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Meridian (Meridian) Effective Interest Rate on Debt % : 67.15% (As of Mar. 2024)


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What is Meridian Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Meridian's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $82.4 Mil. Meridian's average total debt for the quarter that ended in Mar. 2024 was $122.8 Mil. Therefore, Meridian's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 67.15%.


Meridian Effective Interest Rate on Debt % Historical Data

The historical data trend for Meridian's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Meridian Effective Interest Rate on Debt % Chart

Meridian Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only 11.42 13.31 20.72 18.32 63.74

Meridian Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 24.31 26.30 31.51 55.86 67.15

Competitive Comparison of Meridian's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Meridian's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Meridian's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Meridian's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Meridian's Effective Interest Rate on Debt % falls into.



Meridian Effective Interest Rate on Debt % Calculation

Meridian's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -67.647/( (162.428+49.836)/ 2 )
=-1  *  -67.647/106.132
=63.74 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=40.346 + 122.082
=162.428

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=49.836 + 0
=49.836

Meridian's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -82.424/( (49.836+195.67)/ 2 )
=-1  *  -82.424/122.753
=67.15 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=49.836 + 0
=49.836

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=195.67 + 0
=195.67

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Meridian  (NAS:MRBK) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Meridian Effective Interest Rate on Debt % Related Terms

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Meridian (Meridian) Business Description

Industry
Traded in Other Exchanges
N/A
Address
9 Old Lincoln Highway, Malvern, PA, USA, 19335
Meridian Corp is a full-service, state-chartered commercial bank providing personal, business lending, and deposit services. It operates in three business segments including Bank, Wealth, and Mortgage. The Bank segment consists of commercial and retail banking. The mortgage division consists of a mortgage consultant's guide. Its mortgage portfolio includes commercial mortgage, home equity, residential mortgage, construction, commercial, industrial, and consumer loans. It generates maximum revenue from the Bank segment.
Executives
Denise Lindsay director, officer: Exec Vice President and CFO 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Anthony Mark Imbesi director 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Christopher J. Annas director, officer: Chairman & CEO 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Robert M. Casciato director 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Robert T. Holland director 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Edward J. Hollin director 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Christine Marie Helmig director 575 WELLINGTON SQUARE, UNIT 205, EXTON PA 19341
Collier George C. Iii director 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Charles D. Kochka officer: Chief Lending Officer 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Kenneth H. Slack director 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Joseph L. Cafarchio officer: Chief Credit Officer 9 OLD LINCOLN HIGHWAY, MALVERN PA 19355
Randall J Mcgarry officer: Chief Information Officer 4390 DAVISVILLE ROAD, HATBORO PA 19040