The following excerpt is from the company's SEC filing.
2
Meridian
Corporation
Forward
-
Looking Statements
Meridian
Corporation
(the
“Corporation”)
may
from
time
to
time
make
written
or
oral
“forward
-
looking
statements”
within
the
meaning
of
the
“safe
harbor”
provisions
of
the
Private
Securities
Litigation
Reform
Act
of
1995
..
These
forward
-
looking
statements
include
statements
with
respect
to
Meridian
Corporation’s
strategies,
goals,
beliefs,
expectations,
estimates,
intentions,
capital
ra
ising
efforts,
financial
condition
and
results
of
operations,
future
performance
and
business
..
Statements
preceded
by,
followed
by,
or
that
include
the
words
“may,”
“could,”
“should,”
“pro
forma,”
“looking
forward,”
“would,”
“believe,”
“expect,”
“anticipate,”
“estimate,”
“intend,”
“plan,”
“project”,
or
similar
expressions
generally
indicate
a
forward
-
looking
statement
..
These
forward
-
looking
statements
involve
risks
and
uncertainties
that
are
subject
to
change
based
on
various
important
factors
(some
of
which,
in
whole
or
in
part,
are
beyond
Meridian
Corporation’s
control)
..
Numerous
competitive,
economic,
regulatory,
legal
and
technological
factors,
risks
and
uncertainties
including,
without
limitation
:
the
impact
of
the
ongoing
COVID
-
19
pandemic
and
government
responses
thereto,
on
the
U
..
S
..
economy
and
customer
behavior,
including
the
markets
in
which
we
operate
;
actions
that
we
and
our
customers
take
in
response
to
these
factors
and
the
effects
such
actions
have
on
our
operations,
products,
services
and
customer
relationships
;
and
the
risk
that
the
Small
Business
Administration
may
not
fund
some
or
all
Paycheck
Protection
Program
(PPP)
loan
guaranties,
the
effects
of
actions
by
the
federal
government,
including
the
Board
of
Governors
of
the
Federal
Reserve
System
and
other
government
agencies,
that
may
affect
market
interest
rates
and
the
money
supply,
among
others
,
could
cause
Meridian
Corporation’s
financial
performance
to
differ
materially
from
the
goals,
plans,
objectives,
intentions
and
expectations
expressed
in
such
forward
-
looking
statements
..
Meridian
Corporation
cautions
that
the
foregoing
factors
are
not
exclusive,
and
neither
such
factors
nor
any
such
forward
-
looking
statement
takes
into
account
the
impact
of
any
future
events
..
All
forward
-
looking
statements
and
information
set
forth
herein
are
based
on
management’s
current
beliefs
and
assumptions
as
of
the
date
hereof
and
speak
only
as
of
the
date
they
are
made
..
For
a
more
complete
discussion
of
the
assumptions,
risks
and
uncertainties
related
to
our
business,
you
are
encouraged
to
review
Meridian
Corporation’s
filings
with
the
Securities
and
Exchange
Commission,
including
our
Annual
Report
on
Form
10
-
K
for
the
year
ended
December
31
,
2020
and
subsequently
filed
quarterly
reports
on
Form
10
-
Q
and
current
reports
on
Form
8
-
K
that
update
or
provide
information
in
addition
to
the
information
included
in
the
Form
10
-
K
and
Form
10
-
Q
filings,
if
any
..
Meridian
Corporation
does
not
undertake
to
update
any
forward
-
looking
statement
whether
written
or
oral,
that
may
be
made
from
time
to
time
by
Meridian
Corporation
or
by
or
on
behalf
of
Meridian
Bank,
except
as
may
be
required
under
applicable
law
..
3
Meridian
Corporation
WHO
WE ARE
1
Includes home equity loans, residential mortgage loans held in portfolio and individual consumer loans.
Geographic Footprint
Branches
Mortgage
LPOs
Regional Market
Serves Pennsylvania, New Jersey, Delaware and
Maryland
Philadelphia MSA is 8
th
largest MSA in the US
Expansion into growing central Maryland MSA
Profile and Business Lines
Core Banking: C&I, CRE, construction, SBA, and consumer lending; lease
financing through Meridian Equipment Finance,
®
and deposit/treasury services.
