Mid Penn Bancorp Q1 net income falls on merger costs

Mid Penn Bancorp

22/04/2026 24:13

Overview

U.S. regional bank's Q1 net income fell yr/yr due to merger-related expenses

Company increased share repurchase authorization by $50 mln and declared a quarterly dividend

Outlook

Company is cautiously optimistic about loan and deposit pipelines amid macroeconomic uncertainty

Mid Penn expects to realize cost synergies from recent acquisitions over coming quarters

Company sees strong noninterest income growth driven by Cumberland Advisors acquisition

Result Drivers

MERGER-RELATED EXPENSES - Co said net income declined yr/yr due to one-time costs from 1st Colonial and Cumberland Advisors acquisitions

NONINTEREST INCOME GROWTH - Increase in noninterest income was mainly due to fiduciary and wealth management fees from Cumberland Advisors acquisition

NET INTEREST MARGIN EXPANSION - Net interest margin rose to 3.80% from 3.37% a year ago, helped by higher loan and securities yields and lower cost of funds

Company press release: ID:nBwCcBMma

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted Net Income
Miss
$15.30 mln
$15.70 mln (2 Analysts)
Q1 Net Income
$8.70 mln
Q1 Net Interest Income
$55.30 mln
Q1 Dividend
$0.22
Q1 Net Interest Margin
3.80%


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Mid Penn Bancorp Inc is $36.50, about 9.2% above its April 21 closing price of $33.43

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)