Meridian Corporation reported Q1 2025 net income of $2.4 million, or $0.21 per diluted share, compared to $2.7 million a year ago. Pre-provision net revenue rose 30% to $8.4 million. Net interest margin improved to 3.46%. Total assets grew to $2.53 billion and loans increased to $2.07 billion. Deposits rose by $123 million, led by a 34% jump in non-interest-bearing deposits.

Credit quality weakened, with non-performing loans rising to 2.49% of total loans. Allowance for credit losses increased to 1.01%. Net charge-offs improved to 0.14% of average loans.

Banking and wealth management performed well, but the mortgage segment showed a larger loss due to lower volumes. A $0.125 per share dividend was declared, payable May 19, 2025.