MPB

HARRISBURG, Pa., July 22, 2026--(BUSINESS WIRE)--Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") of $21.7 million, or $0.86 per basic common share and $0.85 per diluted common share, for the quarter ended June 30, 2026, compared to $4.8 million, or $0.22 per basic and diluted common share, for the second quarter of 2025. Earnings exceeded the consensus analyst estimate of $0.79 per diluted common share for the second quarter of 2026. Mid Penn also declared a quarterly cash dividend of $0.23 per common share, up 4.55% from the prior quarter. Key Highlights of the Second Quarter of 2026: Net income available to common shareholders for the second quarter of 2026 was $21.7 million, an increase of $16.9 million or 355.5% compared to the second quarter of 2025, and an increase of $13.0 million, or 149.2%, compared to the first quarter of 2026. The year-over-year increase reflects the William Penn and 1st Colonial acquisitions, while the linked-quarter comparison reflects a full quarter of 1st Colonial results. Earnings per basic common share for the second quarter of 2026 were $0.86 and $0.85 per diluted common share, an increase from $0.22 per both basic and diluted common share in the second quarter of 2025. Net interest margin increased to 4.06% for the quarter ended June 30, 2026, from 3.80% for the first quarter of 2026, and 3.44% for the second quarter of 2025. This represents increases of 26 and 62 basis points ("bps") compared to the first quarter of 2026 and second quarter of 2025, respectively. The increase from the second quarter of 2025 was driven by higher investment securities yields, higher loan yields, and lower funding costs. Loan balances increased $107.2 million, or 7.8% (annualized), during the second quarter of 2026 compared to the first quarter of 2026. Total loans increased $784.3 million, or 16.2%, to $5.6 billion at June 30, 2026, compared to $4.8 billion at June 30, 2025. Excluding the $597.5 million of loans acquired in the 1st Colonial acquisition, organic loan growth was $186.8 million from June 30, 2025. Deposits decreased $17.7 million, or 1.2% (annualized), during the second quarter of 2026 compared to the first quarter of 2026. Total deposits increased $503.6 million, or 9.2%, to $6.0 billion from June 30, 2025. Excluding $747.1 million of deposits from the 1st Colonial acquisition, organic deposits decreased $243.4 million, or 17.9% (annualized), from June 30, 2025, primarily reflecting the planned reduction of approximately $225 million in brokered certificates of deposit during 2025. The core efficiency ratio(1) improved to 59.82% in the second quarter of 2026, compared to 63.52% in the first quarter of 2026, and 62.56% in the second quarter of 2025. This improvement was driven by higher net interest income and disciplined management of noninterest expense following the 1st Colonial and William Penn acquisitions. Book value per common share improved to $35.62 as of June 30, 2026, compared to $35.08 as of March 31, 2026, and $33.85 as of June 30, 2025. Tangible book value per common share (1) was $28.18 as of June 30, 2026, compared to $27.56 and $27.22 as of March 31, 2026 and June 30, 2025, respectively. Mid Penn returned capital to shareholders through the repurchase of 76,000 shares of common stock during the second quarter of 2026. As a result of the foregoing, the Board of Directors declared a quarterly cash dividend of $0.23 per common share, payable on August 14, 2026, to shareholders of record as of August 3, 2026. Chair, President and CEO Rory G. Ritrievi provided the following statement: "We are pleased to share our second quarter operating performance with our shareholders. Results include earnings above consensus expectations, meaningful organic loan growth, healthy net interest margin expansion, a reduction in the efficiency ratio to below 60%, stable asset quality, and improvements in both book value and tangible book value. Comparisons to the second quarter of 2025 and the first quarter of 2026 are somewhat challenging, as both previous periods were impacted by merger and acquisition-related costs, as well as significant balance sheet expansion. However, when measured against analyst expectations and our own internal expectations, second quarter performance was favorable across nearly every key metric. During the quarter, we were also active in common stock repurchases, placing 76,000 shares into treasury and returning approximately $2.5 million to the shareholders. In light of this solid second quarter performance, the Board has also elected to increase the quarterly dividend by 4.55%, from $0.22 per share in the first quarter to $0.23 per share in the second quarter. We look forward to building on this momentum through the remainder of 2026." Net Interest Income For the three months ended June 30, 2026, net interest income was $65.3 million, compared to net interest income of $55.3 million for the three months ended March 31, 2026, and $48.2 million for the three months ended June 30, 2025. Interest income for the quarter ended June 30, 2026, includes $4.3 million of loan accretion income related to fair value marks on acquired loans, which are accreted into interest income over the expected life of the assets. The tax-equivalent net interest margin(1) for the three months ended June 30, 2026 was 4.06% compared to 3.80% and 3.44% for the first quarter of 2026 and second quarter of 2025, respectively, representing a 26 bp increase from the first quarter of 2026, and a 62 bp increase compared to the same period in 2025. The yield on interest-earning assets increased to 5.99% for the quarter ended June 30, 2026, from 5.75% and 5.69%, for the three months ended March 31, 2026, and June 30, 2025, respectively. The increase from the first quarter of 2026 was primarily due to higher yields on loans, including the impact of accretion income on acquired loans. For the six months ended June 30, 2026, net interest income increased 32.9% to $120.5 million compared to net interest income of $90.7 million for the same period of 2025. The increase was primarily driven by a $26.4 million increase in interest income on loans and a $5.0 million increase in interest income on investment securities, compared to the same period in 2025. Average Balances Average balances continue to be impacted by the 1st Colonial acquisition given that the acquisition closed on February 27, 2026. Day one increases in loans, total assets, deposits, and total liabilities were $581.8 million, $842.5 million, $746.9 million, and $751.7 million, respectively. Average loans increased $504.9 million to $5.6 billion for the quarter ended June 30, 2026, compared to $5.1 billion for the quarter ended March 31, 2026, and increased $863.5 million compared to $4.7 billion for the quarter ended June 30, 2025. Average deposits were $5.9 billion for the second quarter of 2026, an increase of $545.9 million, or 10.1%, from $5.4 billion in the first quarter of 2026 and an increase of $779.7 million, or 15.1%, from $5.2 billion for the second quarter of 2025, primarily due to the 1st Colonial and William Penn acquisitions, and organic growth. The average cost of deposits was 2.07% for the second quarter of 2026, representing a 2 bp decrease from the first quarter of 2026, and a 34 bp decrease from the second quarter of 2025. Cost of funds decreased to 2.09%, compared to 2.12% in the first quarter of 2026, primarily reflecting the repricing of higher-cost time deposits as well as a favorable shift in the funding mix, including an $82.8 million increase in noninterest-bearing deposits. Asset Quality The total provision for credit losses, including the benefit for credit losses on off-balance sheet credit exposures, was $528 thousand for the three months ended June 30, 2026, compared to the provision for credit losses of $1.6 million for the three months ended March 31, 2026, and a provision for credit losses of $2.3 million for the three months ended June 30, 2025. The quarter-over-quarter change in the provision for credit losses was primarily driven by qualitative adjustments to the CRE owner-occupied portfolio and improved macroeconomic assumptions, offset by an increase in reserve on one individually analyzed C&I loan. Credit quality remained stable during the quarter, supported by minimal net charge-offs and continued disciplined credit risk management. Net charge-offs for the three months ended June 30, 2026, were $22 thousand, or approximately 0.0004% of total average loans. The provision for credit losses on loans was $2.2 million for the six months ended June 30, 2026, a decrease of $361 thousand compared to the provision for credit losses of $2.6 million for the six months ended June 30, 2025. The decrease for the six months ended June 30, 2026 was primarily attributable to improved macroeconomic assumptions, partially offset by increases from qualitative adjustments to several segments of the portfolio. The benefit for credit losses on off-balance sheet credit exposures was $29 thousand for the three months ended June 30, 2026, compared to the provision of $24 thousand for the three months ended June 30, 2025. The benefit for credit losses on off-balance sheet credit exposures was $83 thousand for the six months ended June 30, 2026, compared to the provision of $4 thousand for the six months ended June 30, 2025. Allowance for credit losses - loans was 0.74%, 0.75%, and 0.78% of loans, net of unearned income at June 30, 2026, March 31, 2026, and June 30, 2025, respectively. Total nonperforming assets were $36.8 million at June 30, 2026, compared to nonperforming assets of $38.1 million at March 31, 2026, and $28.0 million at June 30, 2025. The decrease during the second quarter of 2026 was primarily driven by the payoff of one commercial real estate loan with a balance of $1.3 million. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.71% at June 30, 2026, compared to 0.70% and 0.58% at March 31, 2026 and June 30, 2025, respectively. Capital Shareholders’ equity increased $14.5 million, or 1.6%, to $901.9 million as of June 30, 2026, from $887.4 million as of March 31, 2026. Retained earnings increased $16.1 million, or 7.2%, from $222.2 million as of March 31, 2026 to $238.2 million as of June 30, 2026. Regulatory capital ratios for Mid Penn and the Bank indicate regulatory capital levels in excess of the regulatory minimums and the levels necessary for the Bank to be considered "well capitalized" at June 30, 2026. Additionally, Mid Penn declared $5.6 million in dividends during the second quarter of 2026. On April 21, 2026, Mid Penn’s Board of Directors authorized an increase to its treasury stock repurchase program ("the Program"), increasing the authorized repurchase amount to $50.0 million of Mid Penn’s outstanding common stock through April 30, 2027. During the second quarter of 2026, Mid Penn repurchased 76,000 shares under the program. As of June 30, 2026, Mid Penn repurchased a total of 595,891 shares of common stock at an average price of $24.82 per share under the Program. Noninterest Income For the three months ended June 30, 2026, noninterest income totaled $10.6 million, an increase of $1.0 million, or 10.2%, from $9.6 million for the first quarter of 2026. The increase was primarily driven by an $805 thousand increase in mortgage banking income, a $336 thousand increase in earnings from the cash surrender value of life insurance, and a $230 thousand increase in fiduciary and wealth management income, partially offset by a $415 thousand decrease in other noninterest income. For the six months ended June 30, 2026, noninterest income totaled $20.2 million, an increase of $8.8 million, or 77.4%, compared to noninterest income of $11.4 million for the six months ended June 30, 2025. The increase was primarily driven by a $5.0 million increase in fiduciary and wealth management income, reflecting the Cumberland Advisors acquisition, a $981 thousand increase in earnings from the cash surrender value of life insurance, and a $2.0 million increase in other noninterest income, including a $653 thousand increase in insurance commissions, and a $558 thousand increase in death benefits received. Noninterest Expense For the three months ended June 30, 2026, noninterest expense totaled $47.8 million, a decrease of $4.2 million, or 8.1%, compared to $52.0 million in the first quarter of 2026. The decrease was primarily driven by a $7.6 million decrease in merger and acquisition expenses, partially offset by a $3.6 million increase in salaries and employee benefits, resulting from the acquisition of 1st Colonial. For the six months ended June 30, 2026, noninterest expense totaled $99.7 million, an increase of $21.3 million, or 27.1%, compared to $78.4 million for the six months ended June 30, 2025. The increase was primarily driven by a $13.2 million increase in salaries and benefits, reflecting additional staff from the 1st Colonial, Cumberland Advisors, and William Penn acquisitions. Software licensing and utilization costs, occupancy expenses, and legal and professional fees increased $1.9 million, $1.5 million, and $2.0 million, respectively, primarily reflecting Mid Penn's increased size and operational complexity following these acquisitions. Intangible amortization also increased $1.9 million. These increases were partially offset by a $3.5 million decrease in merger and acquisition expenses compared to the same period of 2025. The core efficiency ratio(1) was 59.8% for the second quarter of 2026, compared to 63.5% for the first quarter of 2026 and 62.6% for the second quarter of 2025. The linked-quarter improvement was primarily driven by growth in net interest income, which outpaced the increase in core noninterest expense associated with a full quarter of 1st Colonial operations. Mid Penn continues to evaluate opportunities to achieve cost synergies as integration progresses. SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn’s portfolio; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn’s initial expectations, including the full realization of anticipated cost savings and revenue enhancements, the possibility that the anticipated benefits of a transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the companies or as a result of the strength of the economy and competitive factors in legacy Mid Penn and target markets; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of a transaction; the ability to complete the integration of Mid Penn and its target successfully; the dilution caused by Mid Penn’s issuance of additional shares of its capital stock in connection with a transaction; and other factors that may affect the future results of Mid Penn. For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of unanticipated events, except as required by law. SUMMARY FINANCIAL HIGHLIGHTS (Unaudited): CONSOLIDATED BALANCE SHEETS (Unaudited): CONSOLIDATED STATEMENTS OF INCOME (Unaudited): CONSOLIDATED – AVERAGE BALANCE SHEET AND NET INTEREST INCOME ANALYSIS (Unaudited): ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY (Unaudited): RECONCILIATION OF NON-GAAP MEASURES (Unaudited) Explanatory note: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Mid Penn’s management uses these non-GAAP financial measures in their analysis of Mid Penn’s performance. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value. We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing tangible book value. Income tax effects of non-GAAP adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges (benefits) are incurred, while taking into consideration any valuation allowances or non-deductible portions of the non-GAAP adjustments. Adjusted earnings per common share excludes from income available to common shareholders certain expenses related to significant non-core activities, including merger-related expenses, net of income taxes. For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity. The core efficiency ratio is often used by management to measure its noninterest expense as a percentage of its revenue. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Mid Penn’s results and financial condition as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes that this non-GAAP supplemental information will be helpful in understanding Mid Penn’s ongoing operating results. This supplemental presentation should not be construed as an inference that Mid Penn’s future results will be unaffected by similar adjustments to be determined in accordance with GAAP. The reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the tables below. Tangible Book Value Per Common Share Adjusted Earnings Per Common Share Excluding Non-Recurring Income and Expenses Return on Average Tangible Common Equity Core Efficiency Ratio (Non-GAAP) View source version on businesswire.com: https://www.businesswire.com/news/home/20260722830975/en/ Contacts Mid Penn Bancorp, Inc.1-866-642-7736 Rory G. RitrieviChair, President & Chief Executive Officer Justin T. WebbChief Financial Officer

