メリディアンの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

October 23, 2025

Date of Report (Date of earliest event reported)

(Exact name of registrant as specified in its charter)

Pennsylvania

000-55983

83-1561918

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Ident. No.)

9 Old Lincoln Highway, Malvern, Pennsylvania

19355

(Address of principal executive offices)

(Zip Code)

(484) 568-5000

Registrant’s telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading Symbol(s)

Name of each exchange on which registered:

Common Stock, $1 par value

MRBK

The NASDAQ Stock Market

Item 2.02. Results of Operations and Financial Condition.

On October 23, 2025 Meridian Corporation issued a press release discussing the Corporation’s Third Quarter 2025 Results. A copy is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto and incorporated by reference into Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibit attached hereto, shall not be deemed incorporated by reference into any of the Corporation’s reports or filings with the SEC under the Securities Exchange Act of 1933, as amended (the "Securities Act"), or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing. The information in this Current Report on Form 8-K, including the exhibit attached hereto, shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 7.01. Regulation FD Disclosures.

In connection with the issuance of its earnings for the three months ended September 30, 2025, Meridian Corporation has also made available on its website materials that contain supplemental information about the Corporation's financial results (“Earnings Supplement”). A copy of the earnings supplement is attached hereto as Exhibit 99.2 and is incorporated by reference in this Item 7.01. The information contained in this Item 7.01 of this Report on Form 8-K, including Exhibit 99.2, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01. Other Events.

Quarterly Dividend

On October 23, 2025, Meridian Corporation’s Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable November 17, 2025, to shareholders of record as of November 10, 2025.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is furnished herewith:

99.1 Press Release, issued October 23, 2025

99.2 Earnings Supplement, issued October 23, 2025

EXHIBIT INDEX



Exhibit No.						Description of Exhibit

99.1						Press Release, issued October 2 3 , 2025

99.2						Earnings Supplement, issued October 2 3 , 2025

104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MERIDIAN CORPORATION
(Registrant)

Dated: October 23, 2025

By:

/s/ Denise Lindsay

Denise Lindsay

Executive Vice President and Chief Financial Officer

EX-99.1 2 q32025-earningsreleasexex9.htm EX-99.1 Document

Exhibit 99.1

Meridian Corporation Reports Third Quarter 2025 Results and Announces a Quarterly Dividend of $0.125 per Common Share.

MALVERN, PA., October 23, 2025 — Meridian Corporation (Nasdaq: MRBK) today reported:


	Three Months Ended
(Dollars in thousands, except per share data)(Unaudited)	September 30, 2025		June 30, 2025		September 30, 2024
Income:
Net income	$	6,659	$	5,592	$	4,743
Diluted earnings per common share	0.58		0.49		0.42
Pre-provision net revenue (PPNR) (1)	11,523		11,090		8,527

(1) See Non-GAAP reconciliation in the Appendix

•Net income for the quarter ended September 30, 2025 was $6.7 million, or $0.58 per diluted share, up $1.1 million, or 19%, from prior quarter.

•Pre-provision net revenue1 for the quarter was $11.5 million, an improvement of $3.0 million, or 35%. from Q3'2024.

•Net interest margin was 3.77% for the third quarter of 2025, while loan yield improved to 7.37%, from prior quarter.

•Return on average assets and return on average equity for the third quarter of 2025 were 1.04% and 14.42%, respectively.

•Total assets at September 30, 2025 were $2.5 billion, compared to $2.5 billion at June 30, 2025 and $2.4 billion at September 30, 2024.

•Commercial loans, excluding leases, increased $54.2 million, or 3% from prior quarter.

•On October 23, 2025, the Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable November 17, 2025 to shareholders of record as of November 10, 2025.

Christopher J. Annas, Chairman and CEO commented:

"We are pleased to report that Meridian's third quarter 2025 earnings rose 19% over the prior quarter to $6.7 million, benefiting from an improved margin and continued strong loan growth. The net interest margin rose to 3.77% for the quarter, and has steadily risen from 3.20% in the third quarter 2024. Loan growth in our principal commercial/industrial and real estate segments remains strong, and offsets loan sales in SBA and lease paydowns. We are challenged with elevated nonperforming loans and leases, but working these hard through consistent monitoring.

Our wealth and mortgage units had profitable quarters in line with expectations, as we benefit from outreach and consistent referral opportunities from our existing customers. Expenses were generally flat from prior quarter, despite seasonal commissions/bonuses in the mortgage group.

There have been numerous acquisitions in our market over the past year, and we will capitalize on the turmoil for both customers and new lenders. Our branding and outreach in this metro market is unparalleled and we hope to benefit from this and the reduced competition." Third quarter net income increased $1.1 million, or 19.1%, to $6.7 million as net interest income increased $2.0 million and the provision for credit losses decreased $1.0 million.

Exhibit 99.1

Select Condensed Financial Information


	As of or for the three months ended (Unaudited)
	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
	(Dollars in thousands, except per share data)
Income:
Net income	$	6,659		$	5,592		$	2,399		$	5,600		$	4,743
Basic earnings per common share	0.59			0.50			0.21			0.50			0.43
Diluted earnings per common share	0.58			0.49			0.21			0.49			0.42
Net interest income	23,116			21,159			19,776			19,299			18,242

Balance Sheet:
Total assets	$	2,541,130		$	2,510,938		$	2,528,888		$	2,385,867		$	2,387,721
Loans, net of fees and costs	2,162,845			2,108,250			2,071,675			2,030,437			2,008,396
Total deposits	2,131,116			2,110,374			2,128,742			2,005,368			1,978,927
Non-interest bearing deposits	239,614			237,042			323,485			240,858			237,207
Stockholders' equity	188,029			178,020			173,568			171,522			167,450

Balance Sheet Average Balances:
Total assets	$	2,534,565		$	2,491,625		$	2,420,571		$	2,434,270		$	2,373,261
Total interest earning assets	2,443,261			2,404,952			2,330,224			2,342,651			2,277,523
Loans, net of fees and costs	2,146,651			2,113,411			2,039,676			2,029,739			1,997,574
Total deposits	2,143,821			2,095,028			2,036,208			2,043,505			1,960,145
Non-interest bearing deposits	253,374			249,745			244,161			259,118			246,310
Stockholders' equity	183,242			176,945			174,734			171,214			165,309

Performance Ratios (Annualized):
Return on average assets	1.04		%	0.90		%	0.40		%	0.92		%	0.80		%
Return on average equity	14.42		%	12.68		%	5.57		%	13.01		%	11.41		%

Income Statement - Third Quarter 2025 Compared to Second Quarter 2025

These improvements to net income were partially offset by a $1.3 million decrease in non-interest income, and a $189 thousand increase to non-interest expense over the prior quarter. Detailed explanations of the major categories of income and expense follow below.

