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Sep 30, 2022
Mid Penn Bancorp Q3 2022 Earnings Report
Reported an increase in earnings, improved net interest margin, and experienced organic loan growth.
Key Takeaways
Mid Penn Bancorp reported a strong third quarter with a 26.4% increase in earnings to $15.5 million. The company saw significant improvement in net interest margin and continued organic loan growth. Asset quality remained strong, and the Board declared a quarterly cash dividend of $0.20 per share.
Earnings increased by $3.2 million, or 26.4%, to $15.5 million.
Tax equivalent net interest margin increased 47 basis points to 3.92%.
Organic loans grew 17.8% annualized during the quarter.
Return on average assets was 1.42%.
Mid Penn Bancorp
Mid Penn Bancorp
Forward Guidance
The statements are valid only as of the date hereof and Mid Penn disclaims any obligation to update this information.