HARRISBURG, Pa., April 21, 2026--(BUSINESS WIRE)--Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") of $8.7 million, or $0.36 per basic and diluted common share, for the quarter ended March 31, 2026, compared to $13.7 million, or $0.71 per basic and diluted common share, for the first quarter of 2025. Adjusted earnings per common share, excluding non-recurring income and expenses(1), was $0.64 for the first quarter of 2026. Adjustments exclude $7.7 million of merger-related expenses and $370 thousand of non-recurring compensation expenses, net of tax. Key Highlights of the First Quarter of 2026: On February 27, 2026, Mid Penn completed the acquisition of 1st Colonial Bancorp, Inc. ("1st Colonial"), which added total assets of $842.5 million, comprised primarily of $597.5 million of loans. Additionally, on January 1, 2026, Mid Penn completed the acquisition of Cumberland Advisors, Inc. ("Cumberland Advisors"), a registered investment advisory firm, with approximately $3.2 billion in assets under management, further expanding the Company's wealth management capabilities and fee-based revenue. Primarily driven by merger-related expenses associated with the 1st Colonial and Cumberland Advisors acquisitions, net income available to common shareholders was $8.7 million for the first quarter of 2026 compared to net income of $13.7 million for the first quarter of 2025. Earnings per basic and diluted common share for the first quarter of 2026 was $0.36, a decrease from $0.71 per both basic and diluted common share in the first quarter of 2025. On a non-GAAP basis, adjusted net income excluding non-recurring income and expenses(1) for the quarter ended March 31, 2026, increased 10.0% to $15.3 million, compared to $13.9 million, for the first quarter of 2025, while adjusted earnings per common share was $0.64 compared to $0.72, reflecting a higher weighted-average share count following the Company's recent acquisitions. Net interest margin increased to 3.80% for the quarter ended March 31, 2026, compared to 3.79% for the fourth quarter of 2025, and 3.37% for the first quarter of 2025. This represents a 1 and 43 basis point ("bp") increase compared to the fourth quarter of 2025 and first quarter of 2025, respectively. The increase, compared to the first quarter of 2025, was driven by higher loan and investment securities yields and a reduction in the cost of funds. Loan balances increased $647.1 million, or 54.0% (annualized), during the first quarter of 2026. Excluding $597.5 million of loans acquired in the 1st Colonial transaction, organic loan growth was $49.6 million, or 4.1% (annualized), from December 31, 2025. Total loans increased $1.0 billion, or 22.7%, to $5.5 billion at March 31, 2026, compared to $4.5 billion at March 31, 2025. Deposits increased $756.3 million, or 58.8% (annualized), during the first quarter of 2026, compared to a decrease of $128.1 million, or 9.5% (annualized), during the fourth quarter of 2025. Excluding $747.1 million of deposits acquired in the 1st Colonial transaction, organic deposits increased $9.3 million, or 0.7% (annualized), from December 31, 2025. Total deposits increased $1.2 billion, or 26.2%, to $6.0 billion at March 31, 2026, compared to $4.7 billion at March 31, 2025. The core efficiency ratio(1) was 63.52% in the first quarter of 2026, compared to 55.26% in the fourth quarter of 2025, and 62.79% in the first quarter of 2025. The increase reflects the near-term impact of integrating the 1st Colonial and Cumberland Advisors acquisitions, including incremental operating costs, with anticipated cost synergies to be realized over future periods. Book value per common share was $35.08 as of March 31, 2026, compared to $35.32 as of December 31, 2025, and $34.50 as of March 31, 2025. The modest decline from the prior quarter reflects the accounting impact of the 1st Colonial acquisition, including merger-related expenses and the issuance of common shares. Tangible book value per common share (1) was $27.56 as of March 31, 2026, compared to $28.76 and $27.58 as of December 31, 2025 and March 31, 2025, respectively, with the decline primarily reflecting the goodwill and other intangible assets recorded in connection with the 1st Colonial and Cumberland Advisors acquisitions, as well as the William Penn acquisition in 2025. As a result of the foregoing, the Board of Directors declared a cash dividend of $0.22 per common share, payable on May 15, 2026, to shareholders of record as of May 4, 2026. Chair, President and CEO Rory G. Ritrievi provided the following statement: "As a result of the one-time M&A costs related to the finalization of the Cumberland Advisors and the 1st Colonial acquisitions, as well as other significant one-time expenses unrelated to M&A as discussed further within this release, the quarter was unusually noisy relative to analyst expectations. However, with first quarter total revenues of $64.9 million and pre-provision net revenues of $12.9 million, we beat consensus estimates on both fronts. From a GAAP standpoint, our reported net income of $8.7 million also beat analyst consensus estimates. Given the level of activity this quarter—including nearly $2 million of additional one-time, non-merger expenses —we are encouraged by our company’s revenue performance. Our relationship-focused calling team continues to drive net interest margin expansion in an increasingly competitive environment, and we are cautiously optimistic about both loan and deposit pipelines in the face of ongoing macroeconomic uncertainty. Further, noninterest income growth is strong, driven in no small part by the recent addition of Cumberland Advisors. Additionally, our experienced integration teams remain keenly focused on unlocking efficiencies in our recent merger activity, as projected over the coming quarters. To reward our shareholders, we are happy to declare a quarterly cash dividend of $0.22 per common share, payable May 15, 2026, to shareholders of record as of May 4, 2026. We are also pleased to announce the reauthorization and expansion of our treasury stock repurchase program, which now accommodates up to an additional $50 million in repurchase activity." Net Interest Income For the three months ended March 31, 2026, net interest income was $55.3 million, compared to net interest income of $54.8 million for the three months ended December 31, 2025. Interest income for the quarter ended March 31, 2026, includes $2.4 million of loan accretion income related to fair value marks on acquired loans, which are accreted into interest income over the expected life of the assets. The tax-equivalent net interest margin(1) for the three months ended March 31, 2026 was 3.80% compared to 3.79% and 3.37% for the fourth quarter of 2025 and first quarter of 2025, respectively, representing a 1 bp increase from the fourth quarter of 2025, and a 43 bp increase compared to the same period in 2025. The yield on interest-earning assets decreased to 5.75% for the quarter ended March 31, 2026, from 5.86% for the three months ended December 31, 2025, and increased from 5.65% for the three months ended March 31, 2025. The decrease from the fourth quarter of 2025 was primarily due to a higher average balance of lower-yielding Fed funds sold. For the three months ended March 31, 2026, net interest income increased 30.0% to $55.3 million compared to net interest income of $42.5 million for the same period of 2025. The increase was primarily driven by a $10.3 million increase in interest income on loans, and a $2.0 million increase in interest income on investment securities, compared to the same period in 2025. Average Balances Average balances were impacted by the 1st Colonial acquisition which closed on February 27, 2026. Day one increases in loans, total assets, deposits, and total liabilities were approximately $581.8 million, $842.5 million, $746.9 million, and $751.7 million, respectively. Average loans increased $238.9 million to $5.1 billion for the quarter ended March 31, 2026, compared to $4.8 billion for the quarter ended December 31, 2025, and increased $623.6 million compared to $4.5 billion for the quarter ended March 31, 2025. Average deposits were $5.4 billion for the first quarter of 2026, reflecting an increase of $103.0 million, or 1.9%, compared to total average deposits of $5.3 billion in the fourth quarter of 2025, and an increase of $711.9 million, or 15.2%, compared to total average deposits of $4.7 billion for the first quarter of 2025, primarily due to the 1st Colonial and William Penn acquisitions and organic growth. The average cost of deposits was 2.09% for the first quarter of 2026, representing a 20 bp decrease from the fourth quarter of 2025, and a 35 bp decrease from the first quarter of 2025, respectively. Cost of funds decreased to 2.12%, compared to 2.26% in the fourth quarter of 2025, primarily reflecting the repricing of higher-cost time deposits and money market accounts, as well as a favorable shift in the funding mix, including increased noninterest-bearing deposits added through the 1st Colonial acquisition. Asset Quality The total provision for credit losses, including benefit for credit losses on off-balance sheet credit exposures, was $1.6 million for the three months ended March 31, 2026, compared to the benefit for credit losses of $839 thousand for the three months ended December 31, 2025, and a provision for credit losses of $301 thousand for the three months ended March 31, 2025. The quarter-over-quarter change in the provision for credit losses was primarily driven by qualitative adjustments to the CRE owner-occupied portfolio, reflecting growth within that segment, offset by decreases due to higher prepayment speeds and a favorable economic forecast. Net charge offs for the three months ended March 31, 2026 were $1.0 million, or approximately 0.02% of total average loans. The provision for credit losses on loans was $1.6 million for the three months ended March 31, 2026, an increase of $1.3 million compared to the provision for credit losses of $321 thousand for the three months ended March 31, 2025. The increase for the three months ended March 31, 2026 was primarily attributable to qualitative adjustments to several segments of the portfolio, offset by decreases due to a favorable economic forecast. The benefit for credit losses on off-balance sheet credit exposures was $54 thousand for the three months ended March 31, 2026, compared to $20 thousand for the three months ended March 31, 2025. Allowance for credit losses - loans was 0.75%, 0.74%, and 0.80% of loans, net of unearned income at March 31, 2026, December 31, 2025, and March 31, 2025, respectively. Total nonperforming assets were $38.1 million at March 31, 2026, compared to nonperforming assets of $30.8 million at December 31, 2025 and $25.4 million at March 31, 2025. The increase during the first quarter of 2026 was primarily driven by the addition of $7.4 million of nonaccrual loans from the 1st Colonial acquisition. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.70% at March 31, 2026, compared to 0.69% and 0.50% as of December 31, 2025 and March 31, 2025, respectively. Capital Shareholders’ equity increased $73.3 million, or 9.0%, to $887.4 million as of March 31, 2026, from $814.1 million as of December 31, 2025. Retained earnings increased $2.5 million, or 1.1%, to $222.2 million as of March 31, 2026. Regulatory capital ratios for both Mid Penn and the Bank indicate regulatory capital levels in excess of both the regulatory minimums and the levels necessary for the Bank to be considered "well capitalized" at March 31, 2026. Additionally, Mid Penn declared $6.2 million in dividends during the first quarter of 2026. On April 21, 2026, Mid Penn’s Board of Directors authorized an increase to its treasury stock repurchase program ("the Program"), increasing the amount available to repurchase to $50.0 million of Mid Penn’s outstanding common stock through April 30, 2027. No shares were purchased during the three months ended March 31, 2026. As of March 31, 2026, Mid Penn repurchased a total of 519,891 shares of common stock at an average price of $23.65 per share under the Program. Noninterest Income For the three months ended March 31, 2026, noninterest income totaled $9.6 million, an increase of $2.3 million, or 32.0%, from $7.3 million for the fourth quarter of 2025. The increase was primarily driven by a $2.2 million increase in fiduciary and wealth management income from the Cumberland Advisors acquisition. For the three months ended March 31, 2026, noninterest income totaled $9.6 million, an increase of $4.4 million, or 83.3%, compared to noninterest income of $5.2 million for the three months ended March 31, 2025. The increase is primarily driven by a $2.5 million increase in fiduciary and wealth management income, a $431 thousand increase in earnings from the cash surrender value of life insurance, a $1.3 million increase in other noninterest income, including a $558 thousand increase in death benefits received, and a $458 thousand increase in insurance commissions. Noninterest Expense For the three months ended March 31, 2026, noninterest expense totaled $52.0 million, an increase of $16.1 million, or 44.9%, compared to $35.8 million in the fourth quarter of 2025. The increase was primarily driven by a $7.8 million increase in merger and acquisition expenses, a $3.3 million increase in salaries and employee benefits, a $696 thousand increase in legal and professional fees, and a $2.3 million increase in other noninterest expense, primarily