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MRBK - Meridian Corporation: Mortgage Banking Normalization Margin Compression To Hurt Earnings
Meridian Corporation
Mortgage banking income will likely start to normalize from the mid of next year as stable interest rates will diminish the benefit of refinancing for homeowners.
Loan growth will likely slow down next year mostly due to the forgiveness of Paycheck Protection Program Loans, which made up around 20% of total loans.
MRBK’s current market price provides a small potential price upside and a low dividend yield.