Mid Penn Bancorp (MPB) Q2 2025 earnings summary

Executive summary

• Completed the William Penn acquisition, adding $757.3M in assets and $431.4M in loans, and Charis Insurance Group for $4M, expanding presence in PA and NJ.

• Net income for Q2 2025 was $4.8M ($0.22 per share), down from $11.8M ($0.71 per share) in Q2 2024, due to merger-related and non-recurring expenses; adjusted net income was $15.1M ($0.70 per share), exceeding estimates.

• Total assets grew to $6.4B, up 16.2% from year-end 2024, driven by loan and deposit growth from acquisitions.

• Declared 59th consecutive quarterly dividend of $0.20 per share, payable August 25, 2025.

Financial highlights

• Net interest income for Q2 2025 was $48.2M, up from $38.8M in Q2 2024; YTD net interest income was $90.7M, up from $75.2M YTD 2024.

• Net interest margin improved to 3.44% in Q2 2025 from 3.12% in Q2 2024; YTD margin was 3.41% vs. 3.04% prior year.

• Noninterest income for Q2 2025 was $6.1M, up 15.3% year-over-year and 17.3% sequentially, driven by wealth management and insurance income.

• Noninterest expense rose to $47.8M in Q2 2025 (up 69.4% YoY), with $11.0M in merger and acquisition costs.

• Total loans at June 30, 2025 were $4.8B, up 8.8% from year-end 2024; total deposits were $5.4B, up 16.2%.

Outlook and guidance

• Management expects to reach the lower end of original loan growth targets and the midpoint of deposit growth targets by year-end, with focus on integration benefits from recent acquisitions.

• Liquidity remains strong, with $1.6B in borrowing capacity, representing 99.4% of uninsured and uncollateralized deposits.

• No material changes to critical accounting estimates or risk management practices anticipated.

• Cautious optimism for the remainder of 2025, citing improved loan pipelines.