Mid Penn Bancorp · NASDAQ:MPB
Mid Penn Bancorp — Investor Presentation (June 2019)
21 slides from Mid Penn Bancorp's investor presentation, Jun 12, 2019
Slide 1: Investor Presentation June 12, 2019
Investor Presentation June 12, 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
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: Forward-Looking Statements (Cont.)
(Cont.) the availability of financial resources in the amounts, at the times, and on the terms required to support Mid Penn and Mid Penn Bank’s future businesses; the impact of Mid Penn’s 2018 acquisitions of First Priority Financial Corp. and The Scottdale Bank and Trust Company, and material diffe
Slide 5: 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 6: Profile of Mid Penn Bancorp, Inc.
As of March 31, 2019 (000s): Total Assets: $ 2,147,817 Total Loans: $ 1,650,736 Total Deposits: $ 1,784,180 The Company employs over 400 personnel and generated annual revenues in 2018 of over $63 million. Mid Penn Bancorp, Inc. (NASDAQ: MPB), headquartered in Millersburg, Pa., has been serving comm
Slide 7: 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 8: 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 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, the stocks in the Russell 3000 Index averaged a lower 5-year return of 46% through Dec. 31, 2018 (Mid Pe
Slide 10: Increasing Shareholder Value
Increasing Shareholder Value (a) 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 The Tangible Book Value per Common Share as of March 31, 2019 incr
Slide 11: 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 12: Franchise Growth CAGR of 28%
* 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). Franchise Growth CAGR * of 28
Slide 13: Strong Loan & Deposit Growth
Total loans increased by $715 million during 2018, with a large portion ($543 million) being the remaining balance of loans acquired from First Priority and Scottdale. Organic loan growth was a strong $172 million or approx. 18% for 2018. Total deposits increased by $702 million during 2018, with a
Slide 14: Earnings Results
Earnings Results (a) 2017 earnings reflect the impact of $619,000 of merger-related expenses and a one-time deferred tax asset charge of $1,169,000. Excluding these charges, adjusted earnings for the year would have been $8,857,000. See the reconciliation of GAAP to non-GAAP measures in the Appendix
Slide 15: Earnings Results (Per Share)
Earnings Results (a) (b) 2017 earnings reflect the impact of $619,000 of merger-related expenses and a one-time deferred tax asset charge of $1,169,000. Excluding these charges, adjusted earnings per share for the year would have been $2.09. See the reconciliation of GAAP to non-GAAP measures in the
Slide 16: Net Interest Margin
Net Interest Margin The yield earned on loans during 2018 was 4.98%, which increased compared to the yield on loans of 4.73% in 2017 and 4.78% for 2016. The cost of funds was impacted by four Fed rate increases in 2018 totaling 1.00%, and three Fed rate increases in 2017 totaling 0.75%. The cost of
Slide 17: Summary of Results and Financial Position for the Quarter Ending March 31, 2019
Summary of Results and Financial Position for the Quarter Ending March 31, 2019
Slide 18: Summary of Results and Financial Position for the Quarter Ending March 31, 2019
Summary of Results and Financial Position for the Quarter Ending March 31, 2019
Slide 19: 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 20: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures
Slide 21: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures