Meridian Corporation reported financial results for the third quarter of 2026, showing a net income of $5.2 million, or $0.43 per diluted share. This figure represents a decrease of $600,000, or 10.3%, compared to the previous quarter. The company also reported a return on average assets of 0.80% and a return on average equity of 9.97% for the quarter.
The company’s net interest margin increased to 3.77%, an improvement of 8 basis points from the prior quarter. This increase was driven by a rise in the yield on loans held for investment and an increase in average non-interest bearing deposits. However, total assets decreased by $21.6 million to $2.6 billion as of September 30, 2026. Total portfolio loans also decreased by $13.7 million during the same period.
Non-interest income for the quarter was $6.7 million, a decrease of $3.2 million from the prior quarter. This decline was primarily attributed to a drop in mortgage banking income and a decrease in the fair value of loans held for investment. Conversely, wealth management income increased by 10.0% to $1.9 million, driven by higher stock market indices.
In other company news, the Board of Directors declared a quarterly cash dividend of $0.14 per common share. This dividend is payable on November 16, 2026, to shareholders of record as of November 9, 2026. CEO Christopher J. Annas noted that the company is focused on resolving non-performing loans and has strengthened its treasury and payments teams to improve its deposit franchise.
