Meridian Corporation (MRBK) Balance Sheet
MRBK balance sheet, 2025
December 31, 2025 · U.S. dollars$2.56B assets = $2.36B liabilities + $199.7M equity
Both columns are drawn to the same scale: what MRBK owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MRBK financial health
Descriptive bands, not a rating. Fiscal 2025.
MRBK balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $733.7M2016 | $2.56B2025 | +14.9%/yr | |
| Total liabilities | $663.7M2016 | $2.36B2025 | +15.1%/yr | |
| Shareholders’ equity | $70.0M2016 | $199.7M2025 | +12.4%/yr | |
| Cash & short-term investments | $51.7M2016 | $132.9M2025 | +11.1%/yr | |
| Total debt | $131.7M2016 | $167.2M2025 | +2.7%/yr | |
| Net cash (debt) | −$80.1M2016 | −$34.3M2025 | +$45.7M | |
| Working capital | −$590.6M2016 | −$2.14B2025 | −$1.5B | |
| Book value per share | $14.872016 | $17.312025 | +1.7%/yr | |
| Debt / equity | 1.882016 | 0.842025 | −1.05 | |
| Shares outstanding | 4.7M2016 | 11.5M2025 | +10.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MRBK assets
MRBK liabilities and equity
MRBK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MRBK balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $132.9M | $105.7M | $202.7M | $173.7M | $182.8M | $157.8M | $78.0M | $75.6M | $64.9M | $51.7M |
| Cash & equivalents | $35.8M | $27.5M | $56.7M | $38.4M | $23.5M | $34.2M | $19.1M | $23.2M | $24.9M | $18.5M |
| Short-term investments | $97.1M | $78.2M | $146.0M | $135.3M | $159.3M | $123.6M | $58.9M | $52.4M | $40.0M | $33.2M |
| Receivables | $10.7M | $83.5M | $127.3M | $144.8M | $93.3M | $36.5M | $3.8M | $4.2M | $3.3M | $3.6M |
| Inventory | $0 | $0 | $742,000 | −$47.5M | −$28.5M | −$42.2M | −$42.6M | $0 | $437,000 | −$21.0M |
| Other current assets | $0 | $0 | $0 | $47.5M | $28.5M | $42.2M | $42.6M | $0 | $0 | $20.8M |
| Total current assets | $143.6M | $189.1M | $330.0M | $318.5M | $276.0M | $194.3M | $81.8M | $79.8M | $68.2M | $55.1M |
| Property, plant & equipment (net) | $12.4M | $12.2M | $13.6M | $13.3M | $11.8M | $7.8M | $8.6M | $9.6M | $9.7M | $8.7M |
| Goodwill & intangible assets | $3.5M | $3.7M | $3.9M | $4.1M | $4.3M | $4.5M | $4.8M | $5.0M | $5.5M | $0 |
| Long-term investments | $228.2M | $210.2M | $183.9M | $174.9M | $168.0M | $131.1M | $68.6M | $63.2M | $52.9M | $47.6M |
| Other non-current assets | $2.17B | $1.97B | $1.71B | $1.55B | $1.25B | $1.38B | $986.2M | $839.8M | $719.7M | $622.3M |
| Total assets | $2.56B | $2.39B | $2.25B | $2.06B | $1.71B | $1.72B | $1.15B | $997.5M | $856.0M | $733.7M |
| Liabilities | ||||||||||
| Accounts payable | $6.5M | $6.9M | $10.3M | $2.4M | $31,000 | $1.2M | $1.1M | $305,000 | $216,000 | $194,000 |
| Short-term debt | $117.3M | $124.5M | $141.9M | $122.1M | $41.3M | $216.0M | $126.8M | $119.3M | $106.5M | $118.4M |
| Deferred revenue | — | — | −$10.3M | $3.9M | −$41.3M | — | — | −$470.6M | −$408.6M | −$340.7M |
| Total current liabilities | $2.28B | $2.14B | $1.98B | $1.84B | $1.49B | $1.46B | $979.1M | $871.7M | $733.9M | $645.7M |
| Long-term debt | $49.9M | $49.7M | $49.8M | $40.3M | $81.9M | $313.1M | $41.0M | $9.2M | $13.3M | $13.4M |
| Other long-term liabilities | $30.4M | $27.9M | $62.7M | $31.7M | $0 | $0 | $9.3M | $7.0M | $7.5M | $4.7M |
| Total liabilities | $2.36B | $2.21B | $2.09B | $1.91B | $1.55B | $1.58B | $1.03B | $887.9M | $754.7M | $663.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $13.8M | $13.2M | $13.2M | $13.2M | $6.5M | $6.5M | $6.4M | $6.4M | $6.4M | $3.7M |
| Retained earnings (deficit) | $128.1M | $112.0M | $101.2M | $95.8M | $84.9M | $59.0M | $34.1M | $23.6M | $15.8M | $13.9M |
| Treasury stock | — | — | — | — | — | — | −$3,000 | — | — | — |
