Malvern, Pa. (June 16, 2022) – Meridian Corporation announced that it has been named a top-performing publicly traded community bank by American Banker, a leading industry organization. Their list of the top 200 publicly traded community banks under $2 billion in assets ranked Meridian 13th in the United States, and first among banks headquartered in Pennsylvania, Delaware, New Jersey, and Maryland.
“[This list] is led by companies with strong profitability metrics, minimal credit losses and ample levels of low-cost deposits,” according to American Banker. The rankings were determined by three-year return on average equity (ROAE) between 2019 and 2021.
“Being recognized as one of the country’s highest performing community banks is a testament to the Meridian team’s commitment to providing best-in-class customer service to the businesses, retail customers and municipalities in our market,” said Meridian Chairman & CEO Chris Annas.
Comparative statistics for all 438 U.S. banks and thrifts in this peer group for the three years charted were as follows:
- The median ROAE was 10.64%. Meridian’s ROAE was 18.06%, with a 23.74% ROAE in 2021.
- The median return on average assets (ROAA) was 0.98%. Meridian’s ROAA was 2.06%.
- The median net interest margin (NIM) was 3.24%. Meridian’s NIM was 3.77%.
The full article was published in May 2022 and can be found on the American Banker website.
About Meridian Corporation
Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware, Maryland and Florida. Through more than 20 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.