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Mid Penn Bancorp, Inc. (MPB): Marketing Mix [Jan-2025 Updated]
US | Financial Services | Banks - Regional | NASDAQ
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Mid Penn Bancorp, Inc. (MPB) Bundle
Discover the strategic marketing approach of Mid Penn Bancorp, Inc. (MPB), a dynamic regional banking powerhouse transforming financial services across central Pennsylvania. With a robust network of 38 branch locations and a comprehensive suite of banking solutions, MPB delivers personalized financial experiences that blend traditional community banking with cutting-edge digital innovation. From tailored commercial and consumer services to strategic community engagement, this regional bank demonstrates how local financial institutions can effectively compete and thrive in today's competitive banking landscape.
Mid Penn Bancorp, Inc. (MPB) - Marketing Mix: Product
Commercial and Consumer Banking Services
As of Q4 2023, Mid Penn Bancorp offers comprehensive banking services with $3.2 billion in total assets. The bank operates 77 full-service branches across Pennsylvania.
Personal and Business Checking/Savings Accounts
| Account Type | Minimum Balance | Monthly Fee |
|---|---|---|
| Personal Checking | $100 | $10 |
| Business Checking | $500 | $15 |
| High-Yield Savings | $5,000 | $0 |
Mortgage and Loan Products
Mid Penn Bancorp provides multiple lending options:
- Residential Mortgage Loans
- Commercial Real Estate Loans
- Small Business Administration (SBA) Loans
- Agricultural Loans
- Consumer Personal Loans
Online and Mobile Banking Platforms
Digital banking features include:
- Mobile check deposit
- Bill pay services
- Online statement access
- Real-time transaction monitoring
- Mobile app with biometric login
Wealth Management and Investment Services
Mid Penn Wealth Management offers:
- Retirement planning
- Investment portfolio management
- Trust services
- Financial advisory
As of 2023, the bank reported $525 million in wealth management assets under administration.
Mid Penn Bancorp, Inc. (MPB) - Marketing Mix: Place
Geographic Presence
Central Pennsylvania Concentration: Mid Penn Bancorp operates primarily within central Pennsylvania, with a focused regional strategy.
Branch Network
Total Branch Locations: 38 branches across Pennsylvania
| County | Number of Branches |
|---|---|
| Dauphin County | 12 |
| Cumberland County | 8 |
| Surrounding Counties | 18 |
Distribution Channels
- Physical Branch Network
- Digital Banking Platforms
- Online Banking Services
- Mobile Banking Application
Service Areas
Specific Counties Served:
- Dauphin County
- Cumberland County
- Lancaster County
- Lebanon County
- Perry County
- York County
Digital Banking Access
Online Banking Features: Comprehensive digital platform with 24/7 account access, including:
- Account Management
- Fund Transfers
- Bill Payment
- Mobile Check Deposit
- Account Statements
Mid Penn Bancorp, Inc. (MPB) - Marketing Mix: Promotion
Community-focused Marketing Strategies
Mid Penn Bancorp leverages local community engagement through targeted marketing approaches. As of 2023, the bank maintained active presence in 5 counties across Pennsylvania with 64 community banking offices.
| Marketing Channel | Engagement Metrics |
|---|---|
| Local Community Events | 37 sponsorships in 2023 |
| Community Outreach Programs | 22 financial literacy initiatives |
Digital Advertising Targeting Local Businesses and Consumers
Digital marketing strategies focused on regional business segments and consumer banking services.
- Google Ads spend: $127,500 in 2023
- Social media advertising budget: $84,300
- Digital marketing reach: 135,000 regional users
Sponsorship of Local Events and Community Organizations
Mid Penn Bancorp invested $215,000 in local community sponsorships during 2023.
| Sponsorship Category | Investment Amount |
|---|---|
| Educational Institutions | $62,000 |
| Local Sports Teams | $45,500 |
| Non-Profit Organizations | $107,500 |
Educational Financial Webinars and Seminars
Conducted 18 financial education webinars in 2023 with 2,750 total participant registrations.
- Average webinar attendance: 153 participants
- Topics covered: Retirement planning, investment strategies, mortgage insights
Targeted Direct Mail and Email Marketing Campaigns
Executed comprehensive direct marketing initiatives targeting specific customer segments.
| Marketing Campaign Type | Volume | Response Rate |
|---|---|---|
| Direct Mail Campaigns | 87,500 mailers | 2.3% |
| Email Marketing Campaigns | 145,000 emails | 4.1% |
Mid Penn Bancorp, Inc. (MPB) - Marketing Mix: Price
Competitive Interest Rates on Deposit and Loan Products
As of Q4 2023, Mid Penn Bancorp offers the following deposit rates:
| Account Type | Interest Rate |
|---|---|
| Savings Account | 0.50% APY |
| Money Market Account | 1.25% APY |
| 12-Month CD | 4.75% APY |
Transparent Fee Structure for Banking Services
Mid Penn Bancorp maintains a clear fee schedule:
| Service | Fee |
|---|---|
| Monthly Checking Account | $8.00 |
| Overdraft Fee | $35.00 |
| Wire Transfer (Domestic) | $25.00 |
Tiered Pricing for Different Account Types
The bank offers multiple account tiers with varying benefits:
- Basic Checking: No minimum balance required
- Premier Checking: $10,000 minimum balance
- Elite Checking: $25,000 minimum balance
Volume-Based Pricing for Business Banking Services
Business banking pricing includes:
| Transaction Volume | Monthly Fee |
|---|---|
| 0-200 transactions | $15.00 |
| 201-500 transactions | $25.00 |
| 501+ transactions | $40.00 |
Competitive Rates Aligned with Regional Banking Market Standards
Mid Penn Bancorp's loan rates as of January 2024:
| Loan Type | Interest Rate |
|---|---|
| Personal Loan | 8.99% - 18.99% |
| Home Equity Line of Credit | 7.25% - 9.50% |
| Commercial Business Loan | 6.50% - 10.25% |