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MRBK • CIK 0001750735
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Interest and Fee Income, Loans and Leases | $130,081 | $147,157 | $155,987 | $157,203 |
| Interest Income, Securities, Operating, Taxable | $3,873 | $5,739 | $7,271 | $7,463 |
| Interest Income, Securities, Operating, Tax Exempt | $1,369 | $1,283 | $1,256 | $1,292 |
| Interest Income (Expense), Net | $68,942 | $70,996 | $87,678 | $92,736 |
| Provision for Loan, Lease, and Other Losses | $6,815 | $11,400 | $15,152 | $16,598 |
| Interest and Dividend Income, Operating | $136,589 | $156,027 | $166,314 | $167,427 |
| Interest Income (Expense), after Provision for Loan Loss | $62,127 | $59,596 | $72,526 | $76,138 |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $16,967 | $21,786 | $28,402 | $28,037 |
| Income Tax Expense (Benefit) | $3,724 | $5,440 | $6,566 | $6,379 |
| Net Income (Loss) Attributable to Parent | $13,243 | $16,346 | $21,836 | $21,658 |
| Weighted Average Number of Shares Outstanding, Basic | 11,115,000 | 11,113,000 | 11,326,000 | 11,946,000 |
| Weighted Average Number of Shares Outstanding, Diluted | 11,387,000 | 11,243,000 | 11,538,000 | 12,286,000 |
| Interest Expense, Deposits | $57,819 | $74,037 | $68,169 | $64,972 |
| Interest Expense, Borrowings | $9,828 | $10,994 | $10,467 | $9,719 |
| InterestExpenseOperating | — | $85,031 | $78,636 | $74,691 |
| Fees and Commissions, Mortgage Banking and Servicing | $16,537 | $21,044 | $20,783 | $22,251 |
| Revenue from Contract with Customer, Excluding Assessed Tax | $4,928 | $5,735 | $6,316 | $6,724 |
| Bank Owned Life Insurance Income | $789 | $868 | $956 | $1,011 |
| Gain (Loss) on Sale of Mortgage Loans | — | $3,992 | $403 | $-171 |
| Derivative, Gain (Loss) on Derivative, Net | $91 | $30 | $373 | $171 |
| Gain (Loss) on Sale of Derivatives | $28 | $-87 | $-151 | $-119 |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | $-58 | $-57 | $501 | $501 |
| Noninterest Income, Other Operating Income | $5,001 | $5,850 | $4,012 | $3,904 |
| Noninterest Income | $31,965 | $41,339 | $39,180 | $37,488 |
| Labor and Related Expense | $47,377 | $47,268 | $51,280 | $52,295 |
| Occupancy, Net | $4,842 | $5,976 | $4,576 | $4,556 |
| Professional Fees | $4,312 | $4,767 | $4,095 | $4,306 |
| Marketing and Advertising Expense | $3,730 | $3,293 | $3,877 | $3,830 |
| Other Noninterest Expense | $7,520 | $10,729 | $11,429 | $11,783 |
| Noninterest Expense | $77,125 | $79,149 | $83,304 | $85,589 |
| Other Income | $122 | — | — | $122 |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $15,360 | $17,626 | $24,699 | $23,612 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Cash and Due from Banks | $10,067 | $5,598 | $10,358 | $11,209 |
| Interest-bearing Deposits in Banks and Other Financial Institutions | $46,630 | $21,864 | $25,420 | $24,998 |
| Cash, Cash Equivalents, and Federal Funds Sold | $56,697 | $27,462 | $35,778 | $36,207 |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $146,019 | $174,304 | $193,457 | $200,552 |
| Liabilities and Equity | $2,246,193 | $2,385,867 | $2,561,995 | $2,593,176 |
| DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss | $35,781 | $33,771 | $32,544 | $32,445 |
| Equity Securities, FV-NI | $2,121 | $2,086 | $2,166 | $2,146 |
| Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | $24,816 | $32,413 | $33,762 | $54,898 |
| FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss | $1,895,806 | $2,030,437 | $2,170,600 | $2,177,978 |
| FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest | $22,107 | $18,438 | $21,573 | $21,463 |
| FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss | $1,873,699 | $2,011,999 | $2,149,027 | $2,156,515 |
| Restricted Investments | $8,072 | $7,753 | $7,811 | $7,484 |
| Property, Plant and Equipment, Net | $13,557 | $12,151 | $12,402 | $12,437 |
| Bank Owned Life Insurance | $28,844 | $29,712 | $30,687 | $31,205 |
| Interest Receivable | $9,325 | $9,958 | $10,724 | $10,680 |
| Other Real Estate and Foreclosed Assets | — | — | $5,997 | $6,081 |
| Deferred Income Tax Assets, Net | $4,201 | $4,669 | $4,215 | $4,535 |
| Servicing Asset at Amortized Cost | $11,748 | $4,382 | $3,932 | $3,642 |
| Goodwill | $899 | $899 | $899 | $899 |
| Intangible Assets, Net (Excluding Goodwill) | $2,971 | $2,767 | $2,563 | $2,461 |
| Other Assets | $25,740 | $31,382 | $36,031 | $30,989 |
| Subordinated Debt | $49,836 | $49,743 | $49,853 | $49,705 |
| Interest Payable | $10,324 | $6,860 | $6,531 | $5,587 |
| Other Liabilities | $29,653 | $27,903 | $30,429 | $30,604 |
| Liabilities | $2,088,171 | $2,214,345 | $2,362,279 | $2,388,366 |
| Common Stock, Value, Outstanding | — | $13,243 | $13,830 | $13,927 |
| Additional Paid in Capital | $80,325 | $81,545 | $90,352 | $91,137 |
| Treasury Stock, Value | $26,079 | $26,079 | $26,079 | $26,079 |
| Unearned ESOP Shares | $1,204 | $1,006 | $1,232 | $1,232 |
| Retained Earnings (Accumulated Deficit) | $101,216 | $111,961 | $128,124 | $132,614 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $-9,422 | $-8,142 | $-5,279 | $-5,557 |
| Stockholders' Equity Attributable to Parent | $158,022 | $171,522 | $199,716 | $204,810 |
| Noninterest-bearing Deposit Liabilities | $239,289 | $240,858 | $245,377 | $246,357 |
| Interest-bearing Deposit Liabilities | $1,584,173 | $1,764,510 | $1,912,751 | $1,948,081 |
| Deposits | $1,823,462 | $2,005,368 | $2,158,128 | $2,194,438 |
| DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss | $156,492 | $183,764 | $199,127 | $206,888 |
| Debt Securities, Held-to-maturity, Fair Value | $32,730 | $30,492 | $30,152 | $30,117 |
| Common Stock, Shares Authorized | 25,000,000 | 25,000,000 | 25,000,000 | 25,000,000 |
| Common Stock, Shares, Issued | 13,186,198 | 13,243,258 | 13,829,645 | 13,926,981 |
| Common Stock, Shares, Outstanding | 11,183,015 | 11,240,075 | 11,826,462 | 11,923,798 |
| Treasury Stock, Common, Shares | 2,003,183 | 2,003,183 | 2,003,183 | 2,003,183 |
| Defined Contribution Plan, Cost | $1,000 | $905 | $1,000 | $1,000 |
| Employee Stock Ownership Plan (ESOP), Compensation Expense | $858 | $799 | $918 | $918 |
| Off-Balance Sheet, Credit Loss, Liability | $1,000 | $817 | $976 | $976 |
| Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP | — | — | 29,253 | 29,253 |
| Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | — | — | 159,936 | 159,936 |
| Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares | 93,296 | 133,280 | 135,877 | 135,877 |
| Employee Stock Ownership Plan (ESOP), Shares in ESOP | 610,735 | 608,624 | 483,205 | 483,205 |
| Financing Receivable, Credit Loss, Expense (Reversal) | $508 | $500 | $510 | $510 |
| Short-term Debt | $141,224 | $98,632 | $106,744 | $108,032 |
| Common Stock, Value, Issued | $13,186 | — | — | $13,189 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $13,243 | $16,346 | $21,836 | $21,658 |
| Net Cash Provided by (Used in) Operating Activities | $18,854 | $9,597 | $24,298 | $20,159 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $18,306 | $-29,235 | $8,316 | $-13,967 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | — | — | $35,778 | $-67,178 |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | $-58 | $-57 | $501 | $501 |
