Meridian Drills Further High-Grade Au-Cu-Ag & Zn Mineralization at Santa Helena and Opens New Gold Exploration Frontier at Santa FéSeptember 09, 2025 6:30 AM EDT | Source: Meridian Mining UK SocietasHighlights:Meridian drills multiple intersections of shallow high-grade Au-Cu-Ag & Zn mineralization at Santa Helena :CD-749: 6.1m @ 10.5g/t AuEq (7.1% CuEq);CD-742: 7.6m @ 6.9g/t AuEq (4.6% CuEq);Including 2.6m @ 10.5g/t AuEq (7.0% CuEq);CD-735: 9.6m @ 5.8g/t AuEq (3.9% CuEq);Including 5.7m @ 8.8g ...

Group 1 - Meridian Corporation (MRBK) has been performing exceptionally well in recent months, with a market capitalization of $173.5 million, indicating its status as a small player in the market [1] - The focus of Crude Value Insights is on cash flow and companies that generate it, highlighting the potential for value and growth in the oil and natural gas sector [1] Group 2 - Subscribers to Crude Value Insights benefit from a 50+ stock model account, in-depth cash flow analyses of exploration and production (E&P) firms, and live chat discussions about the sector [2] - A two-week free trial is available for new subscribers, promoting engagement with oil and gas investment opportunities [3]

London, United Kingdom--(Newsfile Corp. - September 2, 2025) - Meridian Mining UK S (TSX: MNO) (OTCQX: MRRDF) (FSE: N2E) ("Meridian" or the "Company") announces the appointment of Mr. David Halkyard as Interim Chief Financial Officer ("CFO"), following the resignation of Ms. Soraia Morais as CFO. The Company is also pleased to announce the transition of Mr. Vitor Hugo de Sousa Belo to the position of Chief Development Officer ("CDO") of the Company to oversee the development and construction of the Cabaçal ...

CHARLOTTE, N.C., Aug. 25, 2025 /PRNewswire/ -- Meridian announced today that it has entered into a definitive agreement to divest its Flooring Adhesives Division—including the Taylor Adhesives, Polycom, and Frontier Products brands—to Avery Dennison, a global leader in materials science and digital identification solutions.Upon closing, the Flooring Business will be integrated into Avery Dennison's Materials Group business, positioning the brands for accelerated innovation and expanded reach."This transacti ...

[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Item 1 Financial Statements (Unaudited)](index=3&type=section&id=Item%201%20Financial%20Statements%20(Unaudited)) Unaudited Q2 2025 financials show total assets at $2.51 billion and net income at $5.6 million, driven by loan growth [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements show total assets grew to $2.51 billion and Q2 2025 net income rose to $5.6 million, driven by loan growth Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$2,510,938** | **$2,385,867** | | Loans and other finance receivables, net | $2,087,399 | $2,011,999 | | Total Deposits | $2,110,374 | $2,005,368 | | **Total Liabilities** | **$2,332,918** | **$2,214,345** | | **Total Stockholders' Equity** | **$178,020** | **$171,522** | Consolidated Income Statement Highlights (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | 6 Months 2025 | 6 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $21,159 | $16,846 | $40,935 | $33,455 | | Provision for credit losses | $3,803 | $2,680 | $9,015 | $5,546 | | **Net Income** | **$5,592** | **$3,326** | **$7,991** | **$6,002** | | Diluted EPS | $0.49 | $0.30 | $0.70 | $0.54 | Consolidated Cash Flow Highlights - Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $6,072 | $(20,915) | | Net cash used in investing activities | $(100,549) | $(113,333) | | Net cash provided by financing activities | $117,189 | $101,609 | | **Net change in cash and cash equivalents** | **$22,712** | **$(32,639)** | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail accounting policies, financial instruments, and segment performance, with loan portfolio at $2.1 billion and ACL at $20.9 million - The investment portfolio's temporary impairment is primarily due to market interest rate changes, and the Corporation does not anticipate needing to sell these securities before recovery, thus **no Allowance for Credit Losses (ACL) was deemed