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Dec 31, 2022
Mid Penn Bancorp Q4 2022 Earnings Report
Reported net income of $15.7 million, or $0.99 per common share basic and diluted, for the quarter ended December 31, 2022.
Key Takeaways
Mid Penn Bancorp, Inc. reported a net income of $15.7 million, or $0.99 per common share, for the fourth quarter of 2022. This compares favorably to the $607 thousand, or $0.05 per common share, generated in the fourth quarter of 2021, and the $15.5 million, or $0.97 per common share, generated in the third quarter of 2022.
Earnings increased $238 thousand to $15.7 million, or 1.5%, for the quarter ended December 31, 2022 compared to $15.5 million for the quarter ended September 30, 2022.
Tax equivalent net interest margin was 3.80% compared to 3.92% in the prior quarter and 3.16% in the fourth quarter of 2021.
Loans and leases, net grew 22.9% (annualized) during the three months ended December 31, 2022 from the third quarter of 2022.
Return on average assets was 1.42% for the quarter ended December 31, 2022.
Forward Guidance
Mid Penn announced its entry into an agreement and plan of merger with Brunswick Bancorp. The acquisition will result in a meaningful expansion for Mid Penn into the attractive central New Jersey market. Mid Penn will acquire Brunswick in a combination cash and stock transaction valued at approximately $53.9 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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