Meridian Bank declares two-for-one stock split

Meridian Corporation announced that it has approved and declared a two-for-one stock split in the form of a 100% stock dividend on its outstanding shares of common stock. Each shareholder of record as of the close of business on March 14 will receive one additional share of company common stock for each share then held, to be distributed after the close of business on March 20. Based on the number of shares currently outstanding, the company will have 11,405,184 shares of common stock issued and outstanding, net of treasury shares, on a split-adjusted basis. Christopher Annas, Chairman and CEO commented: "We are very pleased with our historical financial performance and excited about opportunities in our core Philadelphia metro market. The additional shares issued will allow for greater participation of shareholders on a local level at value prices. We feel a meaningful local shareholder base is important and can expand our branding in the tri-state area."