Exhibit 99.1

Net Interest income

The rate/volume analysis table below analyzes dollar changes in the components of interest income and interest expense as they relate to the change in balances (volume) and the change in interest rates (rate) of tax-equivalent net interest income for the periods indicated and allocated by rate and volume. Changes in interest income and/or expense related to changes attributable to both volume and rate have been allocated proportionately based on the relationship of the absolute dollar amount of the change in each category.


	Three Months Ended
(dollars in thousands)	September 30, 2025		June 30, 2025		$ Change		% Change		Change due to rate		Change due to volume
Interest income:
Cash and cash equivalents	$	412	$	427	$	(15)	(3.5)	%	$	(10)	$	(5)

Investment securities - taxable	1,895		1,792		103		5.7	%	38		65
Investment securities - tax exempt (1)	400		364		36		9.9	%	39		(3)
Loans held for sale	536		495		41		8.3	%	11		30
Loans held for investment (1)	39,942		38,204		1,738		4.5	%	926		812
Total loans	40,478		38,699		1,779		4.6	%	937		842
Total interest income	$	43,185	$	41,282	$	1,903	4.6	%	$	1,004	$	899
Interest expense:
Interest-bearing demand deposits	$	1,314	$	1,354	$	(40)	(3.0)	%	$	(53)	$	13
Money market and savings deposits	8,322		8,097		225		2.8	%	(139)		364
Time deposits	7,782		7,850		(68)		(0.9)	%	(177)		109
Total interest - bearing deposits	17,418		17,301		117		0.7	%	(369)		486
Borrowings	1,495		1,672		(177)		(10.6)	%	(16)		(161)
Subordinated debentures	1,080		1,079		1		0.1	%	(1)		2
Total interest expense	19,993		20,052		(59)		(0.3)	%	(386)		327
Net interest income differential	$	23,192	$	21,230	$	1,962	9.24	%	$	1,390	$	572
(1) Reflected on a tax-equivalent basis.

Interest income increased $1.9 million quarter-over-quarter on a tax equivalent basis, driven by higher yields and increased average balances of interest earning assets. The yield on interest-earnings assets increased 12 basis points and contributed $1.0 million to interest income, aided in part by an increase in loan fees of $181 thousand, while the average balance of interest earning assets increased by $38.3 million, and contributed $899 thousand to the increase in interest income.

Average total loans, excluding residential loans for sale, increased $33.3 million. The largest drivers of this increase were commercial, commercial real estate, construction, and small business loans which on a combined basis increased $29.1 million on average, partially offset by a decrease in average leases of $9.0 million. Home equity, residential real estate, consumer and other loans held in portfolio increased on a combined basis $13.1 million on average.

Interest expense decreased $59 thousand, quarter-over-quarter, due to a decline in the cost of deposits and borrowings, partially offset by a higher volume of interest-bearing deposits and borrowings. Interest expense on total deposits increased $117 thousand and interest expense on borrowings decreased $177 thousand. During the period, interest-bearing checking accounts and money market accounts increased $1.3 million and $35.9 million on average, respectively, while time deposits increased $7.9 million on average. Borrowings decreased $14.5 million on average. On a rate basis, interest-bearing checking accounts, money market accounts, and time deposits experienced a decrease in the cost, with the overall cost of deposits dropping 9 basis points.

Overall the net interest margin increased 23 basis points to 3.77% as the cost of funds declined and the yield on earning assets increased. Absent the increase in loan fees, the net interest margin would have been 3.68%.

Provision for Credit Losses

The overall provision for credit losses for the third quarter decreased $953 thousand to $2.9 million, from $3.8 million in the second quarter. The lower provisioning was positively impacted by a $1.7 million decrease in net charge-offs.

Exhibit 99.1

Non-interest income

The following table presents the components of non-interest income for the periods indicated:


	Three Months Ended
(Dollars in thousands)	September 30, 2025		June 30, 2025		$ Change		% Change
Mortgage banking income	$	5,914	$	5,762	$	152	2.6	%
Wealth management income	1,610		1,492		118		7.9	%
SBA loan income	1,431		1,988		(557)		(28.0)	%
Earnings on investment in life insurance	246		240		6		2.5	%
Net gain on sale of MSRs	—		467		(467)		(100.0)	%

Net change in the fair value of derivative instruments	129		(102)		231		(226.5)	%
Net change in the fair value of loans held-for-sale	(75)		171		(246)		(143.9)	%
Net change in the fair value of loans held-for-investment	213		190		23		12.1	%
Net (loss) gain on hedging activity	(166)		16		(182)		(1137.5)	%

Other	651		1,064		(413)		(38.8)	%
Total non-interest income	$	9,953	$	11,288	$	(1,335)	(11.8)	%

Total non-interest income decreased $1.3 million, or 11.8%, quarter-over-quarter largely due to a $557 thousand decline in SBA loan income, and a $467 thousand decline in net gain on sale of MSRs. Partially offsetting these decreases were a $152 thousand positive improvement in mortgage banking income, and an increase of $118 thousand in wealth management income. Mortgage loan sales experienced a minor decline quarter-over-quarter, with a drop of $5.5 million or 2.6%. Despite this decrease in overall sales, margin increased 13 basis points resulting in a higher level of mortgage banking income.

SBA loan income decreased $557 thousand as the volume of SBA loans sold were down $14.2 million to $25.3 million, for the quarter-ended September 30, 2025 compared to the quarter-ended June 30, 2025. The gross margin on SBA sales was 7.4% for the quarter, an improvement from 6.2% for the previous quarter.

Non-interest expense

The following table presents the components of non-interest expense for the periods indicated:


	Three Months Ended
(Dollars in thousands)	September 30, 2025		June 30, 2025		$ Change		% Change
Salaries and employee benefits	$	13,613	$	13,179	$	434	3.3	%
Occupancy and equipment	991		1,037		(46)		(4.4)	%
Professional fees	1,092		1,164		(72)		(6.2)	%
Data processing and software	1,865		1,706		159		9.3	%
Advertising and promotion	877		1,277		(400)		(31.3)	%
Pennsylvania bank shares tax	254		269		(15)		(5.6)	%
Other	2,854		2,725		129		4.7	%
Total non-interest expense	$	21,546	$	21,357	$	189	0.9	%

Overall salaries and benefits increased $434 thousand, largely attributable to the variable nature of the mortgage segment. Data processing and software expense increased $159 thousand due to an increase in customer transaction volume, while advertising and promotion expenses decreased $400 thousand as the level of business development activities and special events declined from the prior quarter.

Exhibit 99.1

Balance Sheet - September 30, 2025 Compared to June 30, 2025

Total assets increased $30.2 million, or 1.2%, to $2.5 billion as of September 30, 2025 from $2.5 billion at June 30, 2025.

