Mid Penn to acquire William Penn in all-stock deal valued at ~$127M

MID PENN BANCORP INC

Exchange ratio: 0.4260 MPB shares per WMPN share; implied ~$13.58/share based on MPB close of $31.88.
Transaction value ~$127M; expected close in first half 2025; unanimous board approval.
William Penn had $812M assets, $465M loans, $630M deposits (9/30/24); combined entity ~$6.3B assets.
Ken Stephon (WMPN CEO) to join Mid Penn board as Vice Chair of Mid Penn Bank.
Termination fee of $4.9M payable by WMPN under certain conditions; affiliate letters cover ~9.2% of WMPN shares.

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