FINANCIAL ADVISOR
Mid Penn Bancorp, Inc.
M&A Advisory
Has Agreed To Acquire
Transaction Details
On November 1, 2024 - Mid Penn Bancorp, Inc. (NASDAQ: MPB) (“Mid Penn”) and William Penn Bancorporation (“William Penn”) (NASDAQ: WMPN) jointly announced that they have entered into a definitive agreement and plan of merger.
The merger will create a powerful combined community banking franchise with approximately $6.3 billion in total assets, $4.9 billion in total loans and $5.3 billion in total deposits.
Shareholders of William Penn will receive 0.4260 shares of Mid Penn common stock for each share of William Penn common stock, based on Mid Penn’s closing stock price of $31.88 per share as of October 30, 2024, or $127 million, in the aggregate.
Mid Penn expects the merger to be immediately accretive to Mid Penn’s estimated earnings per share and to have a positive long-term impact on Mid Penn’s key profitability and operating ratios.
Sources: Company Press Release, Company Investor Presentation, S&P Global Market Intelligence.
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(1) Data as of transaction close.
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