Portfolio loans grew $54.8 million, or 2.6% quarter-over-quarter. This growth was generated from commercial & industrial loans which increased $14.1 million, or 3.5%, commercial mortgage loans which increased $17.0 million, or 2.0%, and construction loans which increased $29.9 million, or 10.5%. SBA loan balances decreased $6.8 million, or 4.7%, from June 30, 2025, due to the level of SBA loan sales outpacing new loan growth in the third quarter as discussed above in the non-interest income section. Lease financings also decreased $8.1 million, or 13.9% from June 30, 2025, partially offsetting the above noted loan growth, but this decline was expected.

Total deposits increased $20.7 million, or 1.0% quarter-over-quarter, led by an increase of $18.2 million in interest-bearing deposits. Money market accounts and savings accounts increased a combined $39.7 million, non-interest bearing accounts increased $2.6 million or 1.1%, while interest bearing demand deposits decreased $21.9 million. Overall borrowings decreased $1.7 million, or 1.2% quarter-over-quarter.

Total stockholders’ equity increased by $10.0 million from June 30, 2025, to $188.0 million as of September 30, 2025. Changes to equity for the quarter included net income of $6.7 million, a net increase of $2.8 million due to stock issuance under an ATM offering, dividends paid of $1.4 million, and an increase of $1.6 million in other comprehensive income. The Community Bank Leverage Ratio for the Bank was 9.41% at September 30, 2025.

Asset Quality Summary

Non-performing loans increased $4.8 million, to $55.4 million at September 30, 2025 compared to $50.5 million at June 30, 2025, with increases coming from SBA loans, construction loans, commercial loans, and residential loans. Included in non-performing loans are $21.3 million of SBA loans of which $11.8 million, or 56%, are guaranteed by the SBA. The SBA portfolio was subject to the Fed's rapid rate increase and $12.8 million, or 60% of these non-performing loans originated in 2020-2021 when rates were lower by over 500 basis points. As a result of these changes in non-performing loans, the ratio of non-performing loans to total loans increased 18 bps to 2.53% as of September 30, 2025, from 2.35% as of June 30, 2025. The ratio of non-performing loans to total loans, excluding the guaranteed portion of the SBA portfolio was 1.99%.

Net charge-offs decreased to $1.9 million, or 0.09% of total average loans for the quarter ended September 30, 2025, compared to net charge-offs of $3.6 million, or 0.17%, for the quarter ended June 30, 2025. Third quarter charge-offs mainly consisted of $997 thousand in SBA loans, $273 thousand of small ticket equipment leases, and $185 thousand in commercial loans. Overall there were recoveries of $214 thousand, mainly related to leases.

The ratio of allowance for credit losses to total loans held for investment was 1.01% as of September 30, 2025, slightly up from 1.00% reported as of June 30, 2025, as qualitative reserve factors increased in the third quarter ACL calculation. As of September 30, 2025 there were specific reserves of $3.3 million against individually evaluated loans, a slight increase of $85 thousand from the level of specific reserves as of June 30, 2025.

About Meridian Corporation

Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware and Maryland. Through its 17 offices, including banking branches and mortgage locations, Meridian offers a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, electronic payments, and wealth management solutions through Meridian Wealth Partners. Meridian also offers a broad menu of high-yield depository products supported by robust online and mobile access. For additional information, visit our website at www.meridianbanker.com. Member FDIC.

Exhibit 99.1

“Safe Harbor” Statement

In addition to historical information, this press release may contain “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 with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cyber-security concerns; rapid technological developments and changes; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; escalating tariff and other trade policies and the resulting impacts on market volatility and global trade; the impact of uncertain or changing political conditions or any current or future federal government shutdown and uncertainty regarding the federal government's debt limit; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Meridian Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Meridian Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Meridian Corporation or by or on behalf of Meridian Bank.

Exhibit 99.1

MERIDIAN CORPORATION AND SUBSIDIARIES

FINANCIAL RATIOS (Unaudited)

(Dollar amounts and shares in thousands, except per share amounts)


	Three Months Ended
	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Earnings and Per Share Data:
Net income	$	6,659		$	5,592		$	2,399		$	5,600		$	4,743
Basic earnings per common share	$	0.59		$	0.50		$	0.21		$	0.50		$	0.43
Diluted earnings per common share	$	0.58		$	0.49		$	0.21		$	0.49		$	0.42
Common shares outstanding	11,517			11,297			11,285			11,240			11,229

Performance Ratios:
Return on average assets (2)	1.04		%	0.90		%	0.40		%	0.92		%	0.80		%
Return on average equity (2)	14.42			12.68			5.57			13.01			11.41
Net interest margin (tax-equivalent) (2)	3.77			3.54			3.46			3.29			3.20

Yield on earning assets (tax-equivalent) (2)	7.01			6.89			6.83			6.81			7.06

Cost of funds (2)	3.42			3.52			3.56			3.71			4.05
Efficiency ratio	65.15		%	65.82		%	69.16		%	65.72		%	70.67		%

Asset Quality Ratios:
Net charge-offs (recoveries) to average loans	0.09		%	0.17		%	0.14		%	0.34		%	0.11		%

Non-performing loans to total loans	2.53			2.35			2.49			2.19			2.20
Non-performing assets to total assets	2.32			2.14			2.07			1.90			1.97
Allowance for credit losses to:
Total loans and other finance receivables	1.01			0.99			1.01			0.91			1.09
Total loans and other finance receivables (excluding loans at fair value) (1)	1.01			1.00			1.01			0.91			1.10

Non-performing loans	39.37		%	41.26		%	39.90		%	40.86		%	48.66		%

Capital Ratios:
Book value per common share	$	16.33		$	15.76		$	15.38		$	15.26		$	14.91
Tangible book value per common share	$	16.02		$	15.44		$	15.06		$	14.93		$	14.58
Total equity/Total assets	7.40		%	7.09		%	6.86		%	7.19		%	7.01		%
Tangible common equity/Tangible assets - Corporation (1)	7.27			6.96			6.73			7.05			6.87
Tangible common equity/Tangible assets - Bank (1)	9.16			8.96			8.61			9.06			8.95

Tier 1 leverage ratio - Bank	9.41			9.32			9.30			9.21			9.32

Common tier 1 risk-based capital ratio - Bank	10.52			10.53			10.15			10.33			10.17

Tier 1 risk-based capital ratio - Bank	10.52			10.53			10.15			10.33			10.17

Total risk-based capital ratio - Bank	11.54		%	11.54		%	11.14		%	11.20		%	11.22		%
(1) See Non-GAAP reconciliation in the Appendix
(2) Annualized

Exhibit 99.1

MERIDIAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(Dollar amounts and shares in thousands, except per share amounts)