warranted**[37](index=37&type=chunk) Loan Portfolio Composition (in thousands) | Loan Category | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Commercial mortgage | $855,465 | $823,976 | | Construction | $285,231 | $259,553 | | Commercial and industrial | $404,011 | $367,366 | | Small business loans | $144,655 | $155,775 | | Leases, net | $57,822 | $75,987 | | Other | $357,250 | $343,635 | | **Total Loans** | **$2,104,434** | **$2,026,292** | Allowance for Credit Losses (ACL) Roll-Forward - Six Months Ended June 30, 2025 (in thousands) | | Amount | | :--- | :--- | | Beginning Balance (Jan 1, 2025) | $18,438 | | Charge-offs | $(6,987) | | Recoveries | $555 | | Provision for credit losses | $8,845 | | **Ending Balance (June 30, 2025)** | **$20,851** | - The company sold approximately **$979 thousand** of residential mortgage loan servicing rights (MSRs) associated with **$110.2 million** of serviced loans during the first six months of 2025, **significantly reducing its MSR asset balance**[85](index=85&type=chunk) Segment Income Before Taxes (in thousands) | Segment | Q2 2025 | Q2 2024 | 6 Months 2025 | 6 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Bank | $5,202 | $3,171 | $8,848 | $6,711 | | Wealth | $604 | $676 | $1,332 | $1,154 | | Mortgage | $1,481 | $545 | $252 | $80 | | **Total** | **$7,287** | **$4,392** | **$10,432** | **$7,945** | [Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations](index=37&type=section&id=Item%202%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion highlights significant improvements in Q2 2025 financial performance, driven by increased net interest income [Executive Overview](index=38&type=section&id=Executive%20Overview) Executive overview summarizes H1 2025 financial achievements, including total assets growth to $2.5 billion and Q2 net income of $5.6 million - Key financial highlights for the first six months of 2025 compared to year-end 2024 include: - Total assets increased by **$125.1 million** (**5.2%**) to **$2.5 billion** - Portfolio loans grew by **$78.1 million** (**3.9%**) to **$2.1 billion** - Total deposits increased by **$105.0 million** (**5.2%**) to **$2.1 billion**[146](index=146&type=chunk) - Operational performance for Q2 2025 compared to Q2 2024 showed strong improvement: - Net income increased by **$2.3 million** (**68.1%**) to **$5.6 million** - Net interest income grew by **$4.3 million** (**25.6%**) to **$21.2 million** - Net interest margin expanded to **3.54%** from **3.06%**[146](index=146&type=chunk) [Net Interest Income](index=40&type=section&id=Net%20Interest%20Income) Net interest income significantly increased in H1 2025 due to favorable rate and volume changes, expanding net interest margin to 3.54% Net Interest Margin Analysis | Metric | Q2 2025 | Q2 2024 | 6 Months 2025 | 6 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Yield on Interest-Earning Assets | 6.89% | 6.98% | 6.86% | 6.94% | | Cost of Interest-Bearing Liabilities | 3.96% | 4.60% | 3.98% | 4.55% | | Net Interest Spread | 2.93% | 2.38% | 2.88% | 2.39% | | **Net Interest Margin** | **3.54%** | **3.06%** | **3.50%** | **3.08%** | - For Q2 2025 vs Q2 2024, the **$4.3 million** increase in net interest income was driven by a **$2.5 million** positive impact from rate changes and a **$1.8 million** positive impact from volume changes, with the primary driver being a **significant decrease in interest expense on deposits due to lower rates**[158](index=158&type=chunk)[160](index=160&type=chunk)[162](index=162&type=chunk) [Asset Quality and Balance Sheet](index=43&type=section&id=Asset%20Quality%20and%20Balance%20Sheet) Balance sheet grew to $2.5 billion, fueled by loan growth, while asset quality slightly weakened with non-performing assets rising to 2.14% - The provision for credit losses increased by **$1.1 million** in Q2 2025 and **$3.5 million** in the first six months of 2025 compared to the prior year periods, driven by provisioning for loan growth, charge-offs, and adjustments for macro-economic uncertainty[168](index=168&type=chunk)[169](index=169&type=chunk) Non-Performing Assets (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total nonaccrual loans