Press release
Mid Penn Bancorp, Inc. Completes Acquisition of Cumberland Advisors, Inc.
HARRISBURG, Pa.--(BUSINESS WIRE)-- Mid Penn Bancorp, Inc. (NASDAQ: MPB) (“Mid Penn”), parent company of Mid Penn Bank, announced today that its acquisition
About this update from Mid Penn Bancorp
[{"type":"text","content":" HARRISBURG, Pa.--(BUSINESS WIRE)--\nMid Penn Bancorp, Inc. (NASDAQ: MPB) (“Mid Penn”), parent company of Mid Penn Bank, announced today that its acquisition of Sarasota, FL-based Cumberland Advisors, Inc. (“Cumberland”) was completed on January 1, 2026. A registered investment advisory firm with clients both nationally and internationally, Cumberland had approximately $3.2 billion in assets under management as of December 31, 2025. In connection with the acquisition, Cumberland has been merged with and into a newly formed acquisition subsidiary of Mid Penn, operating as Cumberland Advisors, LLC, and its experienced team of investment advisory professionals has joined the Mid Penn team.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260105394498/en/\nRory G. Ritrievi, Chair, President and CEO of Mid Penn, stated, “We are excited to welcome the Cumberland Advisors team, customers and shareholders to the Mid Penn family. Cumberland has built a strong reputation for excellence and is the ideal choice to help us continue our legacy of delivering exceptional financial solutions while maintaining a strong commitment to customer care.”\n\n\nFounded in 1973, Cumberland is a fee-for-service investment management company serving advisors, individuals, and institutional investors. The firm has a conservative investment orientation to manage both risks as well as returns. Cumberland utilizes market leading knowledge, analysis, and independent research to advise its clients, and prides itself on its personalized service and long-lasting relationships.\n\n\nABOUT MID PENN BANCORP, INC.:\n\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 currently operates 59 retail locations throughout Pennsylvania and central and southern New Jersey, has total assets of over $6 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\n\nCautionary Note Regarding Forward-Looking Statements\n\n\nStatements included in this press release which are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements ...