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Mid Penn Bancorp, Inc. (MPB)

NasdaqGS - NasdaqGS Real-time price. Currency in USD
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28.78-0.03 (-0.10%)
At close: 4:00PM EDT
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Previous close28.81
Open28.82
Bid27.35 x 800
Ask28.81 x 2200
Day's range28.78 - 28.95
52-week range16.82 - 29.87
Volume16,660
Avg. volume42,136
Market cap328.268M
Beta (5Y monthly)0.69
PE ratio (TTM)7.67
EPS (TTM)3.75
Earnings date28 Jan 2021
Forward dividend & yield0.80 (2.78%)
Ex-dividend date07 May 2021
1y target est30.00
  • Mid Penn Bank Originates Over $1 Billion in PPP Loans Helping to Save Over 89,000 Jobs
    GlobeNewswire

    Mid Penn Bank Originates Over $1 Billion in PPP Loans Helping to Save Over 89,000 Jobs

    MILLERSBURG, Pa., May 05, 2021 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB), parent company of the wholly-owned subsidiaries Mid Penn Bank (“Bank”) and MPB Financial Services, Inc., announced today that the Bank has approved and disbursed more than $370 million in loans for small businesses since the 2021 Paycheck Protection Program (PPP) portal was opened for community banks in January. Mid Penn Bank has provided loans for more than 3,300 businesses in the 2021 Program. The Small Business Administration backed loans received by these employers has allowed them to retain more than 34,000 workers on their payrolls. The Bank’s SBA team relied on the experience gained in the first round of PPP in 2020 to help business owners and managers efficiently and successfully apply for and receive this critical funding. Through both the 2020 and 2021 programs, Mid Penn Bank has funded more than 7,400 loans for over $1.0 billion. “This unprecedented program has been a critical component of sustaining the economies in the markets we serve. I am incredibly proud of the work that we are doing to get applications submitted quickly and correctly so that we can get these needed funds to the businesses that are the backbone of local economies,” said Mid Penn Bank President and CEO Rory Ritrievi. The Mid Penn Paycheck Protection Program lending team is led by Natalie Falatek, First Vice President and Director of SBA/guaranteed lending. In 2019, Falatek completed the prestigious 7A Accreditation through the National Association of Government Guaranteed Lenders (NAGGL) Advanced Lender Diploma Program. She is one of only 49 lenders in the country to earn the 7A Accreditation. In 2020, Ms. Falatek received the Coleman PPP Lender of the Year award from the Coleman Report. To learn more about Mid Penn Bank’s SBA programs, please visit us at https://midpennbank.com/business/financing/sba-loans/ or call our SBA Task Force Hotline at 888-472-9778. About Mid Penn Bancorp Inc.Mid Penn Bancorp, Inc. (NASDAQ: MPB), headquartered in Millersburg, Pennsylvania, has been serving the community since 1868. Mid Penn Bank operates retail locations throughout the state of Pennsylvania and has total assets of $3 billion. Its footprint includes Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill and Westmoreland counties. The Bank offers a comprehensive portfolio of products and services to meet the banking needs of the communities it serves. To learn more about Mid Penn Bank, visit www.midpennbank.com. CONTACT: Contact: Matthew Miller 717-257-9015 matthew.miller@midpennbank.com

  • Mid Penn Bancorp, Inc. Announces Closing of Public Offering of Common Stock
    GlobeNewswire

    Mid Penn Bancorp, Inc. Announces Closing of Public Offering of Common Stock

    MILLERSBURG, Pa., May 04, 2021 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (“Mid Penn” or the “Company”) (NASDAQ: MPB), the parent company of Mid Penn Bank, announced today that it has completed its underwritten public offering of 2,990,000 shares of common stock at a price of $25.00 per share, before underwriting discounts, including 390,000 additional shares of common stock upon the exercise in full by the underwriters of their option to purchase additional shares. The aggregate gross proceeds of the offering were $74.75 million. The net proceeds of the offering after deducting the underwriting discount and other estimated offering expenses are expected to be approximately $70.2 million. The Company intends to use the net proceeds of the offering to increase its capital structure, to fund future organic growth and for working capital and other general corporate purposes. The Company may also use a portion of the net proceeds for future acquisitions, although the Company has no present commitments or agreements to do so. Piper Sandler & Co. and Stephens Inc. served as joint book-running managers for the offering. Mid Penn was represented by Pillar Aught LLC. The underwriters were represented by Holland & Knight LLP. The offering was made by means of an effective shelf registration statement, including a preliminary prospectus supplement and final prospectus supplement, copies of which may be obtained by contacting Piper Sandler & Co., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, or by phone at 1-866-805-4128 or Stephens Inc., 111 Center Street, Little Rock, AR 72201, or by phone at 1-800-643-9691. This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, which is made only by means of a prospectus supplement and related base prospectus, nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Mid Penn Bancorp, Inc. Mid Penn Bancorp, Inc. (NASDAQ: MPB) is the holding company for Mid Penn Bank, a Pennsylvania bank and trust company headquartered in Millersburg, Pennsylvania, that has been serving the community since 1868. Mid Penn Bank operates retail locations throughout the Commonwealth of Pennsylvania and has total assets of approximately $3 billion. Its footprint includes Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill and Westmoreland counties. The Bank offers a comprehensive portfolio of products and services to meet the banking needs of the communities it serves. SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; the length and extent of the COVID-19 pandemic; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn’s portfolio; the success and timing of PPP loan repayment and forgiveness; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; and material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn’s initial expectations, including the full realization of anticipated cost savings and revenue enhancements. For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2020. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn assumes no obligation for updating any such forward-looking statements at any time, except as required by law. CONTACT: CONTACTS Rory G. Ritrievi President & Chief Executive Officer Michael D. Peduzzi, CPA Chief Financial Officer Mid Penn Bancorp, Inc. 349 Union Street Millersburg, PA 17061 1-866-642-7736

  • It's Unlikely That The CEO Of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Will See A Huge Pay Rise This Year
    Simply Wall St.

    It's Unlikely That The CEO Of Mid Penn Bancorp, Inc. (NASDAQ:MPB) Will See A Huge Pay Rise This Year

    In the past three years, the share price of Mid Penn Bancorp, Inc. ( NASDAQ:MPB ) has struggled to grow and now...