driven by a $1.5 million increase related to a change in methodology for LIHTC amortization, and $665 thousand in legal settlements. For the three months ended March 31, 2026, noninterest expense totaled $52.0 million, an increase of $21.3 million, or 69.6%, compared to $30.6 million for the three months ended March 31, 2025. Merger and acquisition expenses increased $7.4 million to $7.7 million for the three months ended March 31, 2026, driven by $7.2 million related to the 1st Colonial acquisition, $544 thousand related to the Cumberland Advisors acquisition, compared to $314 thousand in the same period of 2025. Salaries and benefits increased $7.0 million for the three months ended March 31, 2026, compared to the same period in 2025. The increase is attributable to (i) the retail staff additions at the twelve retail locations added through the William Penn acquisition and three retail locations added through the 1st Colonial acquisition; (ii) the retention of various William Penn and 1st Colonial team members through the completion of systems integrations; and (iii) the addition of staff members from the Cumberland Advisors acquisition. Software licensing and utilization costs increased $1.0 million for the three months ended March 31, 2026, compared to the same period in 2025. The increase reflects additional costs to (i) license the additional William Penn and 1st Colonial branches; and (ii) upgrade internal systems, including network storage, cybersecurity, and data security enhancements in response to the Bank's larger size and increased IT complexity. Occupancy expenses increased $979 thousand for the three months ended March 31, 2026, compared to the same period in 2025. The increase was driven by the facility operating costs of the additional retail locations added through the William Penn, 1st Colonial, and Cumberland Advisors acquisitions. The core efficiency ratio(1) was 63.5% for the first quarter of 2026, compared to 55.3% for the fourth quarter of 2025 and 62.8% for the first quarter of 2025. The change in the core efficiency ratio during the first quarter of 2026 compared to the fourth quarter of 2025 was primarily driven by higher core noninterest expenses associated with the addition of 1st Colonial, including incremental personnel and operating costs, which more than offset growth in net interest income. The Company continues to evaluate opportunities to achieve cost synergies as integration progresses. 1st Colonial Acquisition On February 27, 2026, Mid Penn completed its acquisition of 1st Colonial through the merger of 1st Colonial with and into Mid Penn. Each share of 1st Colonial common stock issued and outstanding as of February 27, 2026, was converted into the right to receive either 0.695 shares of Mid Penn common stock and cash in lieu of fractional shares or $18.50 per share of 1st Colonial common stock. Mid Penn issued approximately 2,111,076 shares of Mid Penn common stock and paid holders of 1st Colonial common stock approximately $37.5 million in cash. Mid Penn also recorded Goodwill of $15.3 million, and a core deposit intangible asset of $17.3 million as a result of this acquisition. Cumberland Advisors Acquisition On January 1, 2026, Mid Penn completed its acquisition of Cumberland Advisors, Inc., a registered investment advisory firm headquartered in Sarasota, Florida, with approximately $3.2 billion in assets under management. Each share of Cumberland Advisors common stock issued and outstanding as of January 1, 2026 was converted into the right to receive 17.79 shares of Mid Penn common stock or $539.22 for each share of Cumberland Advisors common stock owned. As a result of the acquisition, Mid Penn paid holders of Cumberland Advisors common stock approximately $1.7 million in cash and issued approximately 127,009 shares of Mid Penn common stock. Mid Penn also recorded Goodwill of $5.1 million, customer list intangible assets of $2.1 million, and non-compete intangible assets of $219 thousand as a result of this acquisition. SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn’s portfolio; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn’s initial expectations, including the full realization of anticipated cost savings and revenue enhancements, the possibility that the anticipated benefits of a transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in legacy Mid Penn and target markets; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of a transaction; the ability to complete the integration of Mid Penn and its target successfully; the dilution caused by Mid Penn’s issuance of additional shares of its capital stock in connection with a transaction; and other factors that may affect the future results of Mid Penn. For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of unanticipated events, except as required by law. SUMMARY FINANCIAL HIGHLIGHTS (Unaudited): CONSOLIDATED BALANCE SHEETS (Unaudited): CONSOLIDATED STATEMENTS OF INCOME (Unaudited): CONSOLIDATED – AVERAGE BALANCE SHEET AND NET INTEREST INCOME ANALYSIS (Unaudited): ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY (Unaudited): RECONCILIATION OF NON-GAAP MEASURES (Unaudited) Explanatory note: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Mid Penn’s management uses these non-GAAP financial measures in their analysis of Mid Penn’s performance. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value. We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing tangible book value. Income tax effects of non-GAAP adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges (benefits) are incurred, while taking into consideration any valuation allowances or non-deductible portions of the non-GAAP adjustments. Adjusted earnings per common share excludes from income available to common shareholders certain expenses related to significant non-core activities, including merger-related expenses, net of income taxes. For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity. The core efficiency ratio is often used by management to measure its noninterest expense as a percentage of its revenue. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Mid Penn’s results and financial condition as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes that this non-GAAP supplemental information will be helpful in understanding Mid Penn’s ongoing operating results. This supplemental presentation should not be construed as an inference that Mid Penn’s future results will be unaffected by similar adjustments to be determined in accordance with GAAP. The reconciliation of the non-GAAP to comparable GAAP financial measures can be found in the tables below. Tangible Book Value Per Common Share Adjusted Earnings Per Common Share Excluding Non-Recurring Income and Expenses Return on Average Tangible Common Equity Core Efficiency Ratio (Non-GAAP) View source version on businesswire.com: https://www.businesswire.com/news/home/20260421017225/en/ Contacts Mid Penn Bancorp, Inc. 1-866-642-7736 Rory G. Ritrievi Chair, President & Chief Executive Officer Justin T. Webb Chief Financial Officer

HARRISBURG, Pa., January 21, 2026--(BUSINESS WIRE)--Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended December 31, 2025, of $19.4 million, or $0.84 per basic and $0.83 per diluted common share, compared to net income of $18.3 million, or $0.80 per basic and $0.79 per diluted common share, for the third quarter of 2025, and the consensus analyst estimate of $0.84 per basic common share for the fourth quarter of 2025. Key Highlights of the Fourth Quarter of 2025: Net income available to common shareholders for the fourth quarter of 2025 was $19.4 million, an increase of $6.2 million or 47.0% compared to the fourth quarter of 2024, and an increase of $1.2 million, or 6.29%, compared to the third quarter of 2025. Earnings per basic share for the fourth quarter of 2025 was $0.84, and $0.83 per diluted common share, an increase from $0.72 per both basic and diluted common share in the fourth quarter of 2024, and an increase from $0.80 per basic share and 0.79 per diluted share for third quarter of 2025. Net income for the year ended December 31, 2025 was $56.2 million, or $2.59 per basic and $2.55 per diluted common share, compared to $49.4 million, or $2.90 per basic and diluted common share for the year ended December 31, 2024. The increase in net income was partially offset by a higher weighted-average number of shares outstanding in 2025, which contributed to a lower diluted earnings per share compared to the prior year. Net interest margin increased to 3.79% for the quarter ended December 31, 2025, compared to 3.60% for the third quarter of 2025, and 3.21% for the fourth quarter of 2024. This represents a 19 and 58 basis point ("bp") increase compared to the third quarter of 2025 and fourth quarter of 2024, respectively. That expansion was accomplished by continued improvement in deposit cost of funds and loan yields throughout the fourth quarter and over the last twelve months. Loan balances increased $41.7 million, or 3.4% (annualized), during the fourth quarter of 2025. Total loans increased $419.8 million, or 9.4%, to $4.9 billion at December 31, 2025, compared to $4.4 billion at December 31, 2024. Excluding the William Penn acquisition loans of $431.4 million, the organic loan portfolio as of December 31, 2025 declined $11.6 million or 0.3% from the year ended December 31, 2024. Deposits decreased $128.1 million, or 9.5% (annualized), during the fourth quarter of 2025, compared to a decrease of $106.9 million, or 7.8% (annualized), during the third quarter of 2025. The quarterly decrease was driven by a $93.7 million decrease in time deposits, a $32.0 million decrease in interest-bearing transaction accounts, and a $2.4 million decrease in noninterest-bearing accounts. Total deposits increased $524.7 million, or 11.2%, to $5.2 billion at December 31, 2025, compared to $4.7 billion at December 31, 2024. Excluding the William Penn acquisition deposits of $619.8 million, organic deposits decreased $95.0 million, or 2.0%, from December 31, 2024. This decrease was primarily driven by a planned reduction of approximately $225 million in brokered certificates of deposit during the third and fourth quarters of 2025 in order to deploy excess liquidity and lower funding costs. Excluding brokered deposits, organic growth totaled $127.3 million or 10.8% (annualized). The core efficiency ratio(1) improved to 55.26% in the fourth quarter of 2025, compared to 58.80% in the third quarter of 2025, and 63.94% in the fourth quarter of 2024. This improvement was driven by higher net interest income and disciplined management of noninterest expense following the William Penn acquisition. Book value per common share improved to $35.32 as of December 31, 2025, compared to $34.56 as of September 30, 2025, and $33.84 as of December 31, 2024. Tangible book value per common share (1) was $28.76 as of December 31, 2025, compared to $27.96 and $26.90 as of September 30, 2025 and December 31, 2024, respectively. As a result of the foregoing, the Board of Directors declared a cash dividend of $0.22 per common share, payable February 17, 2026, to shareholders of record as of February 6, 2026, and a special dividend of $0.05 per common share, payable February 17, 2026, to shareholders of record as of February 6, 2026. Chair, President and CEO Rory G. Ritrievi provided the following statement: "We are pleased to announce our fourth quarter of 2025 and full year 2025 results of operations to our shareholders. The fourth quarter included a return to organic loan growth, improvement in asset quality, improvement in net interest margin and a disciplined approach to operating expense management. For the full year, we improved profitability metrics through a solid performance in asset quality, a 58 basis point net interest margin expansion, a 19% increase in noninterest income growth and solid improvement in core operating expense management that led to an overall efficiency ratio for the year of 59.33%, a significant improvement over the 64.96% ratio for fiscal year 2024. Based upon the foregoing, we are happy to announce a fourth quarter dividend of $0.22 per common share, payable February 17, 2026, to shareholders of record as of February 6, 2026, as well as a $0.05 special dividend, payable February 17, 2026, to shareholders of record as of February 6, 2026." Net Interest Income For the three months ended December 31, 2025, net interest income was $54.8 million, compared to net interest income of $53.6 million for the three months ended September 30, 2025, and $41.3 million for the three months ended December 31, 2024. Interest income for the quarter ended December 31, 2025 includes $3.7 million of loan accretion income related to prior acquisitions. This accretion reflects the recognition of fair value marks on acquired loans, which are accreted into interest income over the expected life of the assets. The tax-equivalent net interest margin for the three months ended December 31, 2025 was 3.79% compared to 3.60% and 3.21% for the third quarter of 2025 and fourth quarter of 2024, respectively, representing a 19 bp increase from the third quarter of 2025, and a 58 bp increase compared to the same period in 2024. The yield on interest-earning assets increased to 5.86% for the quarter ended December 31, 2025, from 5.81% for the three months ended September 30, 2025, and 5.67% for the three months ended December 31, 2024. The increase from the third quarter of 2025 was primarily due to higher average loan balances. For the year ended December 31, 2025, net interest income increased 27.1% to $199.1 million compared to net interest income of $156.7 million for the same period of 2024. The increase was primarily driven by a $26.7 million increase in interest income on loans, a $5.8 million increase in interest income on investment securities, a $5.4 million increase in Federal Funds Sold, and a $10.2 million decrease in interest expense on short-term borrowings, partially offset by a $5.5 million increase in interest expense on deposits, compared to the same period of 2024. Average Balances Average balances for the year ended December 31, 2025 continue to be impacted by the William Penn acquisition given that the acquisition closed on April 30, 2025. Day one increases in loans, total assets, deposits, and total liabilities were $431.4 million, $727.7 million, $619.8 million, and $630.2 million, respectively. Average loans increased $40.1 million to $4.8 billion for the quarter ended December 31, 2025, compared to $4.8 billion for the quarter ended September 30, 2025, and increased $402.9 million compared to $4.4 billion for the quarter ended December 31, 2024. Average deposits were $5.3 billion for the fourth quarter of 2025, reflecting a decrease of $177.5 million, or 3.2%, compared to total average deposits of $5.5 billion in the third quarter of 2025, and an increase of $602.7 million, or 12.9%, compared to total average deposits of $4.7 billion for the fourth quarter of 2024. The average cost of deposits was 2.24% for the fourth quarter of 2025, representing a 13 bp decrease and a 37 bp decrease from the third quarter of 2025 and the fourth quarter of 2024, respectively. Cost of funds decreased to 2.26%, compared to 2.39% for the third quarter of 2025, primarily reflecting a reduction in higher-cost time deposit balances and the use of lower-cost alternative funding sources. Asset Quality The total benefit for credit losses, including benefit for credit losses on off-balance sheet credit exposures, was $839 thousand for the three months ended December 31, 2025, a decrease of $405 thousand compared to the benefit for credit losses of $434 thousand for the three months ended September 30, 2025, and a $1.2 million decrease compared to the provision for credit losses of $333 thousand for the three months ended December 31, 2024. The quarter-over-quarter change in the benefit for credit losses was primarily driven by updates to the macroeconomic forecast, which reduced expected credit losses. Net charge offs for the three months ended December 31, 2025 were $466 thousand, or less than 0.01% of total average loans. The provision for credit losses on loans was $1.6 million for the year ended December 31, 2025, a decrease of $545 thousand compared to the provision for credit losses of $2.1 million for the year ended December 31, 2024. The decrease for the year ended December 31, 2025 was primarily attributable to reduced expected losses driven by updates to the macroeconomic forecast and lower loan balances as a result of an increase in observed prepayment speeds, partially offset by a $2.3 million reserve on non-PCD loans acquired through the William Penn acquisition. The benefit for credit losses on off-balance sheet credit exposures was $301 thousand for the year ended December 31, 2025, compared to $628 thousand for the year ended December 31, 2024. Allowance for credit losses - loans was 0.74%, 0.77%, and 0.80% of loans, net of unearned income at December 31, 2025, September 30, 2025, and December 31, 2024, respectively. Total nonperforming assets were $30.8 million at December 31, 2025, compared to nonperforming assets of $27.3 million and $22.7 million at September 30, 2025 and December 31, 2024, respectively. The increase during the fourth quarter of 2025 primarily related to a single C&I relationship for $4.7 million, partially offset by the sale of one foreclosed commercial real estate property of $1.4 million. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.69% at December 31, 2025, compared to 0.68% and 0.52% as of September 30, 2025 and December 31, 2024, respectively. Capital Shareholders’ equity increased $17.7 million, or 2.23%, from $796.3 million as of September 30, 2025, to $814.1 million as of December 31, 2025. Retained earnings increased $14.4 million, or 7.0%, from $205.3 million as of September 30, 2025 to $219.7 million as of December 31, 2025. Regulatory capital ratios for both Mid Penn and the Bank indicate regulatory capital levels in excess of both the regulatory minimums and the levels necessary for the Bank to be considered "well capitalized" at December 31, 2025. Additionally, Mid Penn declared $5.1 million in dividends during the fourth quarter of 2025. On April 23, 2025, Mid Penn’s Board of Directors reauthorized its treasury stock repurchase program ("the Program") effective through April 30, 2026. The Program authorizes the repurchase of up to $15.0 million of Mid Penn’s outstanding common stock. During the year ended December 31, 2025, Mid Penn repurchased 79,169 shares of common stock at an average price of $28.50. As of December 31, 2025, Mid Penn repurchased a total of 519,891 shares of common stock at an average price of $23.65 per share under the Program. The Program had approximately $2.7 million remaining available for repurchase as of December 31, 2025. Noninterest Income For the three months ended December 31, 2025, noninterest income totaled $7.3 million, a decrease of $906 thousand, or 11.1%, compared to noninterest income of $8.2 million for the third quarter of 2025. The decrease was primarily driven by a $461 thousand decrease in mortgage banking, and a $580 thousand decrease in other noninterest income, largely reflecting a decrease of $534 thousand in recoveries on loans previously acquired in business combinations, which are recognized in noninterest income, rather than a reduction to the allowance for credit losses, consistent with purchase accounting treatment. This decrease also includes a $420 thousand reduction in gains related to the closing of an investment in a reinsurance entity acquired from another institution, and a $279 thousand decrease in swap cancellation gains tied to the elimination of brokered deposits, partially offset by a $355 thousand increase in sales tax refunds received. For the year ended December 31, 2025, noninterest income totaled $26.8 million, an increase of $4.3 million, or 19.3%, compared to noninterest income of $22.5 million for the year ended December 31, 2024. The increase in noninterest income is primarily driven by a $838 thousand increase in earnings from the cash surrender value of life insurance, a $618 thousand increase in fiduciary and wealth management, a $356 thousand increase in mortgage banking, and a $2.2 million increase in other noninterest income, driven by a $1.1 million increase in insurance commissions, a $910 thousand increase in loan level swap fees, and a $534 thousand increase in recoveries on loans previously acquired in business combinations, which are recognized in noninterest income, rather than a reduction to the allowance for credit losses, consistent with purchase accounting treatment. This increase also includes a $420 thousand gain on the closing of an investment in a reinsurance entity acquired from another institution, a $307 thousand increase in sales tax refunds received, and $279 thousand in swap cancellation gains tied to eliminated brokered deposits, partially offset by a $2.2 million decrease in death benefits received. Noninterest Expense For the three months ended December 31, 2025, noninterest expense totaled $35.8 million, a decrease of $2.1 million, or 5.62%, compared to noninterest expense of $38.0 million in the third quarter of 2025. The decrease was primarily driven by a $915 thousand decrease in salaries and employee benefits, including a $439 thousand decrease in stock-based compensation expense, a $761 thousand decrease in Shares tax and a $929 thousand decrease in other noninterest expense, offset by a $624 thousand increase in FDIC assessments. For the year ended December 31, 2025, noninterest expense totaled $152.3 million, an increase of $34.7 million, or 29.5%, compared to noninterest expense of $117.6 million for the year ended December 31, 2024. Salaries and benefits increased $13.9 million for the year ended December 31, 2025, compared to the same period in 2024. The increase is attributable to (i) equity-based compensation expense for stock options and restricted stock awards totaling $3.1 million that were recognized in the year ended December 31, 2025; (ii) the retail staff additions at the twelve retail locations added through the William Penn acquisition; and (iii) the retention of various William Penn team members through the completion of systems integration, which occurred on June 20, 2025. Merger and acquisition expenses increased $11.0 million for the year ended December 31, 2025, which includes $10.1 million of merger related expenses related to the William Penn acquisition, $713 thousand related to the 1st Colonial acquisition, $172 thousand related to the Cumberland Advisors acquisition, and $164 thousand related to the Charis Insurance Group acquisition. Software licensing and utilization costs increased $3.3 million for the year ended December 31, 2025, compared to the same period in 2024. The increase reflects additional costs to (i) license the additional William Penn branches; and (ii) upgrade internal systems, including network storage, cybersecurity, and data security enhancements in response to the Bank's larger size and increased IT complexity. Occupancy expenses increased $2.3 million for the year ended December 31, 2025, compared to the same period in 2024. The increase was driven by the facility operating costs of the additional retail locations added through the William Penn acquisition. The core efficiency ratio(1) improved to 55.3% in the fourth quarter of 2025, compared to 58.8% in the third quarter of 2025 and 63.9% in the fourth quarter of 2024. The improvement in the core efficiency ratio during the fourth quarter of 2025 compared to the third quarter of 2025 was the result of higher net interest income and lower noninterest expense. Mid Penn continues to evaluate levels of noninterest expense for opportunities to reduce operating costs throughout the organization. Subsequent Events Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements when filed with the Securities and Exchange Commission ("SEC"). Accordingly, the financial information in this announcement is subject to change. The statements are valid only as of the date hereof and Mid Penn disclaims any obligation to update this information. The following events occurred subsequent to December 31, 2025 and are disclosed for informational purposes. On January 1, 2026, Mid Penn completed its acquisition of Cumberland Advisors, Inc., a registered investment advisory firm with clients both nationally and internationally. As of December 31, 2025, Cumberland had approximately $3.2 billion in assets under management. In connection with the acquisition, Cumberland was merged into a newly formed Mid Penn acquisition subsidiary and now operates as Cumberland Advisors, LLC. SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn’s portfolio; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn’s initial expectations, including the full realization of anticipated cost savings and revenue enhancements, the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement between Mid Penn and 1st Colonial; the outcome of any legal proceedings that may be instituted against Mid Penn or 1st Colonial; delays in completing the transaction; the failure to obtain necessary regulatory approvals for the 1st Colonial acquisition (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the failure to obtain 1st Colonial shareholder approval or to satisfy any of the other conditions to the 1st Colonial transaction on a timely basis or at all; the possibility that the anticipated benefits of a transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in legacy Mid Penn and target markets; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the 1st Colonial transaction; the ability to complete the integration of Mid Penn and Cumberland successfully; the dilution caused by Mid Penn’s issuance of additional shares of its capital stock in connection with the acquisitions of Cumberland and 1st Colonial; and other factors that may affect the future results of Mid Penn. For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of unanticipated events, except as required by law. SUMMARY FINANCIAL HIGHLIGHTS (Unaudited): CONSOLIDATED BALANCE SHEETS (Unaudited): CONSOLIDATED STATEMENTS OF INCOME (Unaudited): CONSOLIDATED – AVERAGE BALANCE SHEET AND NET INTEREST INCOME ANALYSIS (Unaudited): ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY (Unaudited): RECONCILIATION OF NON-GAAP MEASURES (Unaudited) Explanatory note: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Mid Penn’s management uses these non-GAAP financial measures in their analysis of Mid Penn’s performance. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value. We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing tangible book value. Income tax effects of non-GAAP adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges (benefits) are incurred, while taking into consideration any valuation allowances or non-deductible portions of the non-GAAP adjustments. Adjusted earnings per common share excludes from income available to common shareholders certain expenses related to significant non-core activities, including merger-related expenses, net of income taxes. For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity. The core efficiency ratio is often used by management to measure its noninterest expense as a percentage of its revenue. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Mid Penn’s results and financial condition as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes that this non-GAAP supplemental information will be helpful in understanding Mid Penn’s ongoing operating results. This supplemental presentation should not be construed as an inference that Mid Penn’s future results will be unaffected by similar adjustments to be determined in accordance with GAAP. The reconciliation of the non-GAAP to comparable GAAP financial measures can be found in the tables below. Tangible Book Value Per Common Share Adjusted Earnings Per Common Share Excluding Non-Recurring Income and Expenses Return on Average Tangible Common Equity Core Efficiency Ratio (Non-GAAP) View source version on businesswire.com: https://www.businesswire.com/news/home/20260121940804/en/ Contacts Mid Penn Bancorp, Inc. 1-866-642-7736 Rory G. Ritrievi Chair, President & Chief Executive Officer Justin T. Webb Chief Financial Officer

