Prime Meridian Bank

What Prime Meridian Bank does

Prime Meridian Bank is a Florida-based community bank founded in 2009 and headquartered in Tallahassee, with a second branch in Crawfordville. The bank serves retail consumers and small businesses in North Florida and the Florida Panhandle, offering business checking and savings accounts, home mortgages, small business loans, and home equity loans — a standard community-banking product set with no disclosed proprietary technology, mobile app, or digital platform of its own. It operated a traditional brick-and-mortar distribution model with 51-100 employees.

Prime Meridian's business model is conventional community banking: it earns revenue from net interest income on its deposit and loan portfolio, supplemented by standard banking fees. The customer base is geographically concentrated in the Tallahassee and Crawfordville corridors, segmented horizontally rather than by vertical. The company held an OTC listing (otcqx:PMHG) prior to the announced change of control, but no public trading data, investor composition, or detailed financials were disclosed in the input.

The defining strategic event is the pending acquisition by MIDFLORIDA Credit Union (Lakeland, FL), which received regulatory approval with the deal expected to close March 1, 2026. The transaction brings the combined organization to approximately $10 billion in assets and over 500,000 members, with Prime Meridian's customer base gaining access to MIDFLORIDA's 66+ branches and digital banking tools following a late April 2026 system conversion. All Prime Meridian employees are being retained.

Name

Prime Meridian Bank

Legal name

Prime Meridian Bank

Website

https://primemeridianbank.com

Company type

Private

Founded year

2009

Operating status

Acquired

Headcount range

51–100 employees

Short description

Prime Meridian Bank is a Tallahassee, Florida community bank offering business checking, savings, mortgages, and small business loans to retail and SMB customers in North Florida, pending acquisition by MIDFLORIDA Credit Union in March 2026.

Ownership category

akta.pro rank

Headquarters

HQ city

Tallahassee

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Traditional Banking Services: Prime Meridian Bank operates as a community bank providing standard banking services including deposits, loans, and related financial products to retail and commercial customers in North Florida.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Prime Meridian Bank is a community bank providing business checking and savings accounts, home mortgages, small business loans, and home equity loans to customers in the Tallahassee and Crawfordville, Florida area. The bank delivers traditional deposit-taking and lending services through its physical branch locations in North Florida. Following the pending acquisition by MIDFLORIDA Credit Union, customers will gain access to the acquirer's broader branch network and digital banking tools.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Checking and Savings Accounts Business deposit accounts including checking and savings products designed for small businesses and commercial customers in the Tallahassee and Crawfordville markets.
• Home Mortgages Residential mortgage loans for home purchases and refinancing, offered to individual consumers and homeowners in the bank's North Florida service area.
• Small Business Loans Loans targeted at small business borrowers in the local market, supporting commercial lending needs of regional business owners.
• Home Equity Loans Home equity loan products for homeowners seeking to borrow against the equity in their residences, served through the bank's branch network.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• MIDFLORIDA Credit UnioncoreStrategic or Co-development Partner · 1 March 2026MIDFLORIDA Credit Union has received regulatory approval to acquire Prime Meridian Bank. The transaction is expected to close on March 1, 2026. The acquisition will expand MIDFLORIDA's statewide presence, bringing it closer to $10 billion in assets and over 500,000 members. All Prime Meridian Bank employees will be retained, and Prime Meridian customers will gain access to MIDFLORIDA's full branch network and digital banking tools following a late April system conversion. This represents a significant expansion of MIDFLORIDA's presence across North Florida and the Panhandle.

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• First Atlantic Bank: Florida community bank providing business and personal banking products including deposits, loans, and mortgages to small businesses and consumers in similar Florida markets.
• First Federal Bank of Florida: Florida-chartered community bank providing deposit, mortgage, and consumer lending products to households and small businesses across North and Central Florida markets.
• Capital City Bank Group: Tallahassee-headquartered Florida community bank operating branches across North Florida and the Panhandle, directly competing with Prime Meridian in the same geography with comparable deposit and small business lending products.
• Bank of Central Florida: Florida community bank offering commercial and consumer banking services, including mortgages and small business loans, with a similar community-bank operating model.
• Seacoast Banking Corporation of Florida: Florida-based community and regional bank offering deposit, mortgage, and small business lending products across the state, with overlapping market presence in North Florida.
• BayFirst National Bank: Florida-based community bank serving consumers and small businesses with deposit, mortgage, and commercial loan products, comparable in size and footprint to Prime Meridian.
• Cogent Bank: Florida-focused community bank providing business and consumer banking, including commercial lending and treasury services, competing for similar small business and consumer customers.
• Florida Capital Bank: Florida-based community bank offering traditional deposit, lending, and mortgage products to consumers and small businesses, similar in scale and operating model to Prime Meridian.

Broad incumbents

• SouthState Corporation: Large Southeast regional bank with significant Florida presence following the CenterState merger, offering a full suite of banking products to consumers and businesses across markets where Prime Meridian operates.

Others

• MidFlorida Credit Union: Acquirer of Prime Meridian Bank; a not-for-profit Florida credit union offering deposit, mortgage, consumer, and business banking products to members statewide, providing direct comparability of product mix and member services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/trymybank
• Facebookfacebook.com/trymybank

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prime Meridian Bank