	Three Months Ended						Nine Months Ended
	September 30, 2025		June 30, 2025		September 30, 2024		September 30, 2025		September 30, 2024
Interest income:
Loans and other finance receivables, including fees	$	40,477	$	38,697	$	38,103	$	115,723	$	109,928
Securities - taxable	1,895		1,792		1,480		5,380		4,055
Securities - tax-exempt	325		295		320		933		969
Cash and cash equivalents	412		427		416		1,452		1,047
Total interest income	43,109		41,211		40,319		123,488		115,999
Interest expense:
Deposits	17,418		17,301		19,313		51,587		55,696
Borrowings and subordinated debentures	2,575		2,751		2,764		7,850		8,606
Total interest expense	19,993		20,052		22,077		59,437		64,302
Net interest income	23,116		21,159		18,242		64,051		51,697
Provision for credit losses	2,850		3,803		2,282		11,865		7,828
Net interest income after provision for credit losses	20,266		17,356		15,960		52,186		43,869
Non-interest income:
Mortgage banking income	5,914		5,762		6,474		15,069		15,528
Wealth management income	1,610		1,492		1,447		4,637		4,208
SBA loan income	1,431		1,988		544		4,167		2,315
Earnings on investment in life insurance	246		240		222		708		644
Net gain on sale of MSRs	—		467		—		415		—

Net change in the fair value of derivative instruments	129		(102)		(102)		176		176
Net change in the fair value of loans held-for-sale	(75)		171		169		198		138
Net change in the fair value of loans held-for-investment	213		190		965		573		766
Net (loss) gain on hedging activity	(166)		16		(197)		(129)		(279)

Other	651		1,064		1,309		2,751		4,563
Total non-interest income	9,953		11,288		10,831		28,565		28,059
Non-interest expense:
Salaries and employee benefits	13,613		13,179		12,829		38,177		34,839
Occupancy and equipment	991		1,037		1,243		3,366		3,706
Professional fees	1,092		1,164		1,106		3,019		3,633
Data processing and software	1,865		1,706		1,553		5,050		4,591
Advertising and promotion	877		1,277		717		2,933		2,454
Pennsylvania bank shares tax	254		269		181		792		729
Other	2,854		2,725		2,917		8,309		7,786
Total non-interest expense	21,546		21,357		20,546		61,646		57,738
Income before income taxes	8,673		7,287		6,245		19,105		14,190
Income tax expense	2,014		1,695		1,502		4,455		3,445
Net income	$	6,659	$	5,592	$	4,743	$	14,650	$	10,745

Basic earnings per common share	$	0.59	$	0.50	$	0.43	$	1.30	$	0.97
Diluted earnings per common share	$	0.58	$	0.49	$	0.42	$	1.28	$	0.96

Basic weighted average shares outstanding	11,325		11,228		11,110		11,252		11,098
Diluted weighted average shares outstanding	11,540		11,392		11,234		11,458		11,198

Exhibit 99.1

MERIDIAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (Unaudited)

(Dollar amounts and shares in thousands, except per share amounts)


	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Assets:
Cash and due from banks	$	12,605	$	20,604	$	16,976	$	5,598	$	12,542
Interest-bearing deposits at other banks	27,384		29,570		113,620		21,864		19,805
Federal funds sold	—		—		629		—		—
Cash and cash equivalents	39,989		50,174		131,225		27,462		32,347
Securities available-for-sale, at fair value	194,268		187,902		185,221		174,304		171,568
Securities held-to-maturity, at amortized cost	32,593		32,642		32,720		33,771		33,833
Equity investments	2,150		2,130		2,126		2,086		2,166
Mortgage loans held for sale, at fair value	28,016		44,078		28,047		32,413		46,602
Loans and other finance receivables, net of fees and costs	2,162,845		2,108,250		2,071,675		2,030,437		2,008,396
Allowance for credit losses	(21,794)		(20,851)		(20,827)		(18,438)		(21,965)
Loans and other finance receivables, net of the allowance for credit losses	2,141,051		2,087,399		2,050,848		2,011,999		1,986,431
Restricted investment in bank stock	8,350		9,162		8,369		7,753		8,542
Bank premises and equipment, net	12,413		12,320		12,028		12,151		12,807
Bank owned life insurance	30,421		30,175		29,935		29,712		29,489
Accrued interest receivable	10,944		10,334		10,345		9,958		10,012
OREO and other repossessed assets	3,714		3,148		249		276		1,967
Deferred income taxes	4,989		5,314		5,136		4,669		3,537
Servicing assets	3,845		3,658		4,284		4,382		4,364
Servicing assets held for sale	—		—		—		—		6,609
Goodwill	899		899		899		899		899
Intangible assets	2,614		2,665		2,716		2,767		2,818
Other assets	24,874		28,938		24,740		31,265		33,730
Total assets	$	2,541,130	$	2,510,938	$	2,528,888	$	2,385,867	$	2,387,721

Liabilities:
Deposits:
Non-interest bearing	$	239,614	$	237,042	$	323,485	$	240,858	$	237,207
Interest bearing:
Interest checking	151,973		173,865		161,055		141,439		133,429
Money market and savings deposits	996,126		956,448		947,795		913,536		822,837
Time deposits	743,403		743,019		696,407		709,535		785,454
Total interest-bearing deposits	1,891,502		1,873,332		1,805,257		1,764,510		1,741,720
Total deposits	2,131,116		2,110,374		2,128,742		2,005,368		1,978,927
Borrowings	137,265		138,965		139,590		124,471		144,880

Subordinated debentures	49,822		49,792		49,761		49,743		49,928
Accrued interest payable	7,095		7,059		7,404		6,860		7,017
Other liabilities	27,803		26,728		29,823		27,903		39,519
Total liabilities	2,353,101		2,332,918		2,355,320		2,214,345		2,220,271

Stockholders’ equity:
Common stock	13,521		13,300		13,288		13,243		13,232
Surplus	85,122		82,184		82,026		81,545		81,002
Treasury stock	(26,079)		(26,079)		(26,079)		(26,079)		(26,079)
Unearned common stock held by ESOP	(1,006)		(1,006)		(1,006)		(1,006)		(1,204)
Retained earnings	122,376		117,132		112,952		111,961		107,765
Accumulated other comprehensive loss	(5,905)		(7,511)		(7,613)		(8,142)		(7,266)
Total stockholders’ equity	188,029		178,020		173,568		171,522		167,450
Total liabilities and stockholders’ equity	$	2,541,130	$	2,510,938	$	2,528,888	$	2,385,867	$	2,387,721

Exhibit 99.1

MERIDIAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND SEGMENT INFORMATION (Unaudited)

(Dollar amounts and shares in thousands, except per share amounts)


	Three Months Ended
	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Interest income	$	43,109	$	41,211	$	39,168	$	40,028	$	40,319
Interest expense	19,993		20,052		19,392		20,729		22,077
Net interest income	23,116		21,159		19,776		19,299		18,242
Provision for credit losses	2,850		3,803		5,212		3,572		2,282
Non-interest income	9,953		11,288		7,324		13,279		10,831
Non-interest expense	21,546		21,357		18,743		21,411		20,546
Income before income tax expense	8,673		7,287		3,145		7,595		6,245
Income tax expense	2,014		1,695		746		1,995		1,502
Net Income	$	6,659	$	5,592	$	2,399	$	5,600	$	4,743