HARRISBURG, Pa., October 22, 2025--(BUSINESS WIRE)--Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended September 30, 2025, of $18.3 million, or $0.80 per basic and $0.79 per diluted common share, compared to net income of $4.8 million, or $0.22 per basic and diluted common share, for the second quarter of 2025, and exceeded the consensus analyst estimate of $0.71 per diluted common share for the third quarter of 2025. Key Highlights of the Third Quarter of 2025: Net income available to common shareholders increased 48.7% to $18.3 million, or $0.80 per basic and $0.79 per diluted common share, for the third quarter of 2025, compared to net income of $12.3 million, or $0.74 per basic and diluted common share, for the third quarter of 2024. The increase in net income per diluted share was partially offset by the higher number of shares outstanding in 2025, which contributed to the lower year-over-year EPS growth rate. Net income for the nine months ended September 30, 2025 increased 1.6% to $36.8 million, or $1.73 per basic and $1.70 per diluted common share, compared to $36.2 million for the nine months ended September 30, 2024, or $2.18 per basic and diluted common share. Net interest margin increased to 3.60% for the quarter ended September 30, 2025, compared to 3.44% for the second quarter of 2025, and 3.13% for the third quarter of 2024. This represents a 16 and 47 basis point ("bp") increase compared to the second quarter of 2025 and third quarter of 2024, respectively. That expansion was accomplished by continued improvement in deposit cost of funds and loan yields over the last nine and twelve months. Loan balances declined by $11.8 million, or 1.0% (annualized), during the third quarter of 2025. Total loans increased $378.1 million, or 8.5%, to $4.8 billion at September 30, 2025, compared to $4.4 billion at December 31, 2024. Excluding the William Penn acquisition loans of $431.4 million, the organic loan portfolio as of September 30, 2025 declined $53.3 million or 1.2% from the year ended December 31, 2024. This decline was primarily due to elevated commercial real estate payoffs that outpaced new originations. Deposits decreased $106.9 million, or 7.8% (annualized), during the third quarter of 2025, compared to an increase of $717.5 million, or 60.8% (annualized), during the second quarter of 2025. This decrease was driven by a planned exit of approximately $175 million in brokered certificates of deposit to deploy excess liquidity, lower funding costs, and realize gains of $279 thousand on associated interest rate swaps. Additionally, there was a $20.7 million decrease in noninterest-bearing accounts, offset by an $85.3 million increase in interest-bearing transaction accounts. Total deposits increased $652.8 million or 13.9% to $5.3 billion at September 30, 2025, compared to $4.7 billion at December 31, 2024. Excluding the William Penn acquisition deposits of $619.8 million, organic deposit growth as of September 30, 2025 increased $33.0 million or 2.8%, annualized from the year ended December 31, 2024. The core efficiency ratio(1) improved to 58.80% in the third quarter of 2025, compared to 62.56% in the second quarter of 2025, and 64.89% in the third quarter of 2024. Book value per common share improved to $34.56 as of September 30, 2025, compared to $33.85 as of June 30, 2025, and $34.48 as of September 30, 2024. Tangible book value per common share (1) was $27.96 as of September 30, 2025, compared to $27.22 and $26.36 as of June 30, 2025 and September 30, 2024, respectively. On September 24, 2025, Mid Penn entered into an Agreement and Plan of Merger, by and between Mid Penn and 1st Colonial Bancorp, Inc., in a cash and stock deal valued at nearly $101 million. The deal is expected to close in the first or second quarter of 2026, subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by 1st Colonial shareholders. On September 25, 2025, Mid Penn entered into an agreement to acquire Cumberland Advisors. Cumberland Advisors, a registered investment advisory firm, 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 deal is expected to close in the fourth quarter of 2025, subject to customary closing conditions. As a result of the foregoing, the Board of Directors declared a cash dividend of $0.22 per common share, payable November 24, 2025, to shareholders of record as of November 10, 2025. Chair, President and CEO Rory G. Ritrievi provided the following statement: "We are pleased to announce our third quarter results of operations to our shareholders. Within a quarter that included the announcement of two planned acquisitions, we delivered solid GAAP earnings of $0.80 (per average outstanding share within the quarter), compared to consensus estimate of $0.71 per share, 3Q24 of $0.74 per share and 2Q25 of $0.22 per share. Our success was driven by a confluence of factors. Through repricing of existing loans, disciplined pricing on new loans, accretion from acquired loans, and a marginal improvement in deposit cost of funds, our net interest margin expanded by 16 basis points within the quarter and is now up to 3.6%. There is still some progress needed to get back to our pre-inverted yield curve days but we have seen great progress over the last seven quarters. Asset quality was spectacular within the quarter, continuing a trend that has been occurring for several years now. While net charge offs were less than $100,000 for the quarter, nonperforming assets were down slightly from 2Q25. Annualized revenues for 3Q25 were $247.2 million, versus annualized revenues for 2Q25 of $217.2 million for an annualized increase of $30 million or 13.8%. Solid revenue expansion. When excluding M&A costs incurred in 2Q25, noninterest expenses were basically flat between the two linked quarters, as evidenced by a 377 basis point decrease in our core efficiency ratio as it declined from 62.6% in 2Q25 to 58.8% in 3Q25. Good revenue growth + good NIM expansion + flat operating expenses + solid asset quality = a great quarter of performance for Mid Penn, even while shifting some resources toward the announcement of two meaningful M&A transactions. With all that in mind, I happily announce, on behalf of the Board of Directors, an increase to our quarterly dividend of 10% going up to $0.22 per common share for the 3rd quarter, payable November 24, 2025, to shareholders of record as of November 10, 2025." Net Interest Income For the three months ended September 30, 2025, net interest income was $53.6 million, compared to net interest income of $48.2 million for the three months ended June 30, 2025, and $40.2 million for the three months ended September 30, 2024. The tax-equivalent net interest margin for the three months ended September 30, 2025 was 3.60% compared to 3.44% and 3.13% for the second quarter of 2025 and third quarter of 2024, respectively, representing a 16 bp increase from the second quarter of 2025, and a 47 bp increase compared to the same period in 2024. The yield on interest-earning assets increased to 5.81% for the quarter ended September 30, 2025, from 5.69% for the three months ended June 30, 2025, and 5.73% for the three months ended September 30, 2024. The increase from the second quarter of 2025 was primarily due to an increase in interest income on loans, and an increase in the average balance of Federal Funds Sold. For the nine months ended September 30, 2025, net interest income increased 25.1% to $144.3 million compared to net interest income of $115.4 million for the same period of 2024. The increase was primarily driven by a $17.9 million increase in interest income on loans, a $4.7 million increase in Federal Funds Sold, and a $9.7 million decrease in interest expense on short-term borrowings, partially offset by a $6.4 million increase in interest expense on deposits, compared to the same period of 2024. Average Balances Average balances for the year ended September 30, 2025 continue to be impacted by the William Penn acquisition given that the acquisition closed on April 30, 2025. Day one increases in loans, total assets, deposits, and total liabilities were $431.4 million, $727.7 million, $619.8 million, and $630.2 million, respectively. Average loans increased $79.5 million to $4.8 billion for the quarter ended September 30, 2025, compared to $4.7 billion for the quarter ended June 30, 2025, and increased $398.2 million compared to $4.4 billion for the quarter ended September 30, 2024. Average deposits were $5.5 billion for the third quarter of 2025, reflecting an increase of $308.4 million, or 6.0%, compared to total average deposits of $5.2 billion in the second quarter of 2025, and an increase of $870.5 million, or 18.9%, compared to total average deposits of $4.6 billion for the third quarter of 2024. The average cost of deposits was 2.37% for the third quarter of 2025, representing a 2 bp decrease and a 31 bp decrease from the second quarter of 2025 and the third quarter of 2024, respectively. Cost of funds decreased to 2.39%, compared to 2.44% for the second quarter of 2025. Despite a higher total interest expense, cost of funds improved during the quarter, primarily due to the growth in average noninterest-bearing and interest-bearing demand deposits. Asset Quality The total benefit for credit losses, including benefit for credit losses on off-balance sheet credit exposures, was $434.0 thousand for the three months ended September 30, 2025, a decrease of $2.7 million compared to the provision for credit losses of $2.3 million for the three months ended June 30, 2025, and a $950 thousand decrease compared to the provision for credit losses of $516 thousand for the three months ended September 30, 2024. The decrease in provision was primarily driven by lower loan balances as a result of an increase in observed prepayment speeds. Net charge offs for the three months ended September 30, 2025 were $91 thousand, or less than 0.002% of total average loans. The provision for credit losses on loans was $2.4 million for the nine months ended September 30, 2025, an increase of $595 thousand compared to the provision for credit losses of $1.8 million for the nine months ended September 30, 2024. This increase for the nine months ended September 30, 2025 was primarily due to a $2.3 million reserve on non-PCD loans acquired through the William Penn acquisition, partially offset by lower loan balances as a result of an increase in observed prepayment speeds. The benefit for credit losses on off-balance sheet credit exposures was $247 thousand and $243 thousand for the three and nine months ended September 30, 2025, respectively. Allowance for credit losses - loans was 0.77%, 0.78%, and 0.80% of loans, net of unearned income at September 30, 2025, June 30, 2025, and September 30, 2024, respectively. Total nonperforming assets were $27.3 million at September 30, 2025, compared to nonperforming assets of $28.0 million and $17.7 million at June 30, 2025 and September 30, 2024, respectively. The decrease during the third quarter of 2025 primarily related to a decrease in commercial real estate non-accrual loans. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.68% at September 30, 2025, compared to 0.58% and 0.61% as of June 30, 2025 and September 30, 2024, respectively. Capital Shareholders’ equity increased $141.3 million, or 21.6%, from $655.0 million as of December 31, 2024, to $796.3 million as of September 30, 2025. Retained earnings increased $13.7 million, or 7.2%, from $191.6 million as of June 30, 2025 to $205.3 million as of September 30, 2025. Regulatory capital ratios for both Mid Penn and the Bank indicate regulatory capital levels in excess of both the regulatory minimums and the levels necessary for the Bank to be considered "well capitalized" at September 30, 2025. Additionally, Mid Penn declared $4.6 million in dividends during the third quarter of 2025. On April 23, 2025, Mid Penn’s Board of Directors reauthorized its treasury stock repurchase program ("the Program") effective through April 30, 2026. The Program authorizes the repurchase of up to $15.0 million of Mid Penn’s outstanding common stock. During the nine months ended September 30, 2025, Mid Penn repurchased 70,669 shares of common stock at an average price of $28.45. As of September 30, 2025, Mid Penn repurchased a total of 511,391 shares of common stock at an average price of $23.57 per share under the Program. The Program had approximately $2.9 million remaining available for repurchase as of September 30, 2025. Noninterest Income For the three months ended September 30, 2025, noninterest income totaled $8.2 million, an increase of $2.0 million, or 33.2%, compared to noninterest income of $6.1 million for the second quarter of 2025. The increase is primarily due to a $337 thousand increase in mortgage banking, a $114 thousand increase in earnings from the cash surrender value of life insurance, and a $1.6 million increase in other noninterest income, driven by $534 thousand in recoveries on loans previously acquired in business combinations. These recoveries are recognized in noninterest income rather than a reduction to the allowance for credit losses, consistent with purchase accounting treatment, as expected credit losses on acquired loans were reflected in fair value adjustments at the acquisition date. This increase also includes $420 thousand gain on the closing of an investment of a reinsurance entity acquired from another institution, and $279 thousand in swap cancellation gains tied to eliminated brokered deposits. For the nine months ended September 30, 2025, noninterest income totaled $19.6 million, an increase of $3.2 million, or 19.7%, compared to noninterest income of $16.3 million for the nine months ended September 30, 2024. The increase in noninterest income is primarily driven by a $509 thousand increase in earnings from the cash surrender value of life insurance, a $460 thousand increase in mortgage banking, a $421 thousand increase in fiduciary and wealth management, and a $1.7 million increase in other noninterest income, driven by $534 thousand in recoveries on loans previously acquired in business combinations. These recoveries are recognized in noninterest income rather than a reduction to the allowance for credit losses, consistent with purchase accounting treatment, as expected credit losses on acquired loans were reflected in fair value adjustments at the acquisition date. This increase also includes a $420 thousand gain on the closing of an investment of a reinsurance entity acquired from another institution, and $279 thousand in swap cancellation gains tied to eliminated brokered deposits. Noninterest Expense For the three months ended September 30, 2025, noninterest expense totaled $38.0 million, a decrease of $9.8 million, or 20.54%, compared to noninterest expense of $47.8 million in the second quarter of 2025. Merger and acquisition expenses decreased $10.8 million, primarily reflecting the absence of $11.2 million of merger related expenses related to the William Penn acquisition and $164 thousand related to the Charis Insurance Group acquisition, both of which closed in the second quarter of 2025. For the nine months ended September 30, 2025, noninterest expense totaled $116.4 million, an increase of $29.7 million, or 34.3%, compared to noninterest expense of $86.7 million for the nine months ended September 30, 2024. Merger and acquisition expenses increased $11.4 million for the nine months ended September 30, 2025, which includes $11.2 million of merger related expenses related to the William Penn acquisition and $164 thousand related to the Charis Insurance Group acquisition. Salaries and benefits increased $10.9 million for the nine months ended September 30, 2025, compared to the same period in 2024, The increase is attributable to (i) equity-based compensation expense for stock options and restricted stock awards totaling $2.8 million that were recognized in the nine months ended September 30, 2025; (ii) the retail staff additions at the twelve retail locations added through the William Penn acquisition; and (iii) the retention of various William Penn team members through the completion of systems integration, which occurred on June 20, 2025. Software licensing and utilization costs increased $2.5 million for the nine months ended September 30, 2025, compared to the same period in 2024. The increase reflects additional costs to (i) license the additional William Penn branches; and (ii) upgrades to internal systems, including network storage, cybersecurity, and data security enhancements in response to the Bank's larger size and increased IT complexity. Occupancy expenses increased $1.6 million for the nine months ended September 30, 2025, compared to the same period in 2024. The increase was driven by the facility operating costs of the additional retail locations added through the William Penn acquisition. The core efficiency ratio(1) was 58.8% in the third quarter of 2025, compared to 62.6% in the second quarter of 2025 and 64.9% in the third quarter of 2024. The improvement in the core efficiency ratio during the third quarter of 2025 compared to the second quarter of 2025 was the result of higher net interest income, higher noninterest income and lower noninterest expense. Mid Penn continues to evaluate levels of noninterest expense for opportunities to reduce operating costs throughout the organization. Subsequent