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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 May 11, 2024 by Mid Penn’s Board of Directors on May 11, 2023.
+Added: The Repurchase Program was extended through April 24, 2025 by Mid Penn’s Board of Directors on April 24, 2024.
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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The Repurchase Program does not obligate Mid Penn to repurchase any shares.
−Removed: 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.
−Removed: The Repurchase Program had $5.3 million remaining available for repurchase as of December 31, 2023.
−Removed: There were 12,500 shares repurchased during the fourth quarter of 2023:
−Removed: October 2023 November 2023 December 2023
−Removed: Number of shares repurchased
−Removed: — 2,500 10,000
+Added: During the year ended December 31, 2024, Mid Penn repurchased 15,500 shares of common stock at an average price of $20.81 per share.
+Added: No shares were purchased during the fourth quarter of 2024.
+Added: As of December 31, 2024, Mid Penn had repurchased 440,722 shares of common stock at an average price of $22.78 per share under the Program.
+Added: The Repurchase Program had approximately $5.0 million remaining available for repurchase as of December 31, 2024.
Securities Authorized for Issuance under Equity Compensation Plans:
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KBW NASDAQ Bank Index Return 100.00 86.37 116.64 88.97 84.71 112.44
−Removed: (1) Current Peers includes AMAL, CCNE, CHCO, CNOB, FCF, FFIC, FISI, KRNY, MCB, NFBK, ORRF, PGC, STBA, TBBK, TMP, TRST, UVSP and WASH;
−Removed: Excludes CATC due to announced merger with EBC
−Removed: (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;
−Removed: Excludes CATC due to announced merger with EBC
+Added: (1) Current Peers includes AROW, CCNE, CHMG, CNOB, CZFS, CZNC, FCF, FFIC, FISI, FRBA, LNKB, ORRF, PFIS, PGC, SHBI, STBA, TMP, UNTY and UVSP;
+Added: Excludes FLIC due to pending merger with CNOB
+Added: (2) Prior 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 completed merger with EBC
Peer group returns reflect average total return of respective peer group
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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.