MID PENN BANCORP INC 10-Q

mpb-20260630 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 1-13677 MID PENN BANCORP, INC. (Exact Name of Registrant as Specified in its Charter) Pennsylvania 25-1666413 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) 2407 Park Drive Harrisburg , Pennsylvania 17110 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code 1.866 . 642.7736 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $1.00 par value per share MPB The NASDAQ Stock Market LLC Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definition of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer o Accelerated Filer x Emerging Growth Company o Non-accelerated Filer o Smaller Reporting Company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o No x As of July 31, 2026, the registrant had 25,335,215 shares of common stock outstanding, par value $1.00 per share. 1 Table of Contents FORM 10-Q TABLE OF CONTENTS PART 1 – FINANCIAL INFORMATION Item 1 – Financial Statements 4 Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 (Unaudited) 4 Consolidated Statements of Income for the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) 5 Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) 6 Consolidated Statements of Changes in Shareholders’ Equity for the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) 7 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025 (Unaudited) 9 Notes to Consolidated Financial Statements (Unaudited) 11 Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations 46 Item 3 – Quantitative and Qualitative Disclosures about Market Risk 69 Item 4 – Controls and Procedures 70 PART II – OTHER INFORMATION 71 Item 1 – Legal Proceedings 71 Item 1A – Risk Factors 71 Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 72 Item 3 – Defaults upon Senior Securities 73 Item 4 – Mine Safety Disclosures 73 Item 5 – Other Information 73 Item 6 – Exhibits 74 Signatures 75 Unless the context otherwise requires, the terms "Mid Penn", "Corporation" "we", "us", and "our" refer to Mid Penn Bancorp, Inc. and its consolidated wholly-owned banking subsidiary and nonbank subsidiaries. 2 Table of Contents GLOSSARY OF DEFINED ACRONYMS AND TERMS 1st Colonial 1st Colonial Bancorp, Inc. 2023 Plan 2023 Stock Incentive Plan ACL Allowance for Credit Losses AFS Available-for-Sale AOCI Accumulated Other Comprehensive Income/(Loss) ASC Accounting Standards Codification ASU Accounting Standards Update the Bank Mid Penn Bank BOLI Bank-Owned Life Insurance bp or bps basis point(s) CD Certificate of Deposit CECL Current Expected Credit Losses as defined by FASB ASC Topic 326 CRE Commercial Real Estate Cumberland Advisors Acquisition The merger of Cumberland Advisors with and into a newly formed acquisition subsidiary of Mid Penn DCF Discounted Cash Flow DIF FDIC’s Deposit Insurance Fund DRIP Dividend Reinvestment Plan EPS Earnings per share FASB Financial Accounting Standards Board FDIC Federal Deposit Insurance Corporation FHLB Federal Home Loan Bank of Pittsburgh FICO Fair Isaac Corporation credit scoring model FOMC Federal Open Market Committee FTE Fully taxable-equivalent HELOC Home Equity Line of Credit HFS Held-for-Sale HTM Held-to-Maturity GAAP Accounting Principles Generally Accepted in the United States of America GDP Gross domestic product LGD Loss Given Default LHFI Loans held-for-investment Loans Loans, net of unearned income Management Discussion Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") Mid Penn or the Corporation Mid Penn Bancorp, Inc. NASDAQ Major stock exchange where the Corporation's shares are traded OBS Off-Balance Sheet OCI Other Comprehensive Income OREO Other Real Estate Owned PCD Purchased Credit Deteriorated PCL Provision for Credit Losses - Loans PD Probability of Default PSL Purchased seasoned loans Riverview Riverview Financial Corporation Riverview Acquisition Merger acquisition of Riverview SBA Small Business Administration SEC Securities Exchange Commission SOFR Secured Overnight Financing Rate William Penn William Penn Bancorporation 3 Table of Contents MID PENN BANCORP, INC. PART 1 – FINANCIAL INFORMATION ITEM 1 – FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Dollars in thousands, except per share data) June 30, 2026 December 31, 2025 ASSETS Cash and due from banks $ 55,168 $ 46,695 Interest-bearing balances with other financial institutions 15,367 29,178 Federal funds sold 16,111 23,045 Total Cash and cash equivalents 86,646 98,918 Investment securities: HTM, at amortized cost (fair value $ 346,306 and $ 321,702 , respectively) 372,866 347,285 AFS, at fair value (amortized cost $ 513,616 and $ 426,512 , respectively) 499,773 416,314 Equity securities, at fair value 5,387 5,446 Loans held-for-sale, at fair value 16,595 3,668 Loans, net of unearned income 5,617,169 4,862,838 Less: ACL - Loans ( 41,640 ) ( 36,091 ) Net loans 5,575,529 4,826,747 Premises and equipment, net 49,236 48,742 Operating lease right-of-use asset 15,872 15,169 Finance lease right-of-use asset 2,278 2,368 Cash surrender value of life insurance 117,515 95,351 Restricted investment in bank stocks 15,720 7,576 Accrued interest receivable 33,391 29,640 Deferred income taxes 23,227 21,416 Goodwill 157,121 136,620 Core deposit and other intangibles, net 31,173 14,657 Foreclosed assets held-for-sale 8,390 7,806 Other assets 52,191 56,173 Total Assets $ 7,062,910 $ 6,133,896 LIABILITIES & SHAREHOLDERS’ EQUITY Deposits: Noninterest-bearing demand $ 973,371 $ 834,013 Interest-bearing transaction accounts 3,299,576 2,829,175 Time 1,680,350 1,551,475 Total Deposits 5,953,297 5,214,663 Short-term borrowings 137,500 20,833 Long-term debt 2,902 23,139 Operating lease liability 16,275 15,405 Accrued interest payable 12,175 10,942 Other liabilities 38,854 34,856 Total Liabilities 6,161,003 5,319,838 Shareholders' Equity: Common stock, par value $ 1.00 per share; 40,000,000 shares authorized at June 30, 2026 and December 31, 2025; 25,923,997 issued at June 30, 2026 and 23,567,094 at December 31, 2025; 25,320,686 outstanding at June 30, 2026 and 23,047,203 at December 31, 2025 25,924 23,567 Additional paid-in capital 661,903 589,421 Retained earnings 238,224 219,685 Accumulated other comprehensive loss ( 9,142 ) ( 6,323 ) Treasury stock, at cost; 603,311 shares at June 30, 2026 and 519,891 at December 31, 2025 ( 15,002 ) ( 12,292 ) Total Shareholders’ Equity 901,907 814,058 Total Liabilities and Shareholders' Equity $ 7,062,910 $ 6,133,896 The accompanying notes are an integral part of these unaudited consolidated financial statements. 4 Table of Contents MID PENN BANCORP, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share data) 2026 2025 2026 2025 INTEREST INCOME Loans, including fees $ 88,574 $ 72,469 $ 165,373 $ 139,006 Investment securities: Taxable 7,558 4,637 14,059 9,097 Tax-exempt 284 344 581 692 Other interest-bearing balances 117 142 227 280 Federal funds sold 159 2,428 378 2,689 Total Interest Income 96,692 80,020 180,618 151,764 INTEREST EXPENSE Deposits 30,619 30,981 58,467 59,245 Short-term borrowings 764 86 1,467 376 Long-term and subordinated debt 29 747 155 1,428 Total Interest Expense 31,412 31,814 60,089 61,049 Net Interest Income 65,280 48,206 120,529 90,715 Provision for credit losses - loans 557 2,245 2,205 2,566 Benefit for credit losses - credit commitments ( 29 ) 24 ( 83 ) 4 Net provision for credit losses 528 2,269 2,122 2,570 Net Interest Income After Provision for Credit Losses $ 64,752 $ 45,937 $ 118,407 $ 88,145 NONINTEREST INCOME Fiduciary and wealth management 3,891 1,406 7,552 2,546 ATM debit card interchange 1,169 958 2,204 1,877 Service charges on deposits 632 652 1,268 1,214 Mortgage banking 1,119 676 1,432 1,267 Mortgage hedging 113 ( 7 ) 193 ( 16 ) Net gain on sales of SBA loans 27 63 190 120 Earnings from cash surrender value of life insurance 1,041 491 1,746 765 Other 2,594 1,904 5,605 3,609 Total Noninterest Income 10,586 6,143 20,190 11,382 NONINTEREST EXPENSE Salaries and employee benefits 26,945 20,753 50,291 37,062 Software licensing and utilization 4,155 3,272 7,756 5,846 Occupancy, net 2,891 2,365 6,145 4,639 Equipment 1,684 1,248 3,237 2,342 Shares tax 822 606 1,786 1,525 Legal and professional fees 2,157 993 3,846 1,819 ATM/card processing 689 621 1,446 1,354 Intangible amortization 1,819 744 3,119 1,172 FDIC Assessment 663 994 1,463 1,984 Loss/(gain) on sale of foreclosed assets, net 4 — 495 ( 28 ) Merger and acquisition 103 11,011 7,826 11,325 Other 5,835 5,191 12,315 9,400 Total Noninterest Expense 47,767 47,798 99,725 78,440 INCOME BEFORE PROVISION FOR INCOME TAXES $ 27,571 $ 4,282 $ 38,872 $ 21,087 Provision for income taxes 5,880 ( 480 ) 8,475 2,583 NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 21,691 $ 4,762 $ 30,397 $ 18,504 PER COMMON SHARE DATA: Basic Earnings Per Common Share $ 0.86 $ 0.22 $ 1.23 $ 0.90 Diluted Earnings Per Common Share $ 0.85 $ 0.22 $ 1.22 $ 0.89 Weighted-average basic shares outstanding 25,330,234 21,566,617 24,643,437 20,467,349 Weighted-average diluted shares outstanding 25,624,750 21,599,435 24,936,085 20,768,834 The accompanying notes are an integral part of these unaudited consolidated financial statements. 5 Table of Contents MID PENN BANCORP, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2026 2025 2026 2025 Net income $ 21,691 $ 4,762 $ 30,397 $ 18,504 Other comprehensive income: Unrealized (losses)/gains arising during the period on available-for-sale securities, net of income tax ( 872 ) 2,755 ( 2,818 ) 6,411 Unrealized holding (losses)/gains arising during the period on interest rate derivatives used in cash flow hedges, net of income tax ( 103 ) ( 338 ) 26 ( 1,322 ) Change in defined benefit plans, net of income tax (1) ( 10 ) ( 10 ) 21 6 Reclassification adjustment for settlement gains and other activity related to benefit plans, net of income tax (2) — — ( 48 ) ( 26 ) Total other comprehensive (loss)/income ( 985 ) 2,407 ( 2,819 ) 5,069 Total comprehensive income $ 20,706 $ 7,169 $ 27,578 $ 23,573 (1) The change in defined benefit plans consists primarily of unrecognized actuarial gains (losses) on defined benefit plans during the period. (2) The reclassification adjustment for benefit plans includes settlement gains, amortization of prior service costs, and amortization of net gain or loss. Amounts are included in other income on the Consolidated Statements of Income within total noninterest income. The accompanying notes are an integral part of these unaudited consolidated financial statements. 6 Table of Contents MID PENN BANCORP, INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive (Loss) Income Treasury Stock Total Shareholders' Equity (Dollars in thousands, except per share data) Shares Amount Balance, January 1, 2026 23,567,094 $ 23,567 $ 589,421 $ 219,685 $ ( 6,323 ) $ ( 12,292 ) $ 814,058 Net income — — — 8,706 — — 8,706 Total other comprehensive income — — — — ( 1,834 ) — ( 1,834 ) Common stock cash dividends declared, $ 0.22 per share — — — ( 6,237 ) — — ( 6,237 ) Common stock issued in business combinations (1) 2,238,085 2,238 69,615 — — — 71,853 Stock options exercised — — 132 — — — 132 Repurchased stock — — — — — — — Employee Stock Purchase Plan 5,352 5 161 — — — 166 Director Stock Purchase Plan 855 1 27 — — — 28 Restricted stock activity 5,268 6 527 — — — 533 Balance, March 31, 2026 25,816,654 25,817 659,883 222,154 ( 8,157 ) ( 12,292 ) 887,405 Net income — — — 21,691 — — 21,691 Total other comprehensive income — — — — ( 985 ) — ( 985 ) Common stock cash dividends declared, $ 0.22 per share — — — ( 5,621 ) — — ( 5,621 ) Stock options exercised 33,807 34 1,042 — — — 1,076 Repurchased stock — — — — — ( 2,710 ) ( 2,710 ) Employee Stock Purchase Plan 4,470 4 139 — — — 143 Director Stock Purchase Plan 791 1 27 — — — 28 Restricted stock activity 68,275 68 812 — — — 880 Balance, June 30, 2026 25,923,997 25,924 661,903 238,224 ( 9,142 ) ( 15,002 ) 901,907 (1) Shares issued on January 1, 2026 and February 27, 2026 as a result of the Cumberland Advisors and 1st Colonial acquisitions. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information. 7 Table of Contents MID PENN BANCORP, INC. Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Total Shareholders' Equity (Dollars in thousands, except per share data) Shares Amount Balance, January 1, 2025 19,796,519 $ 19,797 $ 480,491 $ 181,597 $ ( 16,825 ) $ ( 10,042 ) $ 655,018 Net income — — — 13,742 — — 13,742 Total other comprehensive loss — — — — 2,662 — 2,662 Common stock cash dividends declared, $ 0.20 per share — — — ( 3,870 ) — — ( 3,870 ) Repurchased stock — — — — — — — Employee Stock Purchase Plan 5,311 5 132 — — — 137 Director Stock Purchase Plan 986 1 25 — — — 26 Restricted stock activity — — 218 — — — 218 Balance, March 31, 2025 19,802,816 $ 19,803 $ 480,866 $ 191,469 $ ( 14,163 ) $ ( 10,042 ) $ 667,933 Net income — — — 4,762 — — 4,762 Total other comprehensive loss — — — — 2,407 — 2,407 Common stock cash dividends declared, $ 0.20 per share — — — ( 4,657 ) — — ( 4,657 ) Common stock issued in business combinations (1) 3,506,795 3,507 99,699 — — — 103,206 Stock options exercised 31,323 31 3,333 — — — 3,364 Repurchased stock — — — — — ( 1,778 ) ( 1,778 ) Employee Stock Purchase Plan 4,636 5 115 — — — 120 Director Stock Purchase Plan 901 1 24 — — — 25 Restricted stock activity 72,257 72 254 — — — 326 Balance, June 30, 2025 23,418,728 $ 23,419 $ 584,291 $ 191,574 $ ( 11,756 ) $ ( 11,820 ) $ 775,708 (1) Shares issued on April 30, 2025 as a result of the William Penn acquisition. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information. The accompanying notes are an integral part of these unaudited consolidated financial statements. 