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1. Company Snapshot

1.a. Company Description

Mid Penn Bancorp, Inc.operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations.The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs. It also provides a range of loan products comprising mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development loans, loans to non-profit entities, and local government loans.


In addition, the company offers online banking, telephone banking, cash management, and automated teller services, as well as safe deposit boxes; and trust and wealth management services.As of December 31, 2021, it operated sixty full-service retail banking locations in Berks, Blair, Bucks, Centre, Chester, Clearfield, Cumberland, Dauphin, Fayette, Huntingdon, Lancaster, Lehigh, Luzerne, Lycoming, Montgomery, Northumberland, Perry, Schuylkill, and Westmoreland counties, Pennsylvania.The company was founded in 1868 and is headquartered in Harrisburg, Pennsylvania.

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1.b. Last Insights on MPB

Mid Penn Bancorp, Inc.'s recent performance was driven by its strategic expansion through acquisitions. The company announced a definitive agreement to acquire 1st Colonial Bancorp, Inc. in a $101 million cash and stock transaction. This move is expected to enhance Mid Penn's market presence and diversify its revenue streams. The acquisition, valued at approximately 1.4 times 1st Colonial's tangible book value, is anticipated to close later this year, pending regulatory approvals. The deal is expected to be accretive to Mid Penn's earnings.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Mid Penn Bancorp, Inc. to Acquire Cumberland Advisors

Sep -25

Source: businesswire.com

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Mid Penn Bancorp, Inc. Announces Agreement to Acquire 1st Colonial Bancorp, Inc.

Sep -24

Source: businesswire.com

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Mid Penn Bancorp, Inc. and William Penn Bancorporation Receive Shareholder Approvals for Merger

Apr -02

Source: businesswire.com

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Mid Penn Bancorp, Inc. and William Penn Bancorporation Receive Regulatory Approvals for Merger

Mar -28

Source: businesswire.com

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Mid Penn Bancorp (MPB) Lags Q4 Earnings Estimates

Jan -23

Source: zacks.com

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WILLIAM PENN INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of William Penn Bancorporation - WMPN

Nov -06

Source: businesswire.com

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Mid Penn Bancorp, Inc. Announces Closing of Public Offering of Common Stock

Nov -04

Source: businesswire.com

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MPB Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Mid Penn Bancorp, Inc. Is Fair to Shareholders

Nov -01

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.00%)

6. Segments

Commercial Banking and Trust

Expected Growth: 5%

Mid Penn Bancorp's Commercial Banking and Trust segment growth is driven by strategic acquisitions, expanding commercial loan portfolio, and increasing deposit base. Strong relationships with local businesses, competitive pricing, and improved operational efficiency also contribute to the 5% growth. Additionally, the segment benefits from a favorable interest rate environment and a growing demand for trust services.

7. Detailed Products

Commercial Loans

Mid Penn Bancorp, Inc. offers a range of commercial loans to businesses, including term loans, lines of credit, and construction loans, to support their growth and expansion plans.

Consumer Loans

The company offers various consumer loan products, including personal loans, home equity loans, and mortgages, to help individuals achieve their personal financial goals.

Deposit Accounts

Mid Penn Bancorp, Inc. offers a range of deposit accounts, including checking, savings, and certificates of deposit, to help individuals and businesses manage their finances.

Treasury Management Services

The company offers treasury management services, including cash management, wire transfers, and ACH services, to help businesses manage their cash flow and optimize their financial operations.

Wealth Management Services

Mid Penn Bancorp, Inc. offers wealth management services, including investment management, trust services, and retirement planning, to help individuals and businesses achieve their long-term financial goals.

8. Mid Penn Bancorp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Mid Penn Bancorp, Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the complexity of banking services and the need for regulatory compliance.

Bargaining Power Of Customers

Mid Penn Bancorp, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products and services are not highly commoditized.

Bargaining Power Of Suppliers

Mid Penn Bancorp, Inc. is not heavily dependent on a single supplier, and the company's suppliers do not have significant bargaining power.

Threat Of New Entrants

The banking industry has significant barriers to entry, including regulatory hurdles and capital requirements, which reduces the threat of new entrants.

Intensity Of Rivalry

Mid Penn Bancorp, Inc. operates in a highly competitive industry, with many established players and a high level of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 38.97%
Debt Cost 6.75%
Equity Weight 61.03%
Equity Cost 6.75%
WACC 6.75%
Leverage 63.87%

11. Quality Control: Mid Penn Bancorp, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
EFSC

A-Score: 6.5/10

Value: 6.5

Growth: 7.2

Quality: 6.9

Yield: 4.0

Momentum: 7.0

Volatility: 7.7

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A-Score: 6.3/10

Value: 6.4

Growth: 5.6

Quality: 7.2

Yield: 7.0

Momentum: 5.0

Volatility: 6.7

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Pacific Premier Bancorp

A-Score: 5.9/10

Value: 5.5

Growth: 3.7

Quality: 7.4

Yield: 8.0

Momentum: 4.0

Volatility: 6.7

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Mid Penn Bancorp

A-Score: 5.8/10

Value: 6.4

Growth: 3.8

Quality: 6.8

Yield: 6.0

Momentum: 4.0

Volatility: 7.7

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Sandy Spring Bancorp

A-Score: 4.7/10

Value: 5.3

Growth: 3.3

Quality: 5.2

Yield: 6.0

Momentum: 3.0

Volatility: 5.7

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HMN Financial

A-Score: 3.9/10

Value: 3.9

Growth: 2.8

Quality: 7.5

Yield: 1.0

Momentum: 5.0

Volatility: 3.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

29.8$

Current Price

29.8$

Potential

-0.00%

Expected Cash-Flows