Quarterly ResultAug 6, 2026, 04:33 PM
Mid Penn Q2 Net Income $21.7M, EPS $0.86; Driven by Acquisitions
AI Summary
Mid Penn Bancorp reported a significant increase in net income and EPS for the second quarter of 2026, largely driven by strategic acquisitions. Net income surged to $21.7 million, up 355.5% year-over-year, with basic EPS reaching $0.86. The company's total assets, net loans, and total deposits also saw substantial growth, reflecting the impact of the Cumberland Advisors and 1st Colonial Bancorp acquisitions completed earlier in the year.
Key Highlights
- Net income for Q2 2026 increased by 355.5% to $21.7 million from $4.8 million in Q2 2025.
- Basic EPS for Q2 2026 rose by 290.9% to $0.86 from $0.22 in Q2 2025.
- Total Assets grew by 15.1% to $7.06 billion as of June 30, 2026, from $6.13 billion at December 31, 2025.
- Net Loans increased by 15.5% to $5.58 billion as of June 30, 2026, from $4.83 billion at December 31, 2025.
- Total Deposits increased by 14.2% to $5.95 billion as of June 30, 2026, from $5.21 billion at December 31, 2025.
- Net Interest Income for Q2 2026 increased by 35.4% to $65.3 million from $48.2 million in Q2 2025.
- Completed the acquisition of Cumberland Advisors, Inc. on January 1, 2026, adding $2.8 billion in assets under management.
- Completed the acquisition of 1st Colonial Bancorp, Inc. on February 27, 2026, contributing $3.8 million in Q2 revenue.
Price Impact
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