Meridian Bank Corporation Mortgage Rates, Fees & Info

Malvern,

LEI: 635400IW1QMK3FNFF894

Tax ID: 32-0116054

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Meridian Bank Corporation is a smaller bank specializing in Home Purchase and Refi loans. Meridian Bank Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, Salisbury, Dover, Lancaster, and Reading among others. We have data for 140 markets. (Some data included below & more in-depth data is available with an active subscription.)

Meridian Bank Corporation has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Meridian Bank Corporation is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.65%	4/21/24
30 Year Conventional Refi	6.47%	4/21/24
30 Year Cash-out Refi	6.71%	4/21/24
30 Year FHA Purchase	7.39%	4/21/24
30 Year FHA Refi	7.14%	4/21/24
30 Year VA Purchase	6.18%	4/21/24
30 Year VA Refi	5.58%	4/21/24
30 Year USDA Purchase	6.66%	4/21/24
30 Year USDA Refi	6.21%	4/21/24
15 Year Conventional Purchase	5.92%	4/21/24
15 Year Conventional Refi	6.14%	4/21/24
15 Year Cash-out Refi	6.14%	4/21/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Meridian Bank Corporation Mortgage Calculator

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This is not an official calculator from Meridian Bank Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

2,743

Origination Dollar Volume (All Markets)