8 Table of Contents MID PENN BANCORP, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended June 30, (In thousands) 2026 2025 Operating Activities: Net Income $ 30,397 $ 18,504 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 2,122 2,570 Depreciation 3,036 2,305 Amortization of intangibles 3,119 1,172 Net amortization of security discounts/premiums 388 132 Noncash operating lease expense 1,710 1,335 Amortization of finance lease right-of-use asset 90 90 Loss on sales of investment securities — 243 Earnings on cash surrender value of life insurance ( 1,746 ) ( 765 ) Mortgage loans originated for sale ( 50,301 ) ( 31,868 ) Proceeds from sales of mortgage loans originated for sale 38,806 34,098 Gain on sale of mortgage loans ( 1,432 ) ( 1,267 ) SBA loans originated for sale ( 3,111 ) ( 1,783 ) Proceeds from sales of SBA loans originated for sale 3,301 1,903 Gain on sale of SBA loans ( 190 ) ( 120 ) Gain on sale of property, plant, and equipment — ( 10 ) Loss/(gain) on sale or write-down of foreclosed assets 495 ( 28 ) Discount on subordinated debt — ( 307 ) Accretion of loan fair value marks 4,293 2,882 Restricted stock compensation expense 1,413 544 Stock option expense 1,208 3,364 Deferred income tax expense 2,115 1,451 Increase in accrued interest receivable 307 571 Increase in other assets 8,055 4,586 Increase/(decrease) in accrued interest payable 1,105 ( 92 ) Increase in operating lease liability 805 4,928 Increase in other liabilities 850 2,310 Net Cash Provided By Operating Activities $ 46,835 $ 46,748 Investing Activities: Proceeds from the maturity or call of available-for-sale securities 50,596 19,430 Purchases of available-for-sale securities ( 138,770 ) ( 155,899 ) Proceeds from the maturity or call of held-to-maturity securities 19,785 18,295 Purchases of held-to-maturity securities ( 45,435 ) — Redemption of restricted investment in bank stock 11,782 8,962 Purchases of restricted investment in bank stock ( 19,927 ) ( 8,611 ) Net cash received from acquisitions 162,829 218,112 Net (increase)/decrease in loans ( 174,668 ) 2,276 Purchases of bank premises and equipment ( 2,593 ) ( 4,483 ) Proceeds from the sale of premises and equipment — 120 Proceeds from the sale of foreclosed assets 209 72 Proceeds from bank-owned life insurance 2,022 444 Net change in investments in tax credits and other partnerships 1,113 1,202 Net Cash (Used in)/Provided by Investing Activities $ ( 133,057 ) $ 99,920 9 Table of Contents MID PENN BANCORP, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(CONTINUED) Financing Activities: Net (decrease)/increase in deposits ( 8,277 ) 139,977 Common stock dividends paid ( 11,858 ) ( 8,527 ) Proceeds from Employee and Director Stock Purchase Plan stock issuance 365 308 Treasury stock purchased ( 2,710 ) ( 1,778 ) Net change in finance lease liability ( 75 ) ( 72 ) Proceeds from short-term borrowings 658,667 — Repayment of short-term borrowings ( 542,000 ) ( 2,000 ) Long-term debt repayment ( 20,162 ) ( 157 ) Subordinated debt redemption — ( 8,131 ) Cash paid in lieu of fractional shares — ( 7 ) Net Cash Provided by Financing Activities 73,950 119,613 Net (decrease)/increase in cash and cash equivalents ( 12,272 ) 266,281 Cash and cash equivalents, beginning of period 98,918 70,564 Cash and cash equivalents, end of period $ 86,646 $ 336,845 Supplemental Disclosures of Cash Flow Information: Cash paid for interest $ 58,856 $ 61,112 Cash paid for income taxes 758 399 Supplemental Noncash Disclosures: Recognition of operating lease right-of-use assets $ 65 $ 2,322 Recognition of operating lease liabilities 65 2,322 Loans transferred to foreclosed assets held-for-sale 1,288 9,816 Common Stock issued to Cumberland Advisors and 1st Colonial Shareholders 2,238 — Fair value of assets acquired in business combination, excluding cash (1)(2) $ 756,794 $ 688,669 Goodwill recorded (1)(2) 20,391 7,313 Fair value of liabilities assumed in business combination (1)(2) 753,509 630,181 Fair value of shares issued in business combination (1)(2) 71,853 103,213 (1) Includes the impact of the 1st Colonial acquisition on February 27, 2026 and the Cumberland Advisors acquisition on January 1, 2026 . See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information . ( 2 ) Includes the impact of the William Penn acquisition on April 30, 2025 and the Charis Insurance Group acquisition on May 12, 2025. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information . The accompanying notes are an integral part of these unaudited consolidated financial statements. 10 Table of Contents MID PENN BANCORP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Note 1 - Summary of Significant Accounting Policies Nature of Operations Mid Penn Bancorp, Inc. ("Mid Penn" or the "Corporation"), through operations conducted by Mid Penn Bank (the "Bank") and its nonbank subsidiaries, engages in a full-service commercial banking and trust business, making available to the community a wide range of financial services, including, but not limited to, mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development loans, loans to non-profit entities and local government loans, and various types of time and demand deposits including but not limited to, checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and Individual Retirement Accounts ("IRA"). In addition, the Bank provides a full range of trust and wealth management services through its Trust Department. Deposits are insured by the Federal Deposit Insurance Corporation ("FDIC") to the extent provided by law. Mid Penn also fulfills the insurance needs of both existing and potential customers through MPB Risk Services, LLC, doing business as MPB Insurance and Risk Management. The financial services are provided to individuals, partnerships, non-profit organizations, and corporations through its retail banking offices located throughout Pennsylvania, with a minor portion in New Jersey. Basis of Presentation For all periods presented, the accompanying Consolidated Financial Statements include the accounts of Mid Penn Bancorp, Inc., its wholly-owned subsidiary, Mid Penn Bank, and five wholly-owned nonbank subsidiaries, MPB Realty, LLC, MPB Financial Services, LLC, which includes Cumberland Advisors, LLC and MPB Risk Services, LLC, and MPB Launchpad Fund I, LLC. Mid Penn has only one reportable segment for financial reporting purposes. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. Mid Penn believes the information presented is not misleading, and the disclosures are adequate. In the opinion of management, all adjustments necessary for fair presentation of the periods presented have been reflected in the accompanying consolidated financial statements. All such adjustments are of a normal, recurring nature. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the 2025 Annual Report. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Material estimates subject to significant change include the allowance for credit losses, expected cash flows on acquired loans, business combination fair value computations, and the valuation of goodwill and other intangible assets. 11 Table of Contents MID PENN BANCORP, INC. Recent Accounting Pronouncements Accounting Standards Adopted in 2026 Effective January 1, 2026, the Corporation adopted ASU 2025-08, Financial Instruments - Credit Losses (Topic 326): Purchased Loans . The impact of adoption is reflected in the ACL rollforward in "Note 4 - Loans and Allowance for Credit Losses". The adoption did not result in a cumulative-effect adjustment to beginning retained earnings. Accounting Standards Pending Adoption ASU 2024-03 : The FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses The amendments in the ASU improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. ASU 2024-03 is not expected to have a significant impact on the Corporation's financial statements. ASU 2025-01 - The FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date The amendments in the ASU clarify the effective date of ASU 2024-03 which requires public business entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The amendments in the ASU are effective for the first annual reporting period beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. ASU 2025-01 is not expected to have a significant impact on the Corporation's financial statements. ASU 2025-09 - The FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements The amendments in this ASU refine hedge accounting guidance to better align accounting with risk management strategies. The amendments are effective for fiscal years beginning after December 15, 2026, including interim periods therein. Early adoption is permitted. ASU 2025-09 is not expected to have a significant impact on the Corporation's financial statements. Management does not expect the adoption of any other recently issued accounting standards to have a material impact on the Corporation's consolidated financial statements. 12 Table of Contents MID PENN BANCORP, INC. Note 2 - Business Combinations Cumberland Advisors, Inc. Acquisition On January 1, 2026, Mid Penn completed its acquisition of Cumberland Advisors, Inc., a registered investment advisory firm, for total consideration of $ 5.5 million. As a result of the acquisition, Mid Penn paid holders of Cumberland Advisors, Inc. common stock $ 1.6 million in cash and issued 127,009 shares of Mid Penn common stock. In connection with the acquisition, Cumberland Advisors, Inc. was merged into a newly formed Mid Penn acquisition subsidiary and now operates as Cumberland Advisors, LLC. As of June 30, 2026, Cumberland Advisors, LLC had approximately $ 2.8 billion in assets under management. Mid Penn recognized goodwill of $ 5.1 million, and a customer list intangible of $ 2.1 million as a result of the acquisition. Mid Penn incurred merger-related expenses related to the Cumberland Advisors Acquisition of $ 79 thousand and $ 622 thousand for the three and six months ended June 30, 2026, respectively, which is included in noninterest expense in the Consolidated Statements of Income. 1st Colonial Bancorp, Inc. Acquisition On February 27, 2026, Mid Penn completed its acquisition of 1st Colonial Bancorp, Inc., through the merger of 1st Colonial with and into Mid Penn. The acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations. In connection with the merger, Mid Penn issued 2,111,076 shares of Mid Penn common stock and paid holders of 1st Colonial common stock approximately $ 37.5 million in cash. Each share of Mid Penn common stock outstanding prior to the merger remained outstanding and unaffected by the merger. Mid Penn recognized goodwill of $ 15.3 million, and a core deposit intangible asset of $ 17.3 million as a result of this acquisition. This is calculated as the excess of consideration exchanged and liabilities assumed compared to the fair value of identifiable assets acquired. Goodwill is primarily comprised of expected synergies, the assembled workforce, and expanded market presence. Goodwill is not deductible for income tax purposes. Mid Penn incurred merger-related expenses related to 1st Colonial acquisition of $ 19 thousand and $ 7.2 million for the three and six months ended June 30, 2026, respectively, which is included in noninterest expense in the Consolidated Statements of Income. Purchased loans and leases that reflect a more-than-insignificant deterioration of credit from origination are considered PCD. Mid Penn considers various factors in connection with the identification of more-than-insignificant deterioration in credit, including but not limited to nonperforming status, delinquency, risk ratings, FICO scores and other qualitative factors that indicate deterioration in credit quality since origination. For PCD loans and leases, the initial estimate of expected credit losses is recognized in the ACL on the date of acquisition using the same methodology as other loans and leases held-for-investment. As part of the 1st Colonial acquisition, Mid Penn acquired PSL and PCD loans of $ 599.4 million and $ 7.4 million, respectively. The day 1 allowance recorded at acquisition was $ 4.4 million, including $ 977 thousand related to PCD loans. The related fair value adjustment reflected both expected credit losses recognized at acquisition and other loan valuation factors, including interest rate risk and liquidity considerations. 13 Table of Contents MID PENN BANCORP, INC. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date: (In thousands) Assets acquired: Cash and cash equivalents $ 89,568 Federal funds sold 17 Investment securities 114,405 Loans held for sale 4,031 Loans 581,823 Core deposit intangible 17,322 Premises and equipment 860 Operating lease right-of-use asset 1,513 Cash surrender value of life insurance 22,440 Deferred income taxes 2,647 Accrued interest receivable 4,058 Other assets 3,816 Total assets acquired $ 842,500 Liabilities assumed: Deposits: Noninterest-bearing demand 84,208 Interest-bearing demand 451,441 Money market 9,202 Savings 109,200 Time 92,860 Operating lease liability 1,513 Accrued interest payable 128 Other liabilities 3,114 Total liabilities assumed $ 751,666 Consideration transferred $ 106,120 Cash paid in lieu of fractional shares $ 2 Cash consideration for common stock 37,489 Purchase price assigned to stock options settled for cash 716 Fair value of common stock issued 67,913 Total $ 106,120 Reconciliation to consideration transferred: Total assets acquired $ 842,500 Total liabilities assumed 751,666 Net assets acquired 90,834 Goodwill 15,286 Consideration transferred $ 106,120 14 Table of Contents MID PENN BANCORP, INC. The fair values of assets acquired and liabilities assumed are based on preliminary estimates and, as permitted under GAAP, Mid Penn has up to twelve months following the date of the merger to finalize the fair values of the acquired assets and assumed liabilities related to the merger. During this measurement period, Mid Penn may record subsequent adjustments to goodwill for provisional amounts recorded at the merger date, with provisional merger-related tax adjustments. 