The cleat looks like original factory work, probably done to reinforce the center seam. It is a feature of some 1920's Martins.
The bridgeplate is 3 ply laminated, with what appears to be maple on the outside layers and lauan in the center.
Laminated bridgeplates are common on 1960's Gibsons and 1970's Japanese guitars. Never a good idea, IMHO.
The plate can be repaired in place, or replaced altogether.
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