and leases | $50,534 | $45,125 | | Other real estate owned (OREO) | $719 | $159 | | Repossessed assets | $2,429 | $117 | | **Total non-performing assets** | **$53,682** | **$45,401** | | Non-performing assets to total assets | 2.14% | 1.90% | - The increase in non-performing loans to **$50.5 million** was primarily due to risk rating downgrades in the SBA and residential mortgage portfolios, partially offset by a **$4.7 million** decline in non-performing commercial loans following foreclosures[187](index=187&type=chunk) - Total deposits grew by **$105.0 million** (**5.2%**) since year-end 2024, with a notable shift from noninterest-bearing deposits (down **$3.8 million**) to interest-bearing deposits (up **$108.8 million**) as customers sought higher yields[182](index=182&type=chunk) [Capital and Liquidity](index=46&type=section&id=Capital%20and%20Liquidity) The Corporation maintains a strong capital and liquidity position, with stockholders' equity at $178.0 million and robust capital ratios Bank Capital Ratios | Ratio | June 30, 2025 | Well-Capitalized Minimum | | :--- | :--- | :--- | | Tier 1 leverage ratio | 9.32% | 5.00% | | Common tier 1 risk-based capital ratio | 10.53% | 6.50% | | Tier 1 risk-based capital ratio | 10.53% | 8.00% | | Total risk-based capital ratio | 11.54% | 10.00% | - The company has access to significant liquidity sources, including a maximum borrowing capacity of **$710.4 million** with the FHLB and **$56.0 million** in unsecured federal funds lines[194](index=194&type=chunk) - A quarterly cash dividend of **$0.125** per common share was declared on July 24, 2025[184](index=184&type=chunk) [Item 3 Quantitative and Qualitative Disclosures about Market Risk](index=50&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Market risk, primarily interest rate risk, is managed using simulation models to assess impact on Net Interest Income and Economic Value of Equity Net Interest Income (NII) Sensitivity Analysis | Change in Market Interest Rates (over 12 months) | % Change in NII (June 30, 2025) | | :--- | :--- | | +300 basis points | 0.39% | | +200 basis points | 0.49% | | +100 basis points | 0.39% | | -100 basis points | (0.54)% | | -200 basis points | (0.93)% | Economic Value of Equity (EVE) Sensitivity Analysis | Instantaneous Change in Market Interest Rates | % Change in EVE (June 30, 2025) | | :--- | :--- | | +300 basis points | 6% | | +200 basis points | 6% | | +100 basis points | 4% | | -100 basis points | (7)% | | -200 basis points | (19)% | [Item 4 Controls and Procedures](index=52&type=section&id=Item%204%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control - The CEO and CFO concluded that the Corporation's **disclosure controls and procedures were effective as of June 30, 2025**[217](index=217&type=chunk) - There were **no changes in internal control over financial reporting** during the quarter ended June 30, 2025, that have materially affected, or are reasonably likely to materially affect, the Corporation's internal controls[218](index=218&type=chunk) [PART II OTHER INFORMATION](index=52&type=section&id=PART%20II%20OTHER%20INFORMATION) [Item 1 Legal Proceedings](index=52&type=section&id=Item%201%20Legal%20Proceedings) The Corporation reported no legal proceedings during the period - There are **no legal proceedings to report**[220](index=220&type=chunk) [Item 1A Risk Factors](index=52&type=section&id=Item%201A%20Risk%20Factors) No material changes to risk factors have occurred since the filing of the 2024 Form 10-K - **No material changes in risk factors have occurred** since the filing of the 2024 Form 10-K[220](index=220&type=chunk) [Item 2, 3, 4, 5 Other Information](index=52&type=section&id=Item%202,%203,%204,%205%20Other%20Information) The Corporation reported no unregistered sales of equity securities, no defaults upon senior securities, or other material information - The company reports **'None' for Unregistered Sales of Equity Securities, Defaults Upon Senior Securities, and Other Information**, and Mine Safety Disclosures are not applicable[221](index=221&type=chunk) [Item 6 Exhibits](index=53&type=section&id=Item%206%20Exhibits) This section provides an index of exhibits filed with the report, including certifications and XBRL data files

Core Insights - The partnership between Meridian Health Plan of Michigan and the Centene Foundation aims to enhance access to fresh food and improve health outcomes in rural southwest Michigan through a $1 million grant to the Food Bank Council of Michigan [1][8] - The initiative focuses on addressing food insecurity, which is linked to diet-sensitive chronic diseases, by implementing a two-phased program that includes upgrading food pantries and establishing a fresh food pharmacy [2][5] Phase One Summary - Phase One will upgrade two existing food pantries to become Nourish MI Pantries, which will provide fresh, nutritious food and support health and equity partnerships [2][3] - The upgraded pantries will implement food as medicine interventions and receive technological support for future In Lieu of Services (ILOS) implementation [4] - The initiative aims to strengthen local food access and build capacity for ILOS operations for participating Medicaid health plans [4] Phase Two Summary - Phase Two, starting in 2026, will designate and upgrade five additional Nourish MI Pantries and fund the Fresh Food Pharmacy program at Grace Health [5] - The Fresh Food Pharmacy will assist eligible patients with diet-sensitive chronic conditions in accessing nutritious food and health education [5] Context of Food Insecurity - Over 1.4 million people in Michigan face food insecurity, with more than 378,000 being children, particularly affecting rural communities with limited access to grocery stores [6] - The partnership aims to address the root causes of health disparities and improve overall health outcomes in these communities [2][8] Organizational Background - Meridian Health Plan of Michigan provides managed care services primarily through Medicaid and is part of Centene Corporation [9] - The Centene Foundation focuses on investing in economically challenged communities and improving health equity [10] - The Food Bank Council of Michigan leads efforts to end hunger in the state by advocating for policies and providing resources to food banks [11]

Core Viewpoint - Meridian Corporation reported strong financial performance for the second quarter of 2025, with significant increases in net income and pre-provision net revenue, driven by improved margins and strong loan sales [2][5][7]. Financial Performance - Net income for Q2 2025 was $5.6 million, or $0.49 per diluted share, representing a 133% increase from the previous quarter [5][30]. - Pre-provision net revenue (PPNR) rose to $11.1 million, up 57% from Q2 2024 [5][30]. - The net interest margin improved to 3.54%, with loan yield increasing to 7.24% [5][30]. Loan and Deposit Growth - Loan growth for the quarter was 2.5%, with management forecasting an annual growth rate of 8-10% [2][5]. - Total assets remained stable at $2.5 billion, with portfolio loans growing by $36.2 million, or 1.7% quarter-over-quarter [19][20]. - Total deposits decreased by $18.4 million, or 0.9%, primarily due to a decline in non-interest bearing deposits [22][23]. Non-Interest Income - Total non-interest income increased by $4.0 million, or 54.1%, driven by a significant rise in mortgage banking income and SBA loan income [15][16]. - Mortgage banking income reached $5.8 million, a 69.8% increase from the previous quarter [15][16]. Non-Interest Expense - Total non-interest expense rose by $2.6 million, or 13.9%, with notable increases in salaries and employee benefits [18][30]. - Salaries and employee benefits increased by $1.8 million, reflecting the hiring of additional staff [18]. Asset Quality - Non-performing loans decreased by $1.7 million to $50.5 million, improving the ratio of non-performing loans to total loans to 2.35% [24][26]. - Net charge-offs increased to $3.6 million, or 0.17% of total average loans, compared to 0.14% in the previous quarter [25][30]. Capital and Equity - Total stockholders' equity increased by $4.5 million to $178.0 million, supported by net income and dividends paid [23][30]. - The Community Bank Leverage Ratio was reported at 9.32% as of June 30, 2025 [23][30].

[Q2 2025 Financial Highlights](index=1&type=section&id=Q2%202025%20Financial%20Highlights) [Overview of Q2 2025 Performance](index=1&type=section&id=Overview%20of%20Q2%202025%20Performance) Meridian Corporation's Q2 2025 net income surged to **$5.6 million**, a **133% increase**, driven by improved net interest margin and strong loan sales Key Financial Highlights (Dollars in thousands) | (Dollars in thousands, except per share data) | Three Months Ended June 30, 2025 | Three Months Ended March 31, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | | **Net income** | $ 5,592 | $ 2,399 | $ 3,326 | | **Diluted earnings per common share** | $ 0.49 | $ 0.21 | $ 0.30 | | **Pre-provision net revenue (PPNR)** | $ 11,090 | $ 8,357 | $ 7,072 | - CEO Christopher J. Annas highlighted that the strong Q2 earnings were driven by improving margin, SBA loan sales, and mortgage seasonality. PPNR increased **33%** quarter-over-quarter, reflecting healthy business growth and good expense control[2](index=2&type=chunk) - Management is intensely focused on reducing nonperforming loans, though the process is expected to be slow. The company forecasts annual loan growth in the **8-10%** range[2](index=2&type=chunk) - Business unit performance was solid, with Meridian Wealth Partners reporting pre-tax income of **$604 thousand** and the mortgage team showing a significant turnaround from the first quarter despite low housing inventory[3](index=3&type=chunk) [Dividend Declaration](index=1&type=section&id=Dividend%20Declaration) The Board of Directors declared a quarterly cash dividend of **$0.125** per common share, payable in August 2025 - A quarterly cash dividend of **$0.125** per common share was declared on July 24, 2025, payable on August 18, 2025, to shareholders of record as of August 11, 2025[4](index=4&type=chunk) [Financial Performance Analysis (Q2 2025 vs. Q1 2025)](index=3&type=section&id=Financial%20Performance%20Analysis%20(Q2%202025%20vs.%20Q1%202025)) [Income Statement Analysis](index=3&type=section&id=Income%20Statement%20Analysis) Net income for Q2 2025 surged by **$3.2 million (133.1%)** to **$5.6 million**, driven by improved net interest income and reduced credit loss provision - The **$3.2 million (133.1%)** quarter-over-quarter increase in net income was driven by improvements in net interest income (+$1.4 million), a lower provision for credit losses (-$1.4 million), and higher non-interest income (+$4.0 million)[7](index=7&type=chunk) [Net Interest Income](index=4&type=section&id=Net%20Interest%20Income) Net interest income grew by **$1.4 million** QoQ, with net interest margin expanding by **8 basis points** to **3.54%**, driven by increased earning assets - The net interest margin increased by **8 basis points** to **3.54%** in Q2 2025, as the yield on earning assets increased and the cost of funds declined[13](index=13&type=chunk) - Interest income increased by **$2.0 million** QoQ, mainly due to a **$74.7 million** increase in average interest-earning assets, which contributed **$1.7 million** to the rise[10](index=10&type=chunk) - Average total loans grew by **$73.6 million**, led by increases in commercial, commercial real estate, and construction loans[11](index=11&type=chunk) - Interest expense rose by **$660 thousand** due to higher volumes of deposits and borrowings, but the overall cost of deposits dropped by **5 basis points**[12](index=12&type=chunk) [Provision for Credit Losses](index=4&type=section&id=Provision%20for%20Credit%20Losses) The provision for credit losses decreased by **$1.4 million** to **$3.8 million** in Q2 2025, due to lower non-performing loans and slower loan growth - The provision for credit losses decreased from **$5.2 million** in Q1 2025 to **$3.8 million** in Q2 2025, due to a decline in non-performing loans, a decrease in required specific reserves, and lower loan growth during the quarter[14](index=14&type=chunk) [Non-interest Income](index=5&type=section&id=Non-interest%20Income) Non-interest income significantly rose by **$4.0 million (54.1%)** to **$11.3 million**, driven by improved mortgage banking