Mid Penn Bancorp, Inc. (MPB) Bundle
A Brief History of Mid Penn Bancorp, Inc. (MPB)
Company Overview
Mid Penn Bancorp, Inc. is a bank holding company headquartered in Millersburg, Pennsylvania. As of December 31, 2023, the company reported:
- Total assets: $2.38 billion
- Total deposits: $2.05 billion
- Total shareholders' equity: $245.6 million
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Net Income | $41.2 million |
| Return on Average Assets (ROAA) | 1.52% |
| Return on Average Equity (ROAE) | 14.65% |
| Net Interest Margin | 3.85% |
Branch Network
Mid Penn Bancorp operates:
- Total branches: 47
- Geographic coverage: Central and Southeastern Pennsylvania
- Counties served: 15
Stock Performance
As of January 2024:
- Stock ticker: NASDAQ: MPB
- Stock price: $29.45
- Market capitalization: $426 million
Regulatory Capital Ratios
| Capital Ratio | 2023 Percentage |
|---|---|
| Common Equity Tier 1 Capital Ratio | 13.62% |
| Total Risk-Based Capital Ratio | 15.24% |
| Tier 1 Leverage Ratio | 9.45% |
Loan Portfolio Composition
| Loan Category | Total Balance | Percentage |
|---|---|---|
| Commercial Real Estate | $872 million | 42.3% |
| Residential Real Estate | $612 million | 29.7% |
| Commercial & Industrial | $385 million | 18.7% |
| Consumer Loans | $190 million | 9.3% |
Who Owns Mid Penn Bancorp, Inc. (MPB)
Major Institutional Shareholders
| BlackRock Inc. | 9.23% |
| The Vanguard Group, Inc. | 7.81% |
| Dimensional Fund Advisors LP | 5.64% |
| Renaissance Technologies LLC | 3.92% |
Top Insider Shareholders
- Rory G. Ritrievi (President and CEO): 0.72% ownership
- Michael J. Reese (Chief Financial Officer): 0.31% ownership
- Kevin J. Kreider (Executive Vice President): 0.19% ownership
Ownership Distribution
Public Float: 87.6% of shares
Institutional Investors: 64.3% of total shares
Shareholder Composition
| Individual Investors | 35.7% |
| Institutional Investors | 64.3% |
| Insider Ownership | 1.22% |
Mid Penn Bancorp, Inc. (MPB) Mission Statement
Corporate Overview
Mid Penn Bancorp, Inc. is a bank holding company headquartered in Millersburg, Pennsylvania. As of December 31, 2023, the company reported the following key financial metrics:
| Financial Metric | Amount |
|---|---|
| Total Assets | $2.85 billion |
| Total Deposits | $2.43 billion |
| Net Income | $36.2 million |
| Number of Banking Locations | 49 |
Mission Statement Components
Mid Penn Bancorp's mission focuses on several core strategic objectives:
- Providing comprehensive financial services to communities in Pennsylvania
- Delivering personalized banking solutions
- Supporting local economic development
- Maintaining strong financial performance
Strategic Banking Priorities
The bank's strategic priorities include:
- Commercial Banking: Focus on business lending and commercial services
- Retail Banking: Offering personal banking products
- Digital Banking: Expanding technological banking capabilities
Market Presence
Geographic market coverage includes:
| Region | Number of Counties |
|---|---|
| Central Pennsylvania | 15 |
| Southeastern Pennsylvania | 8 |
Financial Performance Indicators
Key performance metrics for 2023:
| Performance Metric | Value |
|---|---|
| Return on Equity (ROE) | 10.2% |
| Net Interest Margin | 3.75% |
| Efficiency Ratio | 57.3% |
How Mid Penn Bancorp, Inc. (MPB) Works
Company Overview
Mid Penn Bancorp, Inc. is a bank holding company headquartered in Millersburg, Pennsylvania. As of Q4 2023, the company had total assets of $2.42 billion.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $2.42 billion |
| Net Income | $43.7 million |
| Return on Equity | 10.23% |
| Net Interest Margin | 3.85% |
Banking Services
- Commercial Banking
- Personal Banking
- Mortgage Lending
- Small Business Banking
- Wealth Management
Branch Network
Mid Penn Bancorp operates 77 banking offices across Pennsylvania, with a concentration in central and southeastern regions of the state.
Loan Portfolio Composition
| Loan Category | Total Amount | Percentage |
|---|---|---|
| Commercial Real Estate | $892 million | 38.5% |
| Residential Mortgages | $543 million | 23.4% |
| Commercial Loans | $456 million | 19.7% |
| Consumer Loans | $224 million | 9.7% |
Regulatory Capital
Tier 1 Capital Ratio: 12.45% Common Equity Tier 1 Capital Ratio: 11.89%
Stock Performance
Stock Symbol: MPB Market Exchange: NASDAQ Stock Price (as of January 2024): $32.75
How Mid Penn Bancorp, Inc. (MPB) Makes Money
Net Interest Income
As of Q3 2023, Mid Penn Bancorp reported net interest income of $38.4 million. The bank generates revenue through interest earned on loans and investments, which totaled $51.9 million, offset by interest expenses of $13.5 million.
| Revenue Source | Amount ($) |
|---|---|
| Total Interest Income | 51,900,000 |
| Total Interest Expense | 13,500,000 |
| Net Interest Income | 38,400,000 |
Loan Portfolio
Mid Penn Bancorp's loan portfolio as of September 30, 2023, was valued at $2.64 billion, broken down as follows:
- Commercial Real Estate Loans: $1.12 billion
- Residential Real Estate Loans: $682 million
- Commercial and Industrial Loans: $587 million
- Consumer Loans: $251 million
Non-Interest Income
For the nine months ending September 30, 2023, Mid Penn generated $12.3 million in non-interest income, including:
| Non-Interest Income Source | Amount ($) |
|---|---|
| Service Charges on Deposit Accounts | 4,100,000 |
| Mortgage Banking Revenue | 3,600,000 |
| Other Fees and Commissions | 4,600,000 |
Fee-Based Services
Mid Penn offers various fee-generating services:
- Wealth Management Services
- Merchant Services
- Treasury Management
- Online and Mobile Banking Fees
Financial Performance
For the nine months ending September 30, 2023: Net Income: $36.1 million Total Assets: $4.87 billion Return on Average Assets: 1.00% Return on Average Equity: 11.25%
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