COMP <GO>

OPBK vs MRBK // EV/EBITDA & P/E VALUATION

OP Bancorp (NASDAQ) VS. Meridian Corporation (NASDAQ) • 15-METRIC TALLY: OPBK 6 — MRBK 2

■ METRIC PARITY

LAST: $15.44 (+0.98%) • MKT CAP: $230.6M

valuation

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LAST: $19.02 (+0.32%) • MKT CAP: $226.9M

valuation

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (OPBK VS. MRBK) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	OPBK	MRBK	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	11.20%	10.90%	+0.30	OPBK	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	10.13%	9.95%	+0.18	OPBK	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	68.00%	68.00%	0.00	TIE	/net-margins <GO>
Revenue Growth (YoY)	-1.70%	10.10%	-11.80	MRBK	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	3.09%	2.50%	+0.59	OPBK	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	5/9	6/9	-1.00	MRBK	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	50.6	46.4	+4.19	OPBK	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	8.4x	9.7x	-1.30	OPBK	/forward-pe <GO>
Enterprise Scale & Market Cap	$230.6M	$226.9M	$3.7M	OPBK	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	OPBK REV	MRBK REV	OPBK GROSS %	MRBK GROSS %	OPBK FCF	MRBK FCF
FY 2025	$3.2M	$6.3M	—	—	$23.4M	$22.6M
FY 2024	$3.3M	$5.7M	—	—	$29.7M	$9.0M
FY 2023	$2.1M	$4.9M	—	—	$67.8M	$18.9M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

OPBK // BETA —

MRBK // BETA —