Loading...
Docoh

Mid Penn Bancorp (MPB)

Mid Penn Bancorp Inc. , headquartered in Millersburg, Pennsylvania, has been serving the community since 1868. Mid Penn Bank operates retail locations throughout the state of Pennsylvania and has total assets of more than $3 billion. Its footprint includes Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill and Westmoreland counties. The Bank offers a comprehensive portfolio of products and services to meet the banking needs of the communities it serves.

Company profile

Ticker
MPB
Exchange
CEO
Rory G. Ritrievi
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
MPB Financial Services Group LLC • MPB Wealth Management LLC • MPB Risk Services LLC ...
IRS number
251666413

MPB stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Aug 22 Theodore W Mowery Mid Penn Bancorp, Inc. Common Stock Buy Acquire P Yes No 28.9472 5,000 144.74K 12,939.438
1 Aug 22 Abel Robert A Mid Penn Bancorp, Inc. Common Stock Buy Acquire P Yes No 28.78 3,000 86.34K 19,082.015
30 Jun 22 Soto Matthew G De Mid Penn Bancorp, Inc. Common Stock Buy Acquire P No No 26.97 279 7.52K 48,215.436
30 Jun 22 Theodore W Mowery Mid Penn Bancorp, Inc. Common Stock Buy Acquire P No No 26.97 75 2.02K 21,156.739
30 Jun 22 Gregory M Kerwin Mid Penn Bancorp, Inc. Common Stock Buy Acquire P No No 26.97 37 997.89 37,896.501
49.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 76 73 +4.1%
Opened positions 9 10 -10.0%
Closed positions 6 6
Increased positions 21 41 -48.8%
Reduced positions 27 13 +107.7%
13F shares Current Prev Q Change
Total value 221.09M 449.59M -50.8%
Total shares 7.87M 7.76M +1.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 1.1M $29.51M -1.1%
Lawrence Keister & Co 1M $32.91M 0.0%
Wellington Management 778.54K $20.87M 0.0%
Vanguard 662.47K $17.76M -0.1%
Bay Pond Partners 603.75K $19.16M 0.0%
FJ Capital Management 565.7K $15.17M -4.4%
Banc Funds 464.13K $12.44M 0.0%
Manufacturers Life Insurance Company, The 274.16K $7.35M +0.7%
Alliancebernstein 253.52K $6.8M +19.0%
Geode Capital Management 228.28K $6.12M +3.9%
Largest transactions Shares Bought/sold Change
RKL Wealth Management 54.9K +54.9K NEW
Alliancebernstein 253.52K +40.4K +19.0%
Royce & Associates 29.1K +29.1K NEW
Dimensional Fund Advisors 133.24K +28.24K +26.9%
Emerald Mutual Fund Advisers Trust 153.28K -27.22K -15.1%
FJ Capital Management 565.7K -26.3K -4.4%
JPM JPMorgan Chase & Co. 16.76K -26.23K -61.0%
Endeavour Capital Advisors 107.37K +24.25K +29.2%
Citadel Advisors 21.91K +21.91K NEW
STT State Street 205.79K +18.76K +10.0%

Financial report summary

?
Management Discussion
  • As noted above, the comparability of the results of operations for the years ended 2021 and 2020, in general, have been materially impacted by the acquisition of Riverview, which closed on November 30, 2021.
  • Mid Penn’s net income to common shareholders (earnings) for the year ended December 31, 2021 was $29,319,000 or $2.71 per common share basic and diluted, compared to earnings of $26,209,000 or $3.11 per common share basic and $3.10 per share diluted for the year ended December 31, 2020. The results for the year ended December 31, 2021 included the recognition of $21,954,000 of PPP loan processing fees generated as a result of Mid Penn’s participation in the PPP.  These PPP fees are recognized into interest income over the term of the respective loan, or sooner if the loans are forgiven by the Small Business Administration or the borrowers otherwise pay down principal prior to a loan’s stated maturity. The twelve months ended December 31, 2021 also include merger and acquisition expenses of $3,067,000 resulting from the Riverview merger, which was announced on June 30, 2021 and legally closed on November 30, 2021.  Additionally, during the fourth quarter of 2021, Mid Penn recognized non-recurring post-acquisition restructuring expenses totaling $9,880,000 consisting of (i) $2,292,000 related to branch closures as a result of the recently announced Retail Network Optimization Plan, and (ii) $7,588,000 of termination fees and severance costs in connection with the Riverview acquisition. Mid Penn also recognized other period costs related to the merger of $310,000.  
  • Total assets of Mid Penn were $4,689,425,000 as of December 31, 2021, reflecting an increase of $1,690,477,000 or 56 percent compared to total assets of $2,998,948,000 as of December 31, 2020.  The majority of this increase reflects the assets acquired as a result of the Riverview merger on November 30, 2021 totaling $1,272,921,000.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Bad
New words: abroad, Allison, breadth, decision, diminished, downgraded, inflationary, Johnson, lag, legacy, overt, strategic, TE, validation
Removed: adding, America, bond, calculating, care, commenced, communication, condensed, curb, curtail, declined, deferment, deferral, depending, disregarded, distancing, eliminating, emergency, enacted, evolution, evolve, explanation, extensive, favorably, Finally, franchise, globally, health, leaseback, leveraged, mask, OTTI, ranged, rapid, regular, removed, removing, reopened, returned, reverting, safety, shown, standing, sublease, subleasing, trend, unchanged, undiscounted, warranted, World