| Accretion (Amortization) of Discounts and Premiums, Investments | $-2,429 | $-3,991 | $-1,738 | $-868 |
| Provision for Loan, Lease, and Other Losses | $6,815 | $11,400 | $15,152 | $16,598 |
| Amortization of Debt Issuance Costs | $87 | $122 | $123 | $124 |
| Share-based Payment Arrangement, Noncash Expense | $1,173 | $976 | $1,189 | $1,101 |
| Increase (Decrease) in Derivative Assets and Liabilities | $91 | $30 | $373 | $171 |
| Increase (Decrease) in Loans Held-for-sale | $32 | $-25 | $310 | $-156 |
| Gain (Loss) on Sale of Mortgage Loans | — | $3,992 | $403 | $-171 |
| Gains (Losses) on Sales of Other Real Estate | — | $317 | $15 | $0 |
| Increase (Decrease) in Accrued Interest Receivable, Net | $1,962 | $633 | $766 | $346 |
| Gain (Loss) on Termination of Lease | — | $-1,097 | $0 | $0 |
| Increase (Decrease) in Other Operating Assets | $2,021 | $4,559 | $6,885 | $5,818 |
| Deferred Income Tax Expense (Benefit) | $-234 | $-799 | $-373 | $242 |
| Increase (Decrease) in Interest Payable, Net | $7,935 | $-3,464 | $-329 | $-1,472 |
| Increase (Decrease) in Other Operating Liabilities | $-1,278 | $-760 | $3,142 | $4,425 |
| Proceeds from Sale of Other Real Estate | — | $1,861 | $15 | $0 |
| Proceeds from Sale of Mortgage Servicing Rights (MSR) | — | $9,877 | $1,382 | $880 |
| Proceeds from Sale of Finance Receivables | — | — | $122,721 | $89,668 |
| Increase (Decrease) of Restricted Investments | $1,141 | $-319 | $58 | $-1,678 |
| Payments for (Proceeds from) Loans and Leases | $152,576 | $147,269 | $270,698 | $221,016 |
| Payments to Acquire Property, Plant, and Equipment | $1,823 | $568 | $1,732 | $1,538 |
| Payment to Acquire Life Insurance Policy, Investing Activities | $0 | — | $19 | $19 |
| Proceeds from Sale of Property, Plant, and Equipment | — | — | $40 | $40 |
| Net Cash Provided by (Used in) Investing Activities | $-164,185 | $-164,996 | $-163,902 | $-89,123 |
| Increase (Decrease) in Deposits | $110,983 | $181,906 | $152,760 | $84,064 |
| Proceeds from (Repayments of) Short-term Debt, Maturing in More than Three Months | $28,077 | $-42,592 | $8,112 | $-5,882 |
| Proceeds from (Repayments of) Secured Debt | — | — | $-15,245 | $-24,180 |
| Repayments of Subordinated Debt | $328 | $215 | $13 | $211 |
| Payments of Dividends | $5,614 | $5,601 | $5,673 | $6,176 |
| Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised | $309 | $499 | $885 | $1,159 |
| Proceeds from Issuance of Common Stock | — | — | $7,519 | $7,519 |
| Net Cash Provided by (Used in) Financing Activities | $163,637 | $126,164 | $147,920 | $54,997 |
| Real Estate Owned, Transfer to Real Estate Owned | $0 | — | $3,592 | $2,873 |
| Real Estate Owned, Transfer from Real Estate Owned | — | — | $2,405 | $-4 |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $9,652 | $19,824 | $19,019 | $25,758 |
| Proceeds from Sale of Debt Securities, Available-for-sale | $13,514 | $16,004 | $14,365 | $14,365 |
| Payments to Acquire Debt Securities, Available-for-sale | $33,211 | $66,764 | $49,937 | $50,601 |
| Proceeds from Sale and Maturity of Held-to-maturity Securities | $1,400 | $1,720 | $3,000 | $2,001 |
| Payments to Acquire Held-to-maturity Securities | $0 | — | $2,000 | $2,000 |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $59,712 | $88,495 | $78,965 | $76,163 |
| IncomeTaxPaidFederalAfterRefundReceived | — | — | $10,224 | $6,714 |
| IncomeTaxPaidStateAndLocalAfterRefundReceived | — | — | $989 | $945 |
| Income Taxes Paid | $3,104 | $3,083 | $11,213 | $7,659 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $56,697 | $27,462 | — | $135,660 |