1st Colonial contributed approximately $ 3.8 million of total revenue and $ 2.8 million of net income to Mid Penn's consolidated results for the three months ended June 30, 2026. For the six months ended June 30, 2026, 1st Colonial contributed approximately $ 5.0 million of total revenue and $ 3.7 million of net income to Mid Penn's consolidated results. The following supplemental pro forma information presents certain financial results for the three and six months ended June 30, 2026 and 2025 as if the merger of 1st Colonial was effective as of January 1, 2025. The supplemental unaudited pro forma financial information included in the table below is based on various estimates and is presented for informational purposes only and does not indicate the results of operations of the combined company that would have been achieved for the periods presented had the transaction been completed as of the date indicated or that may be achieved in the future. (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net interest income after provision for credit losses - loans $ 64,752 $ 52,203 $ 122,817 $ 100,827 Noninterest income 10,586 7,941 20,607 14,058 Noninterest expense 47,767 53,115 105,863 88,980 Net income $ 21,691 $ 7,015 $ 29,666 $ 22,415 William Penn Acquisition On April 30, 2025, Mid Penn completed its acquisition of 100 % of the outstanding shares of William Penn through the merger of William Penn with and into Mid Penn. This transaction included the acquisition of 12 branches, further expanding Mid Penn's presence in the Philadelphia region and surrounding counties in Pennsylvania and New Jersey. Mid Penn recognized total goodwill of $ 6.9 million, and a core deposit intangible asset of $ 9.0 million as a result of this acquisition. This is calculated as the excess of consideration exchanged and liabilities assumed compared to the fair value of identifiable assets acquired. Goodwill is primarily comprised of expected synergies and an assembled workforce. Goodwill is not deductible for income tax purposes. The purchase accounting for the transaction was finalized as of December 31, 2025, and no material measurement adjustments were recorded during the six months ended June 30, 2026. Charis Insurance Group, Inc. Acquisition On May 12, 2025, Mid Penn acquired the insurance business and related accounts of Charis Insurance Group, Inc. (Charis Insurance Group), which provides business, home and auto insurance throughout central and southern Pennsylvania, for a cash purchase price of $ 4.0 million. Mid Penn recognized total goodwill of $ 1.6 million, which is calculated as the excess of consideration exchanged and liabilities assumed compared to the fair value of identifiable assets acquired. 15 Table of Contents MID PENN BANCORP, INC. Note 3 - Investment Securities AFS Securities As of June 30, 2026, the fair value of AFS securities totaled $ 499.8 million. As of June 30, 2026, no securities were identified that violated credit loss triggers; therefore, no discounted cash flow analysis was required. As of June 30, 2026, the Corporation recorded no allowance for credit losses on any available-for-sale debt securities. Accrued interest receivable is excluded from the estimate of credit losses for AFS securities. As of June 30, 2026, accrued interest receivable totaled $ 2.2 million for AFS securities, and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet. HTM Securities As of June 30, 2026, Mid Penn’s HTM securities totaled $ 372.9 million. The Corporation primarily held highly rated HTM securities, including taxable and tax-exempt securities issued mainly by the U.S government, state governments, and political subdivisions. As of June 30, 2026, the majority of Mid Penn's HTM securities were rated investment grade, generally A1/BBB by Moody's and/or Standard & Poor's ratings services. Credit ratings of HTM securities, which are a key factor in estimating expected credit losses, are reviewed on a quarterly basis. Management has the intent and ability to hold these securities to maturity. As of June 30, 2026, there were no HTM securities that were past due 30 days or more as to principal or interest payments. Additionally, Mid Penn had no HTM securities classified as nonaccrual as of June 30, 2026. As of June 30, 2026, the Corporation recorded no allowance for credit losses on any held-to-maturity debt securities. Accrued interest receivable is excluded from the estimate of credit losses for HTM securities. As of June 30, 2026, accrued interest receivable totaled $ 2.1 million for HTM securities and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet. The following tables set forth the amortized cost and estimated fair value of investment securities for the periods presented: June 30, 2026 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-sale U.S. Treasury and U.S. government agencies $ 17,294 $ — $ 460 $ 16,834 Mortgage-backed U.S. government agencies 441,388 1,800 13,190 429,998 State and political subdivision obligations 4,287 — 497 3,790 Corporate debt securities 50,647 351 1,847 49,151 Total available-for-sale debt securities $ 513,616 $ 2,151 $ 15,994 $ 499,773 Held-to-maturity U.S. Treasury and U.S. government agencies $ 223,550 $ — $ 17,760 $ 205,790 Mortgage-backed U.S. government agencies 29,916 2 3,741 26,177 State and political subdivision obligations 106,950 3 4,022 102,931 Corporate debt securities 12,450 — 1,042 11,408 Total held-to-maturity debt securities 372,866 5 26,565 346,306 Total $ 886,482 $ 2,156 $ 42,559 $ 846,079 16 Table of Contents MID PENN BANCORP, INC. December 31, 2025 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-sale U.S. Treasury and U.S. government agencies $ 19,446 $ — $ 380 $ 19,066 Mortgage-backed U.S. government agencies 361,109 3,788 11,500 353,397 State and political subdivision obligations 4,319 — 485 3,834 Corporate debt securities 41,638 249 1,870 40,017 Total available-for-sale debt securities $ 426,512 $ 4,037 $ 14,235 $ 416,314 Held-to-maturity U.S. Treasury and U.S. government agencies $ 231,980 $ — $ 16,566 $ 215,414 Mortgage-backed U.S. government agencies 32,418 4 3,747 28,675 State and political subdivision obligations 67,441 12 4,043 63,410 Corporate debt securities 15,446 — 1,243 14,203 Total held-to-maturity debt securities 347,285 16 25,599 321,702 Total $ 773,797 $ 4,053 $ 39,834 $ 738,016 Estimated fair values of debt securities are based on quoted market prices, where applicable. If quoted market prices are not available, fair values are based on quoted market prices of instruments of a similar type, credit quality and structure, adjusted for differences between the quoted instruments and the instruments being valued. See "Note 8 - Fair Value Measurement ," for additional information. Investment securities having a fair value of $ 525.4 million as of June 30, 2026 and $ 544.7 million as of December 31, 2025 were pledged primarily to secure public deposits, some Trust department deposit accounts, and certain other borrowings. In accordance with legal provisions for alternatives other than pledging of investments, Mid Penn also obtains letters of credit from the FHLB to secure certain public deposits. These FHLB letter of credit commitments totaled $ 399.6 million as of June 30, 2026 and $ 162.5 million as of December 31, 2025. The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented: (Dollars in thousands) Less Than 12 Months 12 Months or More Total June 30, 2026 Number of Securities Estimated Fair Value Gross Unrealized Losses Number of Securities Estimated Fair Value Gross Unrealized Losses Number of Securities Estimated Fair Value Gross Unrealized Losses Available-for-sale debt securities: U.S. Treasury and U.S. government agencies — $ — $ — 9 $ 16,834 $ 460 9 $ 16,834 $ 460 Mortgage-backed U.S. government agencies 56 337,430 1,335 83 92,568 11,855 139 429,998 13,190 State and political subdivision obligations — — — 8 3,790 497 8 3,790 497 Corporate debt securities 11 29,152 96 12 19,999 1,751 23 49,151 1,847 Total available-for-sale debt securities 67 $ 366,582 $ 1,431 112 $ 133,191 $ 14,563 179 $ 499,773 $ 15,994 Held-to-maturity debt securities: U.S. Treasury and U.S. government agencies 3 $ 5,735 $ 96 128 $ 200,055 $ 17,664 131 $ 205,790 $ 17,760 Mortgage-backed U.S. government agencies 5 885 7 58 25,292 3,734 63 26,177 3,741 State and political subdivision obligations 40 52,194 25 118 50,737 3,997 158 102,931 4,022 Corporate debt securities 2 2,500 — 7 8,908 1,042 9 11,408 1,042 Total held-to-maturity debt securities 50 61,314 128 311 284,992 26,437 361 346,306 26,565 Total 117 $ 427,896 $ 1,559 423 $ 418,183 $ 41,000 540 $ 846,079 $ 42,559 17 Table of Contents MID PENN BANCORP, INC. (Dollars in thousands) Less Than 12 Months 12 Months or More Total December 31, 2025 Number of Securities Estimated Fair Value Gross Unrealized Losses Number of Securities Estimated Fair Value Gross Unrealized Losses Number of Securities Estimated Fair Value Gross Unrealized Losses Available-for-sale securities: U.S. Treasury and U.S. government agencies — $ — $ — 10 $ 19,066 $ 380 10 $ 19,066 $ 380 Mortgage-backed U.S. government agencies 27 208,676 141 91 144,721 11,359 118 353,397 11,500 State and political subdivision obligations 1 24 — 8 3,810 485 9 3,834 485 Corporate debt securities 8 18,573 64 14 21,444 1,806 22 40,017 1,870 Total available-for-sale securities 36 $ 227,273 $ 205 $ 123 $ 189,041 $ 14,030 159 $ 416,314 $ 14,235 Held-to-maturity securities: U.S. Treasury and U.S. government agencies — $ — $ — 137 $ 215,414 $ 16,566 137 $ 215,414 $ 16,566 Mortgage-backed U.S. government agencies 4 423 — 60 28,252 3,747 64 28,675 3,747 State and political subdivision obligations 12 4,401 2 139 59,009 4,041 151 63,410 4,043 Corporate debt securities 3 3,368 128 9 10,835 1,115 12 14,203 1,243 Total held-to-maturity securities 19 8,192 130 345 313,510 25,469 364 321,702 25,599 Total 55 $ 235,465 $ 335 468 $ 502,551 $ 39,499 523 $ 738,016 $ 39,834 As of June 30, 2026 and December 31, 2025, the majority of the unrealized losses on securities in an unrealized loss position were attributable to U.S. Treasury and U.S. government agencies, and mortgage-backed U.S. government agencies. The Corporation evaluates debt securities for credit losses in accordance with ASC 326. Mid Penn had no securities considered by management to be credit related losses as of June 30, 2026 and December 31, 2025, and did not record any securities losses in the respective periods ended on these dates. Mid Penn does not consider the securities with unrealized losses on the respective dates to be credit related losses as the unrealized losses were deemed to be temporary changes in value related to market movements in interest yields at various periods similar to the maturity dates of holdings in the investment portfolio, and not reflective of an erosion of credit quality. There were no gross realized gains or losses on the sale of AFS securities as of June 30, 2026 and December 31, 2025, respectively. The table below illustrates the contractual maturity of debt investment securities at amortized cost and estimated fair value. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties. (In thousands) Available-for-sale Held-to-maturity June 30, 2026 Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 12,409 $ 12,242 $ 68,961 $ 68,762 Due after 1 year but within 5 years 11,397 11,297 170,758 159,585 Due after 5 years but within 10 years 47,578 45,558 94,729 84,353 Due after 10 years 844 678 8,502 7,429 72,228 69,775 342,950 320,129 Mortgage-backed securities 441,388 429,998 29,916 26,177 $ 513,616 $ 499,773 $ 372,866 $ 346,306 18 Table of Contents MID PENN BANCORP, INC. Note 4 - Loans and Allowance for Credit Losses - Loans Loans, net of unearned income, are summarized as follows by portfolio segment: (In thousands) June 30, 2026 December 31, 2025 Commercial real estate CRE Nonowner Occupied $ 1,599,855 $ 1,364,040 CRE Owner Occupied 830,915 718,864 Multifamily 446,216 419,267 Farmland 240,517 227,816 Total Commercial real estate 3,117,503 2,729,987 Commercial and industrial 728,431 720,031 Construction Residential Construction 87,934 85,299 Other Construction 330,502 310,390 Total Construction 418,436 395,689 Residential mortgage 1-4 Family 1st Lien 574,948 417,421 1-4 Family Rental 470,501 410,965 HELOC and Junior Liens 297,241 178,116 Total Residential Mortgage 1,342,690 1,006,502 Consumer 10,109 10,629 Total loans $ 5,617,169 $ 4,862,838 Total loans are stated at the amount of unpaid principal, adjusted for net deferred fees and costs. Net deferred loan fees were $ 3.1 million and $ 2.8 million as of June 30, 2026 and December 31, 2025, respectively. Accrued interest receivable is not included in the amortized cost basis of Mid Penn's loans. Accrued interest receivable for loans totaled $ 28.5 million and $ 25.7 million as of June 30, 2026 and December 31, 2025, respectively, with no related ACL and was reported in other assets on the accompanying Consolidated Balance Sheet. Past Due and Nonaccrual Loans The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The classes of the loan portfolio summarized by the past due status as of June 30, 2026 and December 31, 2025, are summarized as follows: 19 Table of Contents MID PENN BANCORP, INC. (In thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Loans Receivable > 90 Days and Accruing June 30, 2026 Commercial real estate CRE Nonowner Occupied $ 199 $ 1,767 $ 3,947 $ 5,913 $ 1,593,942 $ 1,599,855 $ — CRE Owner Occupied 2,650 32 3,775 6,457 824,458 830,915 — Multifamily — — 287 287 445,929 446,216 — Farmland — 79 1,459 1,538 238,979 240,517 — Total Commercial real estate 2,849 1,878 9,468 14,195 3,103,308 3,117,503 — Commercial and industrial 3,157 419 12,404 15,980 712,451 728,431 — Construction Residential Construction 340 — — 340 87,594 87,934 — Other Construction 1,108 — — 1,108 329,394 330,502 — Total Construction 1,448 — — 1,448 416,988 418,436 — Residential mortgage 1-4 Family 1st Lien 778 381 1,381 2,540 572,408 574,948 213 1-4 Family Rental 977 — 273 1,250 469,251 470,501 — HELOC and Junior Liens 2,085 793 1,609 4,487 292,754 297,241 — Total Residential Mortgage 3,840 1,174 3,263 8,277 1,334,413 1,342,690 213 Consumer 5 3 12 20 10,089 10,109 — Total $ 11,299 $ 3,474 $ 25,147 $ 39,920 $ 5,577,249 $ 5,617,169 $ 213 (In thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Loans