Mid Penn Bancorp Q2 net income $4.8M ($0.29 EPS); adjusted EPS $0.68; completed Brunswick acquisition

MID PENN BANCORP INC

2023-Q2 EPS reported $1.00

Q2 net income available to common $4.8M ($0.29 diluted EPS); adjusted net income $11.1M ($0.68 adjusted EPS) excluding $6.3M after-tax merger costs.
Completed Brunswick Bancorp acquisition on May 19, adding $391.9M assets, $324.8M loans; paid $25.6M cash + 849,510 shares.
Organic deposit growth of $126.0M (13% annualized) and organic loan growth of $98.3M (10.9% annualized) from Q1 2023.
Declared $0.20/share quarterly dividend, payable Aug 28 to holders of record Aug 10; repurchased 204,379 shares at avg $22.41.
Net interest margin compressed to 3.29% (down 20bp from Q1) due to funding cost increases; nonperforming assets rose to $16.3M.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MID PENN BANCORP INC reported the quarter ended June 30, 2023 results: net income $4.8 million, EPS $0.29 per diluted common share.

Period: the quarter ended June 30, 2023
Net income: $4.8 million
EPS: $0.29 per diluted common share
Result: reported results

Exact text from the filing

today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2023, of $4.8 million, or $0.29 per diluted common share.

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31 earnings releases filed in the last 30 days. Browse all earnings releases →

MID PENN BANCORP INC filing history →

Source: SEC EDGAR

accession 0000879635-23-000061

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