MID PENN BANCORP INC
For the period ended Dec 31, 2024. Filed Mar 13, 2025.
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FY2024 · Filed Mar 13, 2025
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) | 2024 | 2023 | 2022 |
| INTEREST INCOME | |||
| Loans, including fees | $265,522 | $218,060 | $150,256 |
| Investment securities: | |||
| Taxable | 16,542 | 16,005 | 11,952 |
| Tax-exempt | 1,464 | 1,540 | 1,497 |
| Other interest-bearing balances | 1,127 | 361 | 69 |
| Federal funds sold | 1,928 | 373 | 1,826 |
| Total Interest Income | 286,583 | 236,339 | 165,600 |
| INTEREST EXPENSE | |||
| Deposits | 116,320 | 79,295 | 14,144 |
| Short-term borrowings | 10,575 | 7,087 | 441 |
| Long-term and subordinated debt | 3,017 | 2,984 | 3,182 |
| Total Interest Expense | 129,912 | 89,366 | 17,767 |
| Net Interest Income | 156,671 | 146,973 | 147,833 |
| Provision for credit losses - loans | 2,144 | 3,295 | 4,300 |
| (Benefit)/Provision for credit losses - CCL | (628) | 404 | — |
| Net Interest Income After Provision for Credit Losses | 155,155 | 143,274 | 143,533 |
| NONINTEREST INCOME | |||
| Fiduciary and wealth management | 4,680 | 5,059 | 5,071 |
| ATM debit card interchange | 3,851 | 4,019 | 4,362 |
| Service charges on deposits | 2,176 | 1,943 | 2,078 |
| Mortgage banking | 2,476 | 1,353 | 1,607 |
| Mortgage hedging | 10 | 324 | 1,471 |
| Net gain on sales of SBA loans | 347 | 571 | 262 |
| Earnings from cash surrender value of life insurance | 1,141 | 1,112 | 1,013 |
| Other | 7,812 | 5,627 | 7,793 |
| Total Noninterest Income | 22,493 | 20,008 | 23,657 |
| NONINTEREST EXPENSE | |||
| Salaries and employee benefits | 64,098 | 59,345 | 52,601 |
| Software licensing and utilization | 9,300 | 7,927 | 7,524 |
| Occupancy, net | 7,571 | 7,349 | 6,900 |
| Equipment | 4,928 | 5,121 | 4,493 |
| Shares tax | 2,350 | 2,713 | 2,786 |
| Legal and professional fees | 4,306 | 2,945 | 2,761 |
| ATM/card processing | 2,284 | 2,108 | 2,139 |
| Intangible amortization | 1,784 | 1,780 | 2,012 |
| FDIC Assessment | 4,170 | 3,500 | 1,594 |
| Loss (Gain) on sale of foreclosed assets, net | 80 | (144) | (133) |
| Merger and acquisition | 545 | 5,544 | 294 |
| Post-acquisition restructuring | — | 2,952 | 329 |
| Other | 16,200 | 17,448 | 16,543 |
| Total Noninterest Expense | 117,616 | 118,588 | 99,843 |
| INCOME BEFORE PROVISION FOR INCOME TAXES | 60,032 | 44,694 | 67,347 |
| Provision for income taxes | 10,595 | 7,297 | 12,541 |
| NET INCOME AVAILABLE TO COMMON SHAREHOLDERS | $49,437 | $37,397 | $54,806 |
| PER COMMON SHARE DATA: | |||
| Basic Earnings Per Common Share | $2.90 | $2.29 | $3.44 |
| Diluted Earnings Per Common Share | $2.90 | $2.29 | $3.44 |
| Weighted-average basic shares outstanding | 17,026,240 | 16,319,006 | 15,912,877 |
| Weighted-average diluted shares outstanding | 17,070,862 | 16,350,963 | 15,934,635 |
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