Financial Advisor
Mid Penn Bancorp, Inc.
M&A Advisory
Has Acquired
Transaction Details
- On December 20, 2022, Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ:MPB), headquartered in Harrisburg, Pennsylvania, and Brunswick Bancorp (“Brunswick”) (OTCPK:BRBW), headquartered in New Brunswick, New Jersey, jointly announced the signing of a definitive merger agreement pursuant to which Mid Penn will acquire Brunswick in a combination cash and stock transaction valued at approximately $53.9 million.
- The transaction creates a combined community banking franchise with approximately $5.0 billion in assets, $4.2 billion in deposits and $3.8 billion in gross loans.
- Upon completion of the transaction, Mid Penn will add five total financial centers, four in Middlesex County and one in Monmouth County.
- Brunswick shareholders will have the option to elect to receive either 0.598 shares of Mid Penn common stock or $18.00 in cash for each common share of Brunswick they own.
Sources: Mid Penn Bancorp, Inc. issued Investor Presentation, Press Release, and S&P Global Market Intelligence.
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Note: Financial data as of or for the period ending 9/30/2022.
(1) Based on MPB spot price of $30.95 per share as of 12/19/2022 and the fixed exchange ratio of 0.598x and 2,840,974 BRBW shares outstanding plus the impact of 222,072 outstanding options with a weighted average exercise price of $8.97.
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