Receivable > 90 Days and Accruing December 31, 2025 Commercial real estate CRE Nonowner Occupied $ 278 $ — $ 5,144 $ 5,422 $ 1,358,618 $ 1,364,040 $ — CRE Owner Occupied 2,022 58 901 2,981 715,883 718,864 — Multifamily — 196 — 196 419,071 419,267 — Farmland — 1,581 46 1,627 226,189 227,816 — Total Commercial real estate 2,300 1,835 6,091 10,226 2,719,761 2,729,987 — Commercial and industrial 3,740 1,006 6,804 11,550 708,481 720,031 — Construction Residential Construction — — — — 85,299 85,299 — Other Construction 230 — — 230 310,160 310,390 — Total Construction 230 — — 230 395,459 395,689 — Residential mortgage 1-4 Family 1st Lien 4,192 165 484 4,841 412,580 417,421 — 1-4 Family Rental 812 1,054 1,047 2,913 408,052 410,965 — HELOC and Junior Liens 1,474 486 1,815 3,775 174,341 178,116 — Total Residential Mortgage 6,478 1,705 3,346 11,529 994,973 1,006,502 — Consumer 7 14 — 21 10,608 10,629 — Total $ 12,755 $ 4,560 $ 16,241 $ 33,556 $ 4,829,282 $ 4,862,838 $ — 20 Table of Contents MID PENN BANCORP, INC. Loans are placed on nonaccrual status when management determines that the full repayment of principal and collection of interest according to contractual terms is no longer likely, generally when the loan becomes 90 days or more past due. Nonaccrual loans totaled $ 213 thousand, and there were no loans greater than 90 days past due and still accruing as of June 30, 2026 and December 31, 2025, respectively. Nonaccrual loans by loan portfolio class, including loans acquired with credit deterioration, as of June 30, 2026 and December 31, 2025 are summarized as follows: June 30, 2026 December 31, 2025 (In thousands) With a Related Allowance Without a Related Allowance Total With a Related Allowance Without a Related Allowance Total Commercial real estate CRE Nonowner Occupied $ 1,686 $ 2,261 $ 3,947 $ 2,873 $ 2,271 $ 5,144 CRE Owner Occupied 509 3,443 3,952 509 2,043 2,552 Multifamily — 405 405 — 131 131 Farmland 373 1,166 1,539 — 46 46 Total Commercial real estate 2,568 7,275 9,843 3,382 4,491 7,873 Commercial and industrial 10,788 1,994 12,782 10,519 398 10,917 Residential mortgage 1-4 Family 1st Lien — 3,468 3,468 24 1,188 1,212 1-4 Family Rental — 314 314 146 949 1,095 HELOC and Junior Liens 104 1,897 2,001 — 1,840 1,840 Total Residential Mortgage 104 5,679 5,783 170 3,977 4,147 Consumer — 12 12 — 14 14 Total loans $ 13,460 $ 14,960 $ 28,420 $ 14,071 $ 8,880 $ 22,951 The amount of interest income recognized on nonaccrual loans was approximately $ 2.4 million and $ 674 thousand during the three months ended June 30, 2026 and 2025, respectively. During the six months ended June 30, 2026 and 2025, the amount of interest income recognized on nonaccrual loans was approximately $ 2.5 million and $ 801 thousand, respectively. Credit Quality Indicators Mid Penn categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. On a minimum of a quarterly basis, Mid Penn analyzes loans individually to classify the loans as to their credit risk. The following table presents risk ratings by loan portfolio segment and origination year, which is the year of origination or renewal. PASS - This type of classification consists of 6 subcategories: Nominal Risk / Pass - This loan classification is a credit extension of the highest quality. Moderate Risk / Pass - This type of classification has strong financial ratios, substantial debt capacity, and low leverage with a very favorable comparison to industry peers or better than average improving trends. Good Acceptable Risk / Pass - This type of classification is a reasonable credit risk having financial ratios on par with its peers and demonstrates slightly improving trends over time; the Borrower lists good quality assets with relatively low leverage and ample debt capacity. Average Acceptable Risk / Pass - This type of classification has financial ratios and assets that are of above average quality; however, the leverage is worse than average compared to industry standards; the Borrower should have a good repayment history and possess consistent earnings with some growth. 21 Table of Contents MID PENN BANCORP, INC. Marginally Acceptable Risk / Pass - This type of classification has financial ratios consistent with industry averages, assets of average quality with ascertainable values, acceptable leverage, moderate capital assets and an acceptable reliance on trade debt; however, the Borrower demonstrates marginally adequate earnings, cash flow and debt service plus positive trends. Weak/Monitor Risk (Watch list) / Pass - This type of classification has financial ratios that are slightly below standard industry averages and assets are below average quality with unstable values; fixed assets could be near or at the end of their useful life and liabilities may not match the asset structure. SPECIAL MENTION - These credits have developing weaknesses deserving extra attention from the lender and lending management. They are currently protected, but potentially weak. The weakness may be cash flow, leverage, liquidity, management, industry or other factors which may, if not checked or corrected, weaken the asset or inadequately protect the Bank’s credit position at some future date. SUBSTANDARD - These credit extensions also have well defined weaknesses, which are inadequately protected by the current worth and debt service capacity of the Borrower or the collateral pledged, if any. The repayment of principal and interest as originally intended can be jeopardized by defined weaknesses related to adverse financial, managerial, economic, market or political conditions. DOUBTFUL - These credits have definite weaknesses inherent in Substandard loans with added characteristics that are severe enough to make further collection in full highly questionable and improbable based on the current trends. LOSS - These loans are considered uncollectible and no longer a viable asset of the Bank. They lack an identifiable source of repayment based on an inability to generate sufficient cash flow to service their debt. All trends are negative and the damage to the financial condition of the borrower can’t be reversed now or in the near future. The following table presents risk ratings by loan portfolio segment and origination year, which is the year of origination or renewal: June 30, 2026 Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis (In thousands) 2026 2025 2024 2023 2022 Prior Total CRE Nonowner Occupied Pass $ 192,454 $ 174,223 $ 132,305 $ 207,490 $ 366,796 $ 500,719 $ 15,133 $ 1,589,120 Special mention — — 333 — — 333 — 666 Substandard or lower — — — 1,686 — 8,383 — 10,069 Total CRE Nonowner Occupied 192,454 174,223 132,638 209,176 366,796 509,435 15,133 1,599,855 Gross charge-offs — — — ( 498 ) — ( 3 ) — ( 501 ) Current period recoveries — — — — — — — — Net charge-offs — — — ( 498 ) — ( 3 ) — ( 501 ) CRE Owner Occupied Pass 77,592 126,627 59,954 110,219 107,448 306,067 16,292 804,199 Special mention — — 1,568 890 11,337 6,800 — 20,595 Substandard or lower — — — — 1,909 4,212 — 6,121 Total CRE Owner Occupied 77,592 126,627 61,522 111,109 120,694 317,079 16,292 830,915 Gross charge-offs — — — — — — — — Current period recoveries — — 95 — — — — 95 Net charge-offs — — 95 — — — — 95 Multifamily Pass 19,937 41,038 20,891 50,615 161,072 147,252 4,628 445,433 Special mention — — — — — 378 — 378 22 Table of Contents MID PENN BANCORP, INC. Substandard or lower — — 287 — — 118 — 405 Total Multifamily 19,937 41,038 21,178 50,615 161,072 147,748 4,628 446,216 Gross charge-offs — — — — — — — — Current period recoveries — — — — — — — — Net charge-offs — — — — — — — — Farmland Pass 25,984 29,404 21,157 21,985 49,205 74,172 15,089 236,996 Special mention — — — 422 — — — 422 Substandard or lower — — — 373 — 2,606 120 3,099 Total Farmland 25,984 29,404 21,157 22,780 49,205 76,778 15,209 240,517 Gross charge-offs — — — — — — — — Current period recoveries — — — — — — — — Net charge-offs — — — — — — — — Commercial and industrial Pass 49,772 88,755 84,768 54,605 49,340 125,632 237,844 690,716 Special mention — — — 673 3,255 2,743 3,522 10,193 Substandard or lower — — 510 18,503 4,006 3,331 1,172 27,522 Total Commercial and industrial 49,772 88,755 85,278 73,781 56,601 131,706 242,538 728,431 Gross charge-offs — — — — — — — — Current period recoveries — — — 4 — 2 — 6 Net charge-offs — — — 4 — 2 — 6 Residential Construction Pass 20,597 36,346 2,224 11,844 397 — 16,526 87,934 Special mention — — — — — — — — Substandard or lower — — — — — — — — Total Residential Construction 20,597 36,346 2,224 11,844 397 — 16,526 87,934 Gross charge-offs — — — — — — — — Current period recoveries — — — — — — — — Net charge-offs — — — — — — — — Other Construction Pass 22,744 127,559 53,252 49,522 41,743 17,076 18,606 330,502 Special mention — — — — — — — — Substandard or lower — — — — — — — — Total Other Construction 22,744 127,559 53,252 49,522 41,743 17,076 18,606 330,502 Gross charge-offs — — — — — — — — Current period recoveries — — — — — — — — Net charge-offs — — — — — — — — 1-4 Family 1st Lien Performing 44,544 21,318 28,048 57,731 46,636 367,874 1,646 567,797 Nonperforming 3,566 1,376 324 100 — 1,785 — 7,151 Total 1-4 Family 1st Lien 48,110 22,694 28,372 57,831 46,636 369,659 1,646 574,948 Gross charge-offs — — — — — — — — Current period recoveries — — — — — 5 — 5 Net recoveries — — — — — 5 — 5 1-4 Family Rental Performing 40,302 49,615 23,495 44,515 102,081 198,889 7,967 466,864 Nonperforming — — — — 336 3,301 — 3,637 Total 1-4 Family Rental 40,302 49,615 23,495 44,515 102,417 202,190 7,967 470,501 23 Table of Contents MID PENN BANCORP, INC. Gross charge-offs — — — — — ( 13 ) — ( 13 ) Current period recoveries — — — — — 13 — 13 Net charge-offs — — — — — — — — HELOC and Junior Liens Performing 4,279 10,811 5,882 18,376 8,778 24,064 220,691 292,881 Nonperforming — — 1,128 89 138 2,004 1,001 4,360 Total HELOC and Junior Liens 4,279 10,811 7,010 18,465 8,916 26,068 221,692 297,241 Gross charge-offs — — — ( 48 ) — — — ( 48 ) Current period recoveries — — — — — — — — Net charge-offs — — — ( 48 ) — — — ( 48 ) Consumer Performing 4,102 930 1,006 702 237 658 2,449 10,084 Nonperforming — — — 25 — — — 25 Total Consumer 4,102 930 1,006 727 237 658 2,449 10,109 Gross charge-offs — — — — — ( 652 ) — ( 652 ) Current period recoveries — — — — — 24 — 24 Net charge-offs — — — — — ( 628 ) — ( 628 ) Total Pass $ 409,080 $ 623,952 $ 374,551 $ 506,280 $ 776,001 $ 1,170,918 $ 324,118 $ 4,184,900 Special mention — — 1,901 1,985 14,592 10,254 3,522 32,254 Substandard or lower — — 797 20,562 5,915 18,650 1,292 47,216 Performing 93,227 82,674 58,431 121,324 157,732 591,485 232,753 1,337,626 Nonperforming 3,566 1,376 1,452 214 474 7,090 1,001 15,173 Total $ 505,873 $ 708,002 $ 437,132 $ 650,365 $ 954,714 $ 1,798,397 $ 562,686 $ 5,617,169 24 Table of Contents MID PENN BANCORP, INC. December 31, 2025 Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis (In thousands) 2025 2024 2023 2022 2021 Prior Total CRE Nonowner Occupied Pass $ 156,421 $ 98,728 $ 188,873 $ 358,610 $ 156,310 $ 375,646 $ 16,109 $ 1,350,697 Special mention — — 1,698 — — 90 — 1,788 Substandard or lower — — 1,540 — — 10,015 — 11,555 Total CRE Nonowner Occupied 156,421 98,728 192,111 358,610 156,310 385,751 16,109 1,364,040 Gross charge-offs — — — ( 691 ) — ( 394 ) — ( 1,085 ) Current period recoveries — — — 301 — 4 — 305 Net charge-offs — — — ( 390 ) — ( 390 ) — ( 780 ) CRE Owner Occupied Pass 119,632 65,978 97,419 105,690 64,478 239,464 16,370 709,031 Special mention — — 922 1,576 172 2,939 — 5,609 Substandard or lower — 181 — 1,888 177 1,978 — 4,224 Total CRE Owner Occupied 119,632 66,159 98,341 109,154 64,827 244,381 16,370 718,864 Gross charge-offs — ( 346 ) — — — — — ( 346 ) Net charge-offs — ( 346 ) — — — — — ( 346 ) Multifamily Pass 37,788 4,816 62,305 156,236 68,254 86,424 3,271 419,094 Special mention — — — — — 42 — 42 Substandard or lower — — — — — 131 — 131 Total Multifamily 37,788 4,816 62,305 156,236 68,254 86,597 3,271 419,267 Farmland Pass 29,858 23,228 24,273 51,055 36,651 44,326 15,255 224,646 Special mention — — 428 — — — — 428 Substandard or lower — — 397 — 2,299 46 — 2,742 Total Farmland 29,858 23,228 25,098 51,055 38,950 44,372 15,255 227,816 Commercial and industrial Pass 96,562 89,541 70,773 64,532 41,663 90,534 240,497 694,102 Special mention — — — 87 — 1,495 — 1,582 Substandard or lower — 115 15,663 500 1,249 1,299 5,521 24,347 Total Commercial and industrial 96,562 89,656 86,436 65,119 42,912 93,328 246,018 720,031 Gross charge-offs — — — — — ( 294 ) — ( 294 ) Current period recoveries — — 1 — — 8 — 9 Net charge-offs — — 1 — — ( 286 ) — ( 285 ) Residential construction Pass 29,399 27,382 17,469 351 — — 10,698 85,299 Total Residential construction 29,399 27,382 17,469 351 — — 10,698 85,299 Other construction Pass 64,396 79,617 74,890 42,758 7,790 12,387 28,552 310,390 Total Other construction 64,396 79,617 74,890 42,758 7,790 12,387 28,552 310,390 1-4 Family 1st Lien Performing 57,120 28,810 59,920 49,052 38,466 179,375 1,489 414,232 Nonperforming — — 100 48 — 3,041 — 3,189 Total 1-4 Family 1st Lien 57,120 28,810 60,020 49,100 38,466 182,416 1,489 417,421 25 Table of Contents MID PENN BANCORP, INC. Current period recoveries — — — — — 90 — 90 Net recoveries — — — — — 90 — 90 1-4 Family Rental Performing 46,766 22,067 45,885 99,841 59,781 131,001 2,154 407,495 Nonperforming — — 292 — 1,572 1,606 — 3,470 Total 1-4 Family Rental 46,766 22,067 46,177 99,841 61,353 132,607 2,154 410,965 HELOC and Junior Liens Performing 8,403 5,050 17,397 8,447 4,815 14,180 115,728 174,020 Nonperforming — 1,151 93 152 — 1,699 1,001 4,096 Total HELOC and Junior Liens 8,403 6,201 17,490 8,599 4,815 15,879 116,729 178,116 Consumer Performing 5,143 1,169 829 276 265 702 2,216 10,600 Nonperforming — — 29 — — — — 29 Total Consumer 5,143 1,169 858 276 265 702 2,216 10,629 Gross charge-offs — — — — — ( 98 ) — ( 98 ) Current period recoveries — — — — — 55 — 55 Net charge-offs — — — — — ( 43 ) — ( 43 ) Total Pass $ 534,056 $ 389,290 $ 536,002 $ 779,232 $ 375,146 $ 848,781 $ 330,752 $ 3,793,259 Special mention — — 3,048 1,663 172 4,566 — 9,449 Substandard or lower — 296 17,600 2,388 3,725 13,469 5,521 42,999 Performing 117,432 57,096 124,031 157,616 103,327 325,258 121,587 1,006,347 Nonperforming — 1,151 514 200 1,572 6,346 1,001 10,784 Total $ 651,488 $ 447,833 $ 681,195 $ 941,099 $ 483,942 $ 1,198,420 $ 458,861 $ 4,862,838 Mid Penn had no loans classified as "doubtful" as of June 30, 2026 and December 31, 2025. There was $ 1.2 million and $ 567 thousand in mortgage loans for which formal foreclosure proceedings were in process at June 30, 2026 and December 31, 2025, respectively. Collateral-Dependent Loans A financial asset is considered to be collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For all classes of financial assets deemed collateral-dependent, Mid Penn elected the practical expedient to estimate expected credit losses based on the collateral’s fair value less cost to sell. In most cases, Mid Penn records a partial charge-off to reduce the loan’s carrying value to the collateral’s fair value less cost to sell. Substantially all of the collateral supporting collateral-dependent financial assets consists of various types of real estate, including residential properties; commercial properties such as retail centers, office buildings, and lodging; agriculture land; and vacant land. Total collateral-dependent loans as of June 30, 2026 were $ 28.4 million. Allowance for Credit Losses Mid Penn’s ACL - loans methodology follows guidance within FASB ASC Subtopic 326-20. The ACL - loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Credit quality within the loan portfolio is continuously monitored by management and is reflected within the ACL - loans. The ACL - loans is an estimate of expected losses inherent within Mid Penn’s existing loan portfolio. The ACL - loans is adjusted through the PCL and reduced by the charge off of loan amounts, net of recoveries. 