v3.26.3
Segments
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
ASC Topic 280 – Segment Reporting identifies operating segments as components of an enterprise which are evaluated regularly by the Corporation’s Chief Operating Decision Maker, our Chief Executive Officer, in deciding how to allocate resources and assess performance. The Corporation has applied the aggregation criterion set forth in this codification to the results of its operations.
Our Banking segment (“Bank”) consists of commercial and retail banking. The Banking segment generates interest income from its lending and investing activities and is dependent on the gathering of lower cost deposits from its branch network or borrowed funds from other sources for funding its loans, resulting in the generation of net interest income. The Banking segment also derives revenues from other sources including gains on the sale of SBA loans, sales of available for sale investment securities, service charges on deposit accounts, cash sweep fees, overdraft fees, BOLI income, title insurance fees, and other less significant non-interest income. Interest expense, provisions for credit losses, and payroll provide the significant expenses in the banking operation.
Meridian Wealth (“Wealth”), a registered investment advisor and wholly-owned subsidiary of the Bank, provides a comprehensive array of wealth management services and products and the trusted guidance to help its clients and our banking customers prepare for the future. Segment income before income taxes is used to assess the performance of the wealth segment by monitoring the generation of wealth management income as the wealth segment generates non-interest income through advisory fees. The cost of marketing, business development, and payroll provide the significant expenses in wealth.
Meridian’s mortgage banking segment (“Mortgage”) consists of 7 loan production offices throughout suburban Philadelphia and Maryland. Segment income before income taxes is used to assess the performance of the mortgage banking segment by monitoring the gains received on loan sales. The Mortgage segment originates 1 – 4 family residential mortgages and sells nearly all of its production to third party investors. The unit generates net interest income on the loans it originates and holds temporarily, then earns fee income (primarily gain on sales) at the time of the sale. The unit also recognizes income from document preparation fees, changes in portfolio pipeline fair values and related net hedging gains (losses). The cost of loans sales and payroll provide the significant expenses in mortgage banking.

The table below summarizes income and expenses, directly attributable to each business line, which have been included in the statement of operations. Total assets for each segment is also provided.
Segment Information
Three Months Ended September 30, 2026
Three Months Ended September 30, 2025
(dollars in thousands)BankWealthMortgageTotalBankWealthMortgageTotal
Interest income$40,836 $— $617 $41,453 $42,584 $— $525 $43,109 
Interest expense17,597 (59)479 18,017 19,612 (43)424 19,993 
Net interest income23,239 59 138 23,436 22,972 43 101 23,116 
Provision for credit losses1,130 — — 1,130 2,850 — — 2,850 
Net interest income after provision22,109 59 138 22,306 20,122 43 101 20,266 
Non-interest Income:
Mortgage banking income76 — 4,627 4,703 76 — 5,838 5,914 
Wealth management income— 1,877 — 1,877 — 1,610 — 1,610 
SBA loan income(312)— — (312)1,431 — — 1,431 
Net change in fair values34 — (887)(853)38 — 229 267 
Net gain (loss) on hedging activity— — 132 132 — — (166)(166)
Other1,057 — 101 1,158 818 — 79 897 
Non-interest income855 1,877 3,973 6,705 2,363 1,610 5,980 9,953 
Non-interest expense:
Salaries and employee benefits8,111 862 4,646 13,619 8,270 817 4,526 13,613 
Occupancy and equipment941 23 257 1,221 748 2 241 991 
Professional fees1,108 65 99 1,272 947 62 83 1,092 
Data processing and software
1,766 54 396 2,216 1,441 44 380 1,865 
Advertising and promotion637 151 146 934 657 105 115 877 
Pennsylvania bank shares tax230 3 — 233 250 4 — 254 
Other
3,236 89 206 3,531 2,518 107 229 2,854 
Non-interest expense16,029 1,247 5,750 23,026 14,831 1,141 5,574 21,546 
Income (loss) before income taxes$6,935 $689 $(1,639)$5,985 $7,654 $512 $507 $8,673 
As of September 30, 2026
As of September 30, 2025
Total Assets$2,481,127 $14,610 $75,808 $2,571,545 $2,478,694 $12,559 $49,877 $2,541,130 
Segment Information
Nine Months Ended September 30, 2026
Nine Months Ended September 30, 2025
(Dollars in thousands)BankWealthMortgageTotalBankWealthMortgageTotal
Interest income$121,385 $— $1,560 $122,945 $122,141 $— $1,347 $123,488 
Interest expense52,475 (177)1,218 53,516 58,440 (116)1,113 59,437 
Net interest income68,910 177 342 69,429 63,701 116 234 64,051 
Provision for credit losses11,591 — — 11,591 11,865 — — 11,865 
Net interest income after provision57,319 177 342 57,838 51,836 116 234 52,186 
Non-interest Income:
Mortgage banking income147 — 15,182 15,329 126 — 14,943 15,069 
Wealth management income(1)5,313 — 5,312 (1)4,638 — 4,637 
SBA loan income453 — — 453 4,167 — — 4,167 
(Loss) gain on sale of MSRs— — (159)(159)32 — 383 415 
Net change in fair values91 — (1,268)(1,177)101 — 846 947 
Net gain (loss) on hedging activity— — 200 200 — — (129)(129)
Other3,408 — 259 3,667 2,879 — 580 3,459 
Non-interest income4,098 5,313 14,214 23,625 7,304 4,638 16,623 28,565 
Non-interest expense:
Salaries and employee benefits23,347 2,322 13,529 39,198 23,663 2,030 12,484 38,177 
Occupancy and equipment2,745 66 765 3,576 2,269 12 1,085 3,366 
Professional fees2,912 168 330 3,410 2,643 124 252 3,019 
Data processing and software
4,885 150 1,172 6,207 3,799 129 1,122 5,050 
Advertising and promotion2,122 421 400 2,943 2,301 297 335 2,933 
Pennsylvania bank shares tax727 10 — 737 779 13 — 792 
Other8,304 278 758 9,340 7,185 304 821 8,309 
Non-interest expense45,042 3,415 16,954 65,411 42,639 2,908 16,099 61,646 
Income (loss) before income taxes$16,375 $2,075 $(2,398)$16,052 $16,501 $1,846 $758 $19,105 
As of September 30, 2026As of September 30, 2025
Total Assets$2,481,127 $14,610 $75,808 $2,571,545 $2,478,694 $12,559 $49,877 $2,541,130