Mid Penn Bancorp · NASDAQ:MPB
Mid Penn Bancorp — Investor Presentation (February 2025)
21 slides from Mid Penn Bancorp's investor presentation, Feb 25, 2025
Slide 1: Mid Penn Bancorp, Inc. Investor Presentation February 2025
1 DRAFT 04.07.2021 MID PENN BANCORP, INC. Investor Presentation February 2025
Slide 2: Important Additional Information and Where to Find It
2 Important Additional Information and Where to Find It This presentation is solely for informational purposes and has been prepared to assist interested parties in making their own evaluation of Mid Penn Bancorp, Inc. (the Company or “Mid Penn”) and does not purport to contain all of the informatio
Slide 3: Market and Industry Data
3 Market and Industry Data Unless otherwise indicated, market data and certain industry forecast data used in this presentation were obtained from third party sources and other publicly available information. While the Company believes these sources to be reliable as of the date of this presentation
Slide 4: Experienced Management Team
4 Experienced Management Team Source: Company Documents. Years in Industry Years at MPB PositionExecutive 3816Chair, President & Chief Executive OfficerRory G. Ritrievi 1815 Sr. EVP / President of Commercial and Consumer Banking & Chief Revenue Officer Scott W. Micklewright 1812Sr. EVP / Chief Finan
Slide 5: Mid Penn Bank Regional Presidents
5 Mid Penn Bank Regional Presidents Source: Company Documents. Years in Industry Years at MPB Position / RegionExecutive 2013Sr. VP / Upper Dauphin CountyNatalie L. Falatek 317Sr. VP / Schuylkill & Luzerne CountiesMark F. Ketch 157Sr. VP / Brunswick RegionKeith C. Rada 405Sr. VP / Berks CountyJoseph
Slide 6: I. Company Overview & 2024 Q4 Update
6 I. Company Overview & 2024 Q4 Update
Slide 7: Mid Penn Bancorp, Inc. Overview at December 31, 2024
7 Mid Penn Bancorp, Inc. Overview at December 31, 2024 Source: S&P Global Market Intelligence, Company Documents. Note: Financial information as of or for the quarter ended December 31, 2024. (1) Non-GAAP financial metric. Please see Appendix for GAAP to non-GAAP reconciliation. (2) Annualized finan
Slide 8: Momentum & Growth Across the Board
8 0.77% 0.91% 2023Y 2024Y $4.3 $4.7 2023Q4 2024Q4 $4.3 $4.4 2023Q4 2024Q4 Source: S&P Global Market Intelligence, Company Documents. Note: Financial information as of or for the quarter ended December 31, 2024. Momentum & Growth Across the Board Total Gross Loans ($B) Total Deposits ($B) 3.05% 3.23%
Slide 9: Compelling Investment Thesis
9 Compelling Investment Thesis Demonstrated track record of outsized shareholder value creation Successful whole-bank acquiror Exceptional asset quality and nicely diversified & granular commercial loan portfolio Strong profitability ratios, in-line or better than national peers Well-balanced deposi
Slide 10: Exceptional Asset Quality and Nicely Diversified & Granular Commercial Loan Portfolio
10 Multifamily 26% Retail 26% Office 18% Industrial 9% Hospitality 9% Flex 3% Mobile Home Park 1% Healthcare 1% Other Property Types 7% Cumulative NCOs / Avg. Loans(3) $4.4 billion gross loan portfolio Commercial Real Estate 51% Residential Mortgage 18% Construction 10% Commercial & Industrial 14% C
Slide 11: II. William Penn Transaction Overview
11 II. William Penn Transaction Overview
Slide 12: Overview of the Transactions
12 Noninterest- bearing Deposits 9% IB Checking 21% Money Market 27% Savings 13% Time Deposits 30% Overview of the Transactions Source: Company Documents. Note: Standalone data as of December 31, 2024. (1) Based on MPB’s closing stock price of $31.88 as of 10/30/2024, WMPN common shares outstanding
Slide 13: Methodical & Successful Expansion into Southeastern PA and Central New Jersey
13 $47 $136 2019 2024 Methodical & Successful Expansion into Southeastern PA and Central New Jersey Source: S&P Global Market Intelligence, FDIC. Note FDIC deposit data as of June 30, 2024. Note: Transaction data as of deal announcement date. (1) Pending acquisition; anticipated closing Q2 2025. (2)
Slide 14: Significant Opportunity to Grow in Highly Desirable Greater Philadelphia Metro Area
14 Significant Opportunity to Grow in Highly Desirable Greater Philadelphia Metro Area Source: S&P Global Market Intelligence, FDIC. Note: FDIC deposit data as of June 30, 2024. (1) Last reported assets between $1-$20 billion and with deposits in the Philadelphia MSA since 2014; list is ranked by la
Slide 15: Pro Forma Impact of William Penn
15 Pro Forma Impact of William Penn Source: S&P Global Market Intelligence; FDIC. Note: FDIC deposit data as of 6/30/2024. Market data as of 2/13/2025. 1) Peers are nationwide major-exchange traded banks with most recent quarter total assets between $3-$7B, excluding merger targets and mutuals. 2) C
Slide 16: III. Long-Term Value Creation
16 III. Long-Term Value Creation
Slide 17: Conclusion & Demonstrated Track Record of Outsized Shareholder Value Creation
17 33% 39% 6% 13% MPB Core MPB GAAP Peer Median KRX Median 157% 126% 122% 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 February 13, 2025. (1) Shown from February 13, 2015 to Fe
Slide 18: Appendix
MID PENN BANCORP. Appendix
Slide 19: Non-GAAP Reconciliation
19 Non-GAAP Reconciliation Source: S&P Global Market Intelligence, Company Filings. ($000s) As of December 31, 2018 2019 2020 2021 2022 2023 2024 Total Common Equity $223,209 $237,874 $255,688 $490,076 $512,099 $542,350 $655,018 Goodwill 62,840 62,840 62,840 113,835 114,231 127,031 128,160 Other Int
Slide 20: Non-GAAP Reconciliation
20 Non-GAAP Reconciliation ($000s) 2024Q1 2024Q2 2024Q3 2024Q4 Net Income Available to Common Shareholders $12,133 $11,771 $12,301 $13,232 Less: BOLI Death Benefit Income 1,460 487 4 615 Plus: Merger and Acquisition Expenses 0 0 109 436 Less: Tax Effect of Merger and Acquisition Expenses 0 0 23 92 N
Slide 21: Non-GAAP Reconciliation
21 Non-GAAP Reconciliation ($000s) 2024Q1 2024Q2 2024Q3 2024Q4 Net Income Available to Common Shareholders $12,133 $11,771 $12,301 $13,232 Plus: Intangible Amortizations, Net of Tax 338 336 363 372 $12,471 $12,107 $12,664 $13,604 Average Shareholder's Equity $546,001 $553,675 $565,300 $623,670 Less:
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