Announcement • Sep 25

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) entered into a definitive agreement to acquire 1st Colonial Bancorp, Inc. (OTCPK:FCOB) for $97.9 million.

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) entered into a definitive agreement to acquire 1st Colonial Bancorp, Inc. (OTCPK:FCOB) for $97.9 million on September 24, 2025. Under the terms of the merger agreement, 60% of 1st Colonial common shares will be converted into Mid Penn common stock while the remaining 40% will be exchanged for cash. 1st Colonial shareholders will have the option to elect to receive either 0.6945 of a share of Mid Penn common stock or $18.50 in cash for each common share of 1st Colonial they own, subject to proration to ensure that, in the aggregate, 60% of the transaction consideration will be paid in the form of Mid Penn common stock. This values the transaction at approximately $20.03 per 1st Colonial common share, based on Mid Penn’s closing stock price on September 23, 2025 and the 60% stock and 40% cash consideration mix. All options to purchase 1st Colonial common stock will be cashed out upon completion of the merger. In the quarter following the completion of the transaction, 1st Colonial shareholders are projected to receive a quarterly cash dividend equal to approximately $0.14 per 1st Colonial share of common stock exchanged for Mid Penn stock, based on Mid Penn’s current quarterly dividend of $0.20 per share of common stock. One 1st Colonial director to be nominated by the 1st Colonial board of directors in consultation with Mid Penn will join the Mid Penn board upon completion of the transaction. Concurrent with the entering into the merger agreement, 1st Colonial President and Chief Executive Officer, Robert B. White, entered into an employment agreement with Mid Penn Bank to become the Senior Executive Vice President, Greater Philadelphia Metro Area Market President and Senior Risk Advisor of Mid Penn Bank. The transaction is expected to close late in the first quarter or early in the second quarter of 2026, subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by 1st Colonial shareholders. The merger agreement has been unanimously approved by the board of directors of each company. The merger is expected to be immediately accretive to Mid Penn’s estimated earnings per share and to have a positive long-term impact on Mid Penn’s key profitability and operating ratios. Following completion of the merger, 1st Colonial shareholders will own approximately 8% of Mid Penn’s outstanding shares of common stock. Keefe, Bruyette & Woods, A Stifel Company is acting as exclusive financial advisor to Mid Penn and Holland & Knight LLP is acting as its legal advisor in the transaction. Stephens Inc. is acting as exclusive financial advisor to 1st Colonial and rendered a fairness opinion to 1st Colonial, and Stradley Ronon Stevens & Young, LLP is acting as its legal advisor in the transaction.

Announcement • May 01

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) completed the acquisition of William Penn Bancorporation (NasdaqCM:WMPN).

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) entered into a definitive agreement and plan of merger to acquire William Penn Bancorporation (NasdaqCM:WMPN) for approximately $120 million on October 31, 2024. Under the terms of the Merger Agreement, shareholders of William Penn will have the right to receive, for each share of common stock, par value $0.01 per share, of William Penn, 0.426 shares of Mid Penn common stock (the “Exchange Ratio”) and cash in lieu of fractional shares, subject to adjustment and proration as described in the Merger Agreement. Based on Mid Penn’s closing stock price of $31.88 per share as of October 30, 2024, the implied transaction value is approximately $13.58 per William Penn share, or $127 million transaction value, in the aggregate. The aggregate deal value of $127 million ($119 million post-ESOP loan pay-down). The merger is expected to be immediately accretive to Mid Penn’s estimated earnings per share and to have a positive long-term impact on Mid Penn’s key profitability and operating ratios. Upon consummation of the Merger, William Penn Bancorporation will merge with and into Mid Penn Bancorp, Inc., with Mid Penn being the surviving corporation in the Merger. Upon consummation of the Merger, William Penn Bank, a wholly-owned subsidiary of William Penn, will be merged with and into Mid Penn Bank (the “Bank Merger”), a wholly-owned subsidiary of Mid Penn, with Mid Penn Bank being the surviving bank in the Bank Merger. Effective as of the effective time of the Merger, Kenneth J. Stephon, Chairman, President and Chief Executive Officer of William Penn, will be appointed as (i) a director of Mid Penn and Mid Penn Bank, (ii) Vice Chair of Mid Penn Bank, and (iii) Chief Corporate Development Officer of Mid Penn and Mid Penn Bank. All of the members of the board of directors of William Penn in office as of the effective time, other than Mr. Stephon, will be offered the opportunity to serve a paid three-year term on an advisory board of Mid Penn Bank. The Merger Agreement contains certain termination rights for both William Penn and Mid Penn and further provides that, upon termination of the Merger Agreement under certain circumstances, William Penn may be obligated to pay a termination fee of $4.9 million. Completion of the Merger is subject to a number of customary conditions, including, among other things: (i) the approval of the Merger Agreement by the shareholders of William Penn; (ii) the approval of the issuance of shares of Mid Penn in the Merger by the shareholders of Mid Penn, (iii) the effectiveness of the registration statement to be filed by Mid Penn with the SEC relating to the Mid Penn common stock to be issued in the Merger; (iv) approval of the listing on the Nasdaq Stock Market of the shares of Mid Penn common stock to be issued in the Merger; (v) the absence of any order of other legal restriction prohibiting the closing of the Merger; and (vi) receipt of the required regulatory approvals without the imposition of any condition or requirement, excluding standard conditions that are normally imposed by the regulatory authorities in bank merger transactions, that would, in the good faith reasonable judgment of the board of directors of either Mid Penn or William Penn, materially reduce the benefits of the Merger to such a degree that either William Penn or Mid Penn would not have entered into the Merger Agreement had such condition, restriction or requirement been known at the date of the Merger Agreement. Each party’s obligation to complete the Merger is also subject to certain additional customary conditions, including: (a) subject to certain exceptions, the accuracy of the representations and warranties of the other party; (b) performance in all material respects by the other party of its obligations under the Merger Agreement; (c) the absence of any material adverse effect (as such term is defined in the Merger Agreement) with respect to the other party; and (d) the receipt by each party of an opinion from its counsel to the effect that the Merger will qualify as a reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended. The Merger has been approved unanimously by each company’s board of directors. It is expected the Merger will be completed in the second quarter of 2025. As of March 28, 2025, the transaction has received all required approvals from the applicable bank regulatory agencies. As of April 2, 2025, The transaction approved by shareholders of Mid Penn Bancorp, Inc. and William Penn Bancorporation. Scott Studwell and Frank Sorrentino of Stephens Inc. are serving as Mid Penn’s exclusive financial advisor, and Pillar + Aught is serving as its legal advisor. Keefe, Bruyette & Woods, A Stifel Company, rendered a fairness opinion to Mid Penn’s board of directors and will receive a fee of $0.3 million. Piper Sandler & Co. is serving as William Penn’s exclusive financial advisor and rendered a fairness opinion to William Penn’s board of directors, and Kilpatrick Townsend & Stockton LLP is serving as its legal advisor. Piper Sandler will receive a fee for such services in an amount equal to 1.25% of the aggregate purchase price, which fee is contingent upon the closing of the merger. At the time of announcement of the transaction, Piper Sandler’s fee was approximately $1.6 million. Piper Sandler also received a $250,000 fee from William Penn upon rendering its opinion. Alliance Advisors LLC acted as proxy solicitor to William Penn and will receive a fee of $0.01 million. Mid Penn Bancorp, Inc. (NasdaqGM:MPB) completed the acquisition of William Penn Bancorporation (NasdaqCM:WMPN) on April 30, 2025.

Total deposits	US$5.95b
Loan to deposit ratio	Appropriate
Bad loans	0.5%
Allowance for bad loans	Sufficient
Current ratio	Low
Cash & equivalents	US$95.76m

Data	Last Updated (UTC time)
Company Analysis	2026/09/15 01:37
End of Day Share Price	2026/09/15 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Russell Elliott Gunther	D.A. Davidson & Co.
Christopher McGratty	Keefe, Bruyette, & Woods
Timothy Switzer	Keefe, Bruyette, & Woods

Mid Penn Bancorp Balance Sheet Health

Financial Health criteria checks 6/6

Key information

Recent financial health updates

Mid Penn Bancorp, Inc. announced delayed annual 10-K filing

Recent updates

Mid Penn Bancorp, Inc. Appoints Gregory B. Braca to Board of Directors, Audit Committee, Compensation Committee, and Risk Committee, Effective September 16, 2026

Consensus EPS estimates increase by 11%

Price target increased by 8.5% to US$40.33

Second quarter dividend of US$0.23 announced

Second quarter 2026 earnings: EPS and revenues exceed analyst expectations

Mid Penn Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on August 14, 2026

Mid Penn Bancorp: Bigger Does Not Always Mean Better

Mid Penn Bancorp, Inc. Announces Net Charge-Offs Charges for the First Quarter Ended March 31, 2026

Mid Penn Bancorp, Inc., Annual General Meeting, May 12, 2026

Mid Penn Bancorp, Inc. Declares Cash Dividend for Fourth Quarter 2025, Payable on February 17, 2026

Mid Penn Bancorp's (NASDAQ:MPB) Upcoming Dividend Will Be Larger Than Last Year's

Mid Penn Bancorp, Inc. Increases Cash Dividend for Third Quarter 2025, Payable on November 24, 2025

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) entered into a definitive agreement to acquire 1st Colonial Bancorp, Inc. (OTCPK:FCOB) for $97.9 million.

