Malvern-Based Meridian Bank Expands into City

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Meridian Bank CEO Chris Annas mingles at a Bucks County Business Association event. Image via Meridian Bank.

Propelled by fast-paced momentum toward the milestone of $1 billion in assets, Meridian Bank is now poised to cross over from the suburbs to the city, and cash in on opportunities downtown.

Meridian Bank is working on setting up a new branch on Market Street, where Salad Works used to be.

And CEO Chris Annas envisions wide windows filled with televisions reporting financial news in the middle of Philly’s business district and near Rittenhouse Square, according to a Philadelphia Business Journal report by Jeff Blumenthal.

Since launching in 2004, Malvern-headquartered Meridian has expanded from Paoli to Media, West Chester, Doylestown, and Blue Bell.

The 1,700 square feet in Philly would build on that, and tap connections there that its lending team already has.

“We’re looking to push retail and corporate deposits, but we also liked the central location,” Annas said. “That’s why we picked those county seats like Media, West Chester, and Doylestown for branches. Even if people don’t live there, they are 10 minutes away and go there often to shop, go out to dinner, or work.

“Same with the Philadelphia location. People walk by there all the time.”

Meridian anticipates the new Philly branch could be ready to open this summer.

Read more about the expansion plans in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of Meridian Bank here.


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