Mid Penn Bancorp · NASDAQ:MPB
Mid Penn Bancorp — Shareholder Meeting (May 2025)
25 slides from Mid Penn Bancorp's shareholder meeting presentation, May 13, 2025
Slide 1: Annual Meeting of Shareholders May 13, 2025
1 DRAFT 04.07.2021 MID PENN BANCORP, INC. Annual Meeting of Shareholders May 13, 2025
Slide 2: Introduction of Board Members
2 Source: Company Documents. Introduction of Board Members Rory G. Ritrievi Chair, President & CEO Mid Penn Bancorp, Inc. and Mid Penn Bank
Slide 3: Board Members
3 Source: Company Documents. Robert A. Abel Board Member of Mid Penn Bancorp, Inc. Principal Brown Plus Kimberly J. Brumbaugh Board Member of Mid Penn Bancorp, Inc. Founder and Managing Partner Brumbaugh Wealth Management, LLC Matthew G. DeSoto Board Member of Mid Penn Bancorp, Inc. President and CE
Slide 4: Board Members
4 Source: Company Documents. Albert J. Evans Board Member of Mid Penn Bancorp, Inc. President Fanelli, Evans & Patel, P.C. Maureen M. Gathagan Board Member of Mid Penn Bancorp, Inc. Partner, Bittersweet Management, LLC and Member, Gathagan Investment Company, LP Joel L. Frank Board Member of Mid Pen
Slide 5: Board Members
5 Source: Company Documents. Bruce A. Kiefer Board Member of Mid Penn Bancorp, Inc. Former Manager/Chemist, The Hershey Company Managing Partner, Lawrence Keister & Co. Theodore W. Mowery Board Member of Mid Penn Bancorp, Inc. Founding Partner Gunn Mowery, LLC William A. Specht, III Board Member of
Slide 6: Formal Business of the Meeting
6 Source: Company Documents. Rory G. Ritrievi Chair, President & CEO Mid Penn Bancorp, Inc. and Mid Penn Bank Formal Business of the Meeting
Slide 7: Formal Business: Election of Class C Directors
7 Formal Business of the Meeting The first item of business to be acted upon by shareholders at this meeting is the election of five Class C Directors to serve for a three (3) year term and/or until their successor is elected and qualified: • Robert A. Abel • Matthew G. DeSoto • Bruce A. Kiefer • Th
Slide 8: Formal Business: Advisory Vote on Executive Compensation
8 Formal Business of the Meeting The second item to be acted upon by shareholders at this meeting is to approve a non- binding advisory vote on executive compensation. The Board unanimously recommends shareholders vote “for” approval of the compensation paid to our named executive officers, as descr
Slide 9: Formal Business: Frequency of Advisory Votes
9 Formal Business of the Meeting The third item to be acted upon by shareholders at this meeting is a non-binding advisory vote on the frequency of future advisory votes on compensation paid to the Corporation’s named executive officers. The Board unanimously recommends shareholders vote for “each y
Slide 10: Formal Business: Ratification of RSM US LLP
10 Formal Business of the Meeting The fourth item to be acted upon by shareholders at this meeting is a proposal to ratify the appointment of RSM US LLP as the Corporation’s independent registered public accounting firm for the year ending December 31, 2025. Although this ratification is not require
Slide 11: Management Presentation
11 Source: Company Documents. Rory G. Ritrievi Chair, President & CEO Mid Penn Bancorp, Inc. and Mid Penn Bank Management Presentation
Slide 12: Cautionary Notice Regarding Forward-Looking Statements
12 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 Securit
Slide 13: Experienced Management Team
13 Experienced Management Team Source: Company Documents. Years in Industry Years at MPB PositionExecutive 3916Chair, President & Chief Executive OfficerRory G. Ritrievi 1916 Sr. EVP / President of Commercial and Consumer Banking & Chief Revenue Officer Scott W. Micklewright 1912Sr. EVP / Chief Fina
Slide 14: Mid Penn Bank Regional Presidents
