Meridian bancorp, inc. (EBSB)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Interest and dividend income:
Interest and fees on loans

64,037

64,801

66,121

64,040

61,641

59,424

55,849

53,904

49,985

49,144

46,597

43,195

40,489

40,172

37,444

34,828

33,097

31,555

30,153

28,546

28,332

27,650

26,617

25,112

24,435

23,936

22,889

21,730

20,794

Interest on debt securities:
Taxable

87

96

101

108

110

115

115

126

126

42

58

83

119

159

203

238

266

297

366

434

511

505

588

630

745

812

944

1,007

1,156

Tax-exempt

13

13

12

13

13

13

13

15

15

14

0

8

10

19

30

32

33

38

41

41

42

44

45

44

45

50

53

53

53

Dividends on equity securities

94

109

137

142

105

121

101

134

148

223

275

291

277

346

365

418

400

422

408

421

387

378

357

377

313

322

348

364

349

Interest on certificates of deposit

1

1

18

28

27

82

104

141

203

185

221

196

212

115

75

135

170

168

163

157

136

-

-

-

-

-

-

-

-

Other interest and dividend income

1,786

1,811

2,136

1,943

2,577

1,957

1,932

1,527

1,522

1,265

819

736

645

438

303

188

218

159

207

188

170

261

258

138

90

93

86

101

64

Total interest and dividend income

66,018

66,831

68,525

66,274

64,473

61,712

58,114

55,847

51,999

50,873

47,970

44,509

41,752

41,249

38,420

35,839

34,184

32,639

31,338

29,787

29,578

28,885

27,865

26,301

25,628

25,213

24,320

23,255

22,416

Interest expense:
Interest on deposits

16,769

18,996

20,178

20,653

19,151

17,090

14,284

12,751

10,509

10,100

8,528

7,935

7,419

6,962

6,273

5,661

5,228

4,800

4,643

4,359

4,677

4,716

4,513

4,407

4,405

4,537

4,427

4,141

3,948

Interest on short-term borrowings

8

-

1

0

295

-

-

-

-

-

-

4

-

-

0

0

6

-

-

-

-

-

-

-

-

-

-

-

-

Interest on borrowings

4,143

4,477

4,129

3,151

2,430

2,449

2,463

2,049

1,642

1,448

1,388

1,114

980

874

845

723

571

495

482

482

508

564

632

655

621

649

796

795

842

Total interest expense

20,920

23,177

24,308

23,804

21,876

19,539

16,747

14,800

12,151

11,544

9,916

9,053

8,399

7,830

7,118

6,384

5,805

5,300

5,125

4,841

5,185

5,280

5,145

5,062

5,026

5,186

5,223

4,936

4,790

Net interest income

45,098

43,654

44,217

42,470

42,597

42,173

41,367

41,047

39,848

39,329

38,054

35,456

33,353

33,419

31,302

29,455

28,379

27,339

26,213

24,946

24,393

23,605

22,720

21,239

20,602

20,027

19,097

18,319

17,626

Provision (reversal) for loan losses

725

-504

-2,978

78

843

3,563

226

1,870

2,189

-715

2,458

1,497

1,619

1,304

858

3,952

1,066

544

2,412

3,651

60

1,829

655

696

133

1,840

151

3,219

1,260

Net interest income, after provision for loan losses

44,373

44,158

47,195

42,392

41,754

38,610

41,141

39,177

37,659

40,044

35,596

33,959

31,734

32,115

30,444

25,503

27,313

26,795

23,801

21,295

24,333

21,776

22,065

20,543

20,469

18,187

18,946

15,100

16,366

Non-interest (loss) income:
Customer service fees

2,097

2,407

2,428

2,288

2,097

2,371

2,242

2,282

2,170

2,170

2,081

2,214

2,052

2,235

2,172

2,137

1,947

2,122

2,049

2,003

1,757

1,953

1,880

1,860

1,799

1,910

1,857

1,776

1,586

Loan fees

674

-17

436

53

77

41

301

-158

295

88

180

1,634

68

335

293

-22

312

203

318

230

166

124

148

106

213

159

185

108

56

Mortgage banking gains, net

411

69

99

101

40

25

74

63

133

109

176

82

90

125

274

104

70

119

38

268

110

126

19

267

120

127

-102

403

155

Gain on sales of securities available for sale, net

-

-

-

-

-

-

-

-

-

6,058

865

808

1,574

2,627

266

68

59

-57

45

1,424

1,020

1,847

1,346

1,505

1,560

2,240

2,995

2,128

2,273

(Loss) gain on marketable equity securities, net

-4,344

930

-463

223

1,326

-2,698

781

388

-537

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from bank-owned life insurance

