Mortgage Snafu Forces Pa. Bank to Disclose Material Weakness
American Banker, May 16, 2019–Ken McCarthy (subscription)
Meridian Corp. in Malvern, Pa., disclosed that it originated loans in a neighboring state where it lacked a license. As a result, the $1 billion-asset parent of Meridian Bank might have breached sales agreements for $98 million in loans dating back to 2012.