and SBA loan income Non-interest Income (Dollars in thousands) | (Dollars in thousands) | Q2 2025 | Q1 2025 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Mortgage banking income | $ 5,762 | $ 3,393 | $ 2,369 | 69.8% | | SBA loan income | $ 1,988 | $ 748 | $ 1,240 | 165.8% | | Net gain (loss) on sale of MSRs | $ 467 | $ (52) | $ 519 | (998.1)% | | **Total non-interest income** | **$ 11,288** | **$ 7,324** | **$ 3,964** | **54.1%** | - SBA loan income increased by **$1.2 million** as the volume of SBA loans sold rose by **$27.4 million** to **$39.5 million** for the quarter[16](index=16&type=chunk) [Non-interest Expense](index=5&type=section&id=Non-interest%20Expense) Non-interest expense increased by **$2.6 million (13.9%)** to **$21.4 million**, primarily due to higher salaries and benefits Non-interest Expense (Dollars in thousands) | (Dollars in thousands) | Q2 2025 | Q1 2025 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Salaries and employee benefits | $ 13,179 | $ 11,385 | $ 1,794 | 15.8% | | Professional fees | $ 1,164 | $ 763 | $ 401 | 52.6% | | Advertising and promotion | $ 1,277 | $ 779 | $ 498 | 63.9% | | Occupancy and equipment | $ 1,037 | $ 1,338 | $ (301) | (22.5)% | | **Total non-interest expense** | **$ 21,357** | **$ 18,743** | **$ 2,614** | **13.9%** | [Balance Sheet Analysis](index=6&type=section&id=Balance%20Sheet%20Analysis) Total assets slightly decreased by **$18.0 million** to **$2.5 billion**, primarily due to a cash reduction, despite growth in portfolio loans - Total assets decreased by **$18.0 million (0.7%)** to **$2.5 billion**, primarily due to an **$84.7 million** decrease in cash after a temporary deposit of **$103 million** was withdrawn[18](index=18&type=chunk) - Portfolio loans grew by **$36.2 million (1.7%)**, led by a **$32.0 million** increase in commercial & industrial loans, partially offset by a **$16.4 million** decrease in SBA loan balances due to sales[19](index=19&type=chunk) - Total deposits decreased by **$18.4 million (0.9%)**, as an **$86.4 million** decline in non-interest bearing deposits was largely offset by a **$68.1 million** increase in interest-bearing deposits[20](index=20&type=chunk) - Total stockholders' equity increased by **$4.5 million** to **$178.0 million**, driven by net income of **$5.6 million** less dividends paid of **$1.4 million**[21](index=21&type=chunk) [Asset Quality](index=6&type=section&id=Asset%20Quality) Asset quality improved as non-performing loans decreased by **$1.7 million** to **$50.5 million**, lowering the NPL to total loans ratio to **2.35%** - Non-performing loans decreased by **$1.7 million** to **$50.5 million** at June 30, 2025, improving the ratio of non-performing loans to total loans to **2.35%** from **2.49%**[22](index=22&type=chunk) - Net charge-offs increased to **$3.6 million (0.17% of total average loans)** for Q2 2025, compared to **$2.8 million (0.14%)** in the previous quarter, mainly from SBA loans and equipment leases[23](index=23&type=chunk) - The allowance for credit losses to total loans held for investment was **1.00%**, relatively flat from the prior quarter, with specific reserves decreasing by **$1.7 million** to **$3.3 million**[24](index=24&type=chunk) [Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Consolidated%20Financial%20Statements%20(Unaudited)) [Select Condensed Financial Information](index=3&type=section&id=Select%20Condensed%20Financial%20Information) This section provides a five-quarter overview of key financial data, highlighting Q2 2025 net income of **$5.6 million** as a significant recovery Select Condensed Financial Information (Dollars in thousands) | (Dollars in thousands) | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Net income** | $ 5,592 | $ 2,399 | $ 5,600 | $ 4,743 | $ 3,326 | | **Total assets** | $ 2,510,938 | $ 2,528,888 | $ 2,385,867 | $ 2,387,721 | $ 2,351,584 | | **Loans, net** | $ 2,108,250 | $ 2,071,675 | $ 2,030,437 | $ 2,008,396 | $ 1,988,535 | | **Total deposits** | $ 2,110,374 | $ 2,128,742 | $ 2,005,368 | $ 1,978,927 | $ 1,915,436 | | **Stockholders' equity** | $ 178,020 | $ 173,568 | $ 171,522 | $ 167,450 | $ 162,382 | | **Return on average assets** | 0.90 % | 0.40 % | 0.92 % | 0.80 % | 0.58 % | | **Return on average equity** | 12.68 % | 5.57 % | 13.01 % | 11.41 % | 8.25 % | [Financial Ratios](index=9&type=section&id=Financial%20Ratios) This section presents detailed performance, asset quality, and capital ratios, showing improvements in net interest margin to **3.54%** and efficiency ratio to **65.82%** Key Financial Ratios | Ratio | Jun 30, 2025 | Mar 31, 2025 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | | **Return on average assets** | 0.90 % | 0.40 % | 0.58 % | | **Return on average equity** | 12.68 % | 5.57 % | 8.25 % | | **Net interest margin (tax-equivalent)** | 3.54 % | 3.46 % | 3.06 % | | **Efficiency ratio** | 65.82 % | 69.16 % | 72.89 % | | **Non-performing loans to total loans** | 2.35 % | 2.49 % | 1.84 % | | **Book value per common share** | $ 15.76 | $ 15.38 | $ 14.51 | [Condensed Consolidated Statements of Income](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Presents detailed income statements for Q2 2025 and Q2 2024, showing Q2 2025 net income of **$5.6 million** Condensed Consolidated Statements of Income (Dollars in thousands) | (Dollars in thousands) | Three Months Ended Jun 30, 2025 | Three Months Ended Jun 30, 2024 | Six Months Ended Jun 30, 2025 | Six Months Ended Jun 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net interest income** | $ 21,159 | $ 16,846 | $ 40,935 | $ 33,455 | | **Provision for credit losses** | $ 3,803 | $ 2,680 | $ 9,015 | $ 5,546 | | **Total non-interest income** | $ 11,288 | $ 9,244 | $ 18,612 | $ 17,228 | | **Total non-interest expense** | $ 21,357 | $ 19,018 | $ 40,100 | $ 37,192 | | **Net income** | $ 5,592 | $ 3,326 | $ 7,991 | $ 6,002 | | **Diluted EPS** | $ 0.49 | $ 0.30 | $ 0.70 | $ 0.54 | [Condensed Consolidated Statements of Condition (Balance Sheet)](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Condition%20(Balance%20Sheet)) Details assets, liabilities, and equity, showing **$2.51 billion** in total assets and **$178.0 million** in stockholders' equity as of June 30, 2025 Condensed Consolidated Statements of Condition (Dollars in thousands) | (Dollars in thousands) | Jun 30, 2025 | Mar 31, 2025 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | | **Total assets** | $ 2,510,938 | $ 2,528,888 | $ 2,351,584 | | Cash and cash equivalents | $ 50,174 | $ 131,225 | $ 24,058 | | Loans, net of allowance | $ 2,087,399 | $ 2,050,848 | $ 1,966,832 | | **Total liabilities** | $ 2,332,918 | $ 2,355,320 | $ 2,189,202 | | Total deposits | $ 2,110,374 | $ 2,128,742 | $ 1,915,436 | | **Total stockholders' equity** | $ 178,020 | $ 173,568 | $ 162,382 | [Segment Information](index=13&type=section&id=Segment%20Information) Breaks down financial performance by Bank, Wealth, and Mortgage segments, with the Bank segment contributing **$5.2 million** to pre-tax income in Q2 2025 Segment Performance (Dollars in thousands) | (dollars in thousands) | Bank | Wealth | Mortgage | Total | | :--- | :--- | :--- | :--- | :--- | | **Three Months Ended June 30, 2025** | | | | | | Net interest income | $ 21,025 | $ 63 | $ 71 | $ 21,159 | | Non-interest income | $ 3,029 | $ 1,492 | $ 6,767 | $ 11,288 | | Non-interest expense | $ 15,049 | $ 951 | $ 5,357 | $ 21,357 | | **Income before income taxes** | **$ 5,202** | **$ 604** | **$ 1,481** | **$ 7,287** | | **Three Months Ended June 30, 2024** | | | | | | **Income before income taxes** | **$ 3,171** | **$ 676** | **$ 545** | **$ 4,392** | [Appendix: Non-GAAP Measures](index=15&type=section&id=Appendix%3A%20Non-GAAP%20Measures) [Pre-Provision Net Revenue (PPNR) Reconciliation](index=15&type=section&id=Pre-Provision%20Net%20Revenue%20(PPNR)%20Reconciliation) Reconciles income before income tax expense to PPNR, showing Q2 2025 PPNR of **$11.1 million**, a significant increase from the prior quarter Pre-Provision Net Revenue (PPNR) Reconciliation (Dollars in thousands) | (Dollars in thousands) | Three Months Ended Jun 30, 2025 | Three Months Ended Mar 31, 2025 | Three Months Ended Jun 30, 2024 | | :--- | :--- | :--- | :--- | | Income before income tax expense | $ 7,287 | $ 3,145 | $ 4,392 | | Provision for credit losses | $ 3,803 | $ 5,212 | $ 2,680 | | **Pre-provision net revenue** | **$ 11,090** | **$ 8,357** | **$ 7,072** | [Tangible Capital & Book Value Reconciliations](index=15&type=section&id=Tangible%20Capital%20%26%20Book%20Value%20Reconciliations) Reconciles GAAP measures to non-GAAP tangible counterparts, showing a tangible common equity to tangible assets ratio of **6.96%** and tangible book value per common share of **$15.44** Tangible Capital & Book Value Reconciliations | (Corporation) | Jun 30, 2025 | Mar 31, 2025 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | | **Tangible common equity to tangible assets ratio** | 6.96 % | 6.73 % | 6.76 % | | **Tangible book value per common share** | $ 15.44 | $ 15.06 | $ 14.17 |

Group 1: Maternity Healthcare Challenges - In Illinois, 34.3% of counties are classified as maternity healthcare deserts, requiring residents to travel between 47 and 59 miles to reach a birthing hospital [1] - Many rural hospitals in Illinois have closed their labor and delivery units, exacerbating the issue of maternity care deserts [3] Group 2: OSF OnCall Connect Program - The OSF OnCall Connect program aims to provide pregnancy and postpartum care to women on Medicaid in Central Illinois, particularly in underserved counties [2][3] - The program includes a mobile clinic that will offer prenatal and postpartum services, including sonograms, lab work, vaccinations, and blood pressure monitoring [1][3] Group 3: Operational Details - The mobile unit is set to begin operations in July 2025, with eligible patients able to self-enroll or be referred by their healthcare provider [3] - The OSF OnCall Connect team will assist with program enrollment and scheduling appointments for the mobile clinic [3] Group 4: Services Offered - Services provided by the mobile clinic include education and information for each week of pregnancy, regular check-ins, 24/7 virtual access to a care team, blood pressure monitoring, lab work, screening for postpartum depression, and breastfeeding support [8]

Core Viewpoint - Meridian Mining UK S has reported significant drilling results from its Cabaçal Au-Cu-Ag VMS project, indicating the presence of multiple stacked layers of high-grade Au-Cu-Ag ore, which are expected to enhance the project's overall resource quality and density modeling as the DFS infill drilling program approaches completion [3][5][6]. Group 1: Drilling Results - The recent drilling results include CD-702, which returned 28.6m at 3.5g/t AuEq (2.6% CuEq) from 127.6m, with notable high-grade intervals [3][7][10]. - Additional intersections include multiple high-grade copper zones with peak grades of 11.0% Cu and 10.6% Cu, indicating strong mineralization potential [7][11]. - The ongoing drill program is focused on the first five-year production area, with results expected to improve grade and density modeling for the Cabaçal DFS [6][9]. Group 2: Exploration Licenses and New Targets - The company has been granted two exploration licenses, opening up the Alvorada target for modern exploration, which has shown promising historical copper anomalies [4][13]. - The Alvorada target has a peak copper-in-stream geochemical value of 164ppm Cu, surpassing previous anomalies in the Cabaçal and Santa Helena areas [13]. - The company is mobilizing staff to commence land access agreements for the newly granted areas, indicating a strategic expansion of exploration efforts [13][16]. Group 3: Cabaçal Project Development - The Cabaçal project has a pre-production capital cost of USD 248 million, with an after-tax NPV5 of USD 984 million and an IRR of 61.2%, highlighting its economic viability [27][30]. - The project is expected to produce 141,000 ounces of gold equivalent over its life, driven by high metallurgical recovery and low operating costs [30]. - The company is advancing its DFS program, including shipping diamond core samples to SGS Canada for metallurgical studies, which will aid in refining the project's development strategy [25][26].