Meridian posts 34% profit gain on margin expansion; credit provision rises with NPLs

Filed March 13, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 17, 2025 · ~2 min read

Key Changes

• high

  Net income rose 33.6% to $21.8M as net interest margin expanded 48 basis points to 3.64%, reversing prior-year compression. Return on equity improved to 12.00% from 9.93%.

  MD&A: Profitability verify on EDGAR →
• high

  Provision for credit losses increased $3.8M to $15.2M driven by $9.9M rise in nonperforming loans (mostly small business) and higher charge-offs in construction loans. Company upgraded its credit loss forecast model.

  MD&A: Credit Quality verify on EDGAR →
• high

  Portfolio loans grew $141M (7.0%) to $2.2B, led by construction loans up 27.4% and C&I loans up 16.8%. Deposits increased $200M (10%) to $2.2B, supporting loan growth.

  MD&A: Balance Sheet verify on EDGAR →