Basic weighted average shares outstanding	11,325		11,228		11,205		11,158		11,110
Basic earnings per common share	$	0.59	$	0.50	$	0.21	$	0.50	$	0.43

Diluted weighted average shares outstanding	11,540		11,392		11,446		11,375		11,234
Diluted earnings per common share	$	0.58	$	0.49	$	0.21	$	0.49	$	0.42


	Segment Information
	Three Months Ended September 30, 2025												Three Months Ended September 30, 2024
(dollars in thousands)	Bank			Wealth			Mortgage			Total			Bank			Wealth			Mortgage			Total
Net interest income	$	22,972		$	43		$	101		$	23,116		$	18,151		$	46		$	45		$	18,242
Provision for credit losses	2,850			—			—			2,850			2,282			—			—			2,282
Net interest income after provision	20,122			43			101			20,266			15,869			46			45			15,960
Non-interest income	2,363			1,610			5,980			9,953			1,358			1,447			8,026			10,831
Non-interest expense	14,831			1,141			5,574			21,546			13,287			840			6,419			20,546
Income before income taxes	$	7,654		$	512		$	507		$	8,673		$	3,940		$	653		$	1,652		$	6,245
Efficiency ratio	59		%	69		%	92		%	65		%	68		%	56		%	80		%	71		%

	Nine Months Ended September 30, 2025												Nine Months Ended September 30, 2024
(dollars in thousands)	Bank			Wealth			Mortgage			Total			Bank			Wealth			Mortgage			Total
Net interest income	$	63,701		$	116		$	234		$	64,051		$	51,528		$	76		$	93		$	51,697
Provision for credit losses	11,865			—			—			11,865			7,828			—			—			7,828
Net interest income after provision	51,836			116			234			52,186			43,700			76			93			43,869
Non-interest income	7,304			4,638			16,623			28,565			4,908			4,207			18,944			28,059
Non-interest expense	42,639			2,908			16,099			61,646			37,962			2,479			17,297			57,738
Income before income taxes	$	16,501		$	1,846		$	758		$	19,105		$	10,646		$	1,804		$	1,740		$	14,190
Efficiency ratio	60		%	61		%	96		%	67		%	67		%	58		%	91		%	72		%

MERIDIAN CORPORATION AND SUBSIDIARIES

APPENDIX: NON-GAAP MEASURES (Unaudited)

(Dollar amounts and shares in thousands, except per share amounts)

Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.


	Pre-Provision Net Revenue Reconciliation
	Three Months Ended						Nine Months Ended
(Dollars in thousands, except per share data, Unaudited)	September 30, 2025		June 30, 2025		September 30, 2024		September 30, 2025		September 30, 2024
Income before income tax expense	$	8,673	$	7,287	$	6,245	$	19,105	$	14,190
Provision for credit losses	2,850		3,803		2,282		11,865		7,828
Pre-provision net revenue	$	11,523	$	11,090	$	8,527	$	30,970	$	22,018


	Pre-Provision Net Revenue Reconciliation
	Three Months Ended						Nine Months Ended
(Dollars in thousands, except per share data, Unaudited)	September 30, 2025		June 30, 2025		September 30, 2024		September 30, 2025		September 30, 2024
Bank	$	10,504	$	9,005	$	6,222	$	28,366	$	18,474
Wealth	512		604		653		1,846		1,804
Mortgage	507		1,481		1,652		758		1,740
Pre-provision net revenue	$	11,523	$	11,090	$	8,527	$	30,970	$	22,018


	Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding Loans at Fair Value
	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Allowance for credit losses (GAAP)	$	21,794		$	20,851		$	20,827		$	18,438		$	21,965

Loans and other finance receivables (GAAP)	2,162,845			2,108,250			2,071,675			2,030,437			2,008,396

Less: Loans at fair value	(14,454)			(14,541)			(14,182)			(14,501)			(13,965)
Loans and other finance receivables, excluding loans at fair value (non-GAAP)	$	2,148,391		$	2,093,709		$	2,057,493		$	2,015,936		$	1,994,431

ACL to loans and other finance receivables (GAAP)	1.01		%	0.99		%	1.01		%	0.91		%	1.09		%
ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP)	1.01		%	1.00		%	1.01		%	0.91		%	1.10		%


	Tangible Common Equity Ratio Reconciliation - Corporation
	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Total stockholders' equity (GAAP)	$	188,029		$	178,020		$	173,568		$	171,522		$	167,450
Less: Goodwill and intangible assets	(3,513)			(3,564)			(3,615)			(3,666)			(3,717)
Tangible common equity (non-GAAP)	184,516			174,456			169,953			167,856			163,733

Total assets (GAAP)	2,541,130			2,510,938			2,528,888			2,385,867			2,387,721
Less: Goodwill and intangible assets	(3,513)			(3,564)			(3,615)			(3,666)			(3,717)
Tangible assets (non-GAAP)	$	2,537,617		$	2,507,374		$	2,525,273		$	2,382,201		$	2,384,004
Tangible common equity to tangible assets ratio - Corporation (non-GAAP)	7.27		%	6.96		%	6.73		%	7.05		%	6.87		%


	Tangible Common Equity Ratio Reconciliation - Bank
	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Total stockholders' equity (GAAP)	$	236,038		$	228,127		$	220,768		$	219,119		$	217,028
Less: Goodwill and intangible assets	(3,513)			(3,564)			(3,615)			(3,666)			(3,717)
Tangible common equity (non-GAAP)	232,525			224,563			217,153			215,453			213,311

Total assets (GAAP)	2,541,395			2,510,684			2,525,029			2,382,014			2,385,994
Less: Goodwill and intangible assets	(3,513)			(3,564)			(3,615)			(3,666)			(3,717)
Tangible assets (non-GAAP)	$	2,537,882		$	2,507,120		$	2,521,414		$	2,378,348		$	2,382,277
Tangible common equity to tangible assets ratio - Bank (non-GAAP)	9.16		%	8.96		%	8.61		%	9.06		%	8.95		%

	Tangible Book Value Reconciliation
	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Book value per common share	$	16.33		$	15.76		$	15.38		$	15.26		$	14.91
Less: Impact of goodwill /intangible assets	0.31			0.32			0.32			0.33			0.33
Tangible book value per common share	$	16.02		$	15.44		$	15.06		$	14.93		$	14.58

EX-99.2 3 earningssupplement-ex992.htm EX-99.2 earningssupplement-ex992

Third Quarter 2025 NASDAQ: MRBK Earnings Supplement

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 with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cyber-security concerns; rapid technological developments and changes; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; escalating tariff and other trade policies and the resulting impacts on market volatility and global trade; the impact of uncertain or changing political conditions or any current or future federal government shutdown and uncertainty regarding the federal government's debt limit; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review the Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. The Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by the Corporation or by or on behalf of Meridian Bank, except as may be required under applicable laws. Meridian Corporation 2