| Accumulated other comprehensive income | −$5.3M | −$8.1M | −$9.4M | −$11.5M | $708,000 | $2.6M | −$3,000 | −$390,000 | −$298,000 | −$308,000 |
| Total shareholders' equity | $199.7M | $171.5M | $158.0M | $153.3M | $165.4M | $141.6M | $120.7M | $109.6M | $101.4M | $70.0M |
| Key figures | ||||||||||
| Total debt | $167.2M | $174.2M | $191.7M | $162.4M | $81.9M | $256.7M | $167.8M | $129.8M | $121.9M | $131.7M |
| Net cash (debt) | −$34.3M | −$68.5M | $11.0M | $11.3M | $100.9M | −$98.9M | −$89.8M | −$54.2M | −$57.0M | −$80.1M |
| Working capital | −$2.14B | −$1.95B | −$1.65B | −$1.52B | −$1.21B | −$1.26B | −$897.2M | −$791.9M | −$665.7M | −$590.6M |
| Tangible book value | $196.3M | $167.9M | $154.2M | $149.2M | $161.1M | $137.1M | $115.9M | $104.5M | $95.9M | $70.0M |
| Book value per share | $17.31 | $15.26 | $13.88 | $12.56 | $13.32 | $11.45 | $9.37 | $8.52 | $13.44 | $14.87 |
| Shares outstanding | 11.5M | 11.2M | 11.4M | 12.2M | 12.4M | 12.4M | 12.9M | 12.9M | 7.5M | 4.7M |
| Current ratio | 0.06 | 0.09 | 0.17 | 0.17 | 0.19 | 0.13 | 0.08 | 0.09 | 0.09 | 0.09 |
| Quick ratio | 0.06 | 0.09 | 0.17 | 0.17 | 0.19 | 0.13 | 0.08 | 0.09 | 0.09 | 0.09 |
| Debt / equity | 0.84 | 1.02 | 1.21 | 1.06 | 0.49 | 1.81 | 1.39 | 1.18 | 1.20 | 1.88 |
| Equity / assets | 7.8% | 7.2% | 7.0% | 7.4% | 9.7% | 8.2% | 10.5% | 11.0% | 11.8% | 9.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $11.2M | $28.3M | $132.9M | $133.8M | $136.7M | $216.6M | $105.7M | $203.9M | $183.2M | $174.0M | $202.7M | $182.0M |
| Cash & equivalents | $11.2M | $28.3M | $35.8M | $40.0M | $50.2M | $130.6M | $27.5M | $32.3M | $24.1M | $23.0M | $56.7M | $59.8M |
| Short-term investments | $107.0M | $98.7M | $97.1M | $93.8M | $86.5M | $86.0M | $78.2M | $171.6M | $159.1M | $151.0M | $146.0M | $122.2M |
| Receivables | $10.7M | $2.17B | $10.7M | $10.9M | $66.1M | $74.9M | $83.5M | $94.1M | $104.6M | $115.4M | $127.3M | $143.9M |
| Inventory | $0 | $39.0M | $0 | $0 | $0 | $0 | $0 | −$194.1M | −$34.0M | −$169.8M | −$117.2M | −$70.4M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $194.1M | $34.0M | $169.8M | $117.2M | $70.4M |
| Total current assets | $21.9M | $2.24B | $143.6M | $144.8M | $202.8M | $291.5M | $189.1M | $298.0M | $287.8M | $289.4M | $330.0M | $325.9M |
| Property, plant & equipment (net) | $12.4M | $12.3M | $12.4M | $12.4M | $12.3M | $12.0M | $12.2M | $12.8M | $13.1M | $13.5M | $13.6M | $13.3M |
| Goodwill & intangible assets | $3.4M | $3.4M | $3.5M | $3.5M | $3.6M | $3.6M | $3.7M | $3.7M | $3.8M | $3.8M | $3.9M | $3.9M |
| Long-term investments | $235.1M | $230.6M | $228.2M | $229.0M | $222.7M | $220.1M | $210.2M | $207.6M | $196.3M | $188.2M | $183.9M | $160.5M |
| Other non-current assets | $2.32B | $90.9M | $2.17B | $2.15B | $2.07B | $2.00B | $1.97B | $1.87B | $1.85B | $1.80B | $1.71B | $1.73B |
| Total assets | $2.59B | $2.58B | $2.56B | $2.54B | $2.51B | $2.53B | $2.39B | $2.39B | $2.35B | $2.29B | $2.25B | $2.23B |
| Liabilities | ||||||||||||
| Accounts payable | $5.6M | $6.6M | $6.5M | $7.1M | $7.1M | $7.4M | $6.9M | $7.0M | $7.7M | $8.3M | $10.3M | $7.8M |
| Short-term debt | $108.0M | — | $117.3M | $126.7M | — | — | $124.5M | $100.6M | $143.0M | $112.1M | $141.9M | $150.3M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$7.7M | −$8.3M | −$10.3M | −$142.5M |
| Total current liabilities | $108.0M | $2.21B | $2.28B | $2.26B | $2.12B | $2.14B | $2.14B | $1.99B | $1.92B | $1.91B | $1.98B | $1.82B |
| Long-term debt | $49.7M | $49.7M | $49.9M | $60.4M | $188.8M | $189.4M | $49.7M | $194.8M | $237.2M | $195.7M | $49.8M | $228.0M |
| Other long-term liabilities | $2.23B | $120.8M | $30.4M | $27.8M | $26.7M | $29.8M | $27.9M | $39.5M | $28.9M | $28.3M | $62.7M | $31.4M |