26 Table of Contents MID PENN BANCORP, INC. The ACL for individual loans, such as nonaccrual and PCD, that do not share risk characteristics with other loans is measured as the difference between the discounted value of expected future cash flows, based on the effective interest rate at origination, and the amortized cost basis of the loan, or the net realizable value. The ACL is the difference between the loan’s net realizable value and its amortized cost basis (net of previous charge-offs and deferred loan fees and costs), except for collateral-dependent loans. A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The expected credit loss for collateral-dependent loans is measured as the difference between the amortized cost basis of the loan and the fair value of the collateral, adjusted for the estimated cost to sell. Fair value estimates for collateral-dependent loans are derived from appraised values based on the current market value or the "as is" value of the collateral, normally from recently received and reviewed appraisals. Current appraisals are ordered on a regular basis based on the inspection date or more often if market conditions necessitate. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by Mid Penn’s Real Estate Administration Department to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal. If the calculated expected credit loss is determined to be permanent or not recoverable, the amount of the expected credit loss is charged off. Mid Penn may also purchase loans or acquire loans through a business combination. At the purchase or acquisition date, loans are evaluated to determine whether there has been more than insignificant credit deterioration since origination. Loans that have experienced more than insignificant credit deterioration since origination are referred to as PCD loans. At the purchase or acquisition date, the amortized cost basis of PCD loans includes the purchase price and the initial estimate of credit losses. Effective January 1, 2026, the Corporation adopted ASU 2025-08 for applicable purchased seasoned loans ("PSL loans"), under which an initial allowance for credit losses is recognized at acquisition and incorporated into the initial amortized cost basis of the loans, rather than recognized through a Day 1 provision expense. The impact of adoption is reflected in the ACL rollforward in this Note and is further discussed in "Note 1 - Summary of Significant Accounting Policies". Loans are charged off against the ACL, with any subsequent recoveries credited back to the ACL-loans account. Expected recoveries may not exceed the aggregate of amounts previously charged off and expected to be charged off. 27 Table of Contents MID PENN BANCORP, INC. The following tables present the activity in the ACL - loans by portfolio segment for the three and six months ended June 30, 2026 and the three and six months ended June 30, 2025: (In thousands) Balance as of March 31, 2026 Initial ACL - PCD Loans Initial ACL - PSL Loans Charge-offs Recoveries Net Loans (Charged off) Recovered Provision/(Benefit) for Credit Losses Balance as of June 30, 2026 Commercial Real Estate CRE Nonowner Occupied 10,207 — — ( 2 ) — ( 2 ) 595 10,800 CRE Owner Occupied 8,274 — — — 2 2 ( 1,634 ) 6,642 Multifamily 1,542 — — — — — ( 68 ) 1,474 Farmland 2,154 — — — — — 371 2,525 Commercial and industrial 9,856 — — — 6 6 1,036 10,898 Construction Residential Construction 431 — — — — — ( 13 ) 418 Other Construction 1,676 — — — — — ( 88 ) 1,588 Residential Mortgage 1-4 Family 1st Lien 3,695 — — — 3 3 48 3,746 1-4 Family Rental 2,171 — — — 13 13 ( 21 ) 2,163 HELOC and Junior Liens 1,047 — — ( 48 ) — ( 48 ) 355 1,354 Consumer 52 — — ( 11 ) 15 4 ( 24 ) 32 Total 41,105 — — ( 61 ) 39 ( 22 ) 557 41,640 (In thousands) Balance as of December 31, 2025 Initial ACL - PCD Loans (1) Initial ACL - PSL Loans (2) Charge-offs Recoveries Net Loans (Charged off) Recovered Provision/(Benefit) for Credit Losses Balance as of June 30, 2026 Commercial Real Estate CRE Nonowner Occupied 9,917 — 269 ( 501 ) — ( 501 ) 1,115 10,800 CRE Owner Occupied 6,095 183 552 — 95 95 ( 283 ) 6,642 Multifamily 1,443 — 87 — — — ( 56 ) 1,474 Farmland 2,118 — 1 — — — 406 2,525 Commercial and industrial 9,259 547 599 — 6 6 487 10,898 Construction Residential Construction 477 — 54 — — — ( 113 ) 418 Other Construction 1,464 — 76 — — — 48 1,588 Residential Mortgage 1-4 Family 1st Lien 2,434 92 1,304 — 5 5 ( 89 ) 3,746 1-4 Family Rental 2,295 — 157 ( 13 ) 13 — ( 289 ) 2,163 HELOC and Junior Liens 559 155 337 ( 48 ) — ( 48 ) 351 1,354 Consumer 30 — 2 ( 652 ) 24 ( 628 ) 628 32 Total 36,091 977 3,438 ( 1,214 ) 143 ( 1,071 ) 2,205 41,640 (1) Includes a $ 977 thousand initial allowance on PCD loans acquired in the 1st Colonial acquisition on February 27, 2026. (2) Includes a $ 3.4 million initial allowance on PSL loans acquired in the 1st Colonial acquisition on February 27, 2026. 28 Table of Contents MID PENN BANCORP, INC. (In thousands) Balance as of March 31, 2025 Initial ACL - PCD Loans Charge-offs Recoveries Net Loans (Charged off) Recovered Provision/(Benefit) for Credit Losses (1) Balance as of June 30, 2025 Commercial Real Estate CRE Nonowner Occupied $ 10,380 $ 89 $ ( 691 ) $ 1 $ ( 690 ) $ 819 $ 10,598 CRE Owner Occupied 5,722 100 — — — 608 6,430 Multifamily 3,324 31 — — — ( 1,377 ) 1,978 Farmland 2,075 — — — — 23 2,098 Commercial and industrial 7,864 36 ( 203 ) 3 ( 200 ) 402 8,102 Construction Residential Construction 830 — — — — 128 958 Other Construction 1,899 — — — — 537 2,436 Residential Mortgage 1-4 Family 1st Lien 1,582 37 — 83 83 494 2,196 1-4 Family Rental 1,740 47 — — — 471 2,258 HELOC and Junior Liens 404 3 — — — 113 520 Consumer 18 — ( 15 ) 11 ( 4 ) 27 41 Total $ 35,838 $ 343 $ ( 909 ) $ 98 $ ( 811 ) $ 2,245 $ 37,615 (In thousands) Balance as of December 31, 2024 Initial ACL - PCD Loans Charge-offs Recoveries Net Loans (Charged off) Recovered Provision/(Benefit) for Credit Losses (1) Balance as of June 30, 2025 Commercial Real Estate CRE Nonowner Occupied $ 11,047 $ 89 $ ( 691 ) $ 2 $ ( 689 ) $ 151 $ 10,598 CRE Owner Occupied 5,243 100 — — — 1,087 6,430 Multifamily 3,432 31 — — — ( 1,485 ) 1,978 Farmland 1,932 — — — — 166 2,098 Commercial and industrial 7,122 36 ( 203 ) 9 ( 194 ) 1,138 8,102 Construction Residential Construction 931 — — — — 27 958 Other Construction 2,131 — — — — 305 2,436 Residential Mortgage 1-4 Family 1st Lien 1,503 37 — 85 85 571 2,196 1-4 Family Rental 1,756 47 — — — 455 2,258 HELOC and Junior Liens 392 3 — — — 125 520 Consumer 25 — ( 30 ) 20 ( 10 ) 26 41 Total $ 35,514 $ 343 $ ( 924 ) $ 116 $ ( 808 ) $ 2,566 $ 37,615 (1) Includes a $ 2.3 million initial provision on non-PCD loans acquired in the William Penn acquisition. 29 Table of Contents MID PENN BANCORP, INC. Modifications to Borrowers Experiencing Financial Difficulty From time to time, we may modify certain loans to borrowers who are experiencing financial difficulty. In some cases, these modifications may result in new loans. Loan modifications to borrowers experiencing financial difficulty may be in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, or a term extension, or a combination thereof, among other things. Information related to loans modified for the three and six months ended June 30, 2026, whereby the borrower was experiencing financial difficulty at the time of modification, is set forth in the following table: (Dollars in thousands) Interest Only Term Extension Combination: Interest Only and Term Extension Total % of Total Class of Financing Receivable Three months ended June 30, 2026 Commercial real estate CRE Nonowner Occupied — — 251 251 0.02 % Total Commercial real estate — — 251 251 0.01 % Residential mortgage 1-4 Family Rental — — 1,059 1,059 0.23 % Total Residential Mortgage — — 1,059 1,059 0.08 % Consumer — — — — — % Total $ — $ — $ 1,310 $ 1,310 (Dollars in thousands) Interest Only Term Extension Combination: Interest Only and Term Extension Total % of Total Class of Financing Receivable Six months ended June 30, 2026 Commercial real estate CRE Nonowner Occupied $ — $ — $ 251 $ 251 0.02 % Total Commercial real estate $ — $ — $ 251 $ 251 0.01 % Commercial and industrial $ — $ 87 $ — $ 87 0.01 % Residential mortgage 1-4 Family Rental — — 1,059 1,059 0.23 % Total Residential Mortgage — — 1,059 1,059 0.08 % Total $ — $ 87 $ 1,310 $ 1,397 There were no loan modifications to borrowers experiencing financial difficulty for the three and six months ended June 30, 2025. The financial effects of the loan modifications reduced the monthly payment amounts for the borrower and the term extensions in the table above added a weighted-average of 2.0 years to the life of the loan, which also reduced the monthly payment amounts for the borrower. As of June 30, 2026, there were no defaults on loans modified to borrowers experiencing financial difficulty within the twelve months following modification. 30 Table of Contents MID PENN BANCORP, INC. Note 5 - Deposits Deposits consisted of the following as of June 30, 2026 and December 31, 2025: (Dollars in thousands) June 30, 2026 % of Total Deposits December 31, 2025 % of Total Deposits Noninterest-bearing demand deposits $ 973,371 16.4 % $ 834,013 16.0 % Interest-bearing demand deposits 1,607,406 27.0 % 1,278,940 24.5 % Money market 1,264,632 21.2 % 1,226,171 23.5 % Savings 427,538 7.2 % 324,064 6.2 % Total demand and savings 4,272,947 71.8 % 3,663,188 70.2 % Time 1,680,350 28.2 % 1,551,475 29.8 % Total deposits $ 5,953,297 100.0 % $ 5,214,663 100.0 % The scheduled maturities of time deposits at June 30, 2026 were as follows: Time Deposits (In thousands) Less than $250,000 $250,000 or more Maturing in 2026 $ 857,160 $ 331,069 Maturing in 2027 333,182 82,218 Maturing in 2028 36,193 5,920 Maturing in 2029 16,625 889 Maturing in 2030 6,991 686 Maturing thereafter 8,249 1,168 $ 1,258,400 $ 421,950 Mid Penn had $ 135.0 million and $ 97.5 million of brokered certificates of deposits as of June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026 and December 31, 2025, Mid Penn had $ 103.3 million and $ 83.2 million, respectively, of Certificate of Deposit Account Registry ("CDAR") deposits. 31 Table of Contents MID PENN BANCORP, INC. Note 6 - Derivative Financial Instruments Mid Penn manages its exposure to certain interest rate risks through the use of derivative financial instruments; however, none are entered into for speculative purposes. During the three months ended June 30, 2026, Mid Penn had outstanding derivative contracts designated as hedges. Mid Penn’s free-standing derivative financial instruments are required to be carried at their fair value on the Consolidated Balance Sheets. Loan-level Interest Rate Swaps Mid Penn enters into loan-level interest rate swaps with certain qualifying commercial loan customers to meet their interest rate risk management needs. Mid Penn simultaneously enters into loan-level interest rate swaps with dealer counterparties, with identical notional amounts and terms. The net result of the offsetting customer and dealer counterparty swap agreements is that the customer pays a fixed rate of interest, while Mid Penn receives a floating rate. Mid Penn’s loan-level interest rate swaps are considered derivatives but are not accounted for using hedge accounting. These transactions are structured as back-to-back arrangements with offsetting terms; however, the Corporation remains exposed to credit risk associated with both the customer and dealer counterparties. Information related to loan-level interest rate swaps is set forth in the following table: (Dollars in thousands) June 30, 2026 December 31, 2025 Loan-level interest rate swaps Notional amount $ 377,297 $ 287,251 Estimated fair value in Other Assets $ 7,565 $ 8,796 Estimated fair value in Other Liabilities $ 7,565 $ 8,796 Cash Flow Hedges of Interest Rate Risk Mid Penn’s objectives in using interest rate derivatives are to reduce volatility in net interest income and to manage its exposure to interest rate movements. To accomplish this objective, Mid Penn primarily uses derivatives designed as cash flow hedges as part of its interest rate risk management strategy. Cash Flow Hedges of Brokered Certificates of Deposit: Mid Penn designated an interest rate swap as a cash flow hedge for certain brokered certificates of deposit. The interest rate swap was terminated during the three months ended June 30, 2026. (Dollars in thousands) June 30, 2026 December 31, 2025 Cash flow hedges Notional amount $ — $ 75,000 Weighted-average remaining term (years) — 0.84 Pay fixed rate (weighted-average) — % 3.81 % Receive variable rate (weighted average) — % 3.52 % Estimated fair value (1) $ — $ 211 (1) Estimated fair value, net of accrued interest receivable, is disclosed in Other Assets on the Consolidated Balance Sheet. 