Mid Penn ( (MPB) ) has released its Q2 earnings. Here is a breakdown of the information Mid Penn presented to its investors.
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Mid Penn Bancorp, Inc., a financial services company based in Harrisburg, Pennsylvania, operates primarily in the banking sector through its subsidiaries Mid Penn Bank and MPB Financial Services, LLC.
In its latest earnings report for the second quarter of 2025, Mid Penn Bancorp announced a net income of $4.8 million, or $0.22 per diluted common share, a significant decrease from $11.8 million, or $0.71 per diluted common share, in the same quarter of the previous year. However, when excluding non-recurring expenses, the adjusted earnings per share were $0.70, surpassing analyst expectations.
The company completed the acquisition of William Penn Bancorporation, adding $757.3 million in total assets, and acquired Charis Insurance Group, expanding its insurance services. Despite a decrease in organic loan growth, Mid Penn saw a substantial increase in deposits by $717.5 million during the quarter. The net interest margin improved to 3.44%, and the core efficiency ratio saw a slight improvement to 62.56%.
Looking forward, Mid Penn’s management remains cautiously optimistic about the remainder of 2025, expecting improvements in loan demand and deposit growth. The company continues to focus on integrating recent acquisitions and enhancing its financial performance.