$MPB

MID PENN BANCORP INC

CIK:0000879635|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Loans, including fees	$ 88,574	$ 72,469	$ 165,373	$ 139,006
Investment securities:
Taxable	7,558	4,637	14,059	9,097
Tax-exempt	284	344	581	692
Other interest-bearing balances	117	142	227	280
Federal funds sold	159	2,428	378	2,689
Total Interest Income	96,692	80,020	180,618	151,764
INTEREST EXPENSE
Deposits	30,619	30,981	58,467	59,245
Short-term borrowings	764	86	1,467	376
Long-term and subordinated debt	29	747	155	1,428
Total Interest Expense	31,412	31,814	60,089	61,049
Net Interest Income	65,280	48,206	120,529	90,715
Provision for credit losses - loans	557	2,245	2,205	2,566
Benefit for credit losses - credit commitments	(29)	24	(83)	4
Net provision for credit losses	528	2,269	2,122	2,570
Net Interest Income After Provision for Credit Losses	64,752	45,937	118,407	88,145
NONINTEREST INCOME
Net gain on sales of SBA loans	27	63	190	120
Earnings from cash surrender value of life insurance	1,041	491	1,746	765
Other	2,594	1,904	5,605	3,609
Total Noninterest Income	10,586	6,143	20,190	11,382
NONINTEREST EXPENSE
Salaries and employee benefits	26,945	20,753	50,291	37,062
Software licensing and utilization	4,155	3,272	7,756	5,846
Occupancy, net	2,891	2,365	6,145	4,639
Equipment	1,684	1,248	3,237	2,342
Shares tax	822	606	1,786	1,525
Legal and professional fees	2,157	993	3,846	1,819
ATM/card processing	689	621	1,446	1,354
Intangible amortization	1,819	744	3,119	1,172
FDIC Assessment	663	994	1,463	1,984
Loss/(gain) on sale of foreclosed assets, net	4	0	495	(28)
Merger and acquisition	103	11,011	7,826	11,325
Other	5,835	5,191	12,315	9,400
Total Noninterest Expense	47,767	47,798	99,725	78,440
INCOME BEFORE PROVISION FOR INCOME TAXES	27,571	4,282	38,872	21,087
Provision for income taxes	5,880	(480)	8,475	2,583
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 21,691	$ 4,762	$ 30,397	$ 18,504
PER COMMON SHARE DATA:
Basic Earnings Per Common Share (in dollars per share)	$ 0.86	$ 0.22	$ 1.23	$ 0.90
Diluted Earnings Per Common Share (in dollars per share)	$ 0.85	$ 0.22	$ 1.22	$ 0.89
Weighted-average basic shares outstanding (in shares)	25,330,234	21,566,617	24,643,437	20,467,349
Weighted-average diluted shares outstanding (in shares)	25,624,750	21,599,435	24,936,085	20,768,834
Fiduciary and wealth management
NONINTEREST INCOME
Non-interest Income	$ 3,891	$ 1,406	$ 7,552	$ 2,546
ATM debit card interchange
NONINTEREST INCOME
Non-interest Income	1,169	958	2,204	1,877
Service charges on deposits
NONINTEREST INCOME
Non-interest Income	632	652	1,268	1,214
Mortgage banking
NONINTEREST INCOME
Non-interest Income	1,119	676	1,432	1,267
Mortgage hedging
NONINTEREST INCOME
Non-interest Income	$ 113	$ (7)	$ 193	$ (16)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Dec. 31, 2025

Operating Activities:

Net Income

$ 30,397

$ 18,504

Adjustments to reconcile net income to net cash provided by operating activities:

Provision for credit losses

$ 528

$ 2,269

2,122

2,570

Depreciation

3,036

2,305

Amortization of intangibles

3,119

1,172

Net amortization of security discounts/premiums

388

132

Noncash operating lease expense

1,710

1,335

Amortization of finance lease right-of-use asset

Loss on sales of investment securities

243

$ 0

Earnings on cash surrender value of life insurance

(1,746)

(765)

Mortgage loans originated for sale

(50,301)

(31,868)

Proceeds from sales of mortgage loans originated for sale

38,806

34,098

Gain on sale of mortgage loans

(1,432)

(1,267)

SBA loans originated for sale

(3,111)

(1,783)

Proceeds from sales of SBA loans originated for sale

3,301

1,903

Gain on sale of SBA loans

(190)

(120)

Gain on sale of property, plant, and equipment

(10)

Loss/(gain) on sale or write-down of foreclosed assets

495

(28)

Discount on subordinated debt

(307)

Accretion of loan fair value marks

4,293

2,882

Restricted stock compensation expense

1,413

544

Stock option expense

1,208

3,364

Deferred income tax expense

2,115

1,451

Increase in accrued interest receivable

307

571

Increase in other assets

8,055

4,586

Increase/(decrease) in accrued interest payable

1,105

(92)

Increase in operating lease liability

805

4,928

Increase in other liabilities

850

2,310

Net Cash Provided By Operating Activities

46,835

46,748

Investing Activities:

Proceeds from the maturity or call of available-for-sale securities

50,596

19,430

Purchases of available-for-sale securities

(138,770)

