MID PENN BANCORP INC

Listed Company

MPBCIK 0000879635NasdaqAcceleratedState Commercial BanksPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$56.25M

Total Assets

$6.13B

Equity

$814.06M

Shares Out

23.18M

Op. Cash Flow

$80.03M

Business

Mid Penn Bancorp, Inc. is a financial holding company that supervises and coordinates the operations of its bank and nonbank subsidiaries, with consolidated activities driven by the bank. It provides commercial and consumer banking, trust and investment services, insurance and risk products, mortgage, commercial real estate and consumer lending, deposits, cash management and digital banking. The company operates as a single banking segment supported by nonbank affiliates for insurance, risk services, wealth management and realty holdings. It distributes services through community banking offices, limited-purpose branches, a loan production office and online channels in Pennsylvania and parts of New Jersey.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	292	266	218	150	119
Taxable	22	17	16	—	1
Tax-exempt	1	1	2	—	1
Other interest-bearing balances	611,000	1	361,000	69,000	13,000
Federal funds sold	7	2	373,000	2	809,000
Total Interest Income	324	287	236	166	123
Deposits	122	116	79	14	11
Short-term borrowings	381,000	11	7	441,000	539,000
Long-term and subordinated debt	2	3	3	3	3
Total Interest Expense	125	130	89	18	—
Net Interest Income	199	157	147	148	109
Provision for credit losses - loans	2	2	3	4	3
(Benefit)/provision for credit losses - credit commitments	−301,000	−628,000	404,000	0	—
Provision for credit losses	1	2	4	—	—
Net Interest Income After Provision for Credit Losses	198	155	143	144	106
Net gain on sales of SBA loans	220,000	347,000	571,000	262,000	969,000
Earnings from cash surrender value of life insurance	2	1	1	1	358,000
Net gain on sales of investment activities	10,000	0	0	0	79,000
Other	10	8	6	8	4
Noninterest Income	27	22	20	24	22
Salaries and employee benefits	78	64	59	53	42
Software licensing and utilization	13	9	8	8	6
Occupancy, net	10	8	7	7	6
Equipment	5	5	5	4	3
Shares tax	3	2	3	3	800,000
Legal and professional fees	4	4	3	3	2
ATM/card processing	3	2	2	2	1
Intangible amortization	3	2	2	2	1
FDIC Assessment	3	4	4	2	2
Loss/(gain) on sale of foreclosed assets, net	646,000	80,000	−144,000	−133,000	−25,000
Merger and acquisition	12	545,000	6	294,000	3
Post-acquisition restructuring	0	0	3	329,000	10
Other	19	16	17	17	15
Total Noninterest Expense	152	118	119	100	91
INCOME BEFORE PROVISION FOR INCOME TAXES	72	60	45	67	36
Provision for income taxes	16	11	7	13	7
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	56	49	37	55	29
Basic Earnings Per Common Share (in dollars per share)	2.59	2.9	2.29	3.44	2.71
Diluted Earnings Per Common Share (in dollars per share)	2.55	2.9	2.29	3.44	2.71
Weighted-average basic shares outstanding (in shares)	22	17	16	16	11
Weighted-average diluted shares outstanding (in shares)	22	17	16	16	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	47	37	45	53	41
Interest-bearing balances with other financial institutions	29	14	35	4	146
Federal funds sold	23	19	17	3	727
Total Cash and cash equivalents	99	71	97	61	914
Held-to-maturity, at amortized cost (fair value $321,702 and $340,648)	347	382	399	399	329
AFS, at fair value (amortized cost $426,512 and $284,770)	416	260	224	238	63
Equity securities, at fair value	5	428,000	438,000	430,000	500,000
Loans held-for-sale, at fair value	4	7	4	2	12
Loans, net of unearned income	4,863	4,443	4,253	3,514	3,104
Less: ACL - Loans	−36	−36	−34	−19	−15
Net loans	4,827	4,408	4,219	3,495	3,090
Premises and equipment, net	49	39	37	34	33
Operating lease right-of-use asset	15	8	9	9	9
Finance lease right-of-use asset	2	3	3	3	3
Cash surrender value of life insurance	95	52	54	51	50
Restricted investment in bank stocks	8	7	17	8	9
Accrued interest receivable	30	27	26	18	11
Deferred income taxes	21	23	24	14	11
Goodwill	137	128	127	114	114
Core deposit and other intangibles, net	15	6	6	7	9
Foreclosed assets held-for-sale	8	44,000	293,000	43,000	0
Other assets	56	50	45	43	28
Total Assets	6,134	5,471	5,291	4,498	4,689
Noninterest-bearing demand	834	759	801	794	850
Interest-bearing demand deposits	2,829	2,330	2,086	2,326	2,525
Time	1,551	1,601	1,458	659	627
Total Deposits	5,215	4,690	4,346	3,778	4,002
Short-term borrowings	21	2	242	103	0
Long-term debt	23	24	59	4	81
Subordinated debt and trust preferred securities	0	46	46	57	—
Operating lease liability	15	8	9	10	11
Accrued interest payable	11	13	14	2	2
Other liabilities	35	33	32	31	29
Total Liabilities	5,320	4,816	4,748	3,986	4,199
Common stock, par value $1.00 per share; 40,000,000 shares authorized; 23,567,094 issued as of December 31, 2025, and 19,796,519 as of December 31, 2024; 23,047,203 outstanding as of December 31, 2025, and 19,355,797 as of December 31, 2024	24	20	17	16	16
Additional paid-in capital	589	480	406	387	385
Retained earnings	220	182	146	133	91
Accumulated other comprehensive loss	−6	−17	−17	−19	158,000
Treasury stock, at cost; 519,891 and 440,722 shares as of December 31, 2025 and December 31, 2024	−12	−10	−10	−5	−2
Total Shareholders Equity	814	655	542	512	490
Total Liabilities and Shareholders' Equity	6,134	5,471	5,291	4,498	4,689

