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Meridian Corp. delays 10-Q filing

Malvern, Pa.-based Meridian Corp. filed a notice of late filing with respect to its Form 10-Q for the quarter ended March 31.

The company needs more time to evaluate if there is a need to make certain accounting adjustments related to licensing of mortgage lending in Maryland by the mortgage division of its unit Meridian Bank.

This licensing matter relates to approximately 400 loans over the past eight years, 300 of which appear to remain outstanding.

As a result, Meridian requires more time to finalize the consolidated financial statements and related disclosures for the quarter.