Events Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements when filed with the Securities and Exchange Commission ("SEC"). Accordingly, the financial information in this announcement is subject to change. The statements are valid only as of the date hereof and Mid Penn disclaims any obligation to update this information. SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn’s portfolio; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn’s initial expectations, including the full realization of anticipated cost savings and revenue enhancements; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the respective merger agreement between Mid Penn and 1st Colonial or Cumberland Advisors; the outcome of any legal proceedings that may be instituted against Mid Penn or 1st Colonial; delays in completing the transactions; the failure to obtain necessary regulatory approvals for the 1st Colonial acquisition (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the failure to obtain 1st Colonial shareholder approval or to satisfy any of the other conditions to the 1st Colonial or Cumberland Advisors transaction on a timely basis or at all; the possibility that the anticipated benefits of a transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in legacy Mid Penn and target markets; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the 1st Colonial or Cumberland Advisors transaction; the ability to complete the integration of Mid Penn and its targets successfully; the dilution caused by Mid Penn’s issuance of additional shares of its capital stock in connection with the 1st Colonial or Cumberland Advisors transaction; and other factors that may affect the future results of Mid Penn, 1st Colonial or Cumberland Advisors. For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of unanticipated events, except as required by law. SUMMARY FINANCIAL HIGHLIGHTS (Unaudited): CONSOLIDATED BALANCE SHEETS (Unaudited): CONSOLIDATED STATEMENTS OF INCOME (Unaudited): CONSOLIDATED – AVERAGE BALANCE SHEET AND NET INTEREST INCOME ANALYSIS (Unaudited): ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY (Unaudited): RECONCILIATION OF NON-GAAP MEASURES (Unaudited) Explanatory note: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Mid Penn’s management uses these non-GAAP financial measures in their analysis of Mid Penn’s performance. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value. We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing tangible book value. Income tax effects of non-GAAP adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges (benefits) are incurred, while taking into consideration any valuation allowances or non-deductible portions of the non-GAAP adjustments. Adjusted earnings per common share excludes from income available to common shareholders certain expenses related to significant non-core activities, including merger-related expenses, net of income taxes. For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity. The core efficiency ratio is often used by management to measure its noninterest expense as a percentage of its revenue. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Mid Penn’s results and financial condition as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes that this non-GAAP supplemental information will be helpful in understanding Mid Penn’s ongoing operating results. This supplemental presentation should not be construed as an inference that Mid Penn’s future results will be unaffected by similar adjustments to be determined in accordance with GAAP. The reconciliation of the non-GAAP to comparable GAAP financial measures can be found in the tables below. Tangible Book Value Per Common Share Adjusted Earnings Per Common Share Excluding Non-Recurring Income and Expenses Return on Average Tangible Common Equity Core Efficiency Ratio View source version on businesswire.com: https://www.businesswire.com/news/home/20251022424524/en/ Contacts Mid Penn Bancorp, Inc. 1-866-642-7736 Rory G. Ritrievi Chair, President & Chief Executive Officer Justin T. Webb Chief Financial Officer

HARRISBURG, Pa., July 23, 2025--(BUSINESS WIRE)--Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2025, of $4.8 million, or $0.22 per diluted common share, compared to net income of $11.8 million, or $0.71 per diluted common share, for the second quarter of 2024. Net income, excluding non-recurring income and expenses(1) for the second quarter of 2025, was $15.1 million. Adjusted earnings per common share excluding non-recurring income and expenses(1) was $0.70, exceeding the consensus analyst estimate of $0.69 per diluted common share for the second quarter of 2025. Adjustments exclude $8.7 million of after-tax merger-related expenses and $1.6 million of non-recurring compensation expenses. Key Highlights of the Second Quarter of 2025: On April 30, 2025, Mid Penn completed the acquisition of William Penn Bancorporation ("William Penn"), which added total assets of $757.3 million, comprised primarily of $431.4 million of loans. Additionally, on May 12, 2025, Mid Penn acquired the insurance business and related accounts of Charis Insurance Group, which provides business, home and auto insurance throughout central and southeast Pennsylvania. Net income available to common shareholders decreased 59.5% to $4.8 million, or $0.22 per diluted common share, for the second quarter of 2025, compared to net income of $11.8 million, or $0.71 per diluted common share, for the second quarter of 2024. On a non-GAAP basis, net income excluding non-recurring income and expenses(1) for the quarter ended June 30, 2025, increased 33.6% to $15.1 million, or $0.70 per diluted common share, compared to $11.3 million, or $0.68 per diluted common share, for the second quarter of 2024. Net interest margin increased to 3.44% for the quarter ended June 30, 2025, compared to 3.37% for the first quarter of 2025, representing a 7 basis point ("bp") increase compared to the first quarter of 2025. Cost of funds decreased to 2.44% for the quarter ended June 30, 2025, compared to 2.48% for the first quarter of 2025. Despite a higher total interest expense, cost of funds improved during the quarter, primarily due to the growth in average interest-bearing liabilities, driven in part by the addition of lower-cost deposits acquired in the William Penn acquisition. These deposits helped dilute the overall cost of funding, contributing to the improvement. The yield on loans increased to 6.15% for the quarter ended June 30, 2025, compared to 6.05% for the first quarter of 2025. Net interest margin increased to 3.44% for the quarter ended June 30, 2025, compared to 3.12% for the second quarter of 2024, representing a 32 bp increase compared to the same period in 2024. Loan growth for the second quarter of 2025 was $341.7 million, or 30.5% (annualized). Total loans increased $468.3 million, or 10.7%, to $4.8 billion at June 30, 2025, compared to $4.4 billion at June 30, 2024. Excluding the William Penn acquisition loans of $431.4 million, the organic loan portfolio for the quarter ended June 30, 2025 declined $89.6 million or 2.0% from the first quarter of 2025. This decline was primarily driven by elevated payoffs as commercial real estate construction loans stabilized and obtained non-recourse permanent financing. Deposits increased $717.5 million, or 60.8% (annualized), during the second quarter of 2025, compared to an increase of $42.3 million, or 3.7% (annualized), during the first quarter of 2025. This increase was driven by a $397.5 million increase in interest-bearing transaction accounts, a $68.8 million increase in noninterest-bearing accounts, and a $251.2 million increase in time deposits. Total deposits increased $952.7 million or 21.18% to $5.4 billion at June 30, 2025, compared to $4.5 billion at June 30, 2024. Organic deposit growth for the quarter ended June 30, 2025 was $96.2 million or 8.2%, annualized (excluding William Penn acquisition deposits of $621.3 million), from the first quarter of 2025. The core efficiency ratio(1) improved to 62.56% in the second quarter of 2025, compared to 62.79% in the first quarter of 2025, and 63.65% in the second quarter of 2024. Book value per common share declined to $33.85 as of June 30, 2025, compared to $34.50 as of March 31, 2025, and improved compared to $33.76 as of June 30, 2024. Tangible book value per common share (1) was $27.22 as of June 30, 2025, compared to $27.58 and $25.75 as of March 31, 2025 and June 30, 2024, respectively. The decline in book value primarily reflects the impact of the William Penn acquisition, including the issuance of additional common shares and the addition of acquisition related goodwill and other intangibles. As a result of the foregoing, the Board of Directors declared a cash dividend of $0.20 per common share, payable August 25, 2025, to shareholders of record as of August 8, 2025. Chair, President and CEO Rory G. Ritrievi provided the following statement: "The second quarter of 2025 for Mid Penn was virtually in line with what we expected. While our GAAP earnings were impacted by the completion of the William Penn acquisition within the quarter, excluding those one-time expenses establishes non-GAAP earnings of $0.70 per share, slightly in excess of the consensus estimate of $0.69 per share. Organic loan growth for the second quarter was negative by $89.6 million, or 2%, and since year end 2024, it is negative $42 million, or 1%. Throughout the first six months of 2025, we have had significant commercial real estate construction projects that reached completion and/or stabilization and, therefore, were refinanced out of a bank loan that significantly increased our natural principal runoff. At the same time, we have experienced the softest loan demand we have seen in many years. We attribute that soft demand to concerns over tariffs, interest rates, and the overall state of the economy. We are optimistic that loan pipelines will begin to improve through the rest of the year, and fully expect that we will hit the bottom end of our original loan growth target range by the end of the year. Organic deposit growth for the second quarter was $96 million, or 2%, and since the start of 2025, is $138 million, or almost 3%. With competition for deposits at an all-time high, I think those six-month growth numbers are solid. As with loan growth, I fully expect that we will reach the mid-point of our original target range on deposit growth by the end of the year. Throughout the quarter, we had improvements in net interest margin, cost of deposits, yields on loans, noninterest income and efficiency ratio, along with another solid quarter in asset quality, leading us to the consensus beat, notwithstanding the pullback in loans outstanding. We are encouraged by the results for the quarter while successfully completing the William Penn acquisition, and we are cautiously optimistic about what to anticipate for the remainder of 2025. It is our pleasure to announce that the Board has authorized its 59th consecutive quarterly dividend, a cash dividend of $0.20 per share of common stock, which was declared at its meeting on July 23, 2025, payable on August 25, 2025, to shareholders of record as of August 8, 2025." Net Interest Income For the three months ended June 30, 2025, net interest income was $48.2 million, compared to net interest income of $42.5 million for the three months ended March 31, 2025, and $38.8 million for the three months ended June 30, 2024. Interest income for the second quarter of 2025 includes $910 thousand of purchase accounting loan accretion related to the William Penn acquisition. This accretion reflects the recognition of fair value marks on acquired loans, which are accreted into interest income over the expected life of the assets. The tax-equivalent net interest margin for the three months ended June 30, 2025 was 3.44% compared to 3.37% and 3.12% for the first quarter of 2025 and second quarter of 2024, respectively, representing a 7 bp increase from the first quarter of 2025, and a 32 bp increase compared to the same period in 2024. The yield on interest-earning assets increased to 5.69% for the quarter ended June 30, 2025, from 5.65% for the three months ended March 31, 2025, and remained flat at 5.69% for the three months ended June 30, 2024. The increase from the first quarter of 2025 was primarily due to an increase in interest income on loans, and an increase in the average balance of Federal Funds Sold. For the six months ended June 30, 2025, net interest income increased 20.6% to $90.7 million compared to net interest income of $75.2 million for the same period of 2024. The increase was primarily driven by a $9.7 million increase in interest income on loans, a $2.3 million increase in Fed Funds Sold, partially offset by a $4.5 million increase in interest expense on deposits, and a $7.4 million decrease in the interest paid on short term borrowings, compared to the same period of 2024. Average Balances Average balances were significantly impacted by the William Penn acquisition given that the acquisition closed on April 30, 2025. Day one increases in loans, total assets, deposits, and total liabilities were $431.4 million, $757.3 million, $621.3 million, and $635.0 million, respectively. Average loans increased $265.0 million to $4.7 billion for the quarter ended June 30, 2025, compared to $4.5 billion for the quarter ended March 31, 2025, and increased $371.3 million compared to $4.4 billion for the quarter ended June 30, 2024. Average deposits were $5.2 billion for the second quarter of 2025, reflecting an increase of $478.0 million, or 10.2%, compared to total average deposits of $4.7 billion in the first quarter of 2025, and an increase of $708.1 million, or 15.9%, compared to total average deposits of $4.5 billion for the second quarter of 2024, primarily due to the William Penn acquisition and organic growth. The average cost of deposits was 2.41% for the second quarter of 2025, representing a 2 bp decrease and an 18 bp decrease from the first quarter of 2025 and the second quarter of 2024, respectively. Cost of funds decreased to 2.44%, compared to 2.48% for the first quarter of 2025. Despite a higher total interest expense, cost of funds declined during the quarter, primarily due to the growth in average interest-bearing liabilities, driven in part by the addition of lower-cost deposits acquired in the William Penn acquisition. These deposits helped dilute the overall cost of funding, contributing to the decline. Asset Quality The total provision for credit losses, including provision for credit losses on off-balance sheet credit exposures, was $2.3 million for the three months ended June 30, 2025, an increase of $2.0 million compared to the provision for credit losses of $301 thousand for the three months ended March 31, 2025, and a $665 thousand increase compared to the provision for credit losses of $1.6 million for the three months ended June 30, 2024. The increase in provision was primarily driven by a $2.3 million reserve established for non-PCD (Purchased Credit Deteriorated) loans acquired in the William Penn acquisition, offset by an $866 thousand decrease in reserve required for individually analyzed loans. Net charge offs for the three months ended June 30, 2025, were $811 thousand or less than 0.02% of total average loans. The provision for credit losses on loans was $2.6 million for the six months ended June 30, 2025, an increase of $1.4 million compared to the provision for credit losses of $1.2 million for the six months ended June 30, 2024. This increase for the six months ended June 30, 2025 was primarily due to a $2.3 million reserve on non-PCD loans acquired through the William Penn acquisition. The provision for credit losses on off-balance sheet credit exposures was $23 thousand and $3 thousand for the three and six months ended June 30, 2025, respectively. The increase was primarily driven by new participations in construction loans originated in the second quarter. Allowance for credit losses - loans was 0.78%, 0.80%, and 0.81% of loans, net of unearned income at June 30, 2025, March 31, 2025, and June 30, 2024, respectively. Total nonperforming assets were $28.0 million at June 30, 2025, compared to nonperforming assets of $25.4 million and $10.4 million at March 31, 2025 and June 30, 2024, respectively. The increase during the second quarter of 2025 primarily related to $2.6 million of non-accrual loans acquired from William Penn, partially offset by reductions to other non-accrual loans. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.58% at June 30, 2025, compared to 0.50% and 0.57% as of March 31, 2025 and June 30, 2024, respectively. Capital Shareholders’ equity increased $120.7 million, or 18.4%, from $655.0 million as of December 31, 2024, to $775.7 million as of June 30, 2025. Retained earnings increased $105 thousand, or 0.1%, from $191.5 million as of March 31, 2025 to $191.6 million as of June 30, 2025. The increase was primarily due to the William Penn acquisition. Regulatory capital ratios for both Mid Penn and the Bank indicate regulatory capital levels in excess of both the regulatory minimums and the levels necessary for the Bank to be considered "well capitalized" at June 30, 2025. Additionally, Mid Penn declared $4.7 million in dividends during the second quarter of 2025. On April 23, 2025, Mid Penn’s Board of Directors reauthorized its treasury stock repurchase program ("The Program") effective through April 30, 2026. The Program authorizes the repurchase of up to $15.0 million of Mid Penn’s outstanding common stock. During the three months ended June 30, 2025, Mid Penn repurchased 48,064 shares of common stock at an average price of $28.36. No shares were repurchased in the first quarter for 2025. As of June 30, 2025, Mid Penn repurchased a total of 488,786 shares of common stock at an average price of $23.33 per share under the Program. The Program had approximately $3.6 million remaining available for repurchase as of June 30, 2025. Noninterest Income For the three months ended June 30, 2025, noninterest income totaled $6.1 million, an increase of $904 thousand, or 17.3%, compared to noninterest income of $5.2 million for the first quarter of 2025. The increase is primarily due to a $266 thousand increase in fiduciary and wealth management, a $217 thousand increase in earnings from the cash surrender value of life insurance as a result of policies assumed during the William Penn acquisition, and a $199 thousand increase in other noninterest income. The William Penn acquisition provides an opportunity for continued expansion into the Philadelphia markets, enabling the development of new wealth management and insurance customer relationships, which will help strengthen noninterest income. For the six months ended June 30, 2025, noninterest income totaled $11.4 million, an increase of $216 thousand, or 1.9%, compared to noninterest income of $11.2 million for the six months ended June 30, 2024. The increase in noninterest income is primarily driven by a $285 thousand increase in fiduciary and wealth management, a $215 thousand increase in mortgage banking income, and a $180 thousand increase in earnings from the cash surrender value of life insurance as a result of policies assumed during the William Penn acquisition, offset by a $512 thousand decrease in other miscellaneous noninterest income, driven by a $1.9 million decrease in Bank-owned life insurance benefits received, partially offset by a $568 thousand increase in loan level swap fees. Noninterest Expense For the three months ended June 30, 2025, noninterest expense totaled $47.8 million, an increase of $17.2 million, or 55.99%, compared to noninterest expense of $30.6 million in the first quarter of 2025. Merger and acquisition expenses increased $10.7 million, which includes $10.5 million of merger related expenses related to the William Penn acquisition and $164 thousand related to the Charis Insurance Group acquisition. Salaries and benefits increased $4.4 million for the three months ended June 30, 2025 compared to the first quarter of 2025. The increase is attributable to (i) equity-based compensation expense for stock options and restricted stock awards totaling $2.0 million that were recognized during the second quarter of 2025. (Future expected compensation expense related to these awards is approximately $753 thousand for the third quarter of 2025 and $2.2 million over the remaining vesting periods); (ii) the retail staff additions at the twelve retail locations added through the William Penn acquisition; and (iii) the retention of various William Penn team members through the completion of systems integration, which occurred on June 20, 2025. Software licensing and utilization costs increased $698 thousand compared to the first quarter of 2025. The increase reflects additional costs to (i) license the additional William Penn branches; and (ii) upgrades to internal systems, including network storage, cybersecurity, and data security enhancements in response to the Bank's larger size and increased IT complexity. For the six months ended June 30, 2025, noninterest expense totaled $78.4 million, an increase of $21.7 million, or 38.2%, compared to noninterest expense of $56.7 million for the six months ended June 30, 2024. Merger and acquisition expenses increased $11.3 million for the six months ended June 30, 2025, which includes $11.2 million of merger related expenses related to the William Penn acquisition and $164 thousand related to the Charis Insurance Group acquisition. Salaries and benefits increased $6.1 million for the six months ended June 30, 2025, compared to the same period in 2024, largely driven by the same Q2 items noted above, including $2.0 million in equity compensation, staff additions from the William Penn acquisition, and retention of key personnel through integration. Software licensing and utilization costs increased $1.5 million for the six months ended June 30, 2025, compared to the same period in 2024, reflecting the same Q2 drivers noted above. These include the onboarding of newly acquired William Penn branches, investments in IT infrastructure and cybersecurity. Occupancy expenses increased $796 thousand for the six months ended June 30, 2025, compared to the same period in 2024. The increase was driven by the facility operating costs of the additional retail locations added through the William Penn acquisition. The core efficiency ratio(1) was 62.6% in the second quarter of 2025, compared to 62.8% in the first quarter of 2025 and 63.7% in the second quarter of 2024. The change in the core efficiency ratio during the second quarter of 2025 compared to the first quarter of 2025 was the result of higher net interest income and higher noninterest income, partially offset by higher noninterest expense. Mid Penn continues to evaluate levels of noninterest expense for opportunities to reduce operating costs throughout the organization. William Penn Acquisition On April 30, 2025, Mid Penn completed its acquisition of William Penn through the merger of William Penn with and into Mid Penn. Each share of William Penn common stock issued and outstanding as of April 30, 2025, was converted into 0.426 shares of Mid Penn common stock. As a result of the acquisition, Mid Penn issued approximately 3,506,795 shares of Mid Penn common stock, plus up to an additional 538,447 shares of Mid Penn common stock issuable upon the exercise of former William Penn stock options, for a purchase price of $103.2 million. Mid Penn also recorded Goodwill of $6.2 million, and a core deposit intangible asset of $245 thousand as a result of this acquisition. Charis Insurance Group Acquisition On May 12, 2025, Mid Penn acquired the insurance business and related accounts of Charis Insurance Group, which provides business, home and auto insurance throughout central and southern Pennsylvania, for a purchase price of $4.0 million at closing. Mid Penn recorded Goodwill of $1.6 million, as a result of this acquisition. The assets and liabilities assumed in these transactions were recorded at their estimated fair values as of the respective date of acquisition and may be adjusted for up to one year subsequent to legal closing. Subsequent Events Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements when filed with the Securities and Exchange Commission ("SEC"). Accordingly, the financial information in this announcement is subject to change. The statements are valid only as of the date hereof and Mid Penn disclaims any obligation to update this information. SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn’s portfolio; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn’s initial expectations, including the full realization of anticipated cost savings and revenue enhancements; the possibility that the anticipated benefits of a transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in legacy Mid Penn and target markets; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of a transaction; the ability to complete the integration of Mid Penn and its target successfully; the dilution caused by Mid Penn’s issuance of additional shares of its capital stock in connection with a transaction; and other factors that may affect the future results of Mid Penn. For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of unanticipated events, except as required by law. SUMMARY FINANCIAL HIGHLIGHTS (Unaudited): CONSOLIDATED BALANCE SHEETS (Unaudited): CONSOLIDATED STATEMENTS OF INCOME (Unaudited): CONSOLIDATED – AVERAGE BALANCE SHEET AND NET INTEREST INCOME ANALYSIS (Unaudited): ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY (Unaudited): RECONCILIATION OF NON-GAAP MEASURES (Unaudited) Explanatory note: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Mid Penn’s management uses these non-GAAP financial measures in their analysis of Mid Penn’s performance. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value. We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing tangible book value. Income tax effects of non-GAAP adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges (benefits) are incurred, while taking into consideration any valuation allowances or non-deductible portions of the non-GAAP adjustments. Adjusted earnings per common share excludes from income available to common shareholders certain expenses related to significant non-core activities, including merger-related expenses, net of income taxes. For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity. The core efficiency ratio is often used by management to measure its noninterest expense as a percentage of its revenue. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Mid Penn’s results and financial condition as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes that this non-GAAP supplemental information will be helpful in understanding Mid Penn’s ongoing operating results. This supplemental presentation should not be construed as an inference that Mid Penn’s future results will be unaffected by similar adjustments to be determined in accordance with GAAP. The reconciliation of the non-GAAP to comparable GAAP financial measures can be found in the tables below. Tangible Book Value Per Common Share Adjusted Earnings Per Common Share Excluding Non-Recurring Income and Expenses Return on Average Tangible Common Equity Core Efficiency Ratio View source version on businesswire.com: https://www.businesswire.com/news/home/20250723301309/en/ Contacts Mid Penn Bancorp, Inc. 1-866-642-7736 Rory G. Ritrievi Chair, President & Chief Executive Officer Justin T. Webb Chief Financial Officer

HARRISBURG, Pa., April 23, 2025--(BUSINESS WIRE)--Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended March 31, 2025, of $13.7 million, or $0.71 per diluted common share, compared to net income of $12.1 million, or $0.73 per diluted common share, for the first quarter of 2024, and a consensus analyst estimate of $0.63 per diluted common share for the first quarter of 2025. Key Highlights of the First Quarter of 2025: Net income available to common shareholders increased 13.3% to $13.7 million, or $0.71 per diluted common share, for the first quarter of 2025, compared to net income of $12.1 million, or $0.73 per diluted common share, for the first quarter of 2024. On a non-GAAP basis, core earnings(1) for the quarter ended March 31, 2025, increased 30.3% to $13.9 million, or $0.72 per diluted common share, compared to $10.7 million, or $0.64 per diluted common share, for the first quarter of 2024. Net interest margin increased to 3.37% for the quarter ended March 31, 2025, compared to 3.21% for the fourth quarter of 2024. Cost of funds decreased to 2.48% for the quarter ended March 31, 2025, compared to 2.66% for the fourth quarter of 2024, as a result of a decrease in interest paid on interest-bearing deposit accounts, driven by the Bank lowering rates in response to the Federal Reserve interest rate cuts in the third and fourth quarters of 2024. The yield on loans decreased to 6.05% for the quarter ended March 31, 2025, compared to 6.10% for the fourth quarter of 2024. Net interest margin increased to 3.37% for the quarter ended March 31, 2025, compared to 2.97% for the first quarter of 2024, representing a 40 bp increase compared to the same period in 2024. Loan growth for the first quarter of 2025 was $48.1 million, or 4.4% (annualized), as the Bank continued to execute on its restrained growth strategy in 2025. Total loans increased $173.7 million, or 4.0% to $4.5 billion at March 31, 2025, compared to $4.3 billion at March 31, 2024. Deposits increased $42.3 million, or 3.7% (annualized), during the first quarter of 2025, compared to a decrease of $16.8 million, or 1.4% (annualized), during the fourth quarter of 2024. This increase was driven by a $55.5 million increase in interest-bearing transaction accounts, a $29.1 million increase in noninterest-bearing accounts, offset by $42.3 million decrease in time deposits. Total deposits increased $353.1 million or 8.06% to $4.7 billion at March 31, 2025, compared to $4.4 billion at March 31, 2024. Book value per common share improved to $34.50 as of March 31, 2025, compared to $33.84 and $33.26 as of December 31, 2024 and March 31, 2024, respectively. Tangible book value per common share (1) improved to $27.58 for as of March 31, 2025, compared to $26.90 and $25.23 as of December 31, 2024 and March 31, 2024, respectively. The core efficiency ratio(1) improved to 62.79% in the first quarter of 