Mid Penn Bancorp Management

Management criteria checks 2/4

Mid Penn Bancorp's CEO is Rory Ritrievi, appointed in Feb 2009, has a tenure of 15.17 years. total yearly compensation is $1.70M, comprised of 39.9% salary and 60.1% bonuses, including company stock and options. directly owns 0.49% of the company’s shares, worth $1.67M. The average tenure of the management team and the board of directors is 0.3 years and 12.5 years respectively.

Key information

Rory Ritrievi

Chief executive officer

US$1.7m

Total compensation

CEO salary percentage	39.9%
CEO tenure	15.2yrs
CEO ownership	0.5%
Management average tenure	less than a year
Board average tenure	12.5yrs

Recent management updates

Recent updates

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

Jan 29

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

Aug 01

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

May 03

Mid Penn Bancorp, Inc. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Feb 04

Mid Penn Bancorp: Acquisition Benefits To Buoy Earnings This Year

Jan 14

Mid Penn Bancorp (NASDAQ:MPB) Will Pay A Larger Dividend Than Last Year At US$0.20

Jul 30

Mid Penn Bancorp raises $65M capital via equity offering

Apr 30

Brokers Are Upgrading Their Views On Mid Penn Bancorp, Inc. (NASDAQ:MPB) With These New Forecasts

Apr 28

CEO Compensation Analysis

How has Rory Ritrievi's remuneration changed compared to Mid Penn Bancorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$2m	US$680k	US$37m
Sep 30 2023	n/a	n/a	US$41m
Jun 30 2023	n/a	n/a	US$47m
Mar 31 2023	n/a	n/a	US$55m
Dec 31 2022	US$1m	US$604k	US$55m
Sep 30 2022	n/a	n/a	US$40m
Jun 30 2022	n/a	n/a	US$34m
Mar 31 2022	n/a	n/a	US$31m
Dec 31 2021	US$1m	US$523k	US$29m
Sep 30 2021	n/a	n/a	US$38m
Jun 30 2021	n/a	n/a	US$34m
Mar 31 2021	n/a	n/a	US$32m
Dec 31 2020	US$1m	US$500k	US$26m
Sep 30 2020	n/a	n/a	US$22m
Jun 30 2020	n/a	n/a	US$20m
Mar 31 2020	n/a	n/a	US$17m
Dec 31 2019	US$790k	US$488k	US$18m
Sep 30 2019	n/a	n/a	US$18m
Jun 30 2019	n/a	n/a	US$15m
Mar 31 2019	n/a	n/a	US$14m
Dec 31 2018	US$665k	US$450k	US$10m
Sep 30 2018	n/a	n/a	US$6m
Jun 30 2018	n/a	n/a	US$7m
Mar 31 2018	n/a	n/a	US$6m
Dec 31 2017	US$501k	US$374k	US$7m

Compensation vs Market: Rory's total compensation ($USD1.70M) is about average for companies of similar size in the US market ($USD2.37M).

Compensation vs Earnings: Rory's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Rory Ritrievi (59 yo)

15.2yrs

Tenure

US$1,702,023

Compensation

Mr. Rory G. Ritrievi serves as Chairman at Mid Penn Bancorp, Inc. and Mid Penn Bank since July 2021. He has been the Chief Executive Officer and President of Mid Penn BanCorp Inc. since joining on February...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Rory Ritrievi	President	15.2yrs	US$1.70m	0.49% $ 1.7m
Justin Webb	Chief Financial Officer	less than a year	US$650.89k	0.12% $ 395.8k
Scott Micklewright	Chief Revenue Officer	less than a year	US$648.22k	0.12% $ 399.0k
Joseph Paese	Executive VP and Director of Trust & Wealth Management of Mid Penn Bank	8yrs	US$527.87k	0.055% $ 187.7k
Jordan Space	Chief Operating Officer	less than a year	no data	0.041% $ 141.6k
Margaret Steinour	Senior VP & Chief Administrative Officer	no data	no data	no data
Zachary Miller	First SVP & Chief Risk Officer	no data	no data	0.013% $ 43.1k
Heather Hall	Senior EVP	no data	no data	0.032% $ 109.2k
Elizabeth Martin	Corporate Secretary	no data	no data	no data

0.3yrs

Average Tenure

49yo

Average Age

Experienced Management: MPB's management team is not considered experienced ( 0.3 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Rory Ritrievi	President	15.2yrs	US$1.70m	0.49% $ 1.7m
John Noone	Lead Independent Director	11.7yrs	US$132.30k	0.37% $ 1.3m
Theodore Mowery	Independent Director	20.3yrs	US$102.51k	0.34% $ 1.2m
David Sparks	Director	5.7yrs	US$120.52k	0.68% $ 2.3m
Robert Grubic	Independent Director	18.3yrs	US$100.11k	0.38% $ 1.3m
William Specht	Independent Director	18.3yrs	US$107.16k	0.29% $ 1.0m
Matthew DeSoto	Independent Director	16.3yrs	US$101.41k	0.44% $ 1.5m
Brian Hudson	Independent Director	3.3yrs	US$107.58k	0.041% $ 142.2k
Joel Frank	Independent Director	less than a year	US$58.79k	0.045% $ 153.8k
Robert Abel	Independent Director	13.3yrs	US$107.33k	0.19% $ 651.7k
Maureen Gathagan	Independent Director	2.4yrs	US$96.05k	0.056% $ 193.4k
Kimberly Brumbaugh	Independent Director	5.2yrs	US$105.03k	0.057% $ 195.4k

12.5yrs

Average Tenure

62yo

Average Age

Experienced Board: MPB's board of directors are seasoned and experienced ( 12.5 years average tenure).

Mid Penn Bancorp Management

Management criteria checks 2/4

Key information

Recent management updates

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

Independent Director recently bought US$50k worth of stock

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

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

Recent updates

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

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) entered into an Agreement and Plan of Merger to acquire Brunswick Bancorp (OTCPK:BRBW) for $51.9 million.

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

Upcoming dividend of US$0.20 per share

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

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Mid Penn Bancorp, Inc. Declares Quarterly Dividend, Payable on August 22, 2022

Mid Penn Bancorp declares $0.20 dividend

Independent Director recently bought US$100k worth of stock

Mid Penn Bancorp, Inc. Announces the Appointment of Allison Johnson as Senior Executive Vice President, Effective May 11, 2022

Upcoming dividend of US$0.20 per share

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

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Mid Penn Bancorp, Inc. Declares Dividend, Payable on May 23, 2022

Mid Penn Bancorp: Top Line Outlook Remains Rosy Thanks To Economic Factors

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Mid Penn Bancorp, Inc. Announces Executive Changes

Mid Penn Bancorp, Inc., Annual General Meeting, May 10, 2022

Mid Penn Bancorp, Inc. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

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

Now 20% undervalued

Mid Penn Bancorp: Acquisition Benefits To Buoy Earnings This Year

Consensus EPS estimates increase by 21%

Price target increased to US$34.00

Mid Penn Bancorp, Inc. (NasdaqGM:MPB) completed the acquisition of Riverview Financial Corporation (NasdaqGM:RIVE) from Castle Creek Capital Partners VI LP managed by Castle Creek Capital LLC and others.

Upcoming dividend of US$0.20 per share