Meridian reports Q1 2026 net income down 72% to $2M, citing higher credit losses and lower non-interest income.

Meridian Corporation revised its Q1 2026 results, reporting net income of $2.0 million, a 72% drop from the prior quarter, mainly due to increased credit loss provisions and a 34% decline in non-interest income. Despite a 21% rise in pre-provision net revenue and improved net interest margin to 3.82%, net interest income fell slightly. Loan growth was modest, with commercial loans up 1%, while non-performing loans and net charge-offs increased, reflecting asset quality challenges. The company declared a quarterly dividend of $0.14 per share, signaling confidence despite earnings pressure.