| Total liabilities | $2.39B | $2.38B | $2.36B | $2.35B | $2.33B | $2.36B | $2.21B | $2.22B | $2.19B | $2.13B | $2.09B | $2.08B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $13.9M | $13.9M | $13.8M | $13.5M | $13.3M | $13.3M | $13.2M | $13.2M | $13.2M | $13.2M | $13.2M | $13.2M |
| Retained earnings (deficit) | $132.6M | $131.2M | $128.1M | $122.4M | $117.1M | $113.0M | $112.0M | $107.8M | $104.4M | $102.5M | $101.2M | $102.0M |
| Accumulated other comprehensive income | −$5.6M | −$5.7M | −$5.3M | −$5.9M | −$7.5M | −$7.6M | −$8.1M | −$7.3M | −$8.6M | −$8.9M | −$9.4M | −$12.4M |
| Total shareholders' equity | $204.8M | $202.9M | $199.7M | $188.0M | $178.0M | $173.3M | $171.5M | $167.4M | $162.4M | $159.9M | $158.0M | $155.1M |
| Key figures | ||||||||||||
| Total debt | $157.7M | $170.5M | $167.2M | $187.1M | $188.8M | $189.4M | $174.2M | $194.8M | $237.2M | $195.7M | $191.7M | $228.0M |
| Net cash (debt) | −$146.5M | −$142.2M | −$34.3M | −$53.3M | −$52.1M | $27.2M | −$68.5M | $9.1M | −$54.0M | −$21.6M | $11.0M | −$46.1M |
| Working capital | −$86.1M | $36.2M | −$2.14B | −$2.12B | −$1.91B | −$1.84B | −$1.95B | −$1.69B | −$1.64B | −$1.62B | −$1.65B | −$1.49B |
| Tangible book value | $201.4M | $199.5M | $196.3M | $184.5M | $174.5M | $169.7M | $167.9M | $163.7M | $158.6M | $156.1M | $154.2M | $151.2M |
| Book value per share | $16.82 | $16.70 | $16.97 | $16.29 | $15.60 | $15.14 | $15.08 | $14.91 | $14.56 | $14.28 | $14.10 | $13.65 |
| Shares outstanding | 12.2M | 12.2M | 11.8M | 11.5M | 11.4M | 11.4M | 11.4M | 11.2M | 11.2M | 11.2M | 11.2M | 11.4M |
| Current ratio | 0.20 | 1.02 | 0.06 | 0.06 | 0.10 | 0.14 | 0.09 | 0.15 | 0.15 | 0.15 | 0.17 | 0.18 |
| Quick ratio | 0.20 | 1.00 | 0.06 | 0.06 | 0.10 | 0.14 | 0.09 | 0.15 | 0.15 | 0.15 | 0.17 | 0.18 |
| Debt / equity | 0.77 | 0.84 | 0.84 | 0.99 | 1.06 | 1.09 | 1.02 | 1.16 | 1.46 | 1.22 | 1.21 | 1.47 |
| Equity / assets | 7.9% | 7.9% | 7.8% | 7.4% | 7.1% | 6.9% | 7.2% | 7.0% | 6.9% | 7.0% | 7.0% | 7.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 13, 2026); data from EODHD.
MRBK financial position
At the end of fiscal 2025 (December 31, 2025), Meridian had total assets of $2.6 billion (up 7.4% from a year earlier), total liabilities of $2.4 billion and shareholders' equity of $199.7 million. It held $132.9 million in cash and short-term investments against $167.2 million of debt, net debt of $34.3 million. Its current ratio was 0.06. In the latest quarter (ended June 30, 2026) total assets were $2.6 billion and equity $204.8 million.
Related: MRBK income statement, MRBK cash flow statement, MRBK key metrics. See the MRBK stock overview for the latest quote and news.
MRBK balance sheet FAQ
What are Meridian's total assets?
Meridian reported total assets of $2.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.4 billion a year earlier.
How much debt does Meridian have?
Meridian had $167.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.84.
How much cash does Meridian have?
Meridian held $132.9 million in cash and short-term investments at the end of fiscal 2025; with $167.2 million of debt that is net debt of $34.3 million.
What is Meridian's book value?
Meridian's shareholders' equity (book value) was $199.7 million at the end of fiscal 2025, or $17.31 per share.
What is Meridian's current ratio?
Meridian had current assets of $143.6 million and current liabilities of $2.3 billion, a current ratio of 0.06 (current liabilities exceed current assets).
How much goodwill does Meridian have?
Meridian carried $3.5 million of goodwill and intangible assets, 0.1% of total assets, at the end of fiscal 2025.