32 Table of Contents MID PENN BANCORP, INC. Cash Flow Hedge of Variable-Rate Loans: During the three months ended June 30, 2026, Mid Penn designated an interest rate floor as a cash flow hedge of forecasted interest cash flows associated on certain variable-rate loans. (Dollars in thousands) June 30, 2026 December 31, 2025 Cash flow hedges Notional amount $ 200,000 $ — Weighted-average remaining term (years) 2.92 — Floor strike rate (weighted-average) 3.50 % — % Underlying variable rate (weighted-average) 3.86 % — % Estimated fair value (1) $ 1,550 $ — (1) Estimated fair value, net of accrued interest receivable, is disclosed in Other Assets on the Consolidated Balance Sheet. For derivatives designated and qualifying as cash flow hedges of interest rate risk, the unrealized gain or loss is recorded in AOCI and subsequently reclassified into interest income in the same period during which the hedged transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest income as interest payments are made on Mid Penn’s variable-rate liabilities. During the next twelve months, Mid Penn estimates that an additional $ 622 thousand will be reclassified to interest expense. Note 7 - Accumulated Other Comprehensive (Loss)/Income The components of accumulated other comprehensive (loss)/income, net of taxes, are as follows: (In thousands) Unrealized Loss on Securities Unrealized Holding Losses on Interest Rate Derivatives used in Cash Flow Hedges Defined Benefit Plans Total Balance as of March 31, 2026 $ ( 8,917 ) $ ( 62 ) $ 822 $ ( 8,157 ) OCI before reclassifications ( 872 ) ( 103 ) ( 10 ) ( 985 ) Amounts reclassified from AOCI — — — — Balance as of June 30, 2026 $ ( 9,789 ) $ ( 165 ) $ 812 ( 9,142 ) Balance as of December 31, 2025 $ ( 6,971 ) $ ( 191 ) $ 839 $ ( 6,323 ) OCI before reclassifications ( 2,818 ) 26 21 ( 2,771 ) Amounts reclassified from AOCI — — ( 48 ) ( 48 ) Balance as of June 30, 2026 $ ( 9,789 ) $ ( 165 ) $ 812 $ ( 9,142 ) Balance as of March 31, 2025 $ ( 15,233 ) $ 501 $ 569 $ ( 14,163 ) OCI before reclassifications 2,755 ( 338 ) ( 10 ) 2,407 Amounts reclassified from AOCI — — — — Balance as of June 30, 2025 $ ( 12,478 ) $ 163 $ 559 $ ( 11,756 ) Balance as of December 31, 2024 $ ( 18,889 ) $ 1,485 $ 579 $ ( 16,825 ) OCI before reclassifications 6,411 ( 1,322 ) 6 5,095 Amounts reclassified from AOCI — — ( 26 ) ( 26 ) Balance as of June 30, 2025 $ ( 12,478 ) $ 163 $ 559 $ ( 11,756 ) 33 Table of Contents MID PENN BANCORP, INC. Note 8 - Fair Value Measurement Mid Penn uses estimates of fair value in applying various accounting standards for its consolidated financial statements on either a recurring or non-recurring basis. Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. Mid Penn groups its assets and liabilities measured at fair value in three hierarchy levels, based on the observability and transparency of the inputs. The fair value hierarchy is as follows: Level 1 - Inputs that represent quoted prices for identical instruments in active markets. Level 2 - Inputs that represent quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 3 - Inputs that are largely unobservable, as little or no market data exists for the instrument being valued. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. There were no transfers of assets between fair value Level 1 and Level 2 of the fair value hierarchy during the three and six months ended June 30, 2026 or the year ended December 31, 2025. The following tables illustrate the assets and liabilities measured at fair value on a recurring basis and reported on the Consolidated Balance Sheets. June 30, 2026 (In thousands) Level 1 Level 2 Level 3 Total Available-for-sale securities: U.S. Treasury and U.S. government agencies $ — $ 16,834 $ — $ 16,834 Mortgage-backed U.S. government agencies — 429,998 — 429,998 State and political subdivision obligations — 3,790 — 3,790 Corporate debt securities — 49,151 — 49,151 Equity securities 5,387 — — 5,387 Loans held-for-sale — 16,595 — 16,595 Other assets: Derivative assets — 9,115 — 9,115 Other liabilities: Derivative liabilities — 7,565 7,565 December 31, 2025 (In thousands) Level 1 Level 2 Level 3 Total Available-for-sale securities: U.S. Treasury and U.S. government agencies $ — $ 19,066 $ — $ 19,066 Mortgage-backed U.S. government agencies — 353,397 — 353,397 State and political subdivision obligations — 3,834 — 3,834 Corporate debt securities — 40,017 — 40,017 Equity securities 5,446 — — 5,446 Loans held-for-sale — 3,668 — 3,668 Other assets: Derivative assets — 9,007 — 9,007 Other liabilities: Derivative liabilities — 8,796 — 8,796 34 Table of Contents MID PENN BANCORP, INC. The valuation methodologies and assumptions used to estimate the fair value for the items in the preceding tables are as follows: Available for sale investment securities - The fair value of equity and debt securities classified as available-for-sale is determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2). Matrix pricing is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather, relying on the securities’ relationship to other benchmark quoted prices. Equity securities - The fair value of equity securities with readily determinable fair values is recorded on the Consolidated Balance Sheet, with realized and unrealized gains and losses reported in other expense on the Consolidated Statements of Income. These securities consist primarily of publicly traded equity securities and are classified within Level 1 in the fair value hierarchy. Loans held for sale - This category includes mortgage loans held-for-sale that are measured at fair value on a recurring basis. Fair values as of June 30, 2026 were measured as the price that secondary market investors were offering for loans with similar characteristics. Derivative instruments - Interest rate swaps and interest rate floors are measured by alternative pricing sources with reasonable levels of price transparency in markets that are not active. Based on the complex nature of interest rate swap agreements, the markets these instruments trade in are not as active or liquid as those for more mature Level 1 markets. These markets do, however, have comparable, observable inputs in which an alternative pricing source values these assets in order to arrive at a fair market value. These characteristics classify interest rate swap agreements as Level 2. Mortgage banking derivatives - represent the fair value of mortgage banking derivatives in the form of interest rate locks and forward commitments with secondary market investors and the fair value of interest rate swaps. The fair values of Mid Penn’s interest rate locks, forward commitments and interest rate swaps represent the amounts that would be required to settle the derivative financial instruments at the balance sheet date. These characteristics classify m ortgage banking derivatives as Level 3. Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis. These instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, upon acquisition or when there is evidence of impairment). The following table illustrates financial instruments measured at fair value on a nonrecurring basis: June 30, 2026 (In thousands) Level 1 Level 2 Level 3 Total Individually evaluated loans, net of ACL $ — $ — $ 24,134 $ 24,134 Foreclosed assets held-for-sale — — 8,390 8,390 December 31, 2025 (In thousands) Level 1 Level 2 Level 3 Total Individually evaluated loans, net of ACL $ — $ — $ 20,903 $ 20,903 Foreclosed assets held-for-sale — — 7,806 7,806 Net loans - This category consists of loans that were individually evaluated for credit losses, net of the related ACL, and have been classified as Level 3 assets. All of Mid Penn’s individually evaluated loans for 2026 and 2025, whether reporting a specific allowance allocation or not, are considered collateral-dependent. Mid Penn utilized Level 3 inputs such as independent appraisals of the underlying collateral, which generally includes Level 3 inputs which are not observable. Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. Foreclosed assets held-for-sale - Values are based on appraisals that consider the sales prices of property in the proximate vicinity. 35 Table of Contents MID PENN BANCORP, INC. The following table presents additional information about the valuation techniques for level 3 assets measured at fair value on a nonrecurring basis: June 30, 2026 (Dollars in thousands) Fair Value Valuation Technique Significant Unobservable Input Range of Inputs Weighted Average Individually evaluated loans, net of ACL $ 24,134 Appraisal of collateral Appraisal adjustments 0 % - 100 % 61.5 % Foreclosed assets held for sale 8,390 Appraisal of collateral Appraisal adjustments 18 % - 100 % 43.0 % December 31, 2025 (Dollars in thousands) Fair Value Valuation Technique Significant Unobservable Input Range of Inputs Weighted Average Individually evaluated loans, net of ACL $ 20,903 Appraisal of collateral Appraisal adjustments 8 % - 100 % 44.9 % Foreclosed assets held for sale 7,806 Appraisal of collateral Appraisal adjustments 23 % - 100 % 39.8 % The following tables present the carrying amount, fair value, and placement in the fair value hierarchy of Mid Penn's financial instruments as of the periods presented: June 30, 2026 Carrying Amount Estimated Fair Value (In thousands) Level 1 Level 2 Level 3 Total Financial instruments - assets Cash and cash equivalents $ 86,646 $ 86,646 $ — $ — $ 86,646 Available-for-sale securities 499,773 — 499,773 — 499,773 Held-to-maturity securities 372,866 — 346,306 — 346,306 Equity securities 5,387 5,387 — — 5,387 Loans held-for-sale 16,595 — 16,595 — 16,595 Net loans 5,575,529 — — 5,505,422 5,505,422 Restricted investment in bank stocks 15,720 15,720 — 15,720 Accrued interest receivable (2) 33,391 188 4,666 28,538 33,391 Derivative assets 9,115 — 9,115 — 9,115 Financial instruments - liabilities Deposits $ 5,953,297 $ — $ 5,950,466 $ — $ 5,950,466 Short-term borrowings 137,500 — 137,500 — 137,500 Long-term debt (1) 60 — 60 — 60 Subordinated debt — — — — — Accrued interest payable 12,175 — 12,175 — 12,175 Derivative liabilities 7,565 — 7,565 — 7,565 (1) Long-term debt excludes finance lease obligations. (2) Level 1 accrued interest receivable consists primarily of other short-term receivables for which carrying value approximates fair value. 36 Table of Contents MID PENN BANCORP, INC. December 31, 2025 Estimated Fair Value (In thousands) Carrying Amount Level 1 Level 2 Level 3 Total Financial instruments - assets Cash and cash equivalents $ 98,918 $ 98,918 $ — $ — $ 98,918 Available-for-sale securities 416,314 — 416,314 — 416,314 Held-to-maturity securities 347,285 — 321,702 — 321,702 Equity securities 5,446 5,446 — — 5,446 Loans held-for-sale 3,668 — 3,668 — 3,668 Net loans 4,826,747 — — 4,866,731 4,866,731 Restricted investment in bank stocks 7,576 7,576 — 7,576 Accrued interest receivable (2) 29,640 127 3,776 25,737 29,640 Derivative assets 9,007 — 9,007 — 9,007 Financial instruments - liabilities Deposits $ 5,214,663 $ — $ 5,218,656 $ — $ 5,218,656 Short-term borrowings 20,833 — 20,833 — 20,833 Long-term debt (1) 20,222 — 20,223 — 20,223 Subordinated debt — — — — — Accrued interest payable 10,942 — 10,942 — 10,942 Derivative liabilities 8,796 — 8,796 — 8,796 (1) Long-term debt excludes finance lease obligations. (2) Level 1 accrued interest receivable consists primarily of other short-term receivables for which carrying value approximates fair value. The Bank’s outstanding and unfunded credit commitments and financial standby letters of credit were deemed to have no significant fair value as of June 30, 2026 and December 31, 2025. Note 9 - Commitments and Contingencies Guarantees and commitments to extend credit Mid Penn is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These instruments include commitments to extend credit and standby letters of credit. Commitments to extend credit are agreements to lend to a customer unless there is a violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Mid Penn evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the customer. Standby letters of credit and financial guarantees written are conditional commitments to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Mid Penn had $ 97.9 million and $ 66.5 million of standby letters of credit outstanding as of June 30, 2026 and December 31, 2025, respectively. Mid Penn does not anticipate any losses because of these transactions. The amount of the liability as of June 30, 2026 and December 31, 2025 for payment under standby letters of credit issued was not considered material. Mid Penn is required to estimate expected credit losses for OBS credit exposures which are not unconditionally cancellable. Mid Penn maintains a separate ACL on credit-related OBS commitments, including unfunded loan commitments and letters of credit, which is included in other liabilities on the accompanying Consolidated Balance Sheets. The ACL - OBS is adjusted as a provision for OBS commitments in provision for credit losses. The estimate includes consideration of the likelihood that funding will occur, an estimate of exposure at default that is derived from utilization rate assumptions using a non-modeled approach, and PD and LGD estimates derived from the same models and approaches 37 Table of Contents MID PENN BANCORP, INC. used for Mid Penn's other loan portfolio segments described in "Note 4 - Loans and Allowance for Credit Losses - Loans" above, as these unfunded commitments share similar risk characteristics with these loan portfolio segments. The ACL - OBS was $ 3.1 million and $ 2.9 million as of June 30, 2026 and December 31, 2025, respectively. A benefit for credit losses related to credit commitments of $ 29 thousand and a provision for credit losses related to credit commitments of $ 298 thousand were recorded for the three months ended June 30, 2026 and June 30, 2025, respectively. A benefit for credit losses related to credit commitments of $ 83 thousand and a provision for credit losses related to credit commitments of $ 278 thousand were recorded for the six months ended June 30, 2026 and June 30, 2025, respectively. The following table presents the activity in the ACL - OBS by segment for the three and six months ended June 30, 2026 and 2025: (In thousands) Balance as of March 31, 2026 Initial ACL Recorded On Acquired Commitments (Benefit)/Provision for Credit Loss Balance as of June 30, 2026 1-4 Family Rental $ 11 $ — $ — $ 11 C&I 1,538 — ( 43 ) 1,496 CRE NonOwner Occupied 124 — ( 10 ) 114 CRE Owner Occupied 113 — ( 19 ) 94 Consumer 3 — 1 4 Farmland 96 — 2 98 HELOC & Junior Liens 199 — 99 298 Multifamily 12 — 1 13 Other Construction & Land 760 — ( 24 ) 737 Residential Construction 219 — ( 38 ) 181 Residential First Liens 4 — 2 6 $ 3,079 $ — $ ( 29 ) $ 3,051 (In thousands) Balance as of December 31, 2025 Initial ACL Recorded On Acquired Commitments (1) (Benefit)/Provision for Credit Loss Balance as of June 30, 2026 1-4 Family Rental $ 12 $ — $ ( 1 ) $ 11 C&I 1,457 83 ( 45 ) 1,496 CRE NonOwner Occupied 134 — ( 20 ) 114 CRE Owner Occupied 93 — 1 94 Consumer 3 — 1 4 Farmland 97 — 1 98 HELOC & Junior Liens 130 64 104 298 Multifamily 12 — 1 13 Other Construction & Land 742 33 ( 39 ) 737 Residential Construction 229 40 ( 88 ) 181 Residential First Liens 4 — 2 6 $ 2,913 $ 220 $ ( 83 ) $ 3,051 (1) Includes a $ 220 thousand initial allowance on unfunded commitments acquired in the 1st Colonial acquisition. 