MID PENN BANCORP INC
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
MPB$34.78-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
| MID PENN BANCORP, INC. | Consolidated Statements of Income |
|---|
| Years Ended December 31, | |||
|---|---|---|---|
| (In thousands, except per share data) | 2023 | 2022 | 2021 |
| INTEREST INCOME | |||
| Loans, including fees | $218,060 | $150,256 | $118,776 |
| Investment securities: | |||
| Taxable | 16,005 | 11,952 | 2,602 |
| Tax-exempt | 1,540 | 1,497 | 1,122 |
| Other interest-bearing balances | 361 | 69 | 13 |
| Federal funds sold | 373 | 1,826 | 809 |
| Total Interest Income | 236,339 | 165,600 | 123,322 |
| INTEREST EXPENSE | |||
| Deposits | 79,295 | 14,144 | 11,327 |
| Short-term borrowings | 7,087 | 441 | 539 |
| Long-term and subordinated debt | 2,984 | 3,182 | 2,888 |
| Total Interest Expense | 89,366 | 17,767 | 14,754 |
| Net Interest Income | 146,973 | 147,833 | 108,568 |
| Provision for credit losses - loans | 3,295 | 4,300 | 2,945 |
| Net Interest Income After Provision for Credit Losses - Loans | 143,678 | 143,533 | 105,623 |
| NONINTEREST INCOME | |||
| Fiduciary and wealth management | 5,059 | 5,071 | 2,494 |
| ATM debit card interchange | 4,019 | 4,362 | 2,688 |
| Service charges on deposits | 1,943 | 2,078 | 991 |
| Mortgage banking | 1,353 | 1,607 | 10,314 |
| Mortgage hedging | 324 | 1,471 | 64 |
| Net gain on sales of SBA loans | 571 | 262 | 969 |
| Earnings from cash surrender value of life insurance | 1,112 | 1,013 | 358 |
| Net gain on sales of investment activities | — | — | 79 |
| Other | 5,627 | 7,793 | 3,576 |
| Total Noninterest Income | 20,008 | 23,657 | 21,533 |
| NONINTEREST EXPENSE | |||
| Salaries and employee benefits | 59,345 | 52,601 | 41,711 |
| Software licensing and utilization | 7,927 | 7,524 | 6,332 |
| Occupancy, net | 7,349 | 6,900 | 5,527 |
| Equipment | 5,121 | 4,493 | 3,101 |
| Shares tax | 2,713 | 2,786 | 800 |
| Legal and professional fees | 2,945 | 2,761 | 1,979 |
| ATM/card processing | 2,108 | 2,139 | 1,053 |
| Intangible amortization | 1,780 | 2,012 | 1,180 |
| FDIC Assessment | 3,500 | 1,594 | 1,888 |
| Gain on sale of foreclosed assets, net | (144) | (133) | (25) |
| Merger and acquisition | 5,544 | 294 | 3,067 |
| Post-acquisition restructuring | 2,952 | 329 | 9,880 |
| Other | 17,852 | 16,543 | 14,612 |
| Total Noninterest Expense | 118,992 | 99,843 | 91,105 |
| INCOME BEFORE PROVISION FOR INCOME TAXES | 44,694 | 67,347 | 36,051 |
| Provision for income taxes | 7,297 | 12,541 | 6,732 |
| NET INCOME AVAILABLE TO COMMON SHAREHOLDERS | $37,397 | $54,806 | $29,319 |
| PER COMMON SHARE DATA: | |||
| Basic Earnings Per Common Share | $2.29 | $3.44 | $2.71 |
| Diluted Earnings Per Common Share | $2.29 | $3.44 | $2.71 |
| Weighted-average basic shares outstanding | 16,319,006 | 15,912,877 | 10,806,009 |
| Weighted-average diluted shares outstanding | 16,350,963 | 15,934,635 | 10,819,579 |
The accompanying notes are an integral part of these Consolidated Financial Statements
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