Meridian Corporation Announces Completion of $40 Million Subordinated Notes Offering
Meridian Corporation (MRBK)
Last meridian corporation earnings: 1/27 09:00 am
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Source: GlobeNewswire
MALVERN, Pa., Dec. 18, 2019 (GLOBE NEWSWIRE) -- Meridian Corporation (Nasdaq: MRBK) (“Meridian”), holding company for Meridian Bank (the “Bank”), today announced the completion of its offering of $40 million in fixed-to-floating rate subordinated notes due 2029 (the “Notes”) to certain qualified institutional buyers and institutional accredited investors in a private placement transaction. The Notes will initially bear interest at a fixed annual rate of 5.375%, for five years and will reset quarterly thereafter to the then current three-month SOFR plus 395 basis points. Meridian may redeem the Notes on or after December 30, 2024, or at any time upon certain other specified events. The Notes have been structured to qualify initially as Tier 2 capital for Meridian for regulatory capital purposes. Meridian intends to use the net proceeds of the offering for general corporate purposes, including organic growth and the repayment of a portion of the Bank’s existing indebtedness. “This s
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News
- Meridian Corporation's (NASDAQ:MRBK) largest shareholders are individual investors with 30% ownership, hedge funds own 25% [Yahoo! Finance]Yahoo! Finance
- Should Value Investors Buy Meridian Bank (MRBK) Stock? [Yahoo! Finance]Yahoo! Finance
- Are Investors Undervaluing Meridian Bank (MRBK) Right Now? [Yahoo! Finance]Yahoo! Finance
- Meridian Co. (NASDAQ: MRBK) had its price target raised by analysts at DA Davidson from $15.00 to $17.00. They now have a "buy" rating on the stock.MarketBeat
- Meridian Co. (NASDAQ: MRBK) had its price target raised by analysts at Piper Sandler from $14.00 to $15.00. They now have a "neutral" rating on the stock.MarketBeat
MRBK
Earnings
- 10/24/24 - Beat
MRBK
Sec Filings
- 11/25/24 - Form 4
- 11/25/24 - Form 4
- 11/25/24 - Form 4
- MRBK's page on the SEC website