A Pennsylvania-focused regional bank, similar to a smaller version of PNC Bank.

Think of it as a full-service community bank for many towns across Pennsylvania, like a localized version of a major regional bank such as Truist.

• Deposit Services: Provides various accounts for individuals and businesses to save and manage their money, including checking, savings, money market, CDs, and IRAs.
• Lending Services: Offers a broad range of loan products for personal, commercial, and specialized needs, such as mortgages, home equity, consumer loans, and commercial financing.
• Wealth Management Services: Delivers trust and wealth management solutions to help clients manage and grow their assets.
• Banking Operations & Support Services: Offers essential banking conveniences like online banking, ATM services, cash management, and safe deposit boxes.

Mid Penn Bancorp (MPB) operates as a community bank, serving a diverse customer base rather than selling primarily to a few major corporate customers that could be individually named. Based on the services described, the company serves the following categories of customers:

• Individuals: This category includes customers who utilize services such as checking accounts, savings accounts, money market accounts, certificates of deposit, IRAs, mortgage and home equity loans, and various consumer loans.
• Businesses and Commercial Entities: This category encompasses partnerships and corporations seeking commercial loans, lines of credit, construction financing, cash management services, and business deposit accounts.
• Non-profit Organizations and Local Governments: Mid Penn Bancorp provides specialized loans for non-profit entities, local government loans, and community development loans, in addition to general banking services for these organizations.

Rory G. Ritrievi, Chair, President and Chief Executive Officer

Rory G. Ritrievi joined Mid Penn Bank and its parent company, Mid Penn Bancorp, Inc., in 2009 as President and Chief Executive Officer, and has served as Chair of the Board since July 2021. He has over 39 years of experience in the financial services industry and is a licensed, though non-practicing, attorney in Pennsylvania. Under his leadership, Mid Penn Bancorp has undergone a multi-year expansion, including acquisitions. Prior to joining Mid Penn, Mr. Ritrievi served as Market President and Chief Lending Officer of Commerce Bank, Harrisburg. He was also previously associated with Metro Bancorp Inc. as its Chief Lending Officer.

Justin T. Webb, Chief Financial Officer

Justin T. Webb was appointed Chief Financial Officer of Mid Penn Bancorp, Inc. on January 8, 2024. He joined Mid Penn Bank in 2012 as Chief Credit Officer, later serving as Chief Risk Officer from 2014 to 2018, and then as Senior Executive Vice President and Chief Operating Officer. Mr. Webb brings over two decades of experience in the financial services industry. In his current role, he oversees the company's financial strategy and performance, including accounting operations, interest rate risk, liquidity, financial planning, and mergers and acquisitions. Before his tenure at Mid Penn Bank, he was a Vice President and Credit Risk Manager for the Commercial Real Estate Bank at Bank of America.

Kenneth J. Stephon, Chief Corporate Development Officer

Kenneth J. Stephon joined Mid Penn Bank and Mid Penn Bancorp, Inc. in 2025 as a Director and Chief Corporate Development Officer of the Company and the Bank, and also serves as Vice Chair of Mid Penn Bank. Previously, Mr. Stephon was Chairman, President, and Chief Executive Officer of William Penn Bancorporation until its merger with Mid Penn Bancorp, Inc. He also served as Senior Executive Vice President and Chief Operating Officer of William Penn Bank from July 2018 until October 2018, before becoming President. He was appointed Chief Executive Officer of William Penn Bancorporation and William Penn Bank in February 2019.

Scott W. Micklewright, President of the Commercial and Consumer Bank and Chief Revenue Officer

Scott W. Micklewright was promoted to President of the Commercial and Consumer Bank and Chief Revenue Officer of Mid Penn Bank, a wholly-owned subsidiary of Mid Penn Bancorp, Inc., effective January 18, 2024. In this role, he oversees all aspects of commercial and consumer banking, including loan and deposit activity, cash management, interchange and credit card revenue, and the regional team structure. Mr. Micklewright joined Mid Penn Bank in 2009 as Vice President and Senior Middle Market Loan Manager. He has over 20 years of experience in the financial services industry and was instrumental in developing a high-performing team in commercial lending, cash management, residential mortgage, SBA, and agricultural lending.

