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Sep 30, 2020
Mid Penn Bancorp Q3 2020 Earnings Report
Mid Penn Bancorp reported increased earnings for the third quarter, driven by net interest income and noninterest income growth.
Key Takeaways
Mid Penn Bancorp reported a net income of $6,547,000, or $0.78 per common share, for the quarter ended September 30, 2020, compared to $4,813,000, or $0.57 per common share, for the same quarter in 2019. The increase in earnings was attributed to a rise in net interest income and noninterest income.
Net income to common shareholders increased to $6,547,000, or $0.78 per share.
Net interest income increased by 20% compared to the same period last year.
Noninterest income increased by 76%, driven by mortgage banking income.
Total assets increased by 36% compared to the same period last year, reaching $3,052,935,000.
Mid Penn Bancorp
Mid Penn Bancorp
Forward Guidance
The company did not provide formal forward guidance in the earnings report.