Mid Penn Bancorp Declares $0.22 Quarterly Dividend, Marks 62nd Consecutive Payment
Mid Penn Bancorp, Inc. (NASDAQ: MPB), a Pennsylvania-based community bank holding company, declared a quarterly cash dividend of $0.22 per common share. The payment continues the company's unbroken streak of 62 consecutive quarterly dividends.
Mid Penn Bancorp, Inc. (NASDAQ: MPB), a Pennsylvania-based community bank holding company, declared a quarterly cash dividend of $0.22 per common share on April 21, 2026. The dividend will be paid on May 15, 2026 to shareholders of record as of May 4, 2026. Read more dividend announcements.
The payment marks the company's 62nd consecutive quarterly dividend declaration, maintaining its track record of regular shareholder distributions since inception.
| Dividend Details | Information |
|---|---|
| Amount | $0.22 per share |
| Record Date | May 4, 2026 |
| Payment Date | May 15, 2026 |
| Frequency | Quarterly |
First Quarter Performance
The dividend declaration came alongside the company's first quarter 2026 earnings report. Mid Penn reported net income of $8.7 million, or $0.36 per diluted share, for the quarter ended March 31, 2026. This compares to $13.7 million, or $0.71 per diluted share, in the first quarter of 2025.
The year-over-year earnings decline reflected one-time merger and acquisition costs related to the integration of 1st Colonial and Cumberland Advisors acquisitions, plus additional non-merger expenses totaling nearly $2 million. Despite these costs, the company beat consensus analyst estimates for total revenues and pre-provision net revenues.
Total revenues reached $64.9 million in the first quarter, with pre-provision net revenues of $12.9 million. The tax-equivalent net interest margin expanded to 3.80% from 3.79% in the fourth quarter of 2025 and 3.37% in the first quarter of 2025.
Balance Sheet Growth
Total deposits stood at $6.0 billion as of March 31, 2026, up 26.2% from $4.7 billion a year earlier. Excluding the $747.1 million acquired in the 1st Colonial transaction, organic deposits grew $9.3 million, or 0.7% annualized, from December 31, 2025.
Book value per common share was $35.08 as of March 31, 2026, compared to $35.32 at December 31, 2025 and $34.50 a year earlier. Tangible book value per share declined to $27.56 from $28.76 in the prior quarter, primarily reflecting goodwill and intangible assets recorded in connection with recent acquisitions.
Share Repurchase Program Extended
Mid Penn's board also approved the renewal of the company's treasury stock repurchase program through April 30, 2027, authorizing the repurchase of up to an additional $50 million of common stock. The program allows for open market transactions or privately negotiated purchases and may be modified, suspended or terminated at any time.
Chairman, President and CEO Rory G. Ritrievi noted the company's revenue performance despite one-time expenses and highlighted the integration teams' focus on unlocking efficiencies from recent merger activity in the coming quarters.