Mid Penn Bancorp · NASDAQ:MPB

Mid Penn Bancorp — Investor Presentation (August 2023)

21 slides from Mid Penn Bancorp's investor presentation, Aug 8, 2023

  1. Slide 1: Mid Penn Bancorp, Inc. Investor Presentation August 2023

    1 DRAFT 04.07.2021 MID PENN BANCORP, INC. Investor Presentation August 2023

  2. Slide 2: Cautionary Notice Regarding Forward-Looking Statements

    2 Cautionary Notice Regarding Forward-Looking Statements This presentation and management’s related discussion regarding Mid Penn Bancorp, Inc. (“Mid Penn”) contains estimates, predictions, opinions, projections and other “forward-looking statements” as that phrase is defined in the Private Securiti

  3. Slide 3: Mid Penn Bancorp, Inc. Overview at June 30, 2023

    3 Mid Penn Bancorp, Inc. Overview at June 30, 2023 Source: S&P Global Market Intelligence, Company Documents. Note: Financial information as of or for the quarter ended June 30, 2023. (1) Non-GAAP financial metric. Please see Appendix for GAAP to non-GAAP reconciliation. (2) Annualized financial met

  4. Slide 4: Pennsylvania Bank Rankings by Assets and Deposit Market Share

    4 Rank Institution Name Branches (#) Total Assets ($M)3 1 S&T Bancorp Inc. (PA) 70 9,253 2 Univest Financial Corp. (PA) 45 7,600 3 Republic First Bancorp Inc. (PA) 14 6,157 4 CNB Financial Corp. (PA) 26 5,664 5 Firstrust SB (PA) 16 5,170 6 Mid Penn Bancorp Inc. (PA) 43 5,094 7 Peoples Financial Serv

  5. Slide 5: Recently Closed Acquisition of Brunswick Bancorp

    5 Recently Closed Acquisition of Brunswick Bancorp Source: S&P Global Market Intelligence; Company Documents. FDIC deposit data as of 6/30/2022. Note: Transaction data as of deal close date. Significant Opportunity to Grow Brunswick BranchesAcquisition Update $392MM Total Assets $283MM Core Deposits

  6. Slide 6: Capitalizing on Market Disruption

    6 Source: S&P Global Market Intelligence, FDIC. Note: FDIC deposit data as of 6/30/2022. (1) Central New Jersey defined as Monmouth, Mercer, Middlesex, Hunterdon and Somerset counties. (2) South New Jersey defined as Burlington, Gloucester, Ocean and Camden counties. (3) Philly Counties defined as M

  7. Slide 7: Balance Sheet and Income Statement Highlights

    7 Balance Sheet • Organic loan growth of $98.3 million, or 11% annualized, during the three months ended June 30, 2023 from the first quarter • Total deposits increased by 11% since March 2023 primarily due to the completion of the Brunswick Bancorp acquisition • Total accumulated other comprehensiv

  8. Slide 8: Demonstrated Ability to Drive Balance Sheet Growth

    8 $910 $1,624 $1,763 $1,996 $2,993 $3,512 $4,033 2017 2018 2019 2020 2021 2022 2023Q2 $910 $1,624 $1,763 $2,384 $3,104 $3,514 $4,035 2017 2018 2019 2020 2021 2022 2023Q2 $1,024 $1,726 $1,912 $2,475 $4,002 $3,778 $4,287 2017 2018 2019 2020 2021 2022 2023Q2 $1,170 $2,078 $2,231 $2,999 $4,689 $4,498 $5

  9. Slide 9: Well-Positioned to Grow in a Challenging Environment

    9 0.01% 0.03% MPB Peer Median 9.2% (17.7%) MPB Peer Median 3.29% 3.21% MPB Peer Median Well-Positioned to Grow in a Challenging Environment LTM Loan Growth (ex. PPP)(1) 27.0% 13.5% MPB Peer Median Source: S&P Global Market Intelligence, Company Documents. Note: Financial data as of or for the quarte

  10. Slide 10: Loan Portfolio Overview

    10 ($000s) June 30, 2023 Loan Type Balance % Total CRE Owner Occupied $590,339 14.6% CRE Non-Owner Occupied 1,109,961 27.5% Construction & Land 519,413 12.9% Residential Mortgage 651,331 16.1% Home Equity 92,912 2.3% Multifamily 241,710 6.0% C & I 553,639 13.7% Consumer & Other 282,629 7.0% Total $4

