Mid Penn Bancorp, Inc. Reports First Quarter Earnings
25 Aprile 2007 - 8:44PM
Business Wire
Mid Penn Bancorp, Inc. (AMEX:MBP), parent company of Mid Penn Bank,
announced earnings for the first quarter of 2007 of $1,084,000
compared to $1,155,000 earned in the first quarter of 2006.
Earnings per share were $.32 per share compared to $.34 per share
for the first quarter of 2006, a decrease of 5.9%. Earnings during
the first quarter of 2007 were adversely affected by a flat yield
curve as well as limited earning asset growth during the quarter.
Revenue during the first quarter of 2006 was aided by a $152,000
gain that was realized on the sale of a parcel of other real estate
held by the Bank. Total assets at the end of the first quarter of
2007 were approximately $492 million, versus $441 million the prior
year, an increase of 11.6%. Total loans of $355 million increased
by $41 million or 13.2% at March 31, 2007, compared to the prior
year. Total deposits as of the same date were $380 million compared
to $323 million the prior year, an increase of 17.6%. These
increases include the December 2006 purchase of existing bank
offices in Middletown and Steelton, Pennsylvania. Mid Penn Bank has
been an independently owned community bank since 1868 offering a
full line of business, personal and trust services. Mid Penn
Bancorp, through its subsidiary, Mid Penn Bank, operates 14 offices
in Dauphin, Northumberland, Schuylkill, and Cumberland Counties.
For more information, visit Mid Penn�s website at
www.midpennbank.com and view the Investor Relations page where
comprehensive investor information is available concerning Mid Penn
Bancorp, Inc.
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