Meridian Mortgage:
residential lending to homeowners and small scale
investors
originated
in the PA, NJ, DE, VA, MD and DC
markets.
Wealth Management Services through Meridian
Wealth
Partners,
®
a
registered
investment advisor and
subsidiary
of the
Bank. Over $1.1 billion in AUM.
Meridian specializes in business and industrial lending, retail and commercial
real estate lending, electronic payments, along with a broad menu of high
-
yield depository products supported by robust online and mobile
access.
Cash &
investments
11%
Commercial
loans
17%
SBA
loans
7%
PPP loans
5%
CRE loans
32%
Construction
loans
8%
H/E &
consumer
loans
3%
RE loans
9%
Leases
5%
FF & E
Other
assets
ASSET MIX AT DECEMBER 31, 2021
4
Meridian
Corporation
WHAT WE
DELIVER
Lending expertise in commercial/industrial, real estate &
consumer with a consultative approach. Our
experienced business bankers craft custom financial solutions to help our customers thrive.
Demonstrated
organic growth engine in diversified loan segments, capitalizing on sales culture and big
bank missteps in the Delaware Valley tri
-
state market
..
Financial services business model with significant non
-
interest income streams in Meridian Mortgage, SBA
Lending and Meridian Wealth Partners.
Customer base principally interacts online, allowing a "branch
-
lite" banking strategy that provides
substantial operational leverage.
Skilled, long
-
tenured management team with extensive in
-
market experience
..
Excellent
asset quality with diversified loan portfolio.
Low commercial real estate (CRE) concentration; focus on smaller,
shorter duration
projects to be more
nimble
..
Nationally recognized as a great place to work; very low historical
employee turnover.
5
Meridian
Corporation
4
QTR HIGHLIGHTS
1)
As of and for the quarter ended December 31, 2021, per January 31, 2022 press release.
2)
Includes PPP loans, loans held for sale and loans held for investment.
3)
Excludes loans at fair value, loans held for sale and PPP loans. A Non
-
GAAP measure. Refer to Appendix for Non
-
GAAP to GAAP reco
nciliation.
4)
Excludes PPP loans and PPPLF borrowings. A Non
-
GAAP measure. Refer to Appendix for Non
-
GAAP to GAAP reconciliation.
4
QTR Overview
Financial
Highlights
4
QTR 2021¹
Balance
Sheet ($ in Millions)
Asset
Quality (%)
Profitability (%)
Net income was
$7.7
million for the quarter, or $
1.24
per diluted share, driven by
loan
and deposit growth.
Total revenues
of
$35.3
million, resulting in ROE of
19.15%
and ROA of
1.74% for 4Q 2021.
7
th
consecutive quarter of ROA exceeding 1.50% and
ROE exceeding 19.00%.
Loan growth for the quarter equaled
2.8%
(ex PPP and
residential held
-
for
-
sale),
and 19.5%
year over year.
Growth for the quarter was concentrated in
commercial loans
, SBA loans (non
-
PPP),
residential
real estate loans, and
originations from our Meridian
Equipment Finance leasing subsidiary.
Active COVID
-
19 loan
deferrals decreased
to
$2.4
million for the quarter, from
$24.9
million at the end
of the prior quarter.