297

281

285

280

281

281

279

277

272

284

294

292

288

294

296

296

302

295

340

294

296

297

294

293

281

309

299

296

291

Gain on life insurance distribution

-

-

52

-

-

-

-

-

-

-

1,657

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income

34

12

12

9

7

-

-

6

-

-

-

-

-

-

-

-

2

-

7

0

1

1

0

6

11

-

-

9

-

Total non-interest (loss) income

-831

3,682

2,849

2,954

3,828

135

3,677

2,858

2,333

8,709

5,253

5,030

4,072

5,614

3,301

2,583

2,692

2,674

2,797

4,219

3,350

4,348

3,687

4,037

3,984

5,101

5,234

4,720

4,361

Non-interest expenses:
Salaries and employee benefits

15,914

15,722

15,101

14,916

15,632

14,648

14,386

14,438

15,394

13,761

12,973

12,752

13,675

12,167

12,169

11,979

12,513

11,618

11,235

10,717

11,167

10,340

10,249

10,017

10,801

10,034

10,033

9,476

10,075

Occupancy and equipment

3,924

3,691

3,657

3,650

3,596

3,214

2,981

3,025

3,539

2,798

2,676

3,036

3,023

2,881

2,577

2,867

2,484

2,482

2,406

2,368

2,620

2,229

2,252

2,216

2,561

2,275

2,103

2,086

2,334

Data processing

2,137

2,074

2,026

2,009

1,970

1,832

1,747

1,653

1,683

1,531

1,528

1,474

1,379

1,331

1,293

1,254

1,257

1,317

1,375

1,249

1,263

1,245

1,201

909

1,161

1,115

1,089

1,079

991

Marketing and advertising

1,230

1,151

1,019

1,299

1,162

1,252

832

1,006

967

1,131

715

953

854

973

832

699

713

1,160

766

895

894

637

769

688

807

907

539

812

691

Professional services

997

858

680

784

860

735

683

1,000

965

804

624

1,106

1,135

969

663

720

613

652

644

664

673

581

588

659

641

717

453

537

601

Foreclosed real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

96

15

14

-

-47

199

11

318

-31

86

106

Deposit insurance

669

255

10

929

1,012

576

851

782

797

824

660

813

691

481

572

532

452

527

522

479

461

534

515

531

551

531

525

522

475

Merger and acquisition

-

-

-

-

-

0

26

14

74

-

271

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other general and administrative

1,449

1,512

1,354

1,530

1,564

1,380

1,501

1,547

1,270

1,236

1,367

1,271

1,120

976

1,058

1,271

1,198

1,556

1,045

960

976

1,622

1,180

1,062

888

1,144

876

997

1,019

Total non-interest expenses

26,320

25,263

23,847

25,117

25,796

23,637

23,007

23,465

24,689

23,869

20,814

21,405

21,877

19,778

19,164

19,322

19,230

19,187

18,089

17,347

18,068

17,025

16,707

16,281

17,421

17,041

15,587

15,595

16,292

Income before income taxes

17,222

22,577

26,197

20,229

19,786

15,108

21,811

18,570

15,303

24,884

20,035

17,584

13,929

17,951

14,581

8,764

10,775

10,282

8,509

8,167

9,615

9,099

9,045

8,299

7,032

6,247

8,593

4,225

4,435

Provision for income taxes

4,245

5,509

6,508

5,061

4,715

2,750

4,454

4,508

3,309

15,863

6,702

6,237

4,685

6,642

5,084

2,857

3,298

3,407

2,767

2,582

3,210

3,062

3,030

2,795

2,261

2,232

3,272

1,200

1,367

Net income

12,977

17,068

19,689

15,168

15,071

12,358

17,357

14,062

11,994

9,021

13,333

11,347

9,244

11,309

9,497

5,907

7,477

6,875

5,742

5,585

6,405

6,037

6,015

5,504

4,771

4,015

5,321

3,025

3,068

Earnings per share:
Basic

0.26

0.33

0.39

0.30

0.29

0.24

0.34

0.27

0.23

0.18

0.26

0.22

0.18

0.22

0.19

0.12

0.14

0.13

0.11

0.11

0.12

0.12

0.12

0.10

0.09

-0.09

0.10

0.14

0.14

Diluted

0.25

0.34

0.38

0.29

0.29

0.23

0.33

0.27

0.23

0.17

0.25

0.22

0.18

0.22

0.18

0.11

0.14

0.12

0.11

0.11

0.12

0.12

0.11

0.10

0.09

-0.09

0.10

0.14

0.14

Weighted average shares outstanding:
Basic

50,634

51,025

50,923

51,051

51,120

51,530

51,492

51,437

51,531

51,431

51,229

51,003

50,949

50,936

50,982

51,026

51,569

51,983

51,940

52,074

51,862

51,779

52,043

53,047

53,011

115,653

52,965

21,649

21,639

Diluted

50,920

51,537

51,454

51,511

51,467

51,955

52,732

52,867

53,083

53,032

52,672

52,422

52,526

52,098

52,093

52,137

52,663

53,093

53,023

53,166

53,003

52,919

53,156

54,125

54,069

117,558

53,866

21,962

21,952