Mid Penn Bancorp to acquire Cumberland Advisors

Mid Penn Bancorp (MPB) announced that it has entered into an agreement to acquire Sarasota, FL-based Cumberland Advisors. Cumberland recorded a year-to-date annualized revenue of $9.0 million as of the quarter ended June 30, 2025, and is expected to bring approximately $3.3 billion new assets under management to the combined company. The Company expects the transaction to be earnings-accretive immediately upon closing. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions. Upon completion of the transaction, Cumberland leadership and team members will join Mid Penn.