$671,395,000

Employee count

247

Awards

Meridian Bank Corporation 30 Year Conventional Loans silver

Meridian Bank Corporation FHA Loans gold

Meridian Bank Corporation VA Loans bronze

Show all (4) awards

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	1,659	$427,005,000	$257,387	$5,727	4.45%
SALISBURY, MD-DE (FHA\|USDA\|VA)	286	$56,810,000	$198,636	$6,829	4.42%
DOVER, DE (FHA\|USDA\|VA)	92	$18,850,000	$204,891	$6,945	4.49%
LANCASTER, PA (FHA\|USDA\|VA)	79	$15,915,000	$201,456	$5,044	4.10%
READING, PA (FHA\|USDA\|VA)	92	$15,820,000	$171,957	$5,645	4.58%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	30	$9,910,000	$330,333	$5,720	4.05%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	53	$9,105,000	$171,792	$4,899	4.35%
HARRISBURG-CARLISLE, PA (FHA\|USDA\|VA)	48	$8,130,000	$169,375	$4,376	4.01%
OCEAN CITY, NJ (FHA\|USDA\|VA)	15	$7,265,000	$484,333	$4,849	4.26%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	24	$6,740,000	$280,833	$6,193	4.32%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	24	$4,950,000	$206,250	$4,879	4.44%
Outside of Metro Areas	27	$4,625,000	$171,296	$5,303	4.06%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	11	$4,515,000	$410,455	$6,357	3.55%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	10	$3,100,000	$310,000	$5,061	4.00%
Sayre, PA (FHA\|USDA\|VA)	23	$3,055,000	$132,826	$5,724	4.16%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	8	$2,900,000	$362,500	$4,501	3.70%
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	6	$2,470,000	$411,667	$9,101	3.38%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA\|USDA\|VA)	8	$2,420,000	$302,500	$3,091	3.45%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	6	$2,280,000	$380,000	$7,202	3.73%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	7	$2,175,000	$310,714	$4,216	3.46%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	5	$1,895,000	$379,000	$3,973	3.55%
YORK-HANOVER, PA (FHA\|USDA\|VA)	12	$1,810,000	$150,833	$4,666	4.34%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	5	$1,685,000	$337,000	$3,906	3.45%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	4	$1,480,000	$370,000	$4,488	3.47%
OGDEN-CLEARFIELD, UT (FHA\|USDA\|VA)	3	$1,305,000	$435,000	$6,399	3.58%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	5	$1,225,000	$245,000	$3,948	3.60%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	3	$1,185,000	$395,000	$2,928	3.88%
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	3	$1,175,000	$391,667	$3,262	3.25%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	3	$1,155,000	$385,000	$3,761	3.46%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	4	$1,140,000	$285,000	$4,249	3.63%
LOUISVILLE, KY (FHA\|USDA\|VA)	3	$1,075,000	$358,333	$3,658	3.63%
SALT LAKE CITY, UT (FHA\|USDA\|VA)	3	$995,000	$331,667	$4,306	3.33%
VINELAND-BRIDGETON, NJ (FHA\|USDA\|VA)	4	$990,000	$247,500	$6,128	4.00%
Outside of Metro Areas	3	$985,000	$328,333	$5,310	3.46%
BLOOMSBURG-BERWICK, PA (FHA\|USDA\|VA)	8	$980,000	$122,500	$4,336	3.88%
Pottsville, PA (FHA\|USDA\|VA)	5	$975,000	$195,000	$5,636	4.78%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	2	$940,000	$470,000	$3,564	3.50%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	3	$935,000	$311,667	$5,539	3.25%
JACKSONVILLE, FL (FHA\|USDA\|VA)	3	$925,000	$308,333	$5,044	3.21%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	3	$905,000	$301,667	$3,752	3.83%
Key West, FL (FHA\|USDA\|VA)	2	$880,000	$440,000	$11,149	4.31%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	2	$880,000	$440,000	$5,176	3.94%
FRESNO, CA (FHA\|USDA\|VA)	3	$875,000	$291,667	$4,075	3.42%
ELMIRA, NY (FHA\|USDA\|VA)	4	$820,000	$205,000	$6,081	4.50%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA\|USDA\|VA)	2	$790,000	$395,000	$2,738	3.50%
COLUMBUS, OH (FHA\|USDA\|VA)	2	$730,000	$365,000	$5,541	3.31%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	3	$685,000	$228,333	$4,975	3.92%
Elko, NV (FHA\|USDA\|VA)	2	$680,000	$340,000	$3,650	3.25%
SCRANTON--WILKES-BARRE, PA (FHA\|USDA\|VA)	4	$670,000	$167,500	$5,837	4.09%
PITTSBURGH, PA (FHA\|USDA\|VA)	3	$665,000	$221,667	$6,740	4.17%
ANN ARBOR, MI (FHA\|USDA\|VA)	1	$655,000	$655,000	$7,702	4.13%
RENO, NV (FHA\|USDA\|VA)	2	$650,000	$325,000	$3,559	3.19%
GREENSBORO-HIGH POINT, NC (FHA\|USDA\|VA)	2	$630,000	$315,000	$2,795	3.25%
Bozeman, MT (FHA\|USDA\|VA)	1	$625,000	$625,000	$8,702	3.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA\|USDA\|VA)	2	$620,000	$310,000	$6,022	3.25%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	2	$610,000	$305,000	$4,640	3.88%
CHAMBERSBURG-WAYNESBORO, PA (FHA\|USDA\|VA)	3	$595,000	$198,333	$5,567	4.42%
FAYETTEVILLE, NC (FHA\|USDA\|VA)	2	$590,000	$295,000	$7,122	3.94%
WORCESTER, MA-CT (FHA\|USDA\|VA)	2	$580,000	$290,000	$4,119	3.75%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	2	$570,000	$285,000	$3,724	3.81%
VALLEJO, CA (FHA\|USDA\|VA)	1	$565,000	$565,000	$5,116	3.75%
BINGHAMTON, NY (FHA\|USDA\|VA)	4	$560,000	$140,000	$5,941	4.34%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA\|USDA\|VA)	2	$550,000	$275,000	$7,722	3.96%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	2	$550,000	$275,000	$7,313	3.38%
Oak Harbor, WA (FHA\|USDA\|VA)	1	$545,000	$545,000	$12,976	3.25%
STOCKTON, CA (FHA\|USDA\|VA)	2	$540,000	$270,000	$3,864	3.38%
