Mid Penn Bancorp Q4 net income $15.7M ($0.99 EPS); announces Brunswick Bancorp acquisition

MID PENN BANCORP INC

2022-FY EPS reported $3.44

Net income of $15.7M ($0.99 per share) vs $15.5M ($0.97) in Q3 2022; full-year 2022 EPS of $3.44 is record.
Loans grew 22.9% annualized; net interest margin (TE) 3.80% vs 3.92% linked quarter and 3.16% YoY.
Provision for loan losses fell to $525K from $1.6M in Q3; nonperforming assets declined to $8.6M from $10.0M YoY.
Declared quarterly dividend of $0.20 per share, payable Feb 20 to holders of record Feb 10.
Agreed to acquire Brunswick Bancorp for ~$53.9M (cash and stock), expanding into central New Jersey.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MID PENN BANCORP INC reported the year ended December 31, 2022 results: net income $54.8 million, EPS $3.44 per common share.

Period: the year ended December 31, 2022
Net income: $54.8 million
EPS: $3.44 per common share
Result: reported results

Exact text from the filing

For the year, we generated net income available to common shareholders of $54.8 million, or $3.44 per common share, which compares favorably to the $29.3 million, or $2.71 per common share, for the year ended December 31, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MID PENN BANCORP INC reported the quarter ended December 31, 2022 results: net income $15.7 million, EPS $0.99 per common share basic and diluted.

Period: the quarter ended December 31, 2022
Net income: $15.7 million
EPS: $0.99 per common share basic and diluted
Result: reported results

Exact text from the filing

Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended December 31, 2022 of $15.7 million, or $0.99 per common share basic and diluted.

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MID PENN BANCORP INC filing history →

Source: SEC EDGAR

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