess Over Regulatory Minimums ($000s) significantly exceed well capitalized regulatory 14.81% 220,000 requirements 200,000 Bank level - Community 180,000 9.42% 10.83% 10.83% 63,894 Banking Leverage Ratio 160,000 of 11.51% compare
Slide 13: Appendix
APPENDIX Meridian Corporation 13
Slide 14: Historical Financial Highlights
HISTORICAL FINANCIAL HIGHLIGHTS For the Year Ended For the Quarter Ended Dollar Values in Thousands, Except Per Share Amounts 2018Y 2019Y 2020Y 1Q 2021 2Q 2021 3Q 2021 4Q 2021 Balance Sheet Total Assets $ 997,480 $ 1,150,019 $ 1,720,197 $ 1,743,977 $ 1,709,010 $ 1,762,445 $ 1,713,443 Loans 1 875,801
Slide 15: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Tangible common equity to tangible assets Management uses the measure tangible common equity to tangible assets to assess our capital strength. We believe that this non-GAAP financial measure is useful to investors because, by removing the impact of our
Slide 16: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Dollar Values in Thousands For the Quarter Ended Reconciliation of PPP Related Non-GAAP Measures 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 Reconciliation of Net Interest Margin (TEY, exluding PPP loans and PPPLF borrowings) Net interest margin (TEY) 3.59%