Mid Penn Bancorp (NASDAQ:MPB) Has Announced A Dividend Of $0.20

Mid Penn Bancorp, Inc. Declares Dividend, Payable on August 25, 2025

Mid Penn Bancorp, Inc.(NasdaqGM:MPB) dropped from Russell 3000 Growth Index

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) completed the acquisition of William Penn Bancorporation (NasdaqCM:WMPN).

Mid Penn Bancorp (NASDAQ:MPB) Has Affirmed Its Dividend Of $0.20

Mid Penn Bancorp, Inc. Reports Total Loans Charged Off for the First Quarter Ended March 31, 2025

Mid Penn Bancorp, Inc., Annual General Meeting, May 13, 2025

Mid Penn Bancorp (NASDAQ:MPB) Has Announced A Dividend Of $0.20

Mid Penn Bancorp, Inc. Reports Unaudited Consolidated Net Charge-Offs for the Three Months Ended December 31, 2024

Mid Penn Bancorp And William Penn Are Tying The Knot

Mid Penn Bancorp, Inc. has completed a Follow-on Equity Offering in the amount of $70.0625 million.

Mid Penn Bancorp, Inc. has filed a Follow-on Equity Offering in the amount of $70 million.

Mid Penn Bancorp (NASDAQ:MPB) Is Paying Out A Dividend Of $0.20

Mid Penn Bancorp, Inc. (NASDAQ:MPB) Just Reported Third-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

Mid Penn Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on November 25, 2024

Mid Penn Bancorp, Inc. Reports Net Charge-Offs for the Three Months Ended June 30, 2024

Mid Penn Bancorp, Inc. Reports Net Charge-Offs for the First Quarter Ended March 31, 2024

Mid Penn Bancorp, Inc., Annual General Meeting, May 14, 2024

Mid Penn Bancorp, Inc. announced delayed annual 10-K filing

Independent Director recently bought US$50k worth of stock

Upcoming dividend of US$0.20 per share at 3.7% yield

Mid Penn Bancorp (NASDAQ:MPB) Will Pay A Dividend Of $0.20

Fourth quarter dividend of US$0.20 announced

Full year 2023 earnings: EPS misses analyst expectations

Mid Penn Bancorp, Inc. Reports Loans Charged Off for the Fourth Quarter Ended December 31, 2023

Mid Penn Bancorp, Inc. Announces the Appointment of Jordan D. Space as Chief Operating Officer

Consensus EPS estimates increase by 20%

Mid Penn Bancorp, Inc. Appoints Justin T. Webb as Chief Financial Officer

Mid Penn Bancorp, Inc. Announces the Departure of Allison S. Johnson as Senior Executive Vice President

Insider recently bought US$75k worth of stock

Upcoming dividend of US$0.20 per share at 4.2% yield

Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Mid Penn Bancorp, Inc. Reports Loans Charged Off for the Third Quarter Ended September 30, 2023

Independent Director recently bought US$50k worth of stock

Upcoming dividend of US$0.20 per share at 3.4% yield

Mid Penn Bancorp (NASDAQ:MPB) Is Paying Out A Dividend Of $0.20

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Mid Penn Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on August 28, 2023

New major risk - Revenue and earnings growth

Investor sentiment improves as stock rises 16%

Mid Penn Bancorp, Inc. Announces Committee Changes

Mid Penn Bancorp, Inc. Appoints Joel L. Frank to Board of Directors

Investor sentiment improves as stock rises 17%

Mid Penn Bancorp, Inc. Appoints Frank Gumina as Class B Director

Independent Director recently bought US$98k worth of stock

Here's Why We Think Mid Penn Bancorp (NASDAQ:MPB) Might Deserve Your Attention Today

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

Independent Director recently bought US$100k worth of stock

Consensus EPS estimates fall by 18%, revenue upgraded

Independent Director recently bought US$100k worth of stock

Upcoming dividend of US$0.20 per share at 2.5% yield

Mid Penn Bancorp (NASDAQ:MPB) Has Affirmed Its Dividend Of $0.20

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

Mid Penn Bancorp, Inc. Reports Loan Charge-Offs for the Fourth Quarter Ended December 31, 2022

Mid Penn Bancorp, Inc. Announces Executive Changes

Price target increased to US$37.00

Price target increased to US$37.00

Upcoming dividend of US$0.20 per share

Mid Penn Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on November 28, 2022

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Independent Director recently bought US$86k worth of stock