MPBMEDIUM SIGNALFINANCIAL10-K

Mid Penn Bancorp shows strong growth fundamentals with 13.8% net income increase and balance sheet expansion, but faces significant headwinds from a 403% spike in interest expense and 593% surge in credit loss provisions.

The dramatic increase in interest expense signals meaningful pressure from the rising rate environment on funding costs, while the substantial jump in credit loss provisions suggests emerging asset quality concerns that warrant close monitoring. Despite these challenges, the company maintained profitable growth with expanding deposits and equity, indicating resilient underlying business performance.

Comparing 2026-03-12 vs 2025-03-13View on EDGAR →
FINANCIAL ANALYSIS

Mid Penn delivered solid top-line growth with total assets expanding 12.1% to $6.1B and deposits growing 11.2% to $5.2B, supporting a 13% increase in net interest income and 13.8% net income growth. However, the company faces significant margin pressure from interest expense surging 403% to $89.4M and substantially increased credit provisions jumping 593% to $2.9M, indicating both funding cost challenges and emerging credit concerns. The strengthened balance sheet with 24.3% equity growth and improved operating cash flows provides some cushion, but the dramatic expense increases suggest profitability headwinds ahead.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+596.6%
$323K→$2.3M

Share repurchases increased 596.6% — management returning capital, signals confidence in intrinsic value.

Provision for Credit Losses
P&L
+592.9%
$425K→$2.9M

Credit loss provisions surged 592.9% — management flagging significant deterioration in loan quality ahead.

Interest Expense
P&L
+403%
$17.8M→$89.4M

Interest expense surged 403% — significant debt increase or rising rates materially impacting earnings.

Operating Cash Flow
Cash Flow
+55.7%
$51.4M→$80.0M

Operating cash flow surged 55.7% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+34.4%
$9.9M→$13.3M

Cash position surged 34.4% — strong cash generation or capital raise providing significant financial cushion.

Stockholders Equity
Balance Sheet
+24.3%
$655.0M→$814.1M

Equity base grew 24.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Income
P&L
+13.8%
$49.4M→$56.2M

Net income grew 13.8% — bottom-line growth signals improving overall business health.

Net Interest Income
P&L
+13%
$286.6M→$323.8M

Net interest income grew 13% — benefiting from rate environment or loan book expansion.

Total Assets
Balance Sheet
+12.1%
$5.5B→$6.1B

Asset base grew 12.1% — expansion through organic growth, acquisitions, or capital deployment.

Total Deposits
Balance Sheet
+11.2%
$4.7B→$5.2B

Deposits grew 11.2% — expanding customer base or increased trust in the institution.

LANGUAGE CHANGES
NEW — 2026-03-12
PRIOR — 2025-03-13
ADDED
30, 2025, the last business day of the registrant s most recently completed second quarter was approximately $ 604.5 million.
As of February 28, 2026, the registrant had 23,176,156 shares of common stock outstanding, par value $1.00 per share.
GLOSSARY OF DEFINED ACRONYMS AND TERMS 1st Colonial 1st Colonial Bancorp, Inc.
NASDAQ Major stock exchange where the Corporation's shares are traded NOL Net operating loss 3 MID PENN BANCORP, INC.
OBS Off-Balance Sheet OCI Other Comprehensive Income OREO Other Real Estate Owned PCD Purchased Credit Deteriorated PCL Provision for Credit Losses - Loans PD Probability of Default Phoenix Phoenix Bancorp, Inc.
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REMOVED
30, 2024, the last business day of the registrant s most recently completed second quarter was approximately $ 389.4 million.
As of February 28, 2025, the registrant had 19,355,997 shares of common stock outstanding, par value $1.00 per share.
FOMC Federal Open Market Committee FTE Fully taxable-equivalent GAAP Accounting principles generally accepted in the United States of America GDP Gross domestic product HFS Held for Sale HTM Held to Maturity LGD Loss Given Default LHFI Loans held for investment LIHTC Low-Income Housing Tax Credits Loans Loans, net of unearned income Management Discussion Management's Discussion and Analysis of Financial Condition and Results of Operations Merger Merger acquisition of William Penn Merger Agreement Agreement and Plan of Merger between Mid Penn and William Penn.
NASDAQ Major stock exchange where the Corporation's shares are traded N/M Not meaningful - (percentage changes greater than +/- 150% not considered meaningful) OBS Off-Balance Sheet OCI Other Comprehensive Income PCD Purchased Credit Deteriorated PCL Provision for Credit Losses - Loans PD Probability of Default Phoenix Phoenix Bancorp Inc.
Public Offering Underwritten public offering of 2,375,000 shares of the Corporation s common stock Riverview Riverview Financial Corporation Riverview Acquisition Merger acquisition of Riverview ROA Return on Assets ROE Return on Equity SBA Small Business Association Scottdale Scottdale Bank and Trust Company SEC Securities Exchange Commission SOFR Secured Overnight Financing Rate William Penn William Penn Bancorporation WSJP Wall Street Journal Prime 3 MID PENN BANCORP, INC.
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