38 Table of Contents MID PENN BANCORP, INC. (In thousands) Balance as of March 31, 2025 (Benefit)/Provision for Credit Loss (1) Balance as of June 30, 2025 1-4 Family Rental $ 13 $ 3 $ 16 C&I 1,322 ( 120 ) 1,202 CRE NonOwner Occupied 109 4 113 CRE Owner Occupied 105 13 118 Consumer 3 — 3 Farmland 112 ( 13 ) 99 HELOC & Junior Liens 95 30 125 Multifamily 22 1 23 Other Construction & Land 660 382 1,042 Residential Construction 471 ( 2 ) 469 Residential First Liens 7 — 7 $ 2,919 $ 298 $ 3,217 (In thousands) Balance as of December 31, 2024 (Benefit)/Provision for Credit Loss (1) Balance as of June 30, 2025 1-4 Family Rental $ 16 $ — $ 16 C&I 1,165 37 1,202 CRE NonOwner Occupied 132 ( 19 ) 113 CRE Owner Occupied 98 20 118 Consumer 3 — 3 Farmland 92 7 99 HELOC & Junior Liens 92 33 125 Multifamily 27 ( 4 ) 23 Other Construction & Land 792 250 1,042 Residential Construction 516 ( 47 ) 469 Residential First Liens 6 1 7 $ 2,939 $ 278 $ 3,217 (1) Includes a $ 274 thousand initial allowance on unfunded commitments acquired in the William Penn acquisition. Litigation Mid Penn and its subsidiaries are subject to various pending and threatened legal proceedings or other matters arising out of the normal conduct of business in which claims for monetary damages are asserted. As of the date of this report, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of such pending or threatened matters will be material to Mid Penn’s consolidated financial position. On at least a quarterly basis, Mid Penn assesses its liabilities and contingencies in connection with such matters. For those matters where it is probable that Mid Penn will incur losses and the amounts of the losses can be reasonably estimated, Mid Penn records an expense and corresponding liability in its consolidated financial statements. To the extent such matters could result in exposure in excess of that liability, the amount of such excess is not currently estimable. The range of losses for matters where an exposure is not currently estimable or considered probable is not believed to be material in the aggregate. This is based on information currently available to Mid Penn and involves elements of judgment and significant uncertainties. While Mid Penn does not believe that the outcome of pending or threatened litigation or other matters will be material to Mid Penn’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future. In addition, regardless of the ultimate outcome of any such legal proceeding, inquiry or investigation, any such matter could cause Mid Penn to incur additional expenses, which could be significant, and possibly material, to Mid Penn’s results of operations in any future period. 39 Table of Contents MID PENN BANCORP, INC. Note 10 - Debt Short-term FHLB and Correspondent Bank Borrowings Total short-term borrowings were $ 137.5 million and $ 20.8 million as of June 30, 2026 and December 31, 2025, respectively. Short-term borrowings generally consist of federal funds purchased and advances from the FHLB with an original maturity of less than one year. Federal funds purchased from correspondent banks mature in one business day and are repriced daily based on the federal funds rate. Advances from the FHLB are collateralized by the Bank’s investment in FHLB common stock and by a blanket lien on selected loan receivables comprised principally of real estate secured loans. As of June 30, 2026, the amount of loans pledged totaled $ 3.2 billion. As of June 30, 2026, the Bank's unused short-term borrowing capacity with the FHLB totaled $ 1.7 billion (equal to $ 2.2 billion of maximum borrowing capacity, less the aggregate amount of FHLB letters of credit securing public funds deposits, and other FHLB advances and obligations outstanding) upon satisfaction of any stock purchase requirements of the FHLB. The Bank also maintained unused overnight lines of credit with other correspondent banks totaling $ 35.0 million as of June 30, 2026. No draws have been made on these lines of credit as of June 30, 2026 and December 31, 2025, respectively. Long-term Debt The following table presents a summary of long-term debt as of June 30, 2026 and December 31, 2025. (Dollars in thousands) June 30, 2026 December 31, 2025 FHLB fixed rate instruments: Due February 2026, 4.51 % $ — $ 20,000 Due August 2026, 4.80 % 54 212 Due February 2027, 6.71 % 6 10 Total FHLB fixed rate instruments 60 20,222 Finance lease obligations included in long-term debt 2,842 2,917 Total long-term debt $ 2,902 $ 23,139 As a member of the FHLB, the Bank can access a number of credit products which are utilized to provide liquidity. As of June 30, 2026 and December 31, 2025, the Bank had long-term debt outstanding in the amount of $ 2.9 million and $ 23.1 million, respectively, consisting of FHLB fixed rate instruments, and a finance lease liability. The FHLB fixed rate instruments are secured under the terms of a blanket collateral agreement with the FHLB consisting of FHLB stock and qualifying Mid Penn loan receivables, principally real estate secured loans. Mid Penn also obtains letters of credit from the FHLB to secure certain public fund deposits of municipalities and school district customers which are used as a legally allowable alternative to investment in securities. These FHLB letter of credit commitments totaled $ 399.6 million and $ 162.5 million as of June 30, 2026 and December 31, 2025, respectively. 40 Table of Contents MID PENN BANCORP, INC. Note 11 - Subordinated Debt Subordinated Debt Assumed November 2021 with the Riverview Acquisition On November 30, 2021, Mid Penn completed its acquisition of Riverview and assumed $ 25.0 million of Subordinated notes (the "Riverview Notes"). In accordance with purchase accounting principles, the Riverview Notes were recorded at fair value, including a premium of $ 2.3 million. The notes were treated as Tier 2 capital for regulatory reporting purposes. The Riverview Notes were issued by Riverview on October 6, 2020 in a private placement to certain qualified institutional buyers and accredited institutional investors. The Riverview Notes had a maturity date of October 15, 2030 and initially bore interest at a fixed rate of 5.75 % per annum before converting to a floating rate prior to redemption. The Riverview Notes were redeemable beginning on October 15, 2025, and Mid Penn redeemed all of the Riverview Notes on such date. Subordinated Debt Issued December 2020 On December 22, 2020, Mid Penn issued $ 12.2 million of subordinated notes due December 2030 (the "December 2020 Notes") in a private placement to qualified institutional buyers and accredited investors. The December 2020 Notes were treated as Tier 2 capital for regulatory capital purposes. The December 2020 Notes initially bore interest at a fixed rate of 4.5 % per annum before converting to a floating rate prior to redemption. The December 2020 Notes became redeemable beginning December 31, 2025, and Mid Penn redeemed all of the December 2020 Notes on such date. Subordinated Debt Issued March 2020 On March 20, 2020, Mid Penn issued $ 15.0 million of subordinated notes due March 2030 (the "March 2020 Notes") in a private placement to qualified institutional buyers and accredited investors. The March 2020 Notes were treated as Tier 2 capital for regulatory capital purposes. The March 2020 Notes initially bore interest at a fixed rate of 4.0 % per annum before converting to a floating rate prior to redemption. The March 2020 Notes became redeemable on March 30, 2025 and Mid Penn redeemed all of the March 2020 Notes in full on June 30, 2025. Outstanding Balance As of June 30, 2026, the Corporation had no subordinated debt outstanding. 41 Table of Contents MID PENN BANCORP, INC. Note 12 - Common Stock and Equity Incentive Plans Treasury Stock Repurchase Program Mid Penn adopted a treasury stock repurchase program ("Program") initially effective March 19, 2020. On April 21, 2026, the Board of Directors renewed the Program through April 30, 2027 and approved an increase in repurchase authorization permitting the repurchase of up to an additional $ 50.0 million of Mid Penn’s outstanding common stock. Under the Program, Mid Penn conducts 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. Repurchases under the Program are made at the discretion of management and are subject to market conditions and other factors. There is no guarantee as to the exact number of shares that Mid Penn may repurchase. The Program is able to be modified, suspended or terminated at any time, at 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 Program does not obligate Mid Penn to repurchase any shares. During the six months ended June 30, 2026, Mid Penn repurchased 76,000 shares of common stock at an average price of $ 32.78 . All 76,000 shares were repurchased during the three months ended June 30, 2026, at an average price of $ 32.78 . As of June 30, 2026, Mid Penn has repurchased an aggregate total of 595,891 shares of common stock under the Program at an average price of $ 24.82 per share. Dividend Reinvestment Plan The amended and restated Dividend Reinvestment Plan of Mid Penn Bancorp, Inc. allows holders of the Corporation's common shares to purchase additional shares of the Corporation's common stock, par value $ 1.00 per share. Under the plan, participants may have cash dividends on all of their shares automatically reinvested, and each participating shareholder may also make optional cash contributions to purchase additional shares. As of June 30, 2026, participants in the plan held 492,599 shares of the Corporation's common stock. Equity Incentive Plans The Corporation recognizes stock-based compensation expense for equity awards based on the grant-date fair value of the awards. Compensation expense is recognized on a straight-line basis over the requisite service period and is included in salaries and benefits expense in the Consolidated Statements of Income. On May 9, 2023, shareholders approved the 2023 Stock Incentive Plan (the "2023 Plan"), which authorizes Mid Penn to grant incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, deferred stock units and performance shares. The 2023 Plan was established for employees and directors of Mid Penn and the Bank, selected by the Compensation Committee of the Board of Directors, to incentivize the further success of the Corporation, and replaced the 2014 Restricted Stock Plan (the "2014 Plan", and together with the 2023 Plan, the "Plans"). The aggregate number of shares of common stock available for issuance under the Plans is 550,000 shares . As of June 30, 2026, a total of 394,554 restricted shares were granted under the Plans, of which 144,177 shares were unvested. The Plan's shares granted and vested resulted in $ 1.0 million and $ 2.4 million in share-based compensation expense for the three months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026 and 2025, the Plan's shares granted and vested resulted in share-based compensation expense of $ 1.7 million and $ 2.6 million, respectively. Stock-based compensation expense relating to restricted stock is calculated using grant date fair value and is recognized on a straight-line basis over the vesting periods of the awards. Restricted shares granted to employees vest in equal amounts on the anniversary of the grant date over the vesting period and the expense is a component of salaries and benefits expense on the Consolidated Statement of Income. The employee grant vesting period is determined by the terms of each respective grant, with vesting periods generally between one and four years . Restricted shares granted to directors have a twelve-month vesting period, and the expense is a component of directors’ fees and benefits within the other expense line item on the Consolidated Statement of Income. 