secwatch.observer — SEC 8-K summary
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Issuer:     MID PENN BANCORP INC (MPB)
CIK:        0000879635
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000879635-23-000061
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/879635/000087963523000061/0000879635-23-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/879635/000087963523000061/mpb-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000879635-23-000061

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