MRBK INVESTMENT HIGHLIGHTS Regional presence with a community touch. "Go to" bank in the Delaware Valley Demonstrated organic growth engine in diversified loan segments. Focus on Commercial, CRE and SBA lending - 80% of loan book. Valuable customer base trained to solely use electronic channel. Strong sales culture that capitalizes on market disruption. Skilled management team with extensive in-market experience. Comfortably handle all but the largest companies. Meridian Corporation 3

Geographic Footprint Regional Market Meridian Corporation 4

Q3'2025 vs Q3'2024 Financial Recap Summary Income Statement ($000s) Q3'2025 Q3'2024 Net Interest Income $ 23,116 $ 18,242 Provision for Credit Losses 2,850 2,282 Non-Interest Income 9,953 10,831 Non-Interest Expense 21,546 20,546 Income Before Income Taxes 8,673 6,245 Income Taxes 2,014 1,502 Net income $ 6,659 $ 4,743 Earnings Per Share Diluted Earnings Per Share $ 0.58 $ 0.42 Pre-Provision Net Revenue by Segment 1 Bank $ 10,504 $ 6,222 Wealth 512 653 Mortgage 507 1,652 Pre-Provision Net Revenue $ 11,523 $ 8,527 Assets ($M) Loans ($M) Deposits ($M) Q3'2021 Q3'2022 Q3'2023 Q3'2024 Q3'2025 $1,000 $2,000 $3,000 Summary Balance Sheet Q3'2025 Q3'2024 Assets ($M) $ 2,541 $ 2,388 Loans ($M) 2 2,163 2,008 Deposits ($M) 2,131 1,979 Equity ($M) 188 167 1) A Non-GAAP measure. See Non-GAAP reconciliation in the Appendix. 2) Includes loans held for investment. Meridian Corporation 5

For the Calendar Quarter Ended Balance Sheet ($M) Q3'2025 Q2'2025 Q1'2025 Q4'2024 Q3'2024 Total Assets $ 2,541 $ 2,511 $ 2,529 $ 2,386 $ 2,388 Total Loans & Leases² 2,191 2,152 2,100 2,063 2,055 Deposits 2,131 2,110 2,129 2,005 1,979 Equity 188 178 174 172 167 Tangible Equity / Tangible Assets3 7.27 % 6.96 % 6.73 % 7.05 % 6.87 % Net Income & Share Data ($000s) Net Income $ 6,659 $ 5,592 $ 2,399 $ 5,600 $ 4,743 Diluted EPS 0.58 0.49 0.21 0.49 0.42 Price per Common Share 15.79 12.89 14.40 13.71 12.64 TBV per Share 16.02 15.44 15.06 14.93 14.58 Pre-Provision Net Revenue3 11,523 11,090 8,357 11,167 8,527 Common Dividends per Share 0.125 0.125 0.125 0.125 0.125 Dividend Yield (annualized) 3.2 % 3.9 % 3.5 % 3.6 % 4.0 % Profitability (%) ROAE 14.42 % 12.68 % 5.57 % 13.01 % 11.41 % ROAA 1.04 % 0.90 % 0.40 % 0.92 % 0.80 % NIM 3.77 % 3.54 % 3.46 % 3.29 % 3.20 % Q3'2025 HIGHLIGHTS 1) As of and for the quarter ended and year ended September 30, 2025, per October 23, 2025 press release. 2) Includes loans held for sale and loans held for investment. 3) A Non-GAAP measure. See Non-GAAP reconciliation in the Appendix. Meridian Corporation 6

Q3'2025 INCOME STATEMENT TRENDS ($000s) Pre-Provision Net Revenue by Segment Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 Bank $ 6,222 $ 8,205 $ 8,860 $ 9,005 $ 10,504 Wealth 653 571 726 604 512 Mortgage 1,652 2,391 (1,229) 1,481 507 Total Pre-Provision Net Revenue $ 8,527 $ 11,167 $ 8,357 $ 11,090 $ 11,523 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 Net Interest Income Non-Interest Income Non-Interest Expense Pre-Provision Net Revenue Net Income $0 $5,000 $10,000 $15,000 $20,000 Meridian Corporation 7

NET INTEREST MARGIN 3.20% 3.29% 3.46% 3.54% 3.77% 7.06% 6.81% 6.83% 6.89% 7.01% 4.05% 3.71% 3.56% 3.52% 3.42% Net Interest Margin Yield on Earning Assets Cost of Funds Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% Meridian Corporation 8 57 bps

DEPOSIT REPRICING DRIVING DOWN COST OF FUNDS Data as of September 30, 2025 • During Q3, time deposit costs declined 13 bps, aiding improvement in net interest margin • $431 million in term deposits to reprice next six months • Currently repricing at approx. 3.90%, down from 4.16% and 4.09% through months 1 to 3 and 3 to 6, respectively Meridian Corporation 9 Time Deposit Maturity Schedule ($000s) - as of September 30, 2025 4.16% 4.09% 3.92% 3.86% 4.02% 3.64% 3.47% Amount Maturing (000s) Blended Cost by Period 1-3 MONTHS 3-6 MONTHS 6-9 MONTHS 9-12 MONTHS 12-18 MONTHS 18-24 MONTHS > 2 YRS $— $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000 $220,000 $240,000 3.00% 3.50% 4.00% 4.50% 5.00%

NON-INTEREST INCOME (Dollars in thousands) Q3'2025 Q2'2025 $ Change Mortgage banking income 1 5,802 5,847 (45) SBA income 1,431 1,988 (557) Wealth management income 1,610 1,492 118 Net gain on sale of MSRs — 467 (467) Other income 1,110 1,494 (384) Total $ 9,953 $ 11,288 $ (1,335) Note 1 - includes FV change on mortgages HFS and related hedging derivatives. 58.3% 16.2% 14.4% 0.0% 11.2% Mortgage banking income Wealth management income SBA income Net gain on sale of MSR's Other income (% of total non-interest income during Q3'2025) Meridian Corporation 10

NON-INTEREST EXPENSE (% of total non-interest expense during Q3'2025) (Dollars in thousands) Q3'2025 Q2'2025 $ Change Salaries & benefits 13,613 13,179 434 Occupancy & equipment 991 1,037 (46) Professional fees 1,092 1,164 (72) Data processing and IT 1,865 1,706 159 Other 3,985 4,271 (286) Total $ 21,546 $ 21,357 $ 189 63.2% 4.6% 5.1% 8.7% 18.5% Salaries & employee benefits Occupancy & equipment Professional Data processing / IT Other Meridian Corporation 11

LOANS AND OTHER FINANCE RECEIVABLES Balance ($000s) September 30, 2025 YTD Growth % Commercial Mortgage 872,497 5.9 % Commercial & Industrial 418,069 13.8 % Construction 315,095 21.4 % SBA loans 137,894 (11.5) % Leases, net 49,766 (34.5) % Residential mortgage 260,495 3.1 % Home equity 105,109 15.9 % Consumer 336 (3.7) % Total $ 2,159,261 6.6 % Commercial Mortgage, 41% Retail, 17% Commercial & Industrial, 19% SBA, 6% Construction, 15% Leases, 2% Commercial - 83% Retail - 17% (resi, home equity, consumer) Meridian Corporation 12 As of September 30, 2025