2025, compared to 63.9% in the fourth quarter of 2024, and 68.8% in the first quarter of 2024. As a result of the foregoing, the Board of Directors declared a cash dividend of $0.20 per common share, payable May 26, 2025, to shareholders of record as of May 8, 2025. Chair, President and CEO Rory G. Ritrievi provided the following statement: "It is with great pleasure that we announce our first quarter of 2025 performance, which in many ways is a continuation of what we were able to accomplish in 2024. Despite a fairly tumultuous quarter for the nation and most of the world, we delivered a solid beat of consensus estimates on earnings per share. That beat was the result of healthy net interest margin expansion, moderate growth in both loans and deposits, strong asset quality performance and an improvement in the efficiency ratio. The net interest margin expansion was achieved by a decrease in deposit costs resulting from repricing initiatives started in the fourth quarter of 2024 and continuing through the first quarter of 2025. Even while increasing revenues around 3% annualized, we decreased operating expenses over 3% annualized, resulting in a 110 basis point, or almost 7% annualized, improvement in the efficiency ratio. Solid expense management continues. Our commercial and consumer bankers across our expanding footprint delivered a respectable organic growth rate of 4.4% (annualized) in loans and 3.7% (annualized) in deposits. Those growth rates are a little less than what we had hoped for the quarter, but we recognize that our borrower’s and depositors are influenced by what they feel and see in the overall economy. Their sentiment in the first quarter would be best described as cautious. In early April, we announced that we had received all regulatory approvals for our planned merger with William Penn Bank as well as the enthusiastic approval of both shareholder groups. As a result, we expect that the William Penn merger will close in the middle of the second quarter of 2025. We welcome all the William Penn customers and shareholders in advance of the expected completion. In consideration of our first quarter success, the Board has authorized its 58th consecutive quarterly dividend, a cash dividend of $0.20 per share of common stock, which was declared at its meeting on April 23, 2025, payable on May 26, 2025, to shareholders of record as of May 8, 2025." Net Interest Income For the three months ended March 31, 2025, net interest income was $42.5 million, compared to net interest income of $41.3 million for the three months ended December 31, 2024, and $36.5 million for the three months ended March 31, 2024. The tax-equivalent net interest margin for the three months ended March 31, 2025, was 3.37% compared to 3.21% and 2.97% for the fourth quarter of 2024 and first quarter of 2024, respectively, representing a 16 basis point ("bp") increase from the fourth quarter of 2024, and a 40 bp increase compared to the same period in 2024. The yield on interest-earning assets decreased to 5.65% for the quarter ended March 31, 2025, from 5.67% for the three months ended December 31, 2024, and increased from 5.51% for the three months ended March 31, 2024. The decrease from the fourth quarter of 2024 was primarily due to a decrease in the average balance of Federal Funds Sold and a decrease in interest income from loans as a result of lower rates, partially offset by an increase in taxable investment securities. The increase from March 31, 2024, was due to assets continuing to reprice at higher rates during 2024 and 2025, continued discipline on new loan pricing, and an overall increase in the average balance of Fed Funds Sold. For the three months ended March 31, 2025, net interest income increased 16.6% to $42.5 million compared to net interest income of $36.5 million for the same period of 2024. The increase was primarily due to a $3.3 million increase in interest income on loans, a $420 thousand increase in income on investment securities, and a $4.2 million decrease in the interest paid on short term borrowings, offset by a $1.9 million increase in interest expense on deposits compared to the same period of 2024. Average Balances Average loans increased $18.2 million to $4.5 billion for the quarter ended March 31, 2025, compared to $4.4 billion for the quarter ended December 31, 2024, and $4.3 billion for the quarter ended March 31, 2024. Average deposits were $4.7 billion for the first quarter of 2025, reflecting a decrease of $6.2 million, or 0.1%, compared to total average deposits of $4.7 billion in the fourth quarter of 2024, and an increase of $369.6 million, or 8.6%, compared to total average deposits of $4.3 billion for the first quarter of 2024. The average cost of deposits was 2.45% for the first quarter of 2025, representing a 20 bp decrease and a 2 bp increase from the fourth quarter of 2024 and the first quarter of 2024, respectively. The Bank continues to face headwinds with respect to deposit pricing, given competition for deposits across all product types. Our primary focus with respect to deposit strategy is stability, ensuring that our rates are competitive, and our product mix satisfies the needs of our customers. Additionally, the Bank also maintains interest rate swaps to hedge the cash flow risk associated with existing brokered CDs, and to mitigate the impact of higher deposit costs. Cost of funds decreased to 2.48%, compared to 2.66% for the fourth quarter of 2024, as a result of a $2.6 million decrease in interest paid on interest-bearing deposit accounts due to the Bank lowering rates in response to the Federal Reserve interest rate cuts in the third and fourth quarters of 2024. Asset Quality The total provision for credit losses, including provision for credit losses on off-balance sheet credit exposures, was $301 thousand for the three months ended March 31, 2025, a decrease of $32 thousand compared to the provision for credit losses of $333 thousand for the three months ended December 31, 2024, and a $1.2 million increase compared to the benefit for credit losses of $937 thousand for the three months ended March 31, 2024. This decrease from the three months ended December 31, 2024, was driven by decreases in loss rates across multiple segments of the portfolio, offset by increased reserves on individually evaluated loans. Net recoveries for the three months ended March 31, 2025, were $3 thousand or less than 0.0001% of total average loans. The provision for credit losses on loans was $321 thousand for the three months ended March 31, 2025, an increase of $940 thousand compared to the benefit for credit losses of $619 thousand for the three months ended March 31, 2024. This increase for the three months ended March 31, 2025, was primarily due to an increase in loss factors across certain portfolios. The benefit for credit losses on off-balance sheet credit exposures was $20 thousand for the three months ended March 31, 2025. Allowance for credit losses - loans was 0.80%, 0.80%, and 0.78% of loans, net of unearned income at March 31, 2025, December 31, 2024, and March 31, 2024, respectively. Total nonperforming assets were $25.4 million at March 31, 2025, compared to nonperforming assets of $22.7 million and $15.5 million at December 31, 2024, and March 31, 2024, respectively. The increase during the first quarter of 2025 primarily related to the addition of three commercial loans with a combined balance of $7.0 million, partially offset by the payoff of two commercial loans with a combined balance of $3.0 million. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.50% at March 31, 2025, compared to 0.52% and 0.38% as of December 31, 2024, and March 31, 2024, respectively. Capital Shareholders’ equity increased $12.9 million, or 2.0%, from $655.0 million as of December 31, 2024, to $667.9 million as of March 31, 2025. Retained earnings increased $9.9 million, or 5.4%, from $181.6 million as of December 31, 2024, to $191.5 million as of March 31, 2025. Regulatory capital ratios for both Mid Penn and the Bank indicate regulatory capital levels in excess of both the regulatory minimums and the levels necessary for the Bank to be considered "well capitalized" at March 31, 2025. Additionally, Mid Penn declared $3.9 million in dividends during the first quarter of 2025. On April 23, 2025, Mid Penn’s Board of Directors reauthorized its treasury stock repurchase program ("The Program") effective through April 30, 2026. The Program authorizes the repurchase of up to $15.0 million of Mid Penn’s outstanding common stock. As of March 31, 2025, Mid Penn repurchased a total of 440,722 shares of common stock at an average price of $22.78 per share under the Program. No shares were purchased in the first quarter of 2025. The Program had approximately $5.0 million remaining available for repurchase as of March 31, 2025. Noninterest Income For the three months ended March 31, 2025, noninterest income totaled $5.2 million, a decrease of $910 thousand, or 14.8%, compared to noninterest income of $6.1 million for the fourth quarter of 2024. The decrease is primarily due to a $717 thousand decrease in other miscellaneous noninterest income, driven by a $532 thousand decrease in Bank-owned life insurance benefits received, and $106 million decrease in insurance commissions. For the three months ended March 31, 2025, noninterest income totaled $5.2 million, a decrease of $598 thousand, or 10.2%, compared to noninterest income of $5.8 million for the three months ended March 31, 2024. The decrease in noninterest income is primarily driven by a $731 thousand decrease in other miscellaneous noninterest income, driven by a $1.4 million decrease in Bank-owned life insurance benefits received, partially offset by a $357 thousand increase in loan level swap fees, a $113 thousand increase in other letter of credit income, and a $167 thousand increase in Mortgage Banking income. Noninterest Expense Total noninterest expense decreased $272 thousand to $30.6 million in the first quarter of 2025 from $30.9 million in the fourth quarter of 2024. The decrease was driven by a $638 thousand decrease in salaries and employee benefits, driven by a decrease in bonuses paid, partially offset by a $514 thousand increase in shares tax. For the three months ended March 31, 2025, noninterest expense totaled $30.6 million, an increase of $2.1 million, or 7.4%, compared to noninterest expense of $28.5 million for the three months ended March 31, 2024. The increase was primarily driven by a $847 thousand increase in salaries and employee benefits, a $454 thousand increase in software licensing, a $314 thousand increase in merger and acquisition expenses, and a $292 thousand increase in occupancy expenses, partially offset by a $172 thousand decrease in legal and professional fees. The core efficiency ratio(1) was 62.8% in the first quarter of 2025, compared to 63.9% in the fourth quarter of 2024, and 68.8% in the first quarter of 2024. The change in the core efficiency ratio during the first quarter of 2025 compared to the fourth quarter of 2024 was the result of slightly higher net interest income, partially offset by lower noninterest income, and slightly lower noninterest expense. Mid Penn continues to evaluate levels of noninterest expense for opportunities to reduce operating costs throughout the organization. Subsequent Events Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements when filed with the Securities and Exchange Commission ("SEC"). Accordingly, the financial information in this announcement is subject to change. The statements are valid only as of the date hereof and Mid Penn disclaims any obligation to update this information. On April 2, 2025, Mid Penn and William Penn Bancorporation ("William Penn") announced that shareholders of both companies overwhelmingly approved Mid Penn's proposed acquisition of William Penn. The approvals were obtained at special meetings of shareholders held by each company on April 2, 2025. SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn’s portfolio; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn’s initial expectations, including the full realization of anticipated cost savings and revenue enhancements; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement between Mid Penn and William Penn; the outcome of any legal proceedings that may be instituted against Mid Penn or William Penn; delays in completing the transaction; the failure to satisfy any of the other conditions to the transaction on a timely basis or at all; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in legacy Mid Penn and target markets; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the integration of Mid Penn and William Penn successfully; the dilution caused by Mid Penn’s issuance of additional shares of its capital stock in connection with the transaction; and other factors that may affect the future results of Mid Penn or William Penn. For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of unanticipated events, except as required by law. SUMMARY FINANCIAL HIGHLIGHTS (Unaudited): CONSOLIDATED BALANCE SHEETS (Unaudited): CONSOLIDATED STATEMENTS OF INCOME (Unaudited): CONSOLIDATED – AVERAGE BALANCE SHEET AND NET INTEREST INCOME ANALYSIS (Unaudited): ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY (Unaudited): RECONCILIATION OF NON-GAAP MEASURES (Unaudited) Explanatory note: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Mid Penn’s management uses these non-GAAP financial measures in their analysis of Mid Penn’s performance. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value. We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing tangible book value. Income tax effects of non-GAAP adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges (benefits) are incurred, while taking into consideration any valuation allowances or non-deductible portions of the non-GAAP adjustments. Adjusted earnings per common share excludes from income available to common shareholders certain expenses related to significant non-core activities, including merger-related expenses, net of income taxes. For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity. The core efficiency ratio is often used by management to measure its noninterest expense as a percentage of its revenue. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Mid Penn’s results and financial condition as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes that this non-GAAP supplemental information will be helpful in understanding Mid Penn’s ongoing operating results. This supplemental presentation should not be construed as an inference that Mid Penn’s future results will be unaffected by similar adjustments to be determined in accordance with GAAP. The reconciliation of the non-GAAP to comparable GAAP financial measures can be found in the tables below. Tangible Book Value Per Common Share Adjusted Earnings Per Common Share Excluding Non-Recurring Income and Expenses Return on Average Tangible Common Equity Core Efficiency Ratio View source version on businesswire.com: https://www.businesswire.com/news/home/20250423533348/en/ Contacts Mid Penn Bancorp, Inc. 1-866-642-7736 Rory G. Ritrievi Chair, President & Chief Executive Officer Justin T. Webb Chief Financial Officer