Dana R. Stewart, Chief Operating Officer

Dana R. Stewart was appointed as First Executive Vice President and Chief Operating Officer of Mid Penn Bank, effective January 5, 2026. In this capacity, he leads the Bank's loan and deposit operations groups. Mr. Stewart brings more than 35 years of experience in the financial services industry. Prior to joining Mid Penn Bank, he served as Senior Vice President and Director of the Project Management Office at First National Bank in Pittsburgh, PA, and previously as a Managing Director for BNYMellon.

Key Risks to Mid Penn Bancorp (MPB)

1. Interest Rate Risk: Mid Penn Bancorp's earnings and cash flows are heavily reliant on its net interest income, which is sensitive to fluctuations in interest rates and policies set by governmental and regulatory agencies, particularly the Federal Reserve.
2. Credit Risk, particularly Commercial Real Estate (CRE) Concentrations: The company has a significant concentration in commercial and commercial real estate lending, with non-owner-occupied CRE representing 28% of its total loans as of December 31, 2025. This exposure makes Mid Penn Bancorp vulnerable to adverse changes in real estate market conditions and potential deterioration in credit quality, as evidenced by an increase in non-performing assets.
3. Acquisition and Integration Risk: Mid Penn Bancorp has pursued an aggressive growth strategy through acquisitions. This approach carries risks related to successfully integrating acquired entities, managing increased expenses associated with mergers and acquisitions, and the potential for goodwill impairment if the anticipated financial benefits from these acquisitions are not realized.

• The rise of digital-only banks (neobanks) and online financial service providers. These entities operate with significantly lower overheads than traditional banks reliant on physical branch networks like Mid Penn Bancorp, offering competitive rates, advanced mobile apps, and streamlined services that attract customers away from established institutions for deposits, loans, and other core banking needs.
• Specialized fintech companies that disaggregate traditional banking services. These include online lenders (e.g., for mortgages or small business loans), payment platforms, and robo-advisors for wealth management, which directly compete with Mid Penn Bancorp's specific loan products, transaction services, and trust and wealth management offerings by providing faster, often cheaper, and more convenient digital-first solutions.
• Big technology companies leveraging their existing massive user bases and platforms to enter financial services. Examples include Apple's expansion into high-yield savings accounts and payment solutions, directly competing for deposits and customer relationships that traditionally belong to banks like Mid Penn Bancorp.

• Commercial Banking Services (including commercial and consumer loans): The market size of the Commercial Banking industry in Pennsylvania is projected to be $43.2 billion in 2026. This industry encompasses financial services provided to both retail and business clients, including commercial, industrial, and consumer loans. Additionally, the annual commercial real estate transaction volume in Pennsylvania is approximately $18.5 billion.
• Deposit Products: The total deposits held at community bank branches in Pennsylvania amounted to $227.98 billion as of December 13, 2024.
• Mortgage and Home Equity Loans: In 2022, there were around 126,000 mortgage originations for owner-occupied homes in Pennsylvania. With the average Pennsylvania mortgage being $267,022, the estimated market size for new mortgage originations in Pennsylvania in 2022 was approximately $33.64 billion.
• Trust and Wealth Management Services: The market size for the Portfolio Management & Investment Advice industry in Pennsylvania is estimated to be $24.3 billion in 2026. Pennsylvania is recognized as a key region for the wealth management platform market in the Northeast U.S.