  11. Slide 11: Deeper Dive into the Office CRE Portfolio

    11 Deeper Dive into the Office CRE Portfolio Office Portfolio by County Office Loan-to-Value (LTV) Source: Company Documents. • $238 million portfolio, which is 6% of total loans • Highly diversified by geography with minimal exposure to downtown metro areas • Weighted average LTV of 59.6% • Weighte

  12. Slide 12: Mid Penn Investment Highlights

    12 Mid Penn Investment Highlights Experienced management team focused on driving franchise value History of consistent earnings, dividend and book value growth Strong asset quality results over the last 8 years resulting from an exceptional risk management culture Clearly identified strategic initia

  13. Slide 13: Long History of Enhancing Shareholder Value

    13 136% 125% 0% 20% 40% 60% 80% 100% 120% 140% 160% 180% MPB National Peers 622% 204% 0% 100% 200% 300% 400% 500% 600% 700% MPB National Peers Long History of Enhancing Shareholder Value Compound Tangible Book Value per Share + Dividends (Non-GAAP) Growth Source: S&P Global Market Intelligence. Note

  14. Slide 14: Return to Shareholders Since 2016

    14 2016 2017 2018 2019 2020 2021 2022 Aug'23 MidPenn Bancorp, Inc. 54% 120% 55% 100% 58% 136% 129% 85% Proxy Peer Group(1) 49% 47% 35% 61% 18% 74% 64% 41% KRX Index 45% 46% 26% 56% 24% 69% 61% 44% Return to Shareholders Since 2016 Total Return Performance Source: S&P Global Market Intelligence. Note

  15. Slide 15: Appendix

    MID PENN BANCORP. Appendix

  16. Slide 16: Management Biographies

    16 HEATHER R. HALL Market President, EVP Ms. Heather R. Hall, Executive Vice President and Market President, joined Mid Penn Bank in 2016 in the commercial banking group. With over 20 years of experience in the finance and banking industries, Ms. Hall provides leadership and oversight of the Bank’s

  17. Slide 17: Management Biographies

    17 RAY M. MINCARELLI, JR. President of Commercial Real Estate, EVP Mr. Ray M. Mincarelli, Jr., Executive Vice President and President of Commercial Real Estate, has over 50 years of commercial banking experience. Mr. Mincarelli has been in the specialized lending area of Real Estate Finance througho

  18. Slide 18: Franchise Snapshot: Corporate Structure

    18 Franchise Snapshot: Corporate Structure Source: Company Documents. (1) MPB Management is a future potential business line currently in planning stages. Mid Penn Bancorp, Inc. Mid Penn Bank ✓ Consumer Banking ✓ Commercial Banking ✓ Trust and Wealth Management Services ✓ Retail Brokerage ✓ Private

  19. Slide 19: Non-GAAP Reconciliation

    19 Non-GAAP Reconciliation ($000s) As of December 31, As of June 30, 2017 2018 2019 2020 2021 2022 2023 Total Common Equity $75,703 $223,209 $237,874 $255,688 $490,076 $512,099 $530,962 Goodwill 3,918 62,840 62,840 62,840 113,835 114,231 129,403 Other Intangibles 434 7,221 5,758 4,360 9,436 7,260 7,

  20. Slide 20: Non-GAAP Reconciliation

    20 Non-GAAP Reconciliation ($000s) 2022Q2 2022Q3 2022Q4 2023Q1 2023Q2 Net Income Available to Common Shareholders $12,252 $15,481 $15,719 $11,227 $4,836 Plus: Merger and Acquisition Expenses -- -- 294 224 7,944 Less: Tax Effect of Merger and Acquisition Expenses -- -- 62 47 1,668 Net Income Excludin

  21. Slide 21: Non-GAAP Reconciliation

    21 Non-GAAP Reconciliation ($000s) 2022Q2 2022Q3 2022Q4 2023Q1 2023Q2 Net Income Available to Common Shareholders $12,252 $15,481 $15,719 $11,227 $4,836 Plus: Merger and Acquisition Expenses -- -- 294 224 7,944 Less: Tax Effect of Merger and Acquisition Expenses -- -- 62 47 1,668 Net Income Excludin

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