NAPA, CA (FHA\|USDA\|VA)	2	$540,000	$270,000	$7,152	4.19%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	2	$530,000	$265,000	$3,443	3.31%
Heber, UT (FHA\|USDA\|VA)	1	$525,000	$525,000	$10,158	4.63%
Clearlake, CA (FHA\|USDA\|VA)	1	$495,000	$495,000	$20,168	4.25%
Garden City, KS (FHA\|USDA\|VA)	2	$490,000	$245,000	$2,824	3.88%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	2	$480,000	$240,000	$3,363	4.06%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA\|USDA\|VA)	1	$475,000	$475,000	$2,531	3.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	1	$475,000	$475,000	$4,896	3.13%
Kill Devil Hills, NC (FHA\|USDA\|VA)	1	$465,000	$465,000	$8,291	5.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	2	$460,000	$230,000	$4,605	3.63%
Sunbury, PA (FHA\|USDA\|VA)	2	$460,000	$230,000	$5,023	3.75%
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	1	$445,000	$445,000	$9,420	2.88%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	2	$430,000	$215,000	$2,605	3.88%
Indiana, PA (FHA\|USDA\|VA)	5	$425,000	$85,000	$4,340	4.25%
AKRON, OH (FHA\|USDA\|VA)	1	$425,000	$425,000	$7,016	3.25%
JEFFERSON CITY, MO (FHA\|USDA\|VA)	1	$415,000	$415,000	$4,283	3.25%
SAVANNAH, GA (FHA\|USDA\|VA)	2	$410,000	$205,000	$4,016	3.88%
COLUMBIA, SC (FHA\|USDA\|VA)	3	$405,000	$135,000	$4,589	4.71%
MANCHESTER-NASHUA, NH (FHA\|USDA\|VA)	1	$395,000	$395,000	$5,115	3.25%
SHREVEPORT-BOSSIER CITY, LA (FHA\|USDA\|VA)	1	$375,000	$375,000	$5,362	3.25%
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	1	$355,000	$355,000	$4,539	3.13%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	1	$355,000	$355,000	$3,794	4.38%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	1	$355,000	$355,000	$3,958	4.00%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	1	$345,000	$345,000	$6,592	3.25%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA\|USDA\|VA)	1	$345,000	$345,000	$4,493	3.63%
LEBANON, PA (FHA\|USDA\|VA)	2	$330,000	$165,000	$6,919	4.94%
Cambridge, MD (FHA\|USDA\|VA)	2	$330,000	$165,000	$7,812	4.19%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	1	$325,000	$325,000	$2,736	3.38%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	1	$325,000	$325,000	$4,422	3.63%
BAKERSFIELD, CA (FHA\|USDA\|VA)	2	$320,000	$160,000	$3,403	3.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA\|USDA\|VA)	1	$315,000	$315,000	$1,372	3.63%
WINSTON-SALEM, NC (FHA\|USDA\|VA)	1	$315,000	$315,000	$4,471	3.25%
SPARTANBURG, SC (FHA\|USDA\|VA)	1	$315,000	$315,000	$3,493	3.38%
Gardnerville Ranchos, NV (FHA\|USDA\|VA)	1	$305,000	$305,000	$4,691	3.63%
EAST STROUDSBURG, PA (FHA\|USDA\|VA)	1	$305,000	$305,000	$4,450	3.99%
DURHAM-CHAPEL HILL, NC (FHA\|USDA\|VA)	1	$305,000	$305,000	$2,793	3.63%
GREELEY, CO (FHA\|USDA\|VA)	1	$305,000	$305,000	$4,128	3.25%
WILLIAMSPORT, PA (FHA\|USDA\|VA)	3	$295,000	$98,333	$4,654	4.08%
EUGENE-SPRINGFIELD, OR (FHA\|USDA\|VA)	1	$295,000	$295,000	$3,329	3.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	1	$295,000	$295,000	$2,450	3.13%
GRAND RAPIDS-KENTWOOD, MI (FHA\|USDA\|VA)	1	$295,000	$295,000	$2,776	4.75%
Laconia, NH (FHA\|USDA\|VA)	1	$295,000	$295,000	$12,454	3.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	1	$285,000	$285,000	$2,739	3.25%
LAKELAND-WINTER HAVEN, FL (FHA\|USDA\|VA)	1	$285,000	$285,000	$4,491	3.50%
MILWAUKEE-WAUKESHA, WI (FHA\|USDA\|VA)	1	$285,000	$285,000	$5,477	3.25%
MONROE, MI (FHA\|USDA\|VA)	1	$285,000	$285,000	$2,689	3.25%
Williston, ND (FHA\|USDA\|VA)	1	$285,000	$285,000	$3,861	3.50%
BOISE CITY, ID (FHA\|USDA\|VA)	1	$285,000	$285,000	$5,407	3.00%
SALEM, OR (FHA\|USDA\|VA)	1	$275,000	$275,000	$4,596	3.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	1	$265,000	$265,000	$3,762	3.50%
FLORENCE, SC (FHA\|USDA\|VA)	1	$265,000	$265,000	$4,887	3.00%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA\|USDA\|VA)	1	$265,000	$265,000	$5,469	3.25%
SPRINGFIELD, MA (FHA\|USDA\|VA)	1	$255,000	$255,000	$4,416	3.13%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$255,000	$255,000	$4,194	3.50%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	1	$235,000	$235,000	$3,437	3.38%
THE VILLAGES, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$4,061	4.25%
Gillette, WY (FHA\|USDA\|VA)	1	$225,000	$225,000	$3,559	3.13%
CEDAR RAPIDS, IA (FHA\|USDA\|VA)	1	$225,000	$225,000	$2,700	3.38%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$3,584	3.75%
HUNTSVILLE, AL (FHA\|USDA\|VA)	1	$215,000	$215,000	$2,521	3.38%
RICHMOND, VA (FHA\|USDA\|VA)	1	$185,000	$185,000	$6,947	4.00%
LYNCHBURG, VA (FHA\|USDA\|VA)	1	$165,000	$165,000	$5,468	3.50%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,271	4.88%
ROCKY MOUNT, NC (FHA\|USDA\|VA)	1	$155,000	$155,000	$4,629	4.75%
CLEVELAND-ELYRIA, OH (FHA\|USDA\|VA)	1	$145,000	$145,000	$3,272	3.88%
GETTYSBURG, PA (FHA\|USDA\|VA)	1	$135,000	$135,000	$4,774	4.50%
Somerset, PA (FHA\|USDA\|VA)	1	$125,000	$125,000	$5,446	4.25%
Rutland, VT (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,881	4.75%
SUMTER, SC (FHA\|USDA\|VA)	1	$105,000	$105,000	$7,099	5.25%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	1	$95,000	$95,000	$3,346	5.25%
Lock Haven, PA (FHA\|USDA\|VA)	1	$85,000	$85,000	$3,671	4.00%
JOHNSTOWN, PA (FHA\|USDA\|VA)	1	$85,000	$85,000	$4,826	3.75%
Corning, NY (FHA\|USDA\|VA)	1	$75,000	$75,000	$4,279	3.75%
St. Marys, PA (FHA\|USDA\|VA)	1	$65,000	$65,000	$3,600	4.25%

Meridian Bank Corporation's top markets include Philadelphia, Salisbury, Dover, Lancaster, and Reading among others.

Their top states include:

Pennsylvania (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

New Jersey (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Maryland (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	1,404	$380,490,000	$271,004	$4,422	4.46%
FHA	841	$162,035,000	$192,669	$7,481	4.42%
VA	317	$95,895,000	$302,508	$5,764	3.68%
USDA	181	$32,975,000	$182,182	$6,792	4.32%

For 2019, Meridian Bank Corporation's most frequently originated type of loan was Conventional, with 1,404 originations. Their 2nd most popular type was FHA, with 841 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	2,078	$473,580,000	$227,902	$6,031	4.46%
Refi	464	$148,950,000	$321,013	$4,755	3.80%
Cash Out Refi	154	$39,680,000	$257,662	$5,398	4.32%
Home Improvement	27	$5,195,000	$192,407	$2,273	5.20%
Other	20	$3,990,000	$199,500	$2,874	4.78%

For 2019, Meridian Bank Corporation's most frequently cited loan purpose was Home Purchase, with 2,078 originations. The 2nd most popular reason was Refi, with 464 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	2,405	$551,585,000	$229,349	$5,978	4.29%
20 Year	94	$15,380,000	$163,617	$2,158	4.84%
10 Year	82	$50,290,000	$613,293	$800	5.18%
15 Year	82	$16,790,000	$204,756	$3,644	3.91%
Other	37	$11,705,000	$316,351	$4,267	4.35%
1 Year	28	$10,620,000	$379,286	$0	6.32%
5 Year	15	$15,025,000	$1,001,667	$0	5.42%

For 2019, Meridian Bank Corporation's most frequently cited loan duration was 30 Year, with 2,405 originations. The 2nd most popular length was 20 Year, with 94 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	1,533	$346,585,000	$226,083
$1k-2k	419	$74,275,000	$177,267
$2k-3k	291	$64,495,000	$221,632
$3k-4k	185	$42,745,000	$231,054
$5k+	116	$44,870,000	$386,810
$4k-5k	72	$17,870,000	$248,194

Meridian Bank Corporation's average total fees were $5,978, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,533 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	1,245	$278,705,000	$223,859
3-4%	1,050	$277,840,000	$264,610
5-6%	382	$88,230,000	$230,969
6-7%	39	$18,815,000	$482,436
2.5-3%	27	$7,805,000	$289,074

