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Dec 31, 2019
Mid Penn Bancorp Q4 2019 Earnings Report
Reported annual earnings and declared both a quarterly and annual dividend.
Key Takeaways
Mid Penn Bancorp reported net income to common shareholders for the quarter ended December 31, 2019, of $4,408,000, or $0.52 per common share basic and diluted, compared to earnings of $4,585,000, or $0.54 per common share basic and diluted for the quarter ended December 31, 2018.
Favorable operating results reflected success in building shareholder value and providing a favorable cash return through dividends.
Performance reflects sound organic commercial loan growth and related increases in net interest income.
Success in growing retail deposits and reducing the level of higher-cost wholesale borrowings and funding sources.
Significant increases in noninterest income from mortgage banking, SBA lending, and trust and wealth management activities.
Mid Penn Bancorp
Mid Penn Bancorp
Forward Guidance
Mid Penn looks forward to 2020 with the intent to further take advantage of our larger scale and expanded products and services to deliver continued accretive earnings and increasing value for our dedicated shareholders.