Mid Penn Bancorp (MPB) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and operational strengths:

1. Strategic Acquisitions and Market Expansion: Mid Penn Bancorp has a consistent strategy of growth through acquisitions, which is expected to continue expanding its geographic footprint and asset base. The company completed the acquisition of William Penn Bancorp in May 2025, adding 12 branches and enhancing its presence in the greater Philadelphia area and surrounding counties in Pennsylvania and New Jersey. Subsequently, Mid Penn Bancorp completed the acquisition of 1st Colonial Bancorp in March 2026, further extending its reach into the greater Philadelphia metropolitan area, particularly southern New Jersey, and increasing consolidated assets to over $7.2 billion. The CEO aims to increase assets in the Greater Philadelphia region to $5 billion in the coming years through both organic growth and additional acquisitions.
2. Organic Loan and Deposit Growth: A significant driver of revenue growth is expected to come from continued organic expansion in its loan and deposit portfolios. Net interest income, a primary revenue stream, rose approximately 27% year-over-year in 2025, primarily fueled by growth in loans and deposits. In 2025, loan balances experienced a 9.4% increase to $4.9 billion, and deposits grew even faster, rising 11.2% to $5.2 billion. The company's deposit base expanded by 11.2% in 2025, with notable growth in interest-bearing transaction accounts. Mid Penn's focus on relationship banking and commercial lending, including commercial real estate (CRE), is expected to underpin this growth.
3. Diversification of Product and Service Offerings: Mid Penn Bancorp is expanding its non-interest income through a broader range of financial products and services. Growth in noninterest income has been observed in areas such as insurance commissions, fiduciary and wealth management services, and mortgage banking. The acquisition of Cumberland Advisors Inc., an investment advisory firm, further adds to fee-based revenue streams. The integration of acquired banks like William Penn Bancorp and 1st Colonial Bancorp allows for the cross-selling of Mid Penn's comprehensive suite of services, including online banking, bill payments, and specialized commercial and industrial client offerings, to a larger customer base. Additionally, the company has launched expanded mobile banking features to provide greater convenience and flexibility for customers.
4. Improved Net Interest Margin (NIM): The company has demonstrated an ability to improve its net interest margin, which directly impacts profitability and revenue. The net interest margin improved from 3.11% in 2024 to 3.56% in 2025, and further increased to 3.79% in the fourth quarter of 2025. This improvement indicates effective management of interest-earning assets and interest-bearing liabilities, contributing positively to net interest income.

Share Repurchases

• Mid Penn Bancorp's Board of Directors reauthorized a treasury stock repurchase program for up to $15.0 million, effective through April 30, 2026.
• 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, approximately $2.7 million remained available under the repurchase program.

Share Issuance

• Mid Penn Bancorp completed a public offering of 2,375,000 shares of common stock on November 4, 2024, as part of an $80 million capital raise.
• In connection with the acquisition of William Penn Bancorporation, completed on April 30, 2025, approximately 3.6 million shares of Mid Penn common stock were issued.
• For the acquisition of 1st Colonial Bancorp, completed on February 27, 2026, approximately 2.11 million new Mid Penn shares were issued as part of the cash and stock transaction.

Outbound Investments

• Mid Penn Bancorp completed the acquisition of 1st Colonial Bancorp on February 27, 2026, in a cash-and-stock transaction valued at approximately $106.1 million, expanding its presence in the greater Philadelphia metropolitan area and southern New Jersey.
• Mid Penn Bancorp completed the acquisition of William Penn Bancorporation in May 2025 in an all-stock transaction valued at approximately $127 million, which added $757.3 million in total assets and expanded its geographic reach, including insurance offerings through Charis Insurance Group.
• The company acquired Cumberland Advisors, an investment advisory firm, with the deal closing on January 1, 2026, adding approximately $3.2 billion in assets under management to its portfolio.

Capital Expenditures

• Occupancy expenses increased by $2.3 million for the year ended December 31, 2025, compared to 2024, primarily due to facility operating costs of additional retail locations added through the William Penn acquisition.
• Software licensing and utilization costs increased by $3.3 million for the year ended December 31, 2025, compared to the same period in 2024, indicating investment in technology.