MID PENN BANCORP INC.DL 1

At the annual meeting Thomas R. Brugger, Albert J. Evans, Joel L. Frank, Brian A. Hudson Sr. and John E. Noone were elected as Class A members of the board for three years. Shareholders approved the non‑binding executive compensation proposal and ratified Deloitte & Touche as the independent auditor for the fiscal year ending December 31, 2026. Mid Penn reported Q1 results with adjusted EPS of $0.64 (expectation $0.79) and revenue of $63.25 million, slightly above expectations. The board extended the share buyback program by up to $50 million through April 30, 2027; the institution has paid uninterrupted dividends for 16 years (yield 2.73%). » Więcej na de.investing.com

On April 21 the board of directors of Mid Penn approved the renewal and expansion of its repurchase program to up to $50 million and extended the term through April 30, 2027. Repurchases may be made in the open market or through private transactions, including under Rule 10b5-1 plans, and are at the board’s discretion subject to legal constraints. Mid Penn stresses that organic growth remains the priority, but the repurchase program is an additional tool to support shareholder value; the program may be amended, suspended or terminated at any time. » Więcej na de.investing.com

Mid Penn completed the acquisition of 1st Colonial after the market close; the transaction, valued at about $106.1 million, was settled in cash and stock. 1st Colonial Community Bank was integrated into Mid Penn Bank, and the combined institution has total assets of roughly $7 billion and operates 62 branches in Pennsylvania and in central and southern New Jersey. Mid Penn thereby expands its presence in the Greater Philadelphia/southern New Jersey area; Thomas R. Brugger was appointed a director, and advisors to both sides included Keefe, Bruyette & Woods and Stephens. » Więcej na de.investing.com