During 2019, Meridian Bank Corporation's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 4-5%, with 1,245 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	1,183	$323,095,000	$273,115	$6,504	4.21%
$100k-200k	1,052	$161,220,000	$153,251	$5,214	4.43%
$100,000 or less	250	$18,300,000	$73,200	$3,027	4.77%
$400k-600k	193	$89,695,000	$464,741	$6,845	4.10%
$600k-1MM	40	$29,270,000	$731,750	$9,128	4.44%
$1MM+	25	$49,815,000	$1,992,600	$12,567	5.22%

2019 saw Meridian Bank Corporation place emphasis on $200k-400k loans with 1,183 originations, totaling $323,095,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	720	$138,850,000	$192,847	$5,991	4.40%
$50k or less	666	$103,220,000	$154,985	$5,559	4.35%
$75k-100k	391	$94,045,000	$240,524	$6,273	4.35%
$100k-150k	332	$85,490,000	$257,500	$6,271	4.26%
$150k-250k	216	$68,010,000	$314,861	$5,135	4.37%
$250k+	120	$45,150,000	$376,250	$5,065	4.49%

Meridian Bank Corporation lent most frequently to those with incomes in the $50k-75k range, with 720 originations. The second most popular income band? $50k or less, with 666 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	416	$89,910,000	$216,130	$5,417	4.38%
20-30%	370	$85,610,000	$231,378	$5,098	4.22%
50-60%	211	$44,095,000	$208,981	$7,838	4.44%
<20%	183	$52,435,000	$286,530	$4,882	3.67%
42%	125	$24,825,000	$198,600	$4,771	4.53%
39%	113	$22,395,000	$198,186	$5,961	4.33%
41%	109	$26,095,000	$239,404	$6,182	4.41%
44%	107	$23,305,000	$217,804	$5,893	4.52%
43%	100	$21,410,000	$214,100	$6,069	4.38%
36%	96	$19,320,000	$201,250	$5,409	4.46%
45%	94	$19,970,000	$212,447	$6,578	4.37%
38%	92	$17,700,000	$192,391	$5,616	4.44%
37%	86	$18,310,000	$212,907	$5,786	4.35%
40%	84	$18,130,000	$215,833	$5,498	4.50%
47%	79	$15,845,000	$200,570	$6,015	4.33%
48%	74	$17,300,000	$233,784	$6,822	4.49%
49%	74	$15,690,000	$212,027	$6,471	4.38%
46%	58	$12,440,000	$214,483	$6,455	4.31%
>60%	20	$4,790,000	$239,500	$7,181	4.32%

Meridian Bank Corporation lent most frequently to those with DTI ratios of 30-36%, with 416 originations. The next most common DTI ratio? 20-30%, with 370 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	1,955	$453,975,000	$232,212	$5,622	4.27%
Black	553	$111,595,000	$201,799	$6,150	4.43%
Not applicable	107	$70,475,000	$658,645	$0	5.60%
Asian	68	$17,640,000	$259,412	$5,188	4.31%
Not provided	51	$15,725,000	$308,333	$6,171	4.03%
American Indian	4	$1,010,000	$252,500	$6,247	4.16%
Native Hawaiian or Islander	5	$975,000	$195,000	$5,337	4.63%

Approval Rates

Total approvals of all applications
96.70%

Meridian Bank Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
83.89%

Meridian Bank Corporation has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	2,743	$671,395,000	$244,767

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	28	$44,030,000	$1,572,500
Single Family (1-4 Units):Manufactured	31	$5,105,000	$164,677
Single Family (1-4 Units):Site-Built	2,684	$622,260,000	$231,841

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	49	$8,315,000	$169,694	$2,291	4.65%
40-60%	98	$23,250,000	$237,245	$3,729	4.36%
60-80%	483	$163,665,000	$338,851	$4,758	4.54%
80-100%	1,918	$428,750,000	$223,540	$6,203	4.30%
Over 100%	129	$41,905,000	$324,845	$6,781	3.70%
Under 20%	66	$5,510,000	$83,485	$351	5.46%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Meridian Bank	100 East State Street Media, PA 19063	Full Service B&M	$34,728
Meridian Bank	16 W. Market Street West Chester, PA 19382	Full Service B&M	$189,866
Meridian Bank	1719a South Easton Road Doylestown, PA 18901	Full Service B&M	$86,125
Meridian Bank	1760 Market Street Philadelphia, PA 19103	Full Service B&M	$19,129
Meridian Bank	1776 E. Lancaster Avenue Paoli, PA 19301	Full Service B&M	$448,848
Meridian Bank	653 Skippack Pike, Suite 116 Blue Bell, PA 19422	Full Service B&M	$62,019

