Mid Penn Bancorp · NASDAQ:MPB
Mid Penn Bancorp — Shareholder Meeting (May 2018)
23 slides from Mid Penn Bancorp's shareholder meeting presentation, May 9, 2018
Slide 1: Annual Meeting of Shareholders May 8, 2018
A NNUAL M EETING OF S HAREHOLDERS May 8 , 2018
Slide 2: Robert C. Grubic, Chairman of the Board
R OBERT C. G RUBIC Chairman of the Board 2
Slide 3: Rory G. Ritrievi, President & CEO
R ORY G. R ITRIEVI President & CEO 3
Slide 4: Forward-looking statements
This presentation and management’s related discussion 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's confidence and strategies and m
Slide 5: Forward-looking statements (continued)
(Cont . ) rapid technological developments and changes ; the ability to continue to introduce competitive new products and services on a timely, cost - effective basis ; the mix of products/services ; containing costs and expenses ; governmental and public policy changes ; protection and validity of
Slide 6: Non-GAAP financial information notice
This presentation contains financial information 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 accordance with GAAP is our book value . We believe t
Slide 7: Experienced Leadership
Experienced Leadership Executive Position Years at MPB Years in Industry Rory G. Ritrievi President & Chief Executive Officer 9 31 Scott W. Micklewright EVP & Chief Lending Officer 9 12 Kelly K. Neiderer EVP & Chief Retail Officer 5 28 Joseph L. Paese, CFP EVP & Director of Trust & Wealth Management
Slide 8: Experienced Leadership
Experienced Leadership Executive Position Years at MPB Years in Industry Joan E. Dickinson Regional President 5 32 Heather R. Hall Regional President 2 18 Alex J. Kauffman Regional President 6 6 Mark F. Ketch Regional President 2 25 Averages: 10 24 8
Slide 9: Profile of Mid Penn Bancorp
As of March 31, 2018 (000s): Total Assets: $ 1,391,217 Total Loans: $ 1,007,138 Total Deposits: $ 1,212,423 Mid Penn Bancorp, Inc., headquartered in upper Dauphin County, PA, has 29 branch offices across eight Pennsylvania counties. With our acquisition of The Scottdale Bank & Trust Company on Jan.
Slide 10: Celebrating A Special Year!
Celebrating A Special Year! 10
Slide 11: Industry Recognition
» In 2017, Mid Penn Bank was named one of the “Top 200 Community Banks” for the 5 th consecutive year, and » W e were honored to be recognized as one of the “Best Banks to Work For” by American Banker. » Recipient of the “Grow Your Community Award” from the Pennsylvania Association of Community Bank
Slide 12: Increasing Shareholder Value
» 5 - Year Return: $100 invested in MPB Stock as of Dec. 31, 2012 and held for the full five years through Dec. 31, 2017 returned over 240% Increasing Shareholder Value 12 $100.00 $200.00 $300.00 $400.00 Dec. 31, 2012 Dec. 31, 2013 Dec. 31, 2014 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Mid Penn Ban
Slide 13: Dividends and Shareholder Return
» Total Return to Shareholders in 2017 was $9.89 or 42% per common share. ▪ Common stock price appreciation of $9.27 per share (from a closing price of $23.83 on Dec. 31, 2016, to a closing price of $33.10 on Dec. 31, 2017) ▪ Cash dividends paid of $0.62 per common share Dividends and Shareholder Re
Slide 14: Increasing Shareholder Value: Tangible Book Value Per Share
Increasing Shareholder Value 14 $15.13 $15.49 $15.59 $16.82 $18.21 Dec. 31, 2014 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Mar. 31, 2018 Tangible Book Value Per Common Share Includes the impact of both Q1 earnings and the Scottdale acquisition. (a) (a) (b) (b) Tangible Book Value per Common Share is
Slide 15: Earnings Results: Net Income
$4,616 $5,351 $6,038 $7,804 $7,089 $8,857 Year Ended Dec. 31, 2013 Year Ended Dec. 31, 2014 Year Ended Dec. 31, 2015 Year Ended Dec. 31, 2016 Year Ended Dec. 31, 2017 Year Ended Dec. 31, 2017 (Adjusted) Net Income Available to Common Shareholders (Dollars in 000s) Earnings Results 15 Adjusted 2017 e
Slide 16: Earnings Results: EPS
$1.32 $1.53 $1.47 $1.85 $1.67 $2.09 Year Ended Dec. 31, 2013 Year Ended Dec. 31, 2014 Year Ended Dec. 31, 2015 Year Ended Dec. 31, 2016 Year Ended Dec. 31, 2017 Year Ended Dec. 31, 2017 (Adjusted) Earnings Per Common Share (EPS) - Fully Diluted Earnings Results 16 Adjusted 2017 earnings per common s
Slide 17: Strong Loan & Deposit Growth
» T otal loans increased by $95 million or nearly 12% during 2017, and the compound annual growth rate (CAGR) of loans from 2015 to 2017 was 11%. » T otal deposits increased by $89 million or over 9 % during 2017, and the CAGR of deposits from 2015 to 2017 was 15%. Strong Loan & Deposit Growth 17 De
Slide 18: Net Interest Margin
Net Interest Margin 18 3.80% 3.99% 4.03% 3.82% 3.68% 2013 2014 2015 2016 2017 Net Interest Margin Year Ended Dec. 31 » The yield earned on loans during 2017 was 4.73%, which was comparable to the yield on loans of 4.78% for 2016. » Despite three Fed rate increases in 2017 totaling 0.75%, the cost of
Slide 19: Franchise Expansion: Scottdale acquisition
» On January 8, 2018, Mid Penn announced the successful completion of the legal acquisition of The Scottdale Bank & Trust Company. Mid Penn acquired $70,686,000 in loans, $114,039,000 of investments, and assumed $209,981,000 of deposits from Scottdale. Mid Penn also recorded goodwill of $18,610,000
Slide 20: Franchise Expansion: Total Assets
» Through 2017 and into the 1 st Quarter of 2018, when Mid Penn closed its acquisition of The Scottdale Bank & Trust Company, Mid Penn’s total assets grew to just under $1.4 Billion. Franchise Expansion 20 Dec. 31, 2014 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Mar. 31, 2018 $756 $932 $1,033 $1,170
Slide 21: Franchise Expansion: First Priority merger
» On January 16, 2018, Mid Penn entered into an Agreement and Plan of Merger with First Priority Financial Corp. pursuant to which First Priority will merge with and into Mid Penn (Mid Penn being the surviving corporation). The acquisition will expand Mid Penn’s footprint into Chester , Berks, Montg
Slide 22: Thanks to All Our Shareholders!
Thanks to All Our Shareholders! 22
Slide 23: Appendix: Reconciliation of GAAP to Non-GAAP Measures
23 Appendix : Reconciliation of GAAP to Non - GAAP Measures Tangible Book Value per Common Share March 31, December 31, December 31, December 31, December 31, (Dollars in thousands, except per share data) 2018 2017 2016 2015 2014 Common Shareholder's Equity (GAAP) 139,124$ 75,703$ 70,467$ 70,068$ 54