Comparing the current results to its competitors, Meridian Bancorp Inc reported Revenue increase in the 3 quarter 2019 by 7.88 % year on year. The sales growth was above Meridian Bancorp Inc 's competitors' average revenue growth of 2.14 %, achieved in the same quarter.
Meridian Bancorp Inc 's Comment on Competition and Industry Peers
We face significant competition for the attraction of deposits and origination
of loans. Our most direct competition for deposits has historically come from
the many financial institutions operating in our market area and, to a lesser
extent, from other financial service companies such as brokerage firms and insurance
companies. Several large holding companies operate banks in our market area.
These institutions are significantly larger than us and, therefore, have greater
resources. We also face competition for investors’ funds from money market
funds, mutual funds and other corporate and government securities. Based on
data from the Federal Deposit Insurance Corporation as of June 30, 2015 (the
latest date for which information is available), the Bank had 0.78% of the deposit
market share within the Boston-Cambridge-Quincy, Massachusetts — New Hampshire
metropolitan statistical area, giving us the 16th largest market share in our
metropolitan statistical area out of 139 financial institutions in our metropolitan
statistical area as of that date.
Our competition for loans comes from financial institutions in our market area
and from other financial service providers, such as mortgage companies and mortgage
brokers. Competition for loans also comes from the increasing number of non-depository
financial service companies entering the mortgage market, such as insurance
companies, securities companies and specialty finance companies. Some of our
competitors offer products and services that we do not offer, such as insurance
services, trust services, wealth management and asset-based financing.
With revenue growth of 7.88 % within Overall company, Meridian Bancorp Inc achieved improvement in market share, within Overall company to approximately 0.03 %. << More on EBSB Market Share.
*Market share is calculated based on total revenue.
Peoples Financial Services Corp operates as a holding company, primarily engaged in providing banking and financial services through its subsidiary banks. It earns revenue by offering various banking products, loans, investment services, and other financial solutions to individuals and small to medium-sized businesses.
Norwood Financial Corp is a banking company that primarily focuses on providing various financial services to individuals, businesses, and institutions. Their business model centers around generating revenue through interest income from loans, fees from deposit accounts, and offering other banking products and services to their customers.
National Bankshares Inc operates as the holding company for National Bank, providing banking services to individuals, businesses, and organizations in its local communities. The company primarily generates revenues through interest income from loans and investments, as well as service charges and fees related to its deposit and lending products. National Bankshares Inc aims to maintain a strong and stable financial position by offering competitive banking solutions and fostering long-term relationships with its customers.
MVB Financial Corp operates as a financial holding company that provides a range of banking products and services. It primarily focuses on serving business customers, including small and medium-sized businesses, through its various banking subsidiaries.
M&T Bank Corporation operates as a regional bank, offering a variety of financial services including commercial and retail banking, mortgage lending, and wealth management to both individual and business customers. The company focuses on building long-term relationships and delivering personalized service to enhance customer satisfaction and loyalty.
Sources:
Meridian Bancorp Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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