For 2019, Meridian Bank Corporation had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$52,863
Net interest income	$36,417
Total noninterest income	$32,933
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$110
Trading account gains and fees	$0
Additional Noninterest Income	$32,823
Pre-tax net operating income	$13,430
Securities gains (or losses, -)	$165
Income before extraordinary items	$10,562
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$10,562
Minority interest net income	$0
Net income	$10,562
Sale, conversion, retirement of capital stock, net	$336
Net operating income	$10,431

Meridian Bank Corporation's gross interest income from loans was $52,863,000.
Meridian Bank Corporation's net interest income from loans was $36,417,000.
Meridian Bank Corporation's fee based income from loans was $110,000.
Meridian Bank Corporation's net income from loans was $10,562,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$16,446
Provision for credit losses	$901
Total noninterest expense	$55,019
Salaries and employee benefits	$35,157
Premises and equipment expense	$3,806
Additional noninterest expense	$16,056
Applicable income taxes	$3,033
Net charge-offs	$-559
Cash dividends	$0

Meridian Bank Corporation's interest expense for loans was $16,446,000.
Meridian Bank Corporation's payroll and benefits expense were $35,157,000.
Meridian Bank Corporation's property, plant and equipment expenses $3,806,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	1.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$851,316
Deposits held in domestic offices	$851,316
Deposits by Individuals, partnerships, and corporations	$751,167
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$99,908
Deposits by Commercial banks and other depository institutions in U.S.	$241
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$93,826
Demand deposits	$86,338
Nontransaction accounts	$757,490
Money market deposit accounts (MMDAs)	$442,535
Other savings deposits (excluding MMDAs)	$3,231
Total time deposits	$311,724
Total time and savings deposits	$764,978
Noninterest-bearing deposits	$139,598
Interest-bearing deposits	$711,718
Retail deposits	$581,496
IRAs and Keogh plan accounts	$6,215
Brokered deposits	$220,919
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,149,979
Cash & Balances due from depository institutions	$19,106
Interest-bearing balances	$13,577
Total securities	$68,645
Federal funds sold & reverse repurchase	$20,265
Net loans and leases	$988,901
Loan and leases loss allowance	$9,513
Trading account assets	$0
Bank premises and fixed assets	$8,636
Other real estate owned	$120
Goodwill and other intangibles	$5,219
All other assets	$39,087

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,149,979
Total Liabilities	$990,336
Total deposits	$851,316
Interest-bearing deposits	$711,718
Deposits held in domestic offices	$851,316
% insured (estimated)	$56
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$126,799
Subordinated debt	$1,904
All other liabilities	$10,317

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$988,901
Loan and leases loss allowance	$9,513
Total loans and leases (domestic)	$998,414
All real estate loans	$739,227
Real estate loans in domestic offices	$739,227
Construction and development loans	$164,968
Residential 1-4 family construction	$84,907
Other construction, all land development and other land	$80,061
Loans secured by nonfarm nonresidential properties	$255,653
Nonfarm nonresidential secured by owner-occupied properties	$155,069
Commercial real estate & other non-farm, non-residential	$100,584
Multifamily residential real estate	$29,058
1-4 family residential loans	$289,548
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$252,904
To non-U.S. addressees	$0
Loans to individuals	$1,002
Credit card loans	$0
Related Plans	$576
Consumer Auto Loans	$9
Other loans to individuals	$417
All other loans & leases	$7,070
Loans to foreign governments and official institutions	$0
Other loans	$6,373
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$3,599
Non 1-4 family restructured loans & leases	$2,839
Total loans and leases (foreign)	$0

Meridian Bank Corporation had $988,901,000 of loans outstanding in 2019. $739,227,000 of loans were in real estate loans. $164,968,000 of loans were in development loans. $29,058,000 of loans were in multifamily mortgage loans. $289,548,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $9,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	273	$92,986	$340,608
Nonfarm, nonresidential loans - <$100k	36	$1,233	$34,250
Nonfarm, nonresidential loans - $100-250k	56	$7,838	$139,964
Nonfarm, nonresidential loans - $250k-1MM	181	$83,915	$463,619
Commercial & Industrial, US addressed loans - <$1MM	595	$103,424	$173,822
Commercial & Industrial, US addressed loans - <$100k	213	$6,032	$28,319
Commercial & Industrial, US addressed loans - $100-250k	151	$13,890	$91,987
Commercial & Industrial, US addressed loans - $250k-1MM	231	$83,502	$361,481