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Meridian Bancorp, Inc. Announces Record Quarterly Net Income of $24 Million

Meridian Bancorp, Inc. Announces Record Quarterly Net Income of $24 Million
BOSTON, April 22, 2021 (GLOBE NEWSWIRE) Meridian Bancorp, Inc. (the “Company” or “Meridian”) (NASDAQ: EBSB), the holding company for East Boston Savings Bank (the “Bank”), announced net income of $24.3 million, or $0.48 per diluted share, for the quarter ended March 31, 2021, compared to $18.1 million, or $0.36 per diluted share for the quarter ended December 31, 2020, and $13.0 million, or $0.25 per diluted share, for the quarter ended March 31, 2020. The Company’s return on average assets was 1.46% for the quarter ended March 31, 2021, compared to 1.10% for the quarter ended December 31, 2020, and 0.82% for the quarter ended March 31, 2020. The Company’s return on average equity was 12.45% for the quarter ended March 31, 2021, compared to 9.51% for the quarter ended December 31, 2020, and 7.09% for the quarter ended March 31, 2020. ....

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Meridian Bancorp, Inc. Announces 25% Increase in Quarterly Dividend and New Stock Repurchase Program

Meridian Bancorp, Inc. Announces 25% Increase in Quarterly Dividend and New Stock Repurchase Program
BOSTON, Feb. 24, 2021 (GLOBE NEWSWIRE) Meridian Bancorp, Inc. (the “Company” or “Meridian”) (NASDAQ: EBSB), the holding company for East Boston Savings Bank, today declared a quarterly cash dividend of $0.10 per common share, an increase of $0.02 per common share, or 25%, payable on April 1, 2021 to stockholders of record at the close of business on March 18, 2021. The Company also announced that it has adopted a new stock repurchase program for up to 1,000,000 shares, or approximately 1.9% of its outstanding common stock.
Richard J. Gavegnano, Chairman, President and Chief Executive Officer of the Company, said, “Consistent with our commitment to enhancing stockholder value, our Board of Directors approved this stock repurchase program and 25% increase in our dividend, to an annualized rate of $0.40 per share, based on our expected earnings trends and continued ....

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