MID PENN BANCORP INC
For the period ended Dec 31, 2024. Filed Mar 13, 2025.
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FY2024 · Filed Mar 13, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Changes in Shareholders' Equity
| MID PENN BANCORP, INC. | Consolidated Statements of Changes in Shareholders’ Equity |
|---|
| Common Stock · AdditionalPaid-inCapital · RetainedEarnings · AccumulatedOtherComprehensive (Loss) Income · TreasuryStock · TotalShareholders'Equity | |||||||
|---|---|---|---|---|---|---|---|
| (In thousands, except per share data) · Shares · Amount | |||||||
| Balance, January 1, 2022 | 16,056,282 | $16,056 | $384,742 | $91,043 | $158 | $(1,923) | $490,076 |
| Net income | — | — | — | 54,806 | — | — | 54,806 |
| Total other comprehensive loss, net of taxes | — | — | — | — | (19,374) | — | (19,374) |
| Common stock cash dividends declared - $0.80 per share | — | — | — | (12,735) | — | — | (12,735) |
| Riverview restricted stock (1) | — | — | 776 | — | — | — | 776 |
| Repurchased stock (109,891 shares) | — | — | — | — | — | (2,957) | (2,957) |
| Employee Stock Purchase Plan | 7,152 | 7 | 193 | — | — | — | 200 |
| Director Stock Purchase Plan | 5,876 | 6 | 159 | — | — | — | 165 |
| Restricted stock activity | 25,176 | 25 | 1,117 | — | — | — | 1,142 |
| Balance, December 31, 2022 | 16,094,486 | $16,094 | $386,987 | $133,114 | $(19,216) | $(4,880) | $512,099 |
| Net income | — | $— | $— | $37,397 | $— | $— | $37,397 |
| Total other comprehensive income, net of taxes | — | — | — | — | 2,579 | — | 2,579 |
| Common stock cash dividends declared - $0.80 per share | — | — | — | (12,981) | — | — | (12,981) |
| Common stock issued to Brunswick shareholders (2) | 849,510 | 850 | 17,245 | — | — | — | 18,095 |
| Impact of adopting CECL (3) | — | — | — | (11,548) | — | — | (11,548) |
| Repurchased stock (216,879 shares) (4) | — | — | (37) | — | — | (4,839) | (4,876) |
| Employee Stock Purchase Plan | 13,459 | 13 | 290 | — | — | — | 303 |
| Director Stock Purchase Plan | 7,884 | 8 | 171 | — | — | — | 179 |
| Restricted stock activity | 33,590 | 34 | 1,069 | — | — | — | 1,103 |
| Balance, December 31, 2023 | 16,998,929 | $16,999 | $405,725 | $145,982 | $(16,637) | $(9,719) | $542,350 |
| Net income | — | $— | $— | $49,437 | $— | $— | $49,437 |
| Total other comprehensive loss, net of taxes | — | — | — | — | (188) | — | (188) |
| Common stock cash dividends declared - $0.80 per share | — | — | — | (13,822) | — | — | (13,822) |
| Common stock issuance (5) | 2,731,250 | 2,731 | 73,225 | — | — | — | 75,956 |
| Repurchased stock (15,500 shares) (4) | — | — | — | — | — | (323) | (323) |
| Employee Stock Purchase Plan | 19,829 | 20 | 418 | — | — | — | 438 |
| Director Stock Purchase Plan | 5,072 | 5 | 118 | — | — | — | 123 |
| Restricted stock activity | 41,439 | 42 | 1,005 | — | — | — | 1,047 |
| Balance, December 31, 2024 | 19,796,519 | $19,797 | $480,491 | $181,597 | $(16,825) | $(10,042) | $655,018 |
(1)Additionally,2,500 shares of restricted stock were paid out in cash resulting in $776 thousand of cash consideration relating to stock awards.
(2)Shares issued as a result of the acquisition of Brunswick Bancorp ("Brunswick"). See "Note 2 - Business Combinations", to the Consolidated Financial Statements for more information.
(3)The Corporation adopted ASC 326, Financial Instruments - Credit Losses, effective January 1, 2023. See "Note 1 - Summary of Significant Accounting Policies" for further details.
(4)Includes tax effects of repurchased stock.
(5)Shares issued as a result of the underwritten public offering of 2,375,000 shares of common stock at a price of $29.50 per share on November 4, 2024.
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