C&I LOAN PORTFOLIO OVERVIEW C&I Portfolio By Industry as of September 30, 2025 10 Largest C&I Relationships as a % of C&I Portfolio 11.1 % 10 Largest C&I Relationships as a % of Total Loan Portfolio 4.5 % Average Loan Size O/S of C&I Portfolio, excluding leases ($000s) $394 Weighted Average Risk Rating of C&I Portfolio Pass 18.3% 16.4% 12.9% 9.0% 9.1% 6.4%7.8% 5.8% 5.5% 3.7% 3.4% 1.4% 0.4% Other Manufacturing Construction Related RE Investment Professional Services Health & Social Services Wholesale Trade Retail Trade Financial, Insurance & RE Services Leisure Admin & Support Waste Mgmt & Remediation RE & Rental Lease *Includes commercial owner occupied real estate of $270 million Portfolio Characteristics Meridian Corporation 13 $863M Total C&I*

31.0% 2.3% 17.5% 1.7% 27.4% 9.8% 4.8% 5.5% Resi & Coml Constr RE & Rental Lease Com RE Inv Construction Related RE Inv Leisure Other Fin, Ins, RE Services CRE LOAN PORTFOLIO OVERVIEW - as of September 30, 2025 $917 M* Total CRE (as a % of CRE loans) *Commercial owner occupied real estate loans of $270 million not included (see C&I chart) Included in CRE: • $63 M of office buildings; & • $125 M of multi-family loans Meridian Corporation Multi-family Loans by Region: Region Amount ($000s) % of Total Philadelphia 85,715 68 % Chester County, PA 11,148 9 % Montgomery County, PA 7,582 6 % New Castle, DE 7,687 6 % Delaware County PA 8,653 7 % Southern NJ 1,914 2 % Bucks County, PA 1,366 1 % Other 894 1 % Total $ 124,959 14

CRE RATIOS - 100 & 300* 75% 75% 88% 96% 99% 73% 73% 127% 113% 114% 120% 120% 127% 150% 149% 156% 184% 177% 172% 169% 234% 256% 277% 287% 282% 288% CRE 100 Ratio CRE 300 Ratio Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Mar-25 Jun-25 Sept-25 50% 100% 150% 200% 250% 300% Increase in Construction - largely Multi-family Meridian Corporation 15 * The CRE 100 Ratio and CRE 300 Ratio consist of construction loans (100) and non-owner occupied CRE loans (300) compared to total risk-based capital at September 30, 2025.

6.79% 6.82% 7.89% 11.10% 11.50% 11.47% 10.53% 11.04% 1.01% 0.54% 1.12% 3.43% 3.96% 3.56% 3.52% 3.42% Yield on SBA Loans Cost of Funds FYE 20 FYE 21 FYE 22 FYE 23 FYE 24 Q1'25 Q2'25 Q3'25 —% 5.00% 10.00% 15.00% SBA Loan Portfolio Overview SBA Loan Portfolio Profitability ($000s) Yield vs. Cost $4,639 $11,773 $13,280 $15,976 $15,245 $3,808 $4,918 $4,275 $2,478 $1,172 $2,469 $3,463 $2,555 $1,375 $1,462 Total Net Revenue Provision for Credit Losses FYE 20 FYE 21 FYE 22 FYE 23 FYE 24 Q1'25 Q2'25 Q3'25 $5,000 $10,000 $15,000 • $137.9 million loans outstanding at September 30, 2025. • Very profitable portfolio. • Spread on SBA portfolio - 7.6% for Q3 2025. • 60% of non-performing loans as of September 30, 2025 were originated during 2020-2021 prior to 500+ bps rise in rates. Meridian Corporation 16

ASSET QUALITY - as of September 30, 2025 Comm Mortgage, $1,241 Construction & Land Dev, $10,308 C & I - Billboard (1), $5,590 C & I - Other, $2,248SBA, $21,256 Residential (2), $10,830 Leases, $2,301 Home Equity, $1,583 Non-performing Loans by Type ($000s) $11.8 million (56%) guaranteed by SBA (1) C&I Billboard is comprised of 1 loan relationship. (2) Residential non-performing includes 1 loan for $2.4 million which is well secured and earning interest on a cash basis. Meridian Corporation 17

ASSET QUALITY TRENDS 0.08% 0.05% 0.05% 0.11% 0.12% 0.20% 0.11% 0.34% 0.14% 0.17% 0.09% 1.11% 1.32% 1.38% 1.58% 1.74% 1.68% 1.97% 1.90% 2.07% 2.14% 2.32% NCOs / Avg Loans NPAs / Assets Q1'2023 Q2'2023 Q3'2023 Q4'2023 Q1'2024 Q2'2024 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% 2.50% Meridian Corporation 18

MORTGAGE VOLUME & MARGIN TRENDS ($000s) 2.71% 2.76% 2.95% 2.81% 2.82% 2.73% 2.63% 2.86% 2.93% Closed and Funded - Purchase Closed and Funded - Refi Sold Volume Margin Q3'2023 Q4'2023 Q1'2024 Q2'2024 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 0 50 100 150 200 250 300 2.00% 2.20% 2.40% 2.60% 2.80% 3.00% Q3'2023 Q4'2023 Q1'2024 Q2'2024 Q3'2024 Q4'2024 Q1'2025 Q2'2025 Q3'2025 Refinance (%) 10% 13% 16% 10% 12% 16% 18% 14% 14% Purchase (%) 90% 87% 84% 90% 88% 84% 82% 86% 86% Meridian Corporation 19

DEPOSIT COMPOSITION - as of September 30, 2025 Business Accounts, 50% Consumer Accounts, 14% Municipal Deposits, 13% Brokered Deposits, 23% Business Accounts Consumer Accounts Municipal Deposits Brokered Deposits Total Deposits $2.1 billion • At September 30, 2025, 61% of business accounts and 90% of consumer accounts were fully insured by the FDIC. • The average business money market account balance was $546 thousand at September 30, 2025. • The municipal deposits are 100% insured or collateralized and brokered deposits are 100% FDIC insured. • The level of uninsured deposits for the entire deposit base was 21% at September 30, 2025. (as a % of total deposits) Meridian Corporation 20

INVESTMENT PORTFOLIO COMPOSITION As of September 30, 2025 • Total investment securities 9.0% of total assets: – 86% Available for sale (AFS). – 14% Held-to-maturity (HTM). • Portfolio duration - 3.71 years and average life - 5.02 years. • Tax-equivalent yield - 4.08% • 12-month projected cash flow $29.2 million, or 12.76% of portfolio • Post Tax AFS URL $4.9 million or 2.10% of Tier 1 capital (1) (1) Capital ratios reflect Meridian Bank ratios. US government agency 43.9% State & municipal - tax free 23.9% Other 11.9% US asset backed 11.7% State & municipal - taxable 7.6% Equity Securities 0.9% Total Securities $229 million Meridian Corporation 21

