Welcome to our dedicated page for Mid Penn Bancorp news (Ticker: MPB), a resource for investors and traders seeking the latest updates and insights on Mid Penn Bancorp stock.
Mid Penn Bancorp, Inc. (NASDAQ: MPB) is a well-established financial institution headquartered in Millersburg, Pennsylvania, with a rich history dating back to 1868. As the parent company of Mid Penn Bank, it has been a cornerstone of financial services in central Pennsylvania, serving communities with dedication and integrity.
With a wide network of retail locations, Mid Penn Bank operates across Cumberland, Dauphin, Lancaster, Luzerne, Northumberland, and Schuylkill counties. The bank offers a comprehensive suite of financial products and services designed to meet the diverse needs of individuals, businesses, and governmental entities.
Key Services:
- Deposit Products: Mid Penn Bank provides a variety of deposit accounts, including savings, checking, money market accounts, and certificates of deposit.
- Loan Services: The bank offers mortgage loans, home equity loans, commercial loans, lines of credit, and construction financing.
- Consumer Loans: Both secured and unsecured loans are available to meet personal financial needs.
- Cash Management: A range of cash management services is tailored for businesses to efficiently manage their cash flow.
Mid Penn Bancorp also engages in trust business, providing fiduciary services and estate planning to help customers secure their financial future. As a community-focused bank, Mid Penn Bank is a proud supporter of various nonprofit organizations, contributing to the social and economic development of the central Pennsylvania region.
Recent Achievements:
- Mid Penn Bancorp has reported solid financial performance, with significant growth in non-PPP core banking loans and an impressive return on average tangible common equity.
- The company's efficiency ratio highlights its commitment to operational effectiveness.
- Adjusted earnings per common share have shown positive trends, excluding non-recurring expenses, indicating financial stability and growth.
For the latest news and updates on Mid Penn Bancorp, including detailed financial highlights and unaudited consolidated statements of income, visit their website at midpennbank.com.
Mid Penn Bancorp (NASDAQ: MPB) and Brunswick Bancorp (OTCMPK: BRBW) have announced the successful approval of their proposed merger following the special shareholder meetings held on April 25, 2023. Over 99% of Brunswick shareholders and more than 97% of Mid Penn shareholders voted in favor of the merger. This strategic acquisition aims to enhance Mid Penn's market presence and support its growth objectives, expanding its footprint into Central New Jersey. Post-merger, Mid Penn is expected to hold around $5 billion in assets. The merger is slated for completion in Q2 2023, contingent on various closing conditions.
Mid Penn Bancorp (NASDAQ: MPB) has appointed Mr. Bruce A. Kiefer to its Board of Directors, effective March 10, 2023. Mr. Kiefer brings extensive experience from his long tenure at The Hershey Company, where he has managed various scientific and managerial roles. He oversees critical systems in his current position and holds a bachelor’s degree in chemistry and a master’s degree in food science. The company's leadership expressed confidence in Mr. Kiefer's abilities to enhance the board, given his professional credentials and community involvement. Mid Penn Bancorp operates in 17 counties in Pennsylvania, with total assets exceeding $4.5 billion.
Mid Penn Bancorp, Inc. (NASDAQ: MPB) reported fourth-quarter 2022 net income of $15.7 million, or $0.99 per share, a 1.5% increase from Q3 2022. Loans and leases grew 22.9% annualized. The tax-equivalent net interest margin decreased to 3.80% from 3.92% Q3 2022 but increased from 3.16% year-over-year. Total assets rose to $4.4 billion, a 27% increase YoY. For the year, net income reached $54.8 million, a record for Mid Penn, with dividend declarations of $0.20 per share. The firm also announced a merger with Brunswick Bancorp, valued at approximately $53.9 million. This acquisition aims to expand Mid Penn's footprint in New Jersey.
Mid Penn Bancorp to Acquire Brunswick Bancorp
Mid Penn Bancorp (NASDAQ: MPB) announced a merger agreement to acquire Brunswick Bancorp for approximately $53.9 million. This acquisition, unanimously approved by both boards, will expand Mid Penn's market presence in central New Jersey, adding five financial centers and creating a combined entity with around $5.0 billion in assets. Brunswick's shareholders will receive a mix of cash and Mid Penn stock. The merger is subject to regulatory approvals and is expected to close in Q2 2023.
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