(155,899)

Proceeds from the maturity or call of held-to-maturity securities

19,785

18,295

Purchases of held-to-maturity securities

(45,435)

Redemption of restricted investment in bank stock

11,782

8,962

Purchases of restricted investment in bank stock

(19,927)

(8,611)

Net cash received from acquisitions

162,829

218,112

Net (increase)/decrease in loans

(174,668)

2,276

Purchases of bank premises and equipment

(2,593)

(4,483)

Proceeds from the sale of premises and equipment

120

Proceeds from the sale of foreclosed assets

209

Proceeds from bank-owned life insurance

2,022

444

Net change in investments in tax credits and other partnerships

1,113

1,202

Net Cash (Used in)/Provided by Investing Activities

(133,057)

99,920

Financing Activities:

Net (decrease)/increase in deposits

(8,277)

139,977

Common stock dividends paid

(11,858)

(8,527)

Proceeds from Employee and Director Stock Purchase Plan stock issuance

365

308

Treasury stock purchased

(2,710)

(1,778)

Net change in finance lease liability

(75)

(72)

Proceeds from short-term borrowings

658,667

Repayment of short-term borrowings

(542,000)

(2,000)

Long-term debt repayment

(20,162)

(157)

Subordinated debt redemption

(8,131)

Cash paid in lieu of fractional shares

Net Cash Provided by Financing Activities

73,950

119,613

Net (decrease)/increase in cash and cash equivalents

(12,272)

266,281

Cash and cash equivalents, beginning of period

98,918

70,564

Cash and cash equivalents, end of period

$ 86,646

$ 336,845

86,646

336,845

$ 98,918

Supplemental Disclosures of Cash Flow Information:

Cash paid for interest

58,856

61,112

Cash paid for income taxes

758

399

Supplemental Noncash Disclosures:

Recognition of operating lease right-of-use assets

2,322

Recognition of operating lease liabilities

2,322

Loans transferred to foreclosed assets held-for-sale

1,288

9,816

Common Stock issued to Cumberland Advisors and 1st Colonial Shareholders

2,238

Fair value of assets acquired in business combinations, excluding cash

^[1],[2]

756,794

688,669

Goodwill recorded

^[1],[2]

20,391

7,313

Fair value of liabilities assumed in business combination

^[1],[2]

753,509

630,181

Fair value of shares issued in business combination

^[1],[2]

$ 71,853

$ 103,213

[1]	Includes the impact of the William Penn acquisition on April 30, 2025 and the Charis Insurance Group acquisition on May 12, 2025. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information.
[2]	Includes the impact of the 1st Colonial acquisition on February 27, 2026 and the Cumberland Advisors acquisition on January 1, 2026. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information.

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and due from banks	$ 55,168	$ 46,695
Interest-bearing balances with other financial institutions	15,367	29,178
Federal funds sold	16,111	23,045
Total Cash and cash equivalents	86,646	98,918
Investment securities:
HTM, at amortized cost (fair value $346,306 and $321,702, respectively)	372,866	347,285
AFS, at fair value (amortized cost $513,616 and $426,512, respectively)	499,773	416,314
Equity securities, at fair value	5,387	5,446
Loans held-for-sale, at fair value	16,595	3,668
Loans, net of unearned income	5,617,169	4,862,838
Less: ACL - Loans	(41,640)	(36,091)
Net loans	5,575,529	4,826,747
Premises and equipment, net	49,236	48,742
Operating lease right-of-use asset	15,872	15,169
Finance lease right-of-use asset	2,278	2,368
Cash surrender value of life insurance	117,515	95,351
Restricted investment in bank stocks	15,720	7,576
Accrued interest receivable	33,391	29,640
Deferred income taxes	23,227	21,416
Goodwill	157,121	136,620
Core deposit and other intangibles, net	31,173	14,657
Foreclosed assets held-for-sale	8,390	7,806
Other assets	52,191	56,173
Total Assets	7,062,910	6,133,896
Deposits:
Noninterest-bearing demand	973,371	834,013
Interest-bearing transaction accounts	3,299,576	2,829,175
Time	1,680,350	1,551,475
Total Deposits	5,953,297	5,214,663
Short-term borrowings	137,500	20,833
Long-term debt	2,902	23,139
Operating lease liability	16,275	15,405
Accrued interest payable	12,175	10,942
Other liabilities	38,854	34,856
Total Liabilities	6,161,003	5,319,838
Shareholders' Equity:
Common stock, par value $1.00 per share; 40,000,000 shares authorized at June 30, 2026 and December 31, 2025; 25,923,997 issued at June 30, 2026 and 23,567,094 at December 31, 2025; 25,320,686 outstanding at June 30, 2026 and 23,047,203 at December 31, 2025	25,924	23,567
Additional paid-in capital	661,903	589,421
Retained earnings	238,224	219,685
Accumulated other comprehensive loss	(9,142)	(6,323)
Treasury stock, at cost; 603,311 shares at June 30, 2026 and 519,891 at December 31, 2025	(15,002)	(12,292)
Total Shareholders’ Equity	901,907	814,058
Total Liabilities and Shareholders' Equity	$ 7,062,910	$ 6,133,896