Mid Penn Bancorp, Inc. and William Penn Bancorporation Receive Regulatory Approvals for Merger
“We are pleased to have received regulatory approval of our merger that supports our growth objectives, complements our franchise, and propels long-term shareholder value,” Mid Penn President and CEO Rory G. Ritrievi said. “Mid Penn and William Penn continue to work collectively towards a second-quarter closing of this transaction and are meeting timelines and milestones as expected.”
The merger will further extend Mid Penn’s footprint into the attractive
About Mid Penn Bancorp, Inc.
Mid Penn Bancorp Inc. (NASDAQ: MPB), headquartered in
About William Penn Bancorporation
William Penn Bancorporation (NASDAQ: WMPN), headquartered in
Important Additional Information and Where to Find It
The proposed merger will be submitted to the shareholders of William Penn and Mid Penn for their consideration and approval. In connection with the proposed transaction, Mid Penn has filed with the
Free copies of the Registration Statement and the Joint Proxy/Prospectus, and the filings with the SEC that are incorporated by reference in the Joint Proxy/Prospectus, as well as other filings containing information about Mid Penn and William Penn, may be obtained at the SEC’s website (http://www.sec.gov). You will also be able to obtain these documents, when they are filed, free of charge, by directing a request to Mid Penn Bancorp, Inc., 2407 Park Drive,
Participants in the Solicitation
Mid Penn, William Penn and their respective directors, executive officers, and certain other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Mid Penn or William Penn in connection with the proposed merger transaction under the rules of the SEC. Information about Mid Penn’s directors and executive officers is available in its proxy statement for its 2024 annual meeting of shareholders, which was filed with the SEC on March 28, 2024, and other documents filed by Mid Penn with the SEC. Information regarding William Penn’s directors and executive officers is available in its proxy statement for its 2024 annual meeting of shareholders, which was filed with the SEC on October 11, 2024, and other documents filed by William Penn with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the Joint Proxy/Prospectus and other relevant materials filed with the SEC, which may be obtained free of charge as described in the preceding paragraph.
This document is not an offer to sell shares of Mid Penn’s securities which may be issued in the proposed transaction. Such securities are offered only by means of the Joint Proxy/Prospectus referred to above.
Safe Harbor for Forward-Looking Statements
This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. . Forward-looking statements are based on, among other things, Mid Penn management’s and William Penn management’s beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy and Mid Penn and William Penn. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements may include expectations relating to the anticipated opportunities and financial and other benefits of the business combination transaction between Mid Penn and William Penn, and the projections of, or guidance on, Mid Penn’s or the combined company’s future financial performance, asset quality, liquidity, capital levels, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in Mid Penn’s business or financial results. Mid Penn and William Penn caution readers that forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among other things, the following possibilities: the occurrence of any event, change or other circumstance that could give risk to the right of one or both of the parties to terminate the definitive merger agreement entered into between Mid Penn and William Penn; the outcome of any legal proceedings that may be instituted against Mid Penn or William Penn; the failure to obtain shareholder approvals or to satisfy any of the other conditions to the business combination transaction on a timely basis or at all; the possibility that the anticipated benefits of the business combination transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Mid Penn and William Penn do business; the possibility that the business combination transaction may be more expensive to complete than anticipated; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the business combination transaction; changes in Mid Penn’s share price before the closing of the business combination transaction; risks relating to the potential dilutive effect of shares of Mid Penn common stock to be issued in the business combination transaction; and other facts that may affect future results of Mid Penn, William Penn and the combined company. Additional factors that could cause results to differ materially can be found in the “Risk Factors” section of the Registration Statement and Joint Proxy/Prospectus, as well as in Mid Penn’s Annual Report on Form 10-K for the year ended December 31, 2025, William Penn’s Annual Report for the year ended June 30, 2024, and in other documents that Mid Penn and William Penn file with the SEC, which are available at the SEC’s website at www.sec.gov.
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Mid Penn Bancorp, Inc.
Jennifer Trautlein
jen.trautlein@midpennbank.com
717-914-6577
William Penn Bancorporation
Kenneth J. Stephon
856-656-2201, ext. 1009
Source: Mid Penn Bancorp