Meridian Corporation · NASDAQ:MRBK
Meridian — Shareholder Meeting (May 2024)
9 slides from Meridian's shareholder meeting presentation, May 21, 2024
Slide 1: Annual Meeting May 21, 2024
Annual Meeting May 21, 2024 NASDAQ: MRBK
Slide 2: MRBK Investment Highlights
MRBK INVESTMENT HIGHLIGHTS "Go to" bank in the Delaware Valley Regional presence with a community touch. Demonstrated organic Valuable customer base growth engine in Comfortably handle all but the largest trained to solely use diversified loan electronic channel. segments. companies. Strong sales cu
Slide 3: Geographic Footprint
GEOGRAPHIC FOOTPRINT Regional Market Full service branch Loan production office • Serves PA, NJ, DE & MD • Philadelphia MSA is 8th largest in the US • HQ in Malvern, PA • 6 full service branches • Main office - Wayne, PA • 8 mortgage loan production offices Satellite Commercial Loan Production Offic
Slide 4: 2023 Financial Recap
2023 FINANCIAL RECAP Balance Sheet Trends 2,300,000 2,000,000 1,700,000 1,400,000 1,100,000 800,000 500,000 200,000 2019 2020 2021 2022 2023 Deposits Loans Assets Meridian Corporation 4
Slide 5: Q1'2024 Highlights
Q1'2024 HIGHLIGHTS March 31, December 31, March 31, Balance Sheet ($ in Millions) 2024 2023 2023 Total Assets $ 2,293 $ 2,246 $ 2,230 Total Loans & Leases² $ 1,985 $ 1,921 $ 1,854 Deposits $ 1,901 $ 1,823 $ 1,770 Equity $ 160 $ 158 $ 153 Tangible Equity to Tangible Assets3 6.82 % 6.87 % 6.70 % Net I
Slide 6: Qtr Income Statement Trends ($000s)
QTR INCOME STATEMENT TRENDS ($000s) Earnings per Share Q1'2024 Q4'2023 Q1'2023 Basic earnings per share $ 0.24 $ 0.05 $ 0.42 Diluted earnings per share $ 0.24 $ 0.05 $ 0.41 Pre-tax Income by Segment Q1'2024 Q4'2023 Q1'2023 Bank $ 6,406 $ 5,757 $ 8,358 Wealth 478 267 231 Mortgage (465) (668) (2,063)
Slide 7: Net Interest Margin
NET INTEREST MARGIN Meridian Corporation 7
Slide 8: Loan Portfolio Diversification
LOAN PORTFOLIO DIVERSIFICATION (as a % of total loans) Non-owner occupied loans Included in RE Investment: % of Total Type Amount Loans Industrial 77,918 4 % Total Loans Office 51,617 3 % $2.0 billion Hotel 51,607 3 % Retail 18,340 1 % Other 35,242 2 % Total 234,724 13 % 1 Meridian Corporation 8
Slide 9: MRBK Growth History
MRBK GROWTH HISTORY Economic Tangible Book Value (TBV + Dividends) 9.8% CAGR MRBK Began 2 Special Qtr Dividends Dividends 6.4% CAGR Peer group Purchase Wealth Company • Good stewards of capital with better than peer TBV + dividend growth Peer group consists of all NASDAQ listed banks between $1 and