Press release
Mid Penn Bancorp, Inc. and William Penn Bancorporation Receive Regulatory Approvals for Merger
HARRISBURG, Pa.--(BUSINESS WIRE)-- Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB) and William Penn Bancorporation (“William Penn”) (NASDAQ: WMPN)
About this update from Mid Penn Bancorp
[{"type":"text","content":" HARRISBURG, Pa.--(BUSINESS WIRE)--\nMid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB) and William Penn Bancorporation (“William Penn”) (NASDAQ: WMPN) announced today that they have received all required approvals from the applicable bank regulatory agencies to complete the proposed merger of William Penn with and into Mid Penn. Pending receipt of approval from shareholders of Mid Penn and William Penn, and certain other customary closing conditions, the parties intend to close the transaction in the second quarter of 2025. Following completion of the merger, William Penn Bank will be merged with and into Mid Penn Bank.\n\n“We are pleased to have received regulatory approval of our merger that supports our growth objectives, complements our franchise, and propels long-term shareholder value,” Mid Penn President and CEO Rory G. Ritrievi said. “Mid Penn and William Penn continue to work collectively towards a second-quarter closing of this transaction and are meeting timelines and milestones as expected.”\n\nThe merger will further extend Mid Penn’s footprint into the attractive Greater Philadelphia Metro market, and will expand its presence in Southeastern Pennsylvania and Central New Jersey. Mid Penn, on a pro forma basis following completion of the merger, is projected to have $6.3 billion in assets.\n\nAbout Mid Penn Bancorp, Inc.\n\nMid Penn Bancorp Inc. (NASDAQ: MPB), headquartered in Harrisburg, Pennsylvania, is the parent company of Mid Penn Bank, a full-service commercial bank. Mid Penn operates 47 retail locations throughout Pennsylvania and central New Jersey, has total assets of approximately $5 billion, and offers a comprehensive portfolio of financial products and services to the communities it serves. To learn more, please visit www.midpennbank.com.\n\nAbout William Penn Bancorporation\n\nWilliam Penn Bancorporation (NASDAQ: WMPN), headquartered in Bristol, Pennsylvania, is the parent company of William Penn Bank and provides community banking services to individuals and small – to medium-sized businesses in the Delaware Valley area. William Penn currently conducts business through 12 branch offices located in Pennsylvania and New Jersey.\n\nImportant Additional Information and Where to Find It\n\nThe proposed merger will be submitted to the shareholders of William Penn and Mid Penn for their consideration and appro...