Mid Penn Bancorp, Inc. operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs. It also provides a range of loan products comprising mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development loans, loans to non-profit entities, and local government loans. In addition, the company offers online banking, telephone banking, cash management, and automated teller services, as well as safe deposit boxes; and trust and wealth management services. As of December 31, 2020, it operated thirty-six full service retail banking locations in Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill, and Westmoreland counties, Pennsylvania. The company was founded in 1868 and is headquartered in Millersburg, Pennsylvania.
IPO Year:
Exchange: NASDAQ
Website: midpennbank.com
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Piper Sandler upgraded Mid Penn Bancorp from Neutral to Overweight and set a new price target of $30.00 from $27.00 previously
Stephens & Co. initiated coverage of Mid Penn Bancorp with a rating of Overweight and set a new price target of $30.00
Mid Penn Bancorp, Inc. ("Mid Penn" or the "Company") (NASDAQ:MPB), the parent company of Mid Penn Bank, announced today that it has completed its underwritten public offering of 2,375,000 shares of common stock at a price of $29.50 per share. The aggregate gross proceeds of the offering were $70 million. The net proceeds of the offering after deducting the underwriting discount and other estimated offering expenses are expected to be approximately $67 million. The Company intends to use the net proceeds of the offering to support its continued growth, including investments in Mid Penn Bank to support organic growth, potential redemption of subordinated debt, future strategic transactions, a
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn" or the "Company") today announced the pricing of its public offering of 2,375,000 shares of its common stock (the "common stock"), at a price to the public of $29.50 per share, for an aggregate offering amount of $70 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 356,250 shares of common stock at the public offering price, less underwriting discounts. Stephens Inc. acted as lead book-running manager for the offering, and Piper Sandler & Co. acted as joint book-running manager for the offering. The Company expects that the net proceeds of the offering will be approximately $67 mi
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn") and William Penn Bancorporation ("William Penn") (NASDAQ:WMPN) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which William Penn will merge with and into Mid Penn (the "Merger") in an all-stock transaction valued at approximately $127 million, based on Mid Penn's closing stock price as of October 30, 2024. The Merger has been approved unanimously by each company's board of directors and is expected to close in the first half of 2025. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of Mid
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended September 30, 2024 of $12.3 million, or $0.74 per diluted common share, compared to net income of $9.2 million, or $0.56 per diluted common share, for the third quarter of 2023 and a consensus analyst estimate of $0.72 per diluted common share for the third quarter of 2024. Key Highlights of the Third Quarter of 2024: Net income available to common shareholders increased 33.2% to $12.3 million, or $0.74 per diluted common share, for the third quarter of 2024, compar
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2024, of $11.8 million, or $0.71 per diluted common share, compared to net income of $4.8 million, or $0.29 per diluted common share, for the second quarter of 2023 and consensus estimate of $0.60 per diluted common share. Key Highlights of the Second Quarter of 2024: Net income available to common shareholders increased 143.4% to $11.8 million, or $0.71 per diluted common share, for the second quarter of 2024, compared to net income of $4.8 million, or $
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended March 31, 2024, of $12.1 million, or $0.73 per diluted common share, versus analyst consensus of $0.61 per share. Key Highlights of the First Quarter of 2024: Loan growth for the first quarter of 2024 was $64.7 million, or 6.1% (annualized). Total loans increased $706.1 million compared to the first quarter of 2023. Excluding the Brunswick loans of $324.5 million acquired in 2023, organic loan growth for the quarter ended March 31, 2024, from the quarter ended Mar
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended December 31, 2023, of $12.1 million, or $0.73 per diluted common share. Key Highlights of the Fourth Quarter of 2023: Net income available to common shareholders increased 31.0% to $12.1 million, or $0.73 per diluted common share for the fourth quarter of 2023, compared to net income of $9.2 million, or $0.56 per diluted common share for the third quarter of 2023. Return on average assets was 0.92% and return on average equity was 8.93% for the quarter ended De
Mid Penn Bank (the "Bank"), a wholly-owned subsidiary of Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), announces the promotion of Jordan D. Space to president of the private bank and chief operating officer of the company, effective January 12, 2024. Space replaces Justin Webb as chief operating officer, who was recently appointed chief financial officer. Space joined the Bank in 2022 and was responsible for the establishment of the private bank. In his new role, Space will oversee loan and deposit operations groups as well as the credit and credit administration functions. He will also provide an integrated approach to all aspects of the Bank's noninterest income growth, such as the
Mid Penn Bank (the "Bank"), a wholly-owned subsidiary of Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), is pleased to announce the promotion of Scott Micklewright to president of the commercial and consumer bank and chief revenue officer of the company. In this capacity, Micklewright will oversee all aspects of commercial and consumer banking including loan activity, deposit activity, cash management, interchange and credit card revenue, as well as the regional team structure. Mid Penn Bank President and CEO Rory Ritrievi expressed his enthusiasm about Micklewright's new position, stating, "Scott has an outstanding record of success at Mid Penn, and we are thrilled to promote him to pr
Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), the parent company of Mid Penn Bank (the "Bank"), announces the appointment of Justin T. Webb as chief financial officer, effective January 8, 2024. Webb has been an integral part of the Bank since 2012, having served most recently as senior executive vice president and chief operating officer. Mid Penn Chair, President, and CEO Rory G. Ritrievi commented, "I could not be more pleased to announce Justin's appointment as the CFO of Mid Penn Bancorp, Inc. and Mid Penn Bank. We are fortunate to have someone of Justin's caliber and experience already within the Bank and ready to take on this role. His experience with the company is deep as he
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Mid Penn Bancorp (NASDAQ:MPB) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.60 by 13.33 percent. This is unchanged from the same period last year.
