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The Corporation’s common stock is traded on NASDAQ under the symbol MPB.
−Removed: MID PENN BANCORP, INC.
Transfer Agent:
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In 2020, Mid Penn announced the adoption of a treasury stock repurchase program ("Repurchase Program") authorizing the repurchase of up to $15.0 million of Mid Penn’s outstanding common stock, which represents approximately 3.5% of the issued shares based on Mid Penn’s closing stock price and shares issued as of March 31, 2022.
−Removed: The Repurchase Program was extended through March 19, 2023 by Mid Penn’s Board of Directors on March 23, 2022.
+Added: The Repurchase Program was extended through May 11, 2024 by Mid Penn’s Board of Directors on May 11, 2023.
Under the Repurchase Program, Mid Penn may conduct repurchases of its common stock through open market transactions (which may be by means of a trading plan adopted under SEC Rule 10b5-1) or in privately negotiated transactions.
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There is no guarantee as to the exact number of shares that Mid Penn may repurchase.
−Removed: The Repurchase Program became effective March 19, 2020 and is authorized to continue through March 19, 2023, unless otherwise extended by Mid Penn’s Board of Directors.
The Repurchase Program may be modified, suspended or terminated at any time, in Mid Penn’s discretion, based upon a number of factors, including liquidity, market conditions, the availability of alternative investment opportunities and other factors Mid Penn deems appropriate.
The Repurchase Program does not obligate Mid Penn to repurchase any shares.
−Removed: As of December 31, 2022, Mid Penn had repurchased 208,343 shares of common stock at an average price of $23.42 per share under the Repurchase Program.
−Removed: There were no share repurchases during the fourth quarter of 2022.
+Added: During the year ended December 31, 2023, Mid Penn repurchased 216,879 shares of common stock at an average price of $22.31 per share under the Repurchase Program.
The Repurchase Program had $5.3 million remaining available for repurchase as of December 31, 2023.
+Added: There were 12,500 shares repurchased during the fourth quarter of 2023:
+Added: October 2023 November 2023 December 2023
+Added: Number of shares repurchased
+Added: — 2,500 10,000
Securities Authorized for Issuance under Equity Compensation Plans:
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Stock Performance Graph
−Removed: (1) Comprised of commercial banks with total assets ranging between $2.3 billion and $9.5 billion.
+Added: As of December 31, 2023, to better align with the Company's direct competitors, the Company has chosen to change the composition of its peer group for the performance graph below.
+Added: The total shareholder return is based on a $100 investment on December 31, 2018.
+Added: Index 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023
+Added: Mid Penn Bancorp, Inc.
+Added: 100.00 129.12 101.73 152.16 147.69 124.02
+Added: Current Peers (1) 100.00 127.28 100.92 154.07 142.61 147.00
+Added: Prior Peers (2) 100.00 123.31 92.01 129.81 122.04 121.37
+Added: KBW NASDAQ Bank Index Return 100.00 132.14 114.13 154.13 117.56 111.93
+Added: (1) Current Peers includes AMAL, CCNE, CHCO, CNOB, FCF, FFIC, FISI, KRNY, MCB, NFBK, ORRF, PGC, STBA, TBBK, TMP, TRST, UVSP and WASH;
+Added: Excludes CATC due to announced merger with EBC
+Added: (2) Prior Peers includes ACNB, AROW, CARE, CCNE, CHCO, CNOB, CZNC, EBTC, FCF, FISI, FLIC, FRBK, FRST, LBAI, ORRF, PFIS, PGC, SMMF, STBA, TMP and UVSP;
+Added: Excludes CATC due to announced merger with EBC
+Added: Peer group returns reflect average total return of respective peer group
In accordance with the rules of the SEC, this section, captioned "Stock Performance Graph," is not incorporated by reference into any of our future filings made under the Securities Exchange Act of 1934 or the Securities Act of 1933.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.