Reserves/Loans
3
1.46%
NCOs (recoveries)/Loans
0.00%
Nonaccrual Loans/Loans
1.57%
6
Meridian
Corporation
SUMMARY INCOME STATEMENT
1)
A Non
-
GAAP measure. See
Non
-
GAAP reconciliation in the Appendix
Net interest income up $65 thousand
Negative provision due to continued
improvement in economic conditions
captured in ALLL, decline in COVID
-
19
loan deferrals, partially offset by
provisioning for growth and a $1.4
million specific reserve
Mortgage earnings down from decline in
gain on sale margin, decline in loans sold,
loan originations down 18%
(dollars in thousands)
Summary Income Statement
4Q 2021
3Q 2021
4Q 2020
Net Interest Income
16,322
$
16,257
$
15,018
$
Provision for Loan Loss
(222)
597
1,163
Non-Interest Income
17,086
22,122
29,945
Non-Interest Expense
23,737
25,481
31,923
Income before Income Taxes
9,893
12,301
11,877
Income Taxes
2,174
2,863
2,880
Net Income
7,719
$
9,438
$
8,997
$
Earnings per Share
4Q 2021
3Q 2021
4Q 2020
Basic Earnings per Share
1.29
$
1.56
$
1.50
$
Diluted Earnings per Share
1.24
$
1.52
$
1.48
$
Pre-tax, Pre-provision Income by Segment:
4Q 2021
3Q 2021
4Q 2020
Bank
6,829
$
8,896
$
6,294
$
Wealth
286
432
157
Mortgage
2,556
3,570
6,589
Total pre-tax, pre-provision income (1)
9,671
$
12,898
$
13,040
$
71%
3%
26%
Pre
-
tax, Pre
-
provision Income
Bank
Wealth
Mortgage
Bank
segment represents 71% of pre
-
tax, pre
-
provision income for 4Q
2021
7
Meridian
Corporation
NET INTEREST INCOME GROWTH TREND
1) A
Non
-
GAAP measure. See Non
-
GAAP reconciliation in the Appendix
Net interest income for 4
Q
2021 increased
$
6
5
thousand, or
0.4%,
to $
16.3
million
from 3Q
2021. Growth
quarter over quarter
2021 was due largely to a
$123
thousand, or 6.0%, decrease in interest expense as the cost of deposits decreased 4 basis points.
3.67%
3.72%
3.61%
3.61%
3.49%
3.27%
3.26%
3.59%
3.72%
3.70%
3.83%
3.83%
3.48%
3.41%
3.47%
3.52%
3.64%
3.75%
3.73%
3.76%
2.90%
3.00%
3.10%
3.20%
3.30%
3.40%
3.50%
3.60%
3.70%
3.80%
3.90%
$-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
Q1 19
Q2 19
Q3 19
Q4 19
Q1 20
Q2 20
Q3 20
Q4 20
Q1 21
Q2 21
Q3 21
Q4 21
Net Interest Income
Net Interest Margin
Net Interest Margin (excl PPP impact) (1)
NIM excl PPP expanded
35 bps since Q2 2020
8
Meridian
Corporation
NON
-
INTEREST INCOME
Non
-
Interest Income decreased $5.0 million or 22.8% from
3
Q2021
Mortgage banking net revenue (including fair value and
hedging impacts) decreased $3.5 million. Decrease driven by
lower levels of mortgage loan originations compared to 3Q
2021.
Net
revenue from the sale of SBA 7(a) loans was
down
$1.2
million as the value of loans sold
decreased
to
$15.6
million
in
4Q2021
compared to
$25.0
million in loans sold in the
3Q2021
..
Wealth management revenue increased
$38
thousand, or
3.1%,
due to the more favorable market conditions that
existed in
4Q
2021. AUM continued above $1 billion.
(Dollars in thousands)
4Q 2021
3Q 2021
Change
Mortgage banking income
(including FV changes)
13,148
16,666
(3,518)
Wealth management income
1,270
1,232
38
SBA income
1,475
2,688
(1,213)
Other income
1,193
1,536
(343)
Total
17,086
$
22,122
$
(5,036)
$
77%
7%
9%
7%
Quarter ended December 31, 2021
(% of total non
-
interest income)
Mortgage banking income (including FV changes)
Wealth management income
SBA income
Other income
9
Meridian
Corporation
NON
-
INTEREST EXPENSE
Non
-
Interest Expense decreased $1.7 million or 6.8% from 3Q2021
Total salaries and employee benefits expense was $17.0
million, a net decrease of $2.4 million or 12.5%, for the period.
Most of the decrease related to the mortgage segment, which
recognizes variable compensation based on originations.
Other expenses were up due to several items including
increases in insurance, promotional items/events, director
compensation, employee expenses, and other less significant
items.
Data processing and information technology expenses
increased $345 thousand due largely to growth.
(Dollars in thousands)
4Q 2021
3Q 2021
Change
Salaries and employee benefits
17,042
19,472
(2,430)
Occupancy and equipment
1,085
1,133
(48)
Professional fees
929
873
56
Data processing and information technology
1,351
1,006
345
Other
3,329
2,997
332
Total
$23,736
$25,481
($1,745)
72%
4%
4%
6%
14%
Quarter ended December 31, 2021
(% of total non
-
interest expense)
Salaries and employee benefits
Occupancy and equipment
Professional fees
Data processing and information technology
Other
10
Meridian
Corporation
ASSET QUALITY
December 31, 2021
1)
Excludes loans held for sale and, for 2Q 2020 to 4Q 2021, PPP loans. A
Non
-
GAAP measure. See Appendix for Non
-
GAAP to GAAP reconciliation.