What is a Value Stock? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. The following stocks are considered to be notable value stocks in the financial services sector: Crescent Capital BDC (NASDAQ:CCAP) - P/E: 7.19 Mid Penn Bancorp (NASDAQ:MPB) - P/E: 8.93 Orrstown Finl Servs (NASDAQ:ORRF) - P/E: 7.74 Orange County Bancorp (NASDAQ:OBT) - P/E: 8.79
Piper Sandler analyst Frank Schiraldi maintains Mid Penn Bancorp (NASDAQ:MPB) with a Overweight and lowers the price target from $27 to $26.
Mid Penn Bancorp (NASDAQ:MPB) reported its Q4 earnings results on Friday, January 26, 2024 at 09:28 AM. Here's what investors need to know about the announcement. Earnings Mid Penn Bancorp beat estimated earnings by 23.73%, reporting an EPS of $0.73 versus an estimate of $0.59. Revenue was down $3.17 million from the same period last year. Past Earnings Performance Last quarter the company missed on EPS by $0.05 which was followed by a 2.74% increase in the share price the next day. Here's a look at Mid Penn Bancorp's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.62 0.67 0.88 0.97 EPS Actual 0.57 0.68 0.71 0.99 Revenue Estimate 42.11M 41.17M 44.65M 45.82
Mid Penn Bancorp (NASDAQ:MPB) reported adjusted quarterly earnings of $0.73 per share which beat the analyst consensus estimate of $0.59 by 23.73 percent. This is a 26.26 percent decrease over earnings of $0.99 per share from the same period last year. The company reported quarterly sales of $42.12 million which missed the analyst consensus estimate of $42.51 million by 0.92 percent. This is a 7.01 percent decrease over sales of $45.29 million the same period last year.
Mid Penn Bank (the "Bank"), a wholly-owned subsidiary of Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), announces the promotion of Jordan D. Space to president of the private bank and chief operating officer of the company, effective January 12, 2024. Space replaces Justin Webb as chief operating officer, who was recently appointed chief financial officer. Space joined the Bank in 2022 and was responsible for the establishment of the private bank. In his new role, Space will oversee loan and deposit operations groups as well as the credit and credit administration functions. He will also provide an integrated approach to all aspects of the Bank's noninterest income growth, such as the Pr
Although U.S. stocks closed lower on Wednesday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform. Tilly's The Trade: Tilly's, Inc. (NYSE:TLYS) Pleasant Lake Partners LLC acquired a total of 27,000 shares an average price
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended September 30, 2024 of $12.3 million, or $0.74 per diluted common share, compared to net income of $9.2 million, or $0.56 per diluted common share, for the third quarter of 2023 and a consensus analyst estimate of $0.72 per diluted common share for the third quarter of 2024. Key Highlights of the Third Quarter of 2024: Net income available to common shareholders increased 33.2% to $12.3 million, or $0.74 per diluted common share, for the third quarter of 2024, compar
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2024, of $11.8 million, or $0.71 per diluted common share, compared to net income of $4.8 million, or $0.29 per diluted common share, for the second quarter of 2023 and consensus estimate of $0.60 per diluted common share. Key Highlights of the Second Quarter of 2024: Net income available to common shareholders increased 143.4% to $11.8 million, or $0.71 per diluted common share, for the second quarter of 2024, compared to net income of $4.8 million, or $
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended March 31, 2024, of $12.1 million, or $0.73 per diluted common share, versus analyst consensus of $0.61 per share. Key Highlights of the First Quarter of 2024: Loan growth for the first quarter of 2024 was $64.7 million, or 6.1% (annualized). Total loans increased $706.1 million compared to the first quarter of 2023. Excluding the Brunswick loans of $324.5 million acquired in 2023, organic loan growth for the quarter ended March 31, 2024, from the quarter ended Mar
Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended December 31, 2023, of $12.1 million, or $0.73 per diluted common share. Key Highlights of the Fourth Quarter of 2023: Net income available to common shareholders increased 31.0% to $12.1 million, or $0.73 per diluted common share for the fourth quarter of 2023, compared to net income of $9.2 million, or $0.56 per diluted common share for the third quarter of 2023. Return on average assets was 0.92% and return on average equity was 8.93% for the quarter ended De
