1st Colonial Bancorp jumps on $101 million buyout deal with Mid Penn Bancorp

Mid Penn Bancorp

25/09/2025 18:54

** Shares of community lender 1st Colonial Bancorp FCOB.PK jump 7.5% to $18.55

** U.S. bank Mid Penn Bancorp MPB.O will buy FCOB in a $101 million cash-and-stock deal, the companies announced late Wednesday

** Under the deal, 60% of FCOB shares will be converted into MPB stock while the remaining will be exchanged for cash

     ** FCOB shareholders can opt to receive 0.6945 share of MPB for each stock held or $18.50 in cash for each share of 1st Colonial they own, subject to the 60/40 consideration mix

** Deal values FCOB at $20.03 apiece representing a 16% premium to the last close

** As of last close, FCOB stock up 15.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))