Sign in Subscribe
Banking industry

Mid Penn Bancorp Completes Acquisition of William Penn Bancorporation

Strategic Insights

— 1 min read

Mid Penn Bancorp, Inc., a banking company listed on the NASDAQ, has finalized its acquisition of William Penn Bancorporation, expanding its reach into the Greater Philadelphia and Southern New Jersey regions. The all-stock deal, valued at approximately $120 million, brings together two institutions with deep community banking roots. The combined company now holds approximately $6.3 billion in consolidated assets, welcoming William Penn Bank customers and employees to Mid Penn Bank.

Key Takeaways:

  • The acquisition of William Penn Bancorporation by Mid Penn Bancorp, Inc. was completed on April 30, 2025, marking the beginning of a new chapter in Mid Penn's expansion into the Greater Philadelphia area market.
  • The all-stock transaction was valued at approximately $120 million, creating a combined entity with a significant presence in community banking.
  • The consolidated assets of the combined company total approximately $6.3 billion, solidifying Mid Penn's position as a major player in the banking sector.
  • Rory G. Ritrievi, Chairman, President, and CEO of Mid Penn Bancorp, Inc., expressed enthusiasm for the merger, highlighting the institution's commitment to delivering unwavering service and a wide array of products.
  • The acquisition brings Kenneth J. Stephon, former Chairman, President, and CEO of William Penn and William Penn Bank, onto the Boards of Directors of Mid Penn and Mid Penn Bank, effective immediately. Mr. Stephon will also serve as Vice Chair of Mid Penn Bank and Chief Corporate Development Officer.
  • Key advisors involved in the transaction include: Stephens Inc. (financial advisor to Mid Penn), Keefe, Bruyette & Woods (fairness opinion for Mid Penn), Pillar + Aught (legal advisor to Mid Penn), Piper Sandler & Co. (financial advisor to William Penn), and Kilpatrick Townsend & Stockton LLP (legal advisor to William Penn).

Statistics:

  • April 30, 2025: Date of the completion of the acquisition of William Penn Bancorporation by Mid Penn Bancorp, Inc.
  • $120 million: Approximate value of the all-stock transaction.
  • $6.3 billion: Consolidated assets of the combined company.
  • 2 institutions: Number of banking entities involved in the merger.
  • 2 regions: Greater Philadelphia and Southern New Jersey regions into which Mid Penn expands its footprint.

Sources:

  • Mid Penn Bancorp, Inc. press release (April 30, 2025)
  • NASDAQ: MPB
  • William Penn Bancorporation (no date specified)
  • Stephens Inc. (no date specified)
  • Keefe, Bruyette & Woods (no date specified)
  • Pillar + Aught (no date specified)
  • Piper Sandler & Co. (no date specified)
  • Kilpatrick Townsend & Stockton LLP (no date specified)

Read more