HARRISBURG, Pa., Oct. 25, 2023 (GLOBE NEWSWIRE) -- October 25, 2023 – Harrisburg, PA – Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended September 30, 2023, of $9.2 million, or $0.56 per diluted common share. Key Highlights of the Third Quarter of 2023 Organic loan growth for the third quarter of 2023 was $111.1 million, or 10.9% (annualized), from the second quarter of 2023. Organic deposit growth for the quarter ended September 30, 2023 was $94.9 million, or 8.8% (annualized), from the second quarter of 2023. C
HARRISBURG, Pa., July 27, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2023, of $4.8 million, or $0.29 per diluted common share. Adjusted net income excluding non-recurring expenses(1) for the second quarter 2023 was $11.1 million and adjusted earnings per share common share excluding non-recurring expenses was $0.68, which excluded $6.3 million of after-tax merger-related expenses. Key Highlights of the Second Quarter of 2023 Completed the acquisition of Brunswick Bancorp ("B
HARRISBURG, Pa., April 28, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended March 31, 2023 of $11.2 million, or $0.71 and $0.70 per common share basic and diluted, respectively. "As our shareholders analyze our first quarter performance, they will find that we grew our loans at an 11.2% (annualized) pace and our deposits at a 10.7% (annualized) pace. Those growth rates would be considered exceptional in any quarter. However, with the failures of Silicon Valley Bank of California, Signature
HARRISBURG, Pa., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended December 31, 2022 of $15.7 million, or $0.99 per common share basic and diluted. Key Highlights in the Fourth Quarter of 2022 Earnings increased $238 thousand to $15.7 million, or 1.5%, for the quarter ended December 31, 2022 compared to $15.5 million for the quarter ended September 30, 2022.Tax equivalent net interest margin was 3.80% compared to 3.92% in the prior quarter and 3.16% in the fourth quarter of 2021.Lo
HARRISBURG, Pa., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended September 30, 2022 of $15.5 million, or $0.97 per common share basic and diluted. Key Highlights in the Third Quarter of 2022 Earnings increased $3.2 million to $15.5 million, or 26.4%, for the quarter ended September 30, 2022 compared to $12.3 million for the quarter ended June 30, 2022.Tax equivalent net interest margin increased 47 basis points ("bp") to 3.92% from 3.45% in the prior quarter.Organic loans grew 17
HARRISBURG, Pa., July 27, 2022 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (NASDAQ:MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2022 of $12.3 million, or $0.77 per common share basic and diluted. Key Highlights in the Second Quarter of 2022 Earnings increased $898 thousand and $0.06 per common share diluted to $12.3 million, or $0.77, respectively, for the quarter ended June 30, 2022 compared to the quarter ended March 31, 2022.Tax equivalent net interest margin increased to 3.45% from 3.21% in the prior quarter and 3.34% in the sam
Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), the parent company of Mid Penn Bank (the "Bank"), announces the appointment of Justin T. Webb as chief financial officer, effective January 8, 2024. Webb has been an integral part of the Bank since 2012, having served most recently as senior executive vice president and chief operating officer. Mid Penn Chair, President, and CEO Rory G. Ritrievi commented, "I could not be more pleased to announce Justin's appointment as the CFO of Mid Penn Bancorp, Inc. and Mid Penn Bank. We are fortunate to have someone of Justin's caliber and experience already within the Bank and ready to take on this role. His experience with the company is deep as he
HARRISBURG, Pa., May 25, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (Mid Penn) (NASDAQ:MPB), headquartered in Harrisburg, Pennsylvania, is pleased to announce the appointment of Mr. Albert J. (BJ) Evans to its Board of Directors, effective May 19, 2023. Mr. Evans is the President of Fanelli, Evans & Patel, P.C., and has been a trial attorney for 30 years. He is licensed to practice law in Pennsylvania and New Jersey, and is a board member of the Pennsylvania Trial Lawyers Association. He has also served on the boards of Riverview Financial and the Union Bank and Trust Company. Mid Penn Chair, President, and CEO Rory G. Ritrievi stated, "We are thrilled to welcome BJ to our Board of
HARRISBURG, Pa., May 25, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (Mid Penn) (NASDAQ:MPB), headquartered in Harrisburg, Pennsylvania, is pleased to announce the appointment of Joel L. Frank to its Board of Directors, effective May 19, 2023. Mr. Frank previously served as a director of Mid Penn Bank, the wholly-owned subsidiary of Mid Penn. He is the Chairman and Managing Partner of Lamb McErlane PC and concentrates his practice in commercial and civil litigation, attorney and judicial discipline and ethical matters, as well as election law. Mid Penn Chair, President, and CEO Rory G. Ritrievi stated, "We are thrilled to welcome Joel to our Board of Directors. He is highly respected
HARRISBURG, Pa., March 14, 2023 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (Mid Penn) (NASDAQ:MPB), headquartered in Harrisburg, Pennsylvania, is pleased to announce the appointment of Mr. Bruce A. Kiefer to its Board of Directors, effective March 10, 2023. Mr. Kiefer has worked as a chemist at The Hershey Company since 1984, holding various scientific and managerial roles within the company. In this capacity, Mr. Kiefer oversees the Laboratory Information Management System database and serves as the company's Chemical Hygiene Officer. He is also a managing partner of Lawrence Keister & Co. Mid Penn Chair, President, and CEO Rory G. Ritrievi stated, "We are delighted to welcome Bruce to
HARRISBURG, Pa., May 12, 2022 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), the parent company of Mid Penn Bank (the "Bank"), announces the appointment of Allison Johnson as senior executive vice president and chief financial officer, effective May 11, 2022. Ms. Johnson brings over 13 years of financial and accounting experience in financial services and related industries, having served most recently as the chief financial officer of Spirit of Texas Bank in Conroe, TX. "Allison is a proven leader who brings the right combination of banking experience and strategic vision to help Mid Penn grow," said President and CEO Rory Ritrievi. "Both our board and executive
HARRISBURG, Pa., May 11, 2022 (GLOBE NEWSWIRE) -- Mid Penn Bank (the "Bank"), a wholly owned subsidiary of Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB), announces the appointment of Jordan Space as executive vice president and chief corporate development officer, effective April 18, 2022. In his role, Mr. Space will be assisting the CEO in the development of new lines of business across the corporation, including the establishment of a Private Bank, to increase market share and strengthen Mid Penn's brand presence throughout the state. Most recently, Mr. Space served as market president of the Eastern Pennsylvania market for S&T Bank. Prior to that, he held the position of chief le
MILLERSBURG, Pa., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (NASDAQ:MPB) and its wholly-owned subsidiary Mid Penn Bank (Bank), have announced the appointment of Donald F. Holt as Interim Chief Financial Officer of MPB and the Bank. In his interim role as CFO, Mr. Holt will report to Rory Ritrievi, President and CEO, and will lead the accounting, finance, and treasury functions. He will also oversee the investment committee, manage the ALCO and interest rate risk management processes and will be responsible for the regulatory reporting process with banking and securities agencies. Mr. Holt is an industry veteran and bank executive with more than 25 years of financia
MILLERSBURG, Pa., Jan. 29, 2021 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ:MPB), parent company of the wholly-owned subsidiaries Mid Penn Bank and MPB Financial Services, Inc., is pleased to announce that William K. Poole has been added to the Mid Penn Bank Board of Directors, effective February 1, 2021. Mr. Poole was unanimously elected to that post by the Mid Penn Bancorp, Inc. Board of Directors. Mr. Poole has enjoyed a 36-year career as a banking executive in central Pennsylvania, primarily in Lancaster County. He was formerly the Chief Lending Officer for The Bank of Lancaster County, founder and CEO of HomeTowne Heritage Bank, Area Executive Officer of Integrity