42 Table of Contents MID PENN BANCORP, INC. Equity Awards Assumed from William Penn Acquisition In connection with the acquisition of William Penn on April 30, 2025, the Corporation issued 3,506,795 shares of common stock as purchase consideration and assumed outstanding equity awards of William Penn, resulting in the issuance of 538,447 stock options and 215,386 restricted stock units "RSUs" of which, 60,126 stock options and 27,821 restricted stock units remained unvested as of June 30, 2026. Compensation expense for stock options was $ 131 thousand and $ 262 thousand for the three and six months ended June 30, 2026, respectively. As of June 30, 2026, unrecognized compensation expense related to unvested options was $ 514 thousand. Compensation expense for restricted stock awards was $ 183 thousand and $ 365 thousand for the three and six months ended June 30, 2026, respectively. As of June 30, 2026, unrecognized compensation cost related to unvested restricted stock was $ 711 thousand. The assumed awards are subject to the original vesting terms and conditions included in William Penn's stock-based compensation plan. Stock Appreciation Rights Issued in Connection with the Cumberland Advisors Acquisition Stock appreciation rights issued in the acquisition of Cumberland Advisors are being accounted for as post-combination compensation expense and will be recognized over the applicable service period. The stock appreciation rights have a maximum aggregate value of $ 1.2 million to be exercisable between the first and third anniversary of the closing date of the transaction. 43 Table of Contents MID PENN BANCORP, INC. Note 13 - Earnings Per Share Basic earnings per share ("EPS") is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding plus the effect of potentially dilutive common shares, which include stock options and unvested restricted stock awards, using the treasury stock method. The following data sets forth the computation of basic and diluted earnings per common share: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2026 2025 2026 2025 Net income available to common shareholders $ 21,691 $ 4,762 $ 30,397 $ 18,504 Weighted-average common shares outstanding - basic 25,330,234 21,566,617 24,643,437 20,467,349 Dilutive effect of stock-based compensation 294,516 32,818 292,648 301,485 Weighted-average common shares outstanding - diluted 25,624,750 21,599,435 24,936,085 20,768,834 Basic earnings per common share $ 0.86 $ 0.22 $ 1.23 $ 0.90 Diluted earnings per common share 0.85 0.22 1.22 0.89 Anti-dilutive shares are common stock equivalents with weighted-average exercise prices in excess of the weighted-average market value for the periods presented. There were no anti-dilutive stock options excluded from diluted earnings per share for the three and six months ended June 30, 2026, respectively. There were 367,400 and 111,994 antidilutive instruments for the three and six months ended June 30, 2025, respectively. Dilutive common stock equivalents included issued equity awards acquired in the William Penn acquisition. As part of the acquisition of William Penn on April 30, 2025, the Corporation issued 3,506,795 shares of common stock as purchase consideration, and assumed outstanding equity awards of William Penn, consisting of 538,447 stock options and 215,386 restricted stock units (RSUs). As part of the acquisition of Cumberland Advisors on January 1, 2026, Mid Penn issued 127,009 shares of common stock as purchase consideration. As part of the acquisition of 1st Colonial on February 27, 2026, Mid Penn issued 2,111,076 shares of common stock as purchase consideration. These shares contributed to the increase in weighted-average shares outstanding for the six months ended June 30, 2026. 44 Table of Contents MID PENN BANCORP, INC. Note 14 - Segment Reporting Mid Penn operates as a single reportable segment, providing a broad range of banking and financial services to individuals, businesses, and institutional clients. These services include commercial and consumer lending, deposit products, wealth management, insurance, and treasury management solutions. The Chief Executive Officer and the Chief Financial Officer together act as Mid Penn Chief Operating Decision Makers ("CODM"). The CODM regularly evaluates financial performance and allocates resources on a consolidated basis. The following table presents financial information reviewed by the CODM in assessing performance and allocating resources: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2026 2025 2026 2025 Net interest income $ 65,280 $ 48,206 $ 120,529 $ 90,715 Provision for credit losses 528 2,269 2,122 2,570 Noninterest income 10,586 6,143 20,190 11,382 Noninterest expense 47,767 47,798 99,725 78,440 Provision/(Benefit) for Income taxes 5,880 ( 480 ) 8,475 2,583 Net income 21,691 4,762 30,397 18,504 Total assets $ 7,062,910 $ 6,354,543 $ 7,062,910 $ 6,354,543 Other Segment Information Revenue Composition: Mid Penn generates revenue primarily from net interest income and non-interest income, including fees from deposit accounts, wealth management, insurance, and treasury services. Capital Allocation & Performance Metrics: The CODM assesses performance based on key financial metrics, including net interest margin, return on average assets ("ROA"), return on average equity ("ROE") and core efficiency ratio. 45 Table of Contents MID PENN BANCORP, INC. ITEM 2 – MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This Management Discussion relates to the Corporation, a financial holding company incorporated in the Commonwealth of Pennsylvania, and its wholly-owned subsidiaries, and should be read in conjunction with the consolidated financial statements and other financial information presented in this report and our Annual Report on Form 10-K for the year ended December 31, 2025. Caution About Forward-Looking Statements Forward-looking statements involve risks, uncertainties and assumptions. Although Mid Penn generally does not make forward-looking statements unless Mid Penn’s management believes its management has a reasonable basis for doing so, Mid Penn cannot guarantee the accuracy of any forward-looking statements. Actual results may differ materially from those expressed in any forward-looking statements due to a number of uncertainties and risks, including the risks described in this Quarterly Report on Form 10-Q, the 2025 Annual Report, and other unforeseen risks. You should not put undue reliance on any forward-looking statements. These statements speak only as of the date of this Quarterly Report on Form 10-Q, even if subsequently made available by us on Mid Penn’s website or otherwise, and Mid Penn undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this Quarterly Report on Form 10-Q. Certain of the matters discussed in this document or in documents incorporated by reference herein, including matters discussed under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” may constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, or Securities Act, and Section 21E of the Securities Exchange Act of 1934, or Exchange Act. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward looking statements include without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” or words or phrases of similar meaning. We caution that the forward-looking statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements. The following factors, among others, could cause our financial performance to differ materially from that expressed in such forward-looking statements: • Mid Penn’s ability to efficiently integrate recent acquisitions into its business and operations, which may take longer than anticipated or be more costly than anticipated or result in unanticipated disruptions to existing operations; • the possibility that anticipated benefits of recent acquisitions, including cost savings and other synergies, may take longer to be realized or may not fully be achieved, and that attrition in client, partner or other relationships may be greater than expected; • risks associated with acquired loan portfolios, including unexpected credit deterioration, valuation adjustments, or higher-than-anticipated credit losses; • the effects of future economic conditions on Mid Penn, the Bank, our nonbank subsidiaries, and our markets and customers; • governmental monetary and fiscal policies, as well as legislative and regulatory changes; • future actions or inactions of the United States government, including a failure to increase the government debt limit or a prolonged shutdown of the federal government; • business or economic disruption from public health events or other external disruptions; • the risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, the value of investment securities, and interest rate protection agreements; • 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 our 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; 46 Table of Contents MID PENN BANCORP, INC. • an increase in the Pennsylvania Bank Shares Tax to which the Bank’s capital stock is currently subject, or imposition of any additional taxes on the capital stock of Mid Penn or the Bank; • impacts of the capital and liquidity requirements imposed by bank regulatory agencies; • the effect of changes in accounting policies and practices, including the adoption or interpretation of new accounting standards, as may be adopted by regulatory agencies, the Public Company Accounting Oversight Board, Financial Accounting Standards Board, the SEC, and other accounting and reporting rule making authorities; • the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; • changes in technology; • our ability to successfully expand our franchise, including through acquisitions or establishing new offices at favorable prices; • potential goodwill impairment charges, or future impairment charges and fluctuations in the fair values of reporting units or of assets in the event projected financial results are not achieved within expected time frames; • our ability to attract and retain qualified management and personnel; • results of regulatory examination and supervision processes; • the failure of assumptions underlying the establishment of reserves for loan and lease losses, the assessment of potential impairment of investment securities, and estimations of values of collateral and various financial assets and liabilities; • our ability to maintain compliance with the listing rules of The NASDAQ Stock Market; • our ability to maintain the value and image of our brand and protect our intellectual property rights; • volatility in the securities markets; • disruptions due to flooding, severe weather, or other natural disasters or acts of God; • acts of war, terrorism, geopolitical instability, or other international conflicts; • supply chain disruption; and • the risk factors described in Item 1A of the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent filings with the SEC. The above list of factors that may affect future performance is illustrative, but by no means exhaustive. Accordingly, all forward-looking statements should be evaluated with this understanding of inherent uncertainty. 47 Table of Contents MID PENN BANCORP, INC. Overview Mid Penn is a financial holding company incorporated in August 1991 in the Commonwealth of Pennsylvania. Mid Penn generates the majority of its revenues through net interest income, or the difference between interest earned on loans and investments and interest paid on deposits and borrowings. Growth in net interest income is dependent upon balance sheet growth and maintaining or increasing the net interest margin, which is calculated on a fully taxable-equivalent basis ("FTE") as net interest income as a percentage of average interest-earning assets. Mid Penn also generates revenue through fees earned on the various services and products offered to its customers and through gains on sales of assets, such as loans, investments and properties. Offsetting these revenue sources are provisions for credit losses, non-interest expenses and income taxes. The following table presents a summary of Mid Penn's earnings and selected performance ratios: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2026 2025 2026 2025 Net Income $ 21,691 $ 4,762 $ 30,397 $ 18,504 Diluted EPS $ 0.85 $ 0.22 $ 1.22 $ 0.89 Dividends declared $ 0.22 $ 0.20 $ 0.44 $ 0.40 Return on average assets (2) 1.24 % 0.32 % 0.92 % 0.65 % Return on average equity (2) 9.75 % 2.85 % 7.06 % 5.60 % Net interest margin (1)(2) 4.06 % 3.44 % 3.94 % 3.41 % Nonperforming assets to total assets 0.52 % 0.44 % 0.52 % 0.44 % Net charge-offs/(recoveries) to average loans (annualized) 0.002 % 0.069 % 0.077 % 0.069 % (1) Presented on a FTE basis using a 21% Federal tax rate and statutory interest expense disallowances. See also the "Net Interest Income" section. (2) Annualized ratios On February 27, 2026, Mid Penn completed the acquisition of 1st Colonial Bancorp, Inc. ("1st Colonial"), which added total assets of $842.5 million, comprised primarily of $597.5 million of loans. Additionally, on January 1, 2026, Mid Penn completed the acquisition of Cumberland Advisors, Inc. ("Cumberland Advisors"), a registered investment advisory firm, which had approximately $3.2 billion in assets under management, further expanding the Corporation's wealth management capabilities and fee-based revenue. On April 30, 2025, Mid Penn completed the William Penn acquisition, which added total assets of $726.5 million, including $405.3 million of loans. This transaction included the acquisition of 12 branches, further expanding Mid Penn's presence in the Philadelphia region and surrounding counties in Pennsylvania and New Jersey. Mid Penn issued 3,506,795 shares of Mid Penn common stock as consideration for the $103.2 million purchase price. The Corporation also granted replacement awards for 538,447 stock options and 215,386 restricted stock units, with a fair value of $3.1 million, to continuing employees of William Penn. Summary of Financial Results • Net Income Per Share - Mid Penn’s net income available to common shareholders ("earnings") for the three months ended June 30, 2026 was $21.7 million, or $0.86 per basic common share and $0.85 per diluted