Meridian Bank
Meridian Bank is headquartered in Paoli and is the 74th largest bank in the state of Pennsylvania. It is also the 1,339th largest bank in the nation. It was established in 2004 and as of December of 2013, it had grown to 264 employees at 3 locations. Meridian Bank's money market rates are 70% higher than the national average, and it has a B health rating.
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Data for Q4 2013
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Meridian Bank had $9.65 million in non-current loans and owned real-estate with $43.79 million in equity and loan loss allowances on hand to cover it. This gives Meridian Bank a Texas Ratio of 22.04% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Meridian Bank decreased slightly from 30.73% as of December 31, 2012 to 22.04% as of December 31, 2013, resulting in a positive change of 28.29%.This indicates that the balance sheet and financial strength for Meridian Bank has improved slightly in recent periods.
Deposit Growth
In the past year, Meridian Bank has increased its total deposits by $18.15 million, resulting in 4.92% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Meridian Bank has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Meridian Bank has $500.67 million in assets with $43.79 million in equity, resulting in a capitalization level of 8.75%, which is average.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 57777 |
| Year Established | 2004 |
| Employees | 264 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $500.67 million |
| Loans | $436.19 million |
| Deposits | $387.40 million |
| Equity Capital | $39.71 million |
| Loan Loss Allowance | $4.08 million |
| Unbacked Noncurrent Loans | $7.90 million |
| Real Estate Owned | $1.75 million |
| Historic Data - December 2012 | |
|---|---|
| Assets | $444.23 million |
| Equity Capital | $37.50 million |
| Loan Loss Allowance | $4.90 million |
| Unbacked Noncurrent Loans | $7.90 million |
| Real Estate Owned | $4.60 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.18% |
| Return on Assets | 0.83% |
| Return on Equity | 10.02% |
| Interest Income | $21.66 million |
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Meridian Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | $50k | - | High-Yield Money Market | |
| 0.60% | $50k | - | High-Yield Business Money Market |
Meridian Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | $100 | - | Free Interest Checking | |
| 0.10% | $100 | - | Business Checking |
Meridian Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.45% | $500 | - | 60 Month CD | |
| 1.25% | $500 | - | 48 Month CD | |
| 1.00% | $500 | - | 36 Month CD | |
| 0.85% | $500 | - | 30 Month CD | |
| 0.75% | $500 | - | 24 Month CD | |
| 0.65% | $500 | - | 18 Month CD | |
| 0.55% | $500 | - | 12 Month CD | |
| 0.50% | $500 | - | 6 Month CD |
| Meridian Bank Locations | ||
|---|---|---|
| West Chester Office Branch | 16 W. Market Street | West Chester, PA 19382 |
| Meridian Bank | 1776 E. Lancaster Avenue | Paoli, PA 19301 |
| Lionville Branch | 60 E. Uwchlan Ave. | Exton, PA 19341 |