2)
Includes loans held for sale and held for investment.
Nonaccrual Loans
/
Loans
2
(%)
4
Q 2021 Highlights:
Strong reserves to total loans; 4Q
2021 had a negative
$222 thousand provision for loan
losses
due to
improving economic factors
Nonaccrual loans to total loans
2
1.57% in 4Q
2021
COVID modifications declined to $2.4 million; one
relationship ($13.8 million) now classified as non
-
performing
Reserves / Loans
1
(%)
Net Charge
-
offs
/
Average Loans
2
(%)
0.39%
0.30%
0.46%
0.49%
0.48%
0.52%
1.34%
2018
2019
2020
1Q21
2Q21
3Q21
4Q21
0.03%
(0.06%)
0.00%
0.00%
0.01%
0.00%
0.00%
2018
2019
2020
1Q21
2Q21
3Q21
4Q21
0.97%
1.00%
1.65%
1.65%
1.58%
1.52%
1.46%
2018
2019
2020
1Q21
2Q21
3Q21
4Q21
11
Meridian
Corporation
Update on COVID
-
19 Support to Customers
CARES Act Loan Deferrals
PPP Loan
Forgiveness at 1/31/22
Note
1:
One loan relationship for $13.8 million
within the advertising industry had CARES Act
payment deferrals that expired. During 4Q, the
loan was reclassified as a non
-
performing loan
relationship with a specific reserve of $1.4
million.
As of January 31,
2022
the remaining $2.4 million
of loan deferrals from Q4 2021 have expired
without further deferral or modification given to
borrowers.
81% of the PPP loans have been repaid in full
Included in the balance of Loans Not Yet Applied
for Forgiveness as of January 31,
2022:
$27.8 million (176 loans) are from round 2
and not
yet subject
to
repayment
$10.9 million of loans have been
submitted for repayment through the SBA
guarantee program.
$63 thousand
are delinquent
(dollars in millions)
PPP Loans
$ Value of Loans
# of Loans
PPP Loans Forgiven
284.6
$
1,164
Loans Paid Off by Borrower
8.7
$
3
SBA Guarantee Payments
2.6
$
5
Total Loans Paid Back
295.9
$
1,172
Forgiveness Requested
31.2
$
88
Not Yet Applied for Forgiveness
38.7
$
191
Total Loans Yet to be Forgiven
70.0
$
279
Total PPP Loans
365.9
$
1,451
(dollars in millions)
Loan Deferrals by Industry
4Q 2021
3Q 2021
4Q 2020
Advertising
(Note 1)
-
$
13.8
$
-
$
Hotels
-
7.7
11.8
$
C&I Building Construction
-
1.0
10.1
$
Other
2.4
2.4
2.2
$
Total Loan Deferrals
2.4
$
24.9
24.2
$
12
Meridian
Corporation
CAPITALIZATION AS OF
12/31/2021
All
c
orporate capital ratios
significantly exceed well
capitalized regulatory
requirements
Bank level
-
Community
Banking
Leverage Ratio
of 11.51% compared to
minimum of 8.5%
-
$51.3 M excess capital
4Q 2021 quarterly dividend
$0.20 per share; special $1.00
per share dividend announced
to be paid 2/21/22
Paid $1.00 per share special
dividend in 1Q 2021
24 thousand shares
repurchased in 4Q through
publicly announced plan
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
220,000
Leverage
Com Equity
Tier 1
Total RBC
85,388
103,671
125,886
155,506
74,991
56,708
34,493
63,894
Capital Excess Over Regulatory Minimums ($000s)
Regulatory Minimum
Regulatory Excess
9.42%
10.83%
10.83%
14.81%
13
Meridian
Corporation
APPENDIX
14
Meridian
Corporation
HISTORICAL FINANCIAL HIGHLIGHTS
1)
Includes
loans held for sale and held for investment
..
2)
Includes
loans held for investment (excluding loans at fair value and PPP loans
).
3)
A Non
-
GAAP measure. See Appendix for Non
-
GAAP to GAAP reconciliation
..