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Income	56	49	37	55	29
Depreciation	5	5	5	4	3
Amortization of intangibles	3	2	2	2	1
Net amortization of security discounts/premiums	330,000	397,000	472,000	729,000	636,000
Noncash operating lease expense	3	2	2	2	2
Amortization of finance lease right-of-use asset	180,000	179,000	180,000	0	1
Earnings on cash surrender value of life insurance	−2	−1	−1	−1	−358,000
Mortgage loans originated for sale	−104	−114	−83	−139	−317
Proceeds from sales of mortgage loans originated for sale	110	113	83	149	341
Gain on sale of mortgage loans	−3	−2	−1	−2	−10
SBA loans originated for sale	−3	−5	−11	−5	−11
Proceeds from sales of SBA loans originated for sale	4	5	11	6	12
Gain on sale of SBA loans	−220,000	−347,000	−571,000	−262,000	−969,000
Gain on sale of property, plant, and equipment	−51,000	−10,000	0	938,000	−105,000
Discount on subordinated debt	−461,000	−613,000	−587,000	—	—
Stock compensation expense	2	1	1	1	696,000
Change in deferred income taxes	14	2	−2	2	484,000
Increase in accrued interest receivable	−523,000	−1	−6	−7	4
(Increase)/decrease in other assets	−4	−5	10	−13	−4
(Decrease)/increase in accrued interest payable	−3	−773,000	10	510,000	−655,000
Increase/(decrease) in operating lease liability	3	−2	−3	−3	−2
(Decrease)/increase in other liabilities	−2	2	−4	2	15
Net Cash Provided By Operating Activities	80	51	52	60	66
Proceeds from the sale of available-for-sale securities	0	0	2	0	5
Proceeds from the maturity or call of available-for-sale securities	60	34	17	15	3
Purchases of available-for-sale securities	−202	−73	0	−214	−65
Proceeds from the maturity or call of held-to-maturity securities	35	16	10	15	42
Stock dividends received on FHLB and other bank stock	443,000	1	864,000	289,000	345,000
(Purchases)/reduction of restricted investment in bank stock	−558,000	8	−9	530,000	324,000
Net cash received/(paid) from acquisitions	218	−3	1	—	—
Net increase in loans	−26	−191	−425	−412	115
Purchases of bank premises and equipment	−8	−7	−3	−4	−3
Proceeds from the sale of premises and equipment	352,000	163,000	0	220,000	62,000
Proceeds from the sale of foreclosed assets	2	359,000	1	242,000	212,000
Proceeds from bank-owned life insurance	1	7	774,000	0	0
Earnings on bank-owned life insurance	0	−3	−125,000	0	0
Net change in investments in tax credits and other partnerships	2	162,000	−5	0	0
Net Cash Provided by (Used in) Investing Activities	83	−209	−409	−705	169
Net (decrease)/increase in deposits	−95	344	286	−203	446
Common stock dividends paid	−18	−14	−13	−13	−9
Proceeds from Employee and Director Stock Purchase Plan stock issuance	619,000	561,000	482,000	364,000	307,000
Proceeds from public offering of common stock	0	76	0	0	70
Treasury stock purchased	−2	−323,000	−5	−3	−128,000
Net change in finance lease liability	−146,000	−134,000	−93,000	−90,000	−87,000
Proceeds from short-term borrowings	244	1,305	1,732	—	—
Repayment of short-term borrowings	−225	−1,545	−1,593	—	—
Long-term debt repayment	−318,000	−35	−30	−77	−258,000
Proceeds from long-term debt	0	0	25	0	0
Subordinated debt redemption	−45	0	−10	−17	−7
Exercise of stock options	7	0	0	—	—
Net Cash (Used in)/Provided by Financing Activities	−135	131	392	−208	375
Net increase/(decrease) in cash and cash equivalents	28	−26	36	−853	610
Cash paid for interest	127	131	77	17	15
Cash paid for income taxes	6	853,000	8	8	7
Recognition of operating lease right-of-use assets	4	930,000	2	0	2
Recognition of operating lease liabilities	4	930,000	2	1	2
Loans transferred to foreclosed assets held-for-sale	10	164,000	1	152,000	53,000
Fair value of assets acquired in business combination, excluding cash	688	2	362	0	906
Goodwill recorded	7	1	13	0	51
Fair value of liabilities assumed in business combination	630	0	345	0	1,130
Fair value of shares issued in business combination	103	0	18	0	0

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