14 Mid Penn Bank Regional Presidents Source: Company Documents. Years in Industry Years at MPB Position / RegionExecutive 2114Sr. VP / Upper Dauphin RegionNatalie L. Falatek 328Sr. VP / Schuylkill & Luzerne CountiesMark F. Ketch 168Sr. VP / Brunswick RegionKeith C. Rada 416Sr. VP / Berks CountyJosep
Slide 15: Overview at March 31, 2025
15 Mid Penn Bancorp, Inc. Overview at March 31, 2025 Source: S&P Global Market Intelligence, Company Documents. Note: Financial information as of or for the quarter ended March 31, 2025. (1) Non-GAAP financial metric. Please see Appendix for GAAP to non-GAAP reconciliation. (2) Annualized financial
Slide 16: Franchise Snapshot: Corporate Structure
16 Franchise Snapshot: Corporate Structure Source: Company Documents. Mid Penn Bancorp, Inc. Mid Penn Bank Consumer Banking Commercial Banking Trust and Wealth Management Services Retail Brokerage Private Banking with Sports & Entertainment Division Residential Lending MPB Financial Serv
Slide 17: Exceptional Asset Quality and Diversified Commercial Loan Portfolio
17 Multifamily 24% Retail 25% Office 16% Industrial 11% Hospitality 9% Flex 3% Mobile Home Park 1% Healthcare 1% Other Property Types 10% 0.65% 0.98% MPB Peer Median 0.46% 0.39% MPB Peer Median Commercial Real Estate 52% Residential Mortgage 18% Construction 9% Commercial & Industrial 14% Consumer &
Slide 18: Well-Balanced Deposit Franchise with Best-in-Class Growth Rates
18 36% 34% MPB Peer Median (3%) 18% 22% 24% (4%) 11% 10% 12% 2 3 4 5 Rank Institution Name Branches (#) Total Deposits ($M) Deposit Market Share (%) 1 The PNC Finl Svcs Grp (PA) 8 $5,252 28.02 2 Mid Penn Bancorp Inc. (PA) 16 2,209 11.79 3 M&T Bank Corp. (NY) 20 2,020 10.78 4 F.N.B. Corp. (PA) 10 1,9
Slide 19: Capitalizing on Market Disruption
19 $89,810 $116,286 $91,532 $74,855 Philly Counties of Focus Central NJ Counties of Focus Southern NJ Counties of Focus State of PA 4.6% 5.2% 8.9% 2.0% Philly Counties of Focus Central NJ Counties of Focus Southern NJ Counties of Focus State of PA Capitalizing on Market Disruption Sizeable Markets A
Slide 20: Conclusion & Demonstrated Track Record of Outsized Shareholder Value Creation
20 38% 36% 23% 11% MPB Core MPB GAAP Peer Median KRX Median 144% 117% 83% MPB Peer Median KRX Median Conclusion & Demonstrated Track Record of Outsized Shareholder Value Creation Source: S&P Global Market Intelligence. Note: Market data as of May 7, 2025. (1) Shown from May 7, 2015 to May 7, 2025. (
Slide 21: Appendix
MID PENN BANCORP. Appendix
Slide 22: Earnings Per Share and Dividends
22 $0.77 $0.84 $0.80 $0.80 $0.80 $0.80 2020 2021 2022 2023 2024 Q1'25 $3.10 $2.71 $3.44 $2.29 $2.90 $2.84 2020 2021 2022 2023 2024 Q1'25 Earnings Per Share and Dividends Source: S&P Global Market Intelligence, Company Documents. (1) 2025Q1 data is annualized. Earnings Per Share (Diluted) Cash Divide
Slide 23: Non-GAAP Reconciliation
23 Non-GAAP Reconciliation ($000s) 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 Net Income Available to Common Shareholders $12,133 $11,771 $12,301 $13,232 $13,742 Less: BOLI Death Benefit Income 1,460 487 4 615 83 Plus: Merger and Acquisition Expenses 0 0 109 436 314 Less: Tax Effect of Merger and Acquisitio
Slide 24: Non-GAAP Reconciliation
24 Non-GAAP Reconciliation Source: S&P Global Market Intelligence, Company Filings. ($000s) As of December 31, As of March 31, 2018 2019 2020 2021 2022 2023 2024 2025Q1 Total Common Equity $223,209 $237,874 $255,688 $490,076 $512,099 $542,350 $655,018 $667,933 Goodwill 62,840 62,840 62,840 113,835 1
Slide 25: Non-GAAP Reconciliation
25 Non-GAAP Reconciliation ($000s) 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 Net Income Available to Common Shareholders $12,133 $11,771 $12,301 $13,232 $13,742 Plus: Intangible Amortizations, Net of Tax 338 336 363 372 338 $12,471 $12,107 $12,664 $13,604 $14,080 Average Shareholder's Equity $546,001 $553,