Mid Penn Bancorp · NASDAQ:MPB
Mid Penn Bancorp — KBW's Community Bank Investor Conference 2019
20 slides from Mid Penn Bancorp's conference presentation, Jul 31, 2019
Slide 1: Investor Presentation – KBW's Community Bank Investor Conference
Nasdaq: MPB Investor Presentation KBW’s Community Bank Investor Conference July 31, 2019 Exhibit 99.1
Slide 2: Presenters
Rory G. Ritrievi President & CEO Michael D. Peduzzi Sr. Executive President & Chief Financial Officer Justin T. Webb Sr. Executive President & Chief Operating Officer Nasdaq: MPB
Slide 3: Forward-Looking Statements
This presentation and management’s related discussion on Mid Penn Bancorp, Inc. (“Mid Penn”) may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and include expressions about management
Slide 4: Non-GAAP Financial Measures
This presentation or related management discussion may contain financial information or measures determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). For tangible book value, the most directly comparable financial measure calculated in accordanc
Slide 5: Profile of Mid Penn Bancorp, Inc.
As of June 30, 2019 (000s): Total Assets: $ 2,136,122 Total Loans: $ 1,688,173 Total Deposits: $ 1,778,401 The Company employs over 400 personnel and generated annual revenues in 2018 of over $63 million. Mid Penn Bancorp, Inc., headquartered in Millersburg, Pa., has been serving communities in Penn
Slide 6: Experienced Leadership
Executive Position Years at MPB Years in Industry Rory G. Ritrievi President & Chief Executive Officer 10 32 Michael D. Peduzzi, CPA Sr. EVP & Chief Financial Officer 4 20 Justin T. Webb Sr. EVP & Chief Operating Officer 6 13 Scott W. Micklewright Sr. EVP & Chief Revenue Officer 10 13 Joseph L. Paes
Slide 7: Experienced Leadership – Regional Presidents
Executive Position Years at MPB Years in Industry Heather Hall Market President – Capital and Lancaster Regions 3 20 Joseph Butto Regional President – Berks Region 1 34 Mark Ketch Regional President – Northern Region 3 25 Daniel Krewson Regional President – Delaware Valley Region 1 16 Tara Sheaffer
Slide 8: Increasing Shareholder Value
Increasing Shareholder Value Tangible Book Value per Common Share is a Non-GAAP measure as it excludes goodwill and core deposit intangible. See the reconciliation of GAAP to non-GAAP measures in the Appendix to this presentation Nasdaq: MPB (a)
Slide 9: Strong Shareholder Returns
5-Year Return: $100 invested in Mid Penn Bancorp (symbol: MPB) stock as of Dec. 31, 2013 and held for five years through Dec. 31, 2018 returned over 84%. Strong Shareholder Returns Comparatively, stocks in the Russell 3000 Index averaged a lower 5-year return of 46% through Dec. 31, 2018 (Mid Penn w
Slide 10: Increasing Dividends
Increasing Dividends Regular quarterly dividend payouts have increased consistently in recent years as follows (reflects regular dividends paid during each year’s respective quarter): 2016: $0.12 per quarter; $0.48 for the year 2017: $0.13 per quarter; $0.52 for the year 2018: $0.15 per quarter; $0.
Slide 11: Earnings Results
Earnings Results The amount shown reflects non-GAAP adjusted earnings for 2017, which excluded the after-tax impact of (i) $619,000 of merger-related expenses, and (ii) a one-time deferred tax asset charge of $1,169,000. Full Year 2017 GAAP net income was $8,857,000. See the reconciliation of GAAP t
Slide 12: Earnings Results – Earnings Per Share
Earnings Results 2017 adjusted earnings per share reflect the exclusion of the after-tax impact of $619,000 of merger-related expenses and a one-time deferred tax asset charge of $1,169,000. Including these charges, 2017 GAAP earnings per share was $1.67. See the reconciliation of GAAP to non-GAAP m
Slide 13: Franchise Growth
* The CAGR or Compound Annual Growth Rate includes the impact of both organic growth and acquisitions. During 2018, Mid Penn successfully closed and integrated the acquisitions of The Scottdale Bank & Trust Co. (Jan. 2018) and First Priority Financial Corp. (July 2018). Total assets have grown $58 m
Slide 14: Strong Loan & Deposit Growth
Total loans increased $715 million during 2018, with organic growth of $172 million or 18%. The additional increase ($543 million) reflects loans acquired from First Priority and Scottdale. Loan growth for the first six months of 2019 was $64 million or an 8% annualized growth rate. Total deposits i
Slide 15: Net Interest Margin
Net Interest Margin The Net Interest Margin for the first half of 2019 was 3.69%, with the yield on loans for the first six months of 2019 increasing to 5.32%. Increases in the yields on loans, investments, and other interest-earning assets more than offset the impact of the increase in cost of fund
Slide 16: Summary of Results and Financial Position for Six Months Ending June 30, 2019
Summary of Results and Financial Position for the Six Months Ending June 30, 2019 Nasdaq: MPB
Slide 17: Summary of Results and Financial Position for Six Months Ending June 30, 2019
Nasdaq: MPB Summary of Results and Financial Position for the Six Months Ending June 30, 2019
Slide 18: Opportunities
Opportunities Commercial loan portfolio growth and development with a continued emphasis on asset quality and portfolio diversification, and benefiting from both sustained momentum in legacy markets, and new relationships in markets added through recent acquisitions. Maintaining a sound deposit fund
Slide 19: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Nasdaq: MPB (Dollars in thousands, except per share data) June 30, Dec. 31, Dec. 31, Dec. 31, 2019 2018 2017 2016 Shareholder's Equity $ 231,262 $ 223,209 $ 75,703 $ 70,467 Less: Goodwill 62,840 62,840 3,918 3,918 Less: Core Deposit and Other Int
Slide 20: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Nasdaq: MPB
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