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Dec 31, 2021
Mid Penn Bancorp Q4 2021 Earnings Report
Mid Penn Bancorp's fourth quarter earnings were impacted by the acquisition of Riverview, with a 12 percent increase in earnings for the year despite merger-related costs.
Key Takeaways
Mid Penn Bancorp reported net income of $607,000 for the fourth quarter of 2021, or $0.05 per share, compared to $9,011,000, or $1.07 per share for the same quarter in 2020. The results were impacted by merger and acquisition expenses and post-acquisition restructuring expenses related to the acquisition of Riverview Financial Corporation.
Fourth quarter earnings were impacted by the successful completion of the acquisition of Riverview.
The company managed a 12 percent increase in earnings for the year despite merger-related and restructuring costs.
Total loans increased due to the Riverview acquisition and organic loan growth.
The Board of Directors declared a $0.20 dividend per common share.