Mid Penn Bancorp, Inc. Reauthorizes and Expands Treasury Stock Repurchase Program
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn" or the "Corporation"), the parent company of Mid Penn Bank and MPB Financial Services, LLC, is pleased to announce the reauthorization and expansion of its treasury stock repurchase program, which now accommodates up to an additional $50 million in repurchase activity.
On April 21, 2026, the Board of Directors of Mid Penn (the "Board") approved the renewal of the Corporation's treasury stock repurchase program through April 30, 2027, as well as an increase in the number of shares available for future repurchases under the program. As modified, the repurchase program authorizes the Corporation to repurchase up to an additional $50 million of Corporation common stock, from time to time. The shares may be purchased in open market or private transactions, including pursuant to Rule 10b5-1 trading plans, at the discretion of management and subject to the limitations of applicable securities laws.
"This reauthorization and expansion of our treasury stock repurchase program reflects the Board's firm commitment to driving shareholder value," Mid Penn Chair, President and CEO Rory G. Ritrievi said. "While our priority remains investing in organic growth, this authorization provides the Board with another tool to support that commitment when appropriate."
The repurchase program may be modified, suspended or terminated at any time, without prior notice. Repurchases, if any, will be made in the Corporation's discretion based upon a number of factors, including liquidity, market conditions, the availability of alternative investment opportunities and other factors the Corporation deems appropriate. The repurchase program does not obligate the Corporation to repurchase any shares.
About Mid Penn Bancorp, Inc.
Mid Penn Bancorp Inc. (NASDAQ:MPB), headquartered in Harrisburg, Pennsylvania, is the parent company of Mid Penn Bank, a full-service commercial bank. Mid Penn operates 62 retail locations throughout Pennsylvania and central and southern New Jersey, has total assets of approximately $7 billion, and offers a comprehensive portfolio of financial products and services to the communities it serves. To learn more, please visit www.midpennbank.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Forward-looking statements include information about the Corporation's future financial performance, business strategy, projected plans and objectives and are based on the current beliefs and expectations of management. The Corporation's management believes these forward-looking statements are reasonable, but they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond the Corporation's control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Prospective investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties and, accordingly, investors should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.
For a more detailed description of these and other factors which would affect our results, please see Mid Penn's filings with the Securities and Exchange Commission (SEC), including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn assumes no obligation for updating any such forward-looking statements at any time, except as required by law.
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Jennifer Trautlein
717-914-6577
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