Mid Penn Bancorp, Inc. and William Penn Bancorporation Receive Shareholder Approvals for Merger
Mid Penn Bancorp (NASDAQ: MPB) and William Penn Bancorporation (NASDAQ: WMPN) have received overwhelming shareholder approval for their proposed merger, with over 96% of William Penn shares and 98% of Mid Penn shares voting in favor of the transaction.
The strategic merger will expand Mid Penn's presence in the Greater Philadelphia Metro market, Southeastern Pennsylvania, and Central and Southern New Jersey. Upon completion of the merger, Mid Penn is projected to reach $6.3 billion in assets on a pro forma basis.
Mid Penn Bancorp (NASDAQ: MPB) e William Penn Bancorporation (NASDAQ: WMPN) hanno ricevuto un'approvazione schiacciante da parte degli azionisti per la loro fusione proposta, con oltre il 96% delle azioni di William Penn e il 98% delle azioni di Mid Penn che hanno votato a favore della transazione.
La fusione strategica espanderà la presenza di Mid Penn nel mercato metropolitano della Grande Philadelphia, nella Pennsylvania sudorientale e nel New Jersey centrale e meridionale. Al termine della fusione, si prevede che Mid Penn raggiunga 6,3 miliardi di dollari in attività su base pro forma.
Mid Penn Bancorp (NASDAQ: MPB) y William Penn Bancorporation (NASDAQ: WMPN) han recibido una abrumadora aprobación de los accionistas para su fusión propuesta, con más del 96% de las acciones de William Penn y el 98% de las acciones de Mid Penn votando a favor de la transacción.
La fusión estratégica ampliará la presencia de Mid Penn en el mercado metropolitano de Filadelfia, el sureste de Pennsylvania y el centro y sur de Nueva Jersey. Al completar la fusión, se proyecta que Mid Penn alcanzará 6.3 mil millones de dólares en activos en una base pro forma.
미드 펜 뱅코프 (NASDAQ: MPB)와 윌리엄 펜 뱅코포레이션 (NASDAQ: WMPN)은 제안된 합병에 대해 압도적인 주주 승인을 받았으며, 윌리엄 펜의 주식 96% 이상과 미드 펜의 주식 98%가 거래에 찬성 투표를 했습니다.
이 전략적 합병은 미드 펜의 필라델피아 대도시 시장, 펜실베이니아 남동부, 그리고 뉴저지 중부 및 남부 지역에서의 존재감을 확대할 것입니다. 합병 완료 후, 미드 펜은 63억 달러의 자산에 도달할 것으로 예상됩니다.
Mid Penn Bancorp (NASDAQ: MPB) et William Penn Bancorporation (NASDAQ: WMPN) ont obtenu une approbation écrasante des actionnaires pour leur fusion proposée, avec plus de 96 % des actions de William Penn et 98 % des actions de Mid Penn votant en faveur de la transaction.
Cette fusion stratégique élargira la présence de Mid Penn sur le marché métropolitain de Philadelphie, dans le sud-est de la Pennsylvanie et dans le centre et le sud du New Jersey. Une fois la fusion achevée, Mid Penn devrait atteindre 6,3 milliards de dollars d'actifs sur une base pro forma.
Mid Penn Bancorp (NASDAQ: MPB) und William Penn Bancorporation (NASDAQ: WMPN) haben eine überwältigende Zustimmung der Aktionäre für ihre vorgeschlagene Fusion erhalten, wobei über 96% der William Penn-Aktien und 98% der Mid Penn-Aktien für die Transaktion gestimmt haben.
Die strategische Fusion wird die Präsenz von Mid Penn im Großraum Philadelphia, im Südosten von Pennsylvania sowie im zentralen und südlichen New Jersey erweitern. Nach Abschluss der Fusion wird erwartet, dass Mid Penn 6,3 Milliarden Dollar an Vermögenswerten auf einer pro forma-Basis erreichen wird.
- Strong shareholder support with 96%+ approval from both companies
- Strategic expansion into attractive Greater Philadelphia Metro market
- Significant asset growth to $6.3 billion post-merger
- Enhanced market presence in Southeastern PA and Central/Southern NJ
- None.
“The level of support for this transaction was tremendous,” Mid Penn President and CEO Rory G. Ritrievi said. “Of the total number of votes received, over
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
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 satisfy any of the 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, 2024, 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