- Refinancing activity will likely trend downwards towards a normal level. Further, high home prices will likely begin to constrain mortgage purchase volume.
- The vaccine rollout and reopening of the economy will likely drive commercial loan growth.
- Costly time deposits, representing around 11% of total funds, will likely mature in the first half of the year.
- The year-end target price suggests a moderate price upside, which warrants a neutral rating.
For further details see:
Meridian Corporation: Mortgage Banking Decline To Counter Net Interest Income Growth