Dollar Values in Thousands, Except Per Share Amounts
2018Y
2019Y
2020Y
1Q 2021
2Q 2021
3Q 2021
4Q 2021
Balance Sheet
Total Assets
$ 997,480
$ 1,150,019
1,720,197
$
1,743,977
$
1,709,010
$
1,762,445
$
1,713,443
$
Loans
1
875,801
998,414
1,513,963
$
1,524,799
1,495,098
1,496,666
1,467,339
Deposits
752,130
851,168
1,241,335
$
1,383,590
1,413,280
1,439,047
1,446,413
Gross Loans / Deposits
116.44%
117.30%
121.96%
110.21%
105.79%
104.00%
101.45%
Capital
Total Equity
$ 109,552
$ 120,695
141,622
$
143,505
$
152,885
$
158,416
$
165,360
$
Tangible Common Equity / Tangible Assets - HC
3
10.53%
10.11%
7.99%
7.99%
8.71%
8.76%
9.42%
Tangible Common Equity / Tangible Assets - Bank
3
10.53%
13.52%
10.25%
10.22%
10.92%
10.90%
11.54%
Tier 1 Leverage Ratio - HC
11.16%
10.55%
8.96%
8.86%
8.97%
9.28%
9.39%
Tier 1 Leverage Ratio - Bank
11.16%
14.08%
11.54%
11.34%
11.28%
11.55%
11.51%
Total Capital Ratio - HC
13.66%
16.10%
14.55%
14.05%
14.23%
14.72%
14.81%
Total Capital Ratio - Bank
13.66%
16.09%
14.54%
14.03%
14.18%
14.62%
14.63%
Commercial Real Estate Loans / Total RBC
183.80%
176.97%
172.15%
171.74%
174.09%
182.18%
167.20%
Earnings & Profitability
Net Income
$ 8,163
$ 10,481
26,438
$
10,170
$
8,258
$
9,438
$
7,719
$
ROA
0.90%
1.01%
1.78%
2.43%
1.92%
2.15%
1.74%
ROE
7.77%
9.09%
21.33%
30.06%
22.61%
24.07%
19.15%
Net Interest Margin (NIM)(TEY)
3.80%
3.65%
3.40%
3.72%
3.70%
3.83%
3.83%
NIM (TEY, excluding PPP loans and PPPLF borrowings)
3
3.80%
3.65%
3.47%
3.64%
3.75%
3.73%
3.76%
Non-Int Inc. / Avg. Assets
3.58%
3.19%
5.85%
6.47%
5.06%
5.04%
3.86%
Efficiency Ratio
81.4%
79.2%
68.5%
67.0%
70.7%
66.4%
71.1%
Asset Quality
Nonaccrual Loans / Loans
1
0.45%
0.34%
0.62%
0.56%
0.55%
0.61%
1.57%
NPAs / Assets
0.39%
0.30%
0.46%
0.49%
0.48%
0.52%
1.34%
Reserves / Loans
2, 3
0.97%
1.00%
1.65%
1.65%
1.58%
1.52%
1.46%
NCOs / Average Loans
0.03%
(0.06%)
0.00%
0.00%
0.01%
0.00%
0.00%
Yield and Cost
Yield on Earning Assets (TEY)
5.14%
5.30%
4.35%
4.29%
4.20%
4.31%
4.28%
Yield on Earning Assets (TEY), excluding PPP loans)
3
5.14%
5.30%
4.51%
4.26%
4.30%
4.24%
4.23%
Cost of Deposits
1.29%
1.67%
1.07%
0.49%
0.40%
0.37%
0.33%
Cost of Interest-Bearing Liabilities
1.69%
2.10%
1.18%
0.77%
0.67%
0.62%
0.60%
For the Quarter Ended
For the Year Ended
15
Meridian
Corporation
RECONCILIATION OF NON
-
GAAP FINANCIAL MEASURES
Tangible common equity to tangible
assets
Management uses the measure tangible common equity to tangible assets to assess our capital strength. We
believe that
this non
-
GAAP financial measure is useful to
investors because, by removing the impact of our preferred stock
, goodwill
and other intangible assets, it allows investors to more easily assess our capital adequacy.
