0001171843-11-001134.txt : 20110427 0001171843-11-001134.hdr.sgml : 20110427 20110427150122 ACCESSION NUMBER: 0001171843-11-001134 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110427 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110427 DATE AS OF CHANGE: 20110427 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MID PENN BANCORP INC CENTRAL INDEX KEY: 0000879635 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 251666413 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13677 FILM NUMBER: 11783271 BUSINESS ADDRESS: STREET 1: 349 UNION ST CITY: MILLERSBURG STATE: PA ZIP: 17061 BUSINESS PHONE: 7176922133 MAIL ADDRESS: STREET 1: 349 UNION STREET STREET 2: 349 UNION STREET CITY: MILLERSBURG STATE: PA ZIP: 17061 8-K 1 document.htm FORM 8-K FILING DOCUMENT Form 8-K Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 27, 2011

MID PENN BANCORP, INC.
(Exact name of registrant as specified in its charter)

Pennsylvania   001-13677   25-1666413
(State or other jurisdiction
of incorporation) 		  (Commission File Number)   (IRS Employer Identification No.)


  349 Union Street, Millersburg, Pennsylvania   17061  
  (Address of principal executive offices)   (Zip Code)  

717-692-2133
(Registrant's telephone number, including area code)



________________________________________________________________________________



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
  [   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

MID PENN BANCORP, INC.
CURRENT REPORT ON FORM 8-K

Item 2.02. Results of Operations and Financial Condition.

On April 27, 2011, Mid Penn Bancorp, Inc. ("Corporation") issued a press release discussing its financial results for the first quarter of 2011. Attached hereto as Exhibit 99.1 is a copy of the Corporation's press release dated April 27, 2011.

In accordance with General Instruction B.2 of Form 8-K, the information included in this Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such a filing.

Item 8.01. Other Events.

On April 27, 2011, the Registrant declared a quarterly cash dividend of $0.05 per common share payable May 23, 2011 to shareholders of record May 11, 2011.

Item 9.01. Financial Statements and Exhibits.

(d)      Exhibits.

Exhibit Number
Description
99.1
 Press Release dated April 27, 2011

SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

    MID PENN BANCORP, INC.
(Registrant)
Dated:April 27, 2011
   /s/ RORY G. RITRIEVI
Rory G. Ritrievi
President and Chief Executive Officer



EX-99.1 2 newsrelease.htm PRESS RELEASE Mid Penn Bancorp, Inc. Reports First Quarter Earnings and Declares Dividend

EXHIBIT 99.1

Mid Penn Bancorp, Inc. Reports First Quarter Earnings and Declares Dividend

MILLERSBURG, Pa., April 27, 2011 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. ("Mid Penn") (Nasdaq:MPB), the parent company of Mid Penn Bank, today reported net income available to common shareholders for the quarter ended March 31, 2011 of $872,000, or $0.25 per common share, an increase of 43.7% over the net income available to common shareholders of $607,000, or $0.17 per common share, reported during the same period of 2010. Mid Penn also reported increases of $63,173,000, or 11.8%, in total deposits and $60,037,000, or 9.7%, in total assets for the quarter ended March 31, 2011, over the same period in 2010.

2011 Financial Highlights
(dollars in thousands, except per share data)
         
      Change
  03/31/11 03/31/10  $   % 
         
Total Assets  $ 680,292  $ 620,255  $ 60,037 9.7%
         
Total Loans (net) 465,738 466,661 (923) -0.2%
         
Total Deposits  599,897 536,724 63,173 11.8%
         
         
  Quarter Ended
         
      Change
  03/31/11 03/31/10  $   % 
         
Net Interest Income  $ 4,983  $ 4,501  $ 482 10.7%
         
Provision for Loan and Lease Losses  200  160  40 25.0%
         
Total Revenues  8,211  8,170  41 0.5%
         
Total Noninterest Expense  4,300  4,269  31 0.7%
         
Net Income Available to Common Shareholders  872  607  265 43.7%
         
Diluted Earnings per Common Share 0.25 0.17 0.08 47.1%
         
Return on Average Equity 8.34% 6.32% N/A 32.0%

 

President's Statement

We are pleased to report a $265,000, or 43.7%, improvement in our net income available to common shareholders over the results we recorded in the first quarter of 2010. We accomplished this through asset growth of 9.7%, deposit growth of 11.8%, and net interest income growth of 10.7% during that time period.

We consider the first quarter of 2011 to be another step forward in our recovery from 2009. The recovery has been framed by a commitment to responsible growth in quality loans, relationship deposits, and net interest income, while maintaining a "mission critical only" spending policy. We remain cautiously optimistic that our plan is succeeding, and that the best is yet to come.

On behalf of the Board of Directors, I announce today that Mid Penn Bancorp, Inc. is declaring a cash dividend of $0.05 per share on our common stock based upon our results of operations for the first quarter of 2011, the results of which are summarized above. The dividend is payable May 23, 2011 to shareholders of record May 11, 2011.

Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements.  The review period for subsequent events extends up to and including the filing date of a public company's consolidated financial statements when filed with the Securities and Exchange Commission ("SEC").  Accordingly, the financial information in this announcement is subject to change.

The Mid Penn Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6428

SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS

Certain of the matters discussed in this press release may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mid Penn to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The words "expect", "anticipate", "intend", "plan", "believe", "estimate", and similar expressions are intended to identify such forward-looking statements.

Mid Penn's actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation:

  • The effects of future economic conditions on Mid Penn and its customers;
  • Governmental monetary and fiscal policies, as well as legislative and regulatory changes;
  • The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters;
  • The risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities and interest rate protection agreements, as well as interest rate risks;
  • The effects of economic deterioration on current customers, specifically the effect of the economy on loan customers' ability to repay loans;
  • The effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in Mid Penn's market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the internet;
  • The costs and effects of litigation and of unexpected or adverse outcomes in such litigation;
  • Technological changes;
  • Acquisitions and integration of acquired businesses;
  • The failure of assumptions underlying the establishment of reserves for loan and lease losses and estimations of values of collateral and various financial assets and liabilities;
  • Acts of war or terrorism;
  • Volatilities in the securities markets;
  • Deteriorating economic conditions.

All written or oral forward-looking statements attributable to Mid Penn are expressly qualified in their entirety by these cautionary statements.

CONTACT: Mid Penn Bancorp, Inc.
         Rory G. Ritrievi
         President
         Chief Executive Officer
         Kevin W. Laudenslager
         Chief Financial Officer
         349 Union Street
         Millersburg, PA  17061
         (717) 692-2133