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Jun 30, 2024
Mid Penn Bancorp Q2 2024 Earnings Report
Reported a second quarter earnings beat and declared the 55th consecutive quarterly dividend.
Key Takeaways
Mid Penn Bancorp reported a strong second quarter with net income available to common shareholders increasing by 143.4% to $11.8 million, or $0.71 per diluted common share, exceeding consensus estimates. The company saw growth in loans and deposits, an increase in net interest margin, and a decrease in nonperforming assets.
Net income available to common shareholders increased 143.4% to $11.8 million, or $0.71 per diluted common share.
Loan growth for the second quarter of 2024 was $47.1 million, or 4.4% (annualized).
Deposits increased $122.6 million, or 11.3% (annualized), during the second quarter of 2024.
Net interest margin increased to 3.12% for the quarter ended June 30, 2024.
Mid Penn Bancorp
Mid Penn Bancorp
Forward Guidance
The press release does not contain specific forward guidance. It expresses management's confidence and strategies regarding programs, products, relationships, opportunities, technology, and market conditions.