MID PENN BANCORP INC (MPB): M&A transaction — Mid Penn Bancorp completes $120M all-stock acquisition of William Penn Bancorporation

MID PENN BANCORP INC

Acquired William Penn for ~3.6M shares; exchange ratio 0.426 MPB per WMPB share.
Combined entity has ~$6.3B in total assets; expands Mid Penn's footprint into Philadelphia metro and Southern NJ.
Kenneth Stephon appointed to Mid Penn and Mid Penn Bank boards as Chief Corporate Development Officer and Vice Chairman.
Stephon employment: $400K base salary, $900K retention bonus over 3 years, $50K annual deferred comp contribution.
William Penn Bank merged into Mid Penn Bank; transaction closed April 30, 2025.

item 2.01 item 5.02 item 9.01

Executive movements

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Appointed

Kenneth J. Stephon

Chief Corporate Development Officer and Vice-Chairman of the Board of Directors of Mid Penn Bank

MPB · MID PENN BANCORP INC

Effective: 2025-04-30
Filed: May 1, 2025, 7:59 PM ET

Additionally, Mid Penn and Mid Penn Bank entered into a three-year employment agreement with Mr. Stephon, which agreement became effective at the Effective Time, and pursuant to which Mr. Stephon will serve as Chief Corporate Development Officer of Mid Penn and Mid Penn Bank and Vice-Chairman of the Board of Directors of Mid Penn Bank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kenneth J. Stephon was appointed as Chief Corporate Development Officer and Vice-Chairman of the Board of Directors of Mid Penn Bank at MID PENN BANCORP INC.

Action: appointed
Role: Chief Corporate Development Officer and Vice-Chairman of the Board of Directors of Mid Penn Bank

Exact text from the filing

Additionally, Mid Penn and Mid Penn Bank entered into a three-year employment agreement with Mr. Stephon, which agreement became effective at the Effective Time, and pursuant to which Mr. Stephon will serve as Chief Corporate Development Officer of Mid Penn and Mid Penn Bank and Vice-Chairman of the Board of Directors of Mid Penn Bank.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MID PENN BANCORP INC completed an acquisition involving William Penn Bancorporation for approximately $120 million (closed 2025-04-30).

Action: acquisition
Counterparty: William Penn Bancorporation
Consideration: approximately $120 million
Closing: 2025-04-30

Exact text from the filing

Penn’s banking subsidiary, William Penn Bank, has been merged with and into Mid Penn’s subsidiary bank, Mid Penn Bank. The all-stock transaction was valued at approximately $120 million and will extend Mid Penn’s footprint into the Greater Philadelphia and Southern New Jersey regions. The consolidated assets of the combined company total approximately $6.3

View on SEC.gov

23 m&a transactions filed in the last 30 days. Browse all m&a transactions →

MID PENN BANCORP INC filing history →

Source: SEC EDGAR

accession 0001193125-25-108815

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