1st Colonial Bancorp shareholders approve acquisition by Mid Penn Bancorp

Mid Penn Bancorp (MPB) and 1st Colonial Bancorp (FCOB) announced that shareholders from 1st Colonial approved Mid Penn’s proposed acquisition of 1st Colonial at a special meeting of 1st Colonial’s shareholders. Of the total number of votes received, over 99% of 1st Colonial shares voted in favor of the merger proposal. The merger will extend Mid Penn’s footprint into the Greater Philadelphia area market, and will expand its presence in Southeastern Pennsylvania and Southern New Jersey. Mid Penn, on a pro forma basis following completion of the merger, is expected to have approximately $7.5B in assets as of March 31.