This
non
-
GAAP financial
measure should not be considered a substitute for any regulatory capital ratios and may not be comparable
to other
similarly titled measures
used by other companies. The table below provides the non
-
GAAP reconciliation
for our
tangible common equity to tangible assets:
(dollars in thousands)
Meridian Corporation
2018Y
2019Y
2020 Y
1Q 2021
2Q 2021
3Q 2021
4Q 2021
Tangible common equity ratio:
Total stockholders' equity
109,552
120,695
141,622
143,505
152,885
158,416
165,360
Less:
Goodwill
899
899
899
899
899
899
899
Intangible assets
4,147
3,874
3,601
3,533
3,481
3,430
3,379
Tangible common equity
104,507
115,922
137,122
139,073
148,505
154,087
161,082
Total assets
997,480
1,150,019
1,720,197
1,743,977
1,709,010
1,762,445
1,713,443
Less:
Goodwill
899
899
899
899
899
899
899
Intangible assets
4,147
3,874
3,601
3,533
3,481
3,430
3,379
Tangible assets
992,434
1,145,246
1,715,697
1,739,545
1,704,630
1,758,116
1,709,166
Tangible common equity ratio
10.53%
10.12%
7.99%
7.99%
8.71%
8.76%
9.42%
(dollars in thousands)
Meridian Bank
2018Y
2019Y
2020 Y
1Q 2021
2Q 2021
3Q 2021
4Q 2021
Tangible common equity ratio:
Total stockholders' equity
109,552
159,643
180,288
182,171
190,477
196,009
201,486
Less:
Goodwill
899
899
899
899
899
899
899
Intangible assets
4,147
3,874
3,601
3,533
3,481
3,430
3,379
Tangible common equity
104,507
154,870
175,788
177,739
186,097
191,680
197,208
Total assets
997,480
1,149,979
1,720,166
1,743,945
1,709,006
1,762,415
1,713,318
Less:
Goodwill
899
899
899
899
899
899
899
Intangible assets
4,147
3,874
3,601
3,533
3,481
3,430
3,379
Tangible assets
992,434
1,145,206
1,715,666
1,739,513
1,704,626
1,758,086
1,709,040
Tangible common equity ratio
10.53%
13.52%
10.25%
10.22%
10.92%
10.90%
11.54%
16
Meridian
Corporation
RECONCILIATION OF NON
-
GAAP FINANCIAL MEASURES
Dollar Values in Thousands
4Q 2020
1Q 2021
2Q 2021
3Q 2021
4Q 2021
Reconciliation of Net Interest Margin (TEY, exluding PPP loans and PPPLF borrowings)
Net interest margin (TEY)
3.59%
3.72%
3.70%
3.83%
3.83%
Impact of PPP loans and PPPLF borrowings
(0.07%)
(0.08%)
0.05%
(0.10%)
(0.07%)
Net interest margin (TEY, excluding PPP loans and PPPLF borrowings)
3.52%
3.64%
3.75%
3.73%
3.76%
Reconciliation of Reserves / Loans
Allowance for loan losses / Total loans held for investment
1.38%
1.36%
1.35%
1.38%
1.35%
Less: Impact of loans held for investment - fair valued
0.00%
0.00%
0.01%
0.01%
0.02%
Less: Impact of PPP loans
0.27%
0.29%
0.22%
0.13%
0.09%
Allowance / Total loans held for investment (excl. loans at fair value and PPP loans)
1.65%
1.65%
1.58%
1.52%
1.46%
Reconciliation of Yield on Earning Assets
Yield on earning assets (TEY)
4.28%
4.29%
4.20%
4.31%
4.28%
Impact of PPP loans
(0.01%)
(0.03%)
0.10%
(0.07%)
(0.05%)
Yield on earning assets (TEY, excluding PPP loans)
4.27%
4.26%
4.30%
4.24%
4.23%
4Q 2020
1Q 2021
2Q 2021
3Q 2021
4Q 2021
Income before inocme tax expense
11,877
13,306
10,802
12,301
9,893
Add: Provision for loan losses
1,163
599
96
597
(222)
Pre-tax, pre-provision income
$13,040
$13,905
$10,898
$12,898
$9,671
Reconciliation of PPP Related Non-GAAP Measures
Reconciliation of Pre-tax, Pre-Provision Non-GAAP Measure
For the Quarter Ended
For the Quarter Ended
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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