APPENDIX - HISTORICAL FINANCIAL HIGHLIGHTS AND RECONCILIATIONS OF NON-GAAP MEASURES Meridian Corporation 22

HISTORICAL FINANCIAL DATA 1) Includes loans held for sale and held for investment. 2) Includes loans held for investment (excluding loans at fair value). 3) A Non-GAAP measure. See Appendix for Non-GAAP to GAAP reconciliation. As of or the Quarter Ended As of or the Year Ended (dollars in thousands) Q3'2025 Q2'2025 Q3'2024 2024Y 2023Y 2022Y Balance Sheet Total Assets $ 2,541,130 $ 2,510,938 $ 2,387,721 $ 2,385,867 $ 2,246,193 $ 2,062,228 Loans (1) 2,190,861 2,152,328 2,054,998 2,062,850 1,920,622 1,765,925 Deposits 2,131,116 2,110,374 1,978,927 2,005,368 1,823,462 1,712,479 Gross Loans / Deposits 102.80 % 101.99 % 103.84 % 102.87 % 105.33 % 103.12 % Capital Total Equity $ 188,029 $ 178,020 $ 167,450 $ 171,522 $ 158,022 $ 153,280 Tangible Common Equity / Tangible Assets - HC (3) 7.27 % 6.96 % 6.87 % 7.05 % 6.87 % 7.25 % Tangible Common Equity / Tangible Assets - Bank (3) 9.16 % 8.96 % 8.95 % 9.06 8.94 8.80 Tier 1 Leverage Ratio - Bank 9.41 % 9.32 % 9.32 % 9.21 9.46 9.95 Total Capital Ratio - Bank 11.54 % 11.54 % 11.22 % 11.20 11.17 11.87 Commercial Real Estate Loans / Total RBC 287.80 % 282.30 % 270.70 % 277.2 % 255.9 % 234.1 % Earnings & Profitability Net Income $ 6,659 $ 5,592 $ 4,743 $ 16,346 $ 13,243 $ 21,829 ROA 1.04 % 0.90 % 0.80 % 0.70 % 0.61 % 1.18 % ROE 14.42 % 12.68 % 11.41 % 9.93 8.53 13.87 Net Interest Margin (NIM)(TEY) 3.77 % 3.54 % 3.20 % 3.16 3.35 3.98 Non-Int Inc. / Avg. Assets 1.56 % 1.82 % 1.82 % 1.76 1.48 2.26 Efficiency Ratio 65.15 % 65.82 % 70.67 % 70.46 % 76.43 % 72.81 % Asset Quality Nonaccrual Loans / Loans (1) 2.53 % 2.35 % 2.20 % 2.19 % 1.76 % 1.20 % NPAs / Assets 2.32 % 2.14 % 1.97 % 1.90 1.58 1.11 Reserves / Loans (2) (3) 1.01 % 1.00 % 1.10 % 0.91 1.17 1.09 NCOs / Average Loans 0.09 % 0.17 % 0.11 % 0.78 % 0.30 % 0.15 % Yield and Cost Yield on Earning Assets (TEY) 7.01 % 6.89 % 7.06 % 6.94 % 6.62 % 5.02 % Cost of Deposits 3.22 % 3.31 % 3.92 % 3.82 3.24 0.97 Cost of Interest-Bearing Liabilities 3.84 % 3.96 % 4.57 % 4.46 % 3.97 % 1.36 % Meridian Corporation 23

Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding Loans at Fair Value (dollars in thousands) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Allowance for credit losses (GAAP) $ 21,794 $ 20,851 $ 20,827 $ 18,438 $ 21,965 Loans and other finance receivables (GAAP) 2,162,845 2,108,250 2,071,675 2,030,437 2,008,396 Less: Loans at fair value (14,454) (14,541) (14,182) (14,501) (13,965) Loans and other finance receivables, excluding loans at fair value (non-GAAP) $ 2,148,391 $ 2,093,709 $ 2,057,493 $ 2,015,936 $ 1,994,431 ACL to loans and other finance receivables (GAAP) 1.01 % 0.99 % 1.01 % 0.91 % 1.09 % ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP) 1.01 % 1.00 % 1.01 % 0.91 % 1.10 % RECONCILIATION OF NON-GAAP MEASURES Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Pre-Provision Net Revenue Reconciliation Three Months Ended (Dollars in thousands, except per share data) September 30, 2025 June 30, 2025 September 30, 2024 Income before income tax expense $ 8,673 $ 7,287 $ 6,245 Provision for credit losses 2,850 3,803 2,282 Pre-provision net revenue $ 11,523 $ 11,090 $ 8,527 Bank $ 10,504 $ 9,005 $ 6,222 Wealth 512 604 653 Mortgage 507 1,481 1,652 Pre-provision net revenue $ 11,523 $ 11,090 $ 8,527 Meridian Corporation 24

(dollars in thousands) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Tangible common equity ratio - Consolidated: Total stockholders' equity (GAAP) $ 188,029 $ 178,020 $ 173,568 $ 171,522 $ 167,450 Less: Goodwill and intangible assets (3,513) (3,564) (3,615) (3,666) (3,717) Tangible common equity (non-GAAP) $ 184,516 $ 174,456 $ 169,953 $ 167,856 $ 163,733 Total assets (GAAP) $ 2,541,130 $ 2,510,938 $ 2,528,888 $ 2,385,867 $ 2,387,721 Less: Goodwill and intangible assets (3,513) (3,564) (3,615) (3,666) (3,717) Tangible assets (non-GAAP) $ 2,537,617 $ 2,507,374 $ 2,525,273 $ 2,382,201 $ 2,384,004 Tangible common equity ratio (non-GAAP) 7.27 % 6.96 % 6.73 % 7.05 % 6.87 % Tangible common equity ratio - Bank: Total stockholders' equity (GAAP) $ 236,038 $ 228,127 $ 220,768 $ 219,119 $ 217,028 Less: Goodwill and intangible assets (3,513) (3,564) (3,615) (3,666) (3,717) Tangible common equity (non-GAAP) $ 232,525 $ 224,563 $ 217,153 $ 215,453 $ 213,311 Total assets (GAAP) $ 2,541,395 $ 2,510,684 $ 2,525,029 $ 2,382,014 $ 2,385,994 Less: Goodwill and intangible assets (3,513) (3,564) (3,615) (3,666) (3,717) Tangible assets (non-GAAP) $ 2,537,882 $ 2,507,120 $ 2,521,414 $ 2,378,348 $ 2,382,277 Tangible common equity ratio (non-GAAP) 9.16 % 8.96 % 8.61 % 9.06 % 8.95 % RECONCILIATION OF NON-GAAP MEASURES Meridian Corporation 25