Mid Penn Bancorp reports Q1 net income $11.2M, EPS $0.70; declares $0.20 dividend; Brunswick merger cleared

MID PENN BANCORP INC

2023-Q1 EPS reported $0.70

Net income $11.2M ($0.70 diluted EPS) vs $0.81 diluted in Q4 2022; revenue down slightly on NIM compression to 3.49%.
Loans grew 11.2% annualized, deposits 10.7% annualized; liquidity $1.36B (187% of uninsured deposits).
CECL adoption added $15M to allowance for credit losses; nonperforming assets rose to $14.1M from $8.6M.
Brunswick Bancorp merger received all regulatory and shareholder approvals; expected to close May 2023 (value ~$53.9M).
Quarterly dividend maintained at $0.20 per share, payable May 22, 2023 to holders of record May 10.

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 0.95

MID PENN BANCORP INC reported the quarter ended March 31, 2023 results: net income $11.2 million, EPS $0.71 and $0.70 per common share basic and diluted.

Period: the quarter ended March 31, 2023
Net income: $11.2 million
EPS: $0.71 and $0.70 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 March 31, 2023 of $11.2 million, or $0.71 and $0.70 per common share basic and diluted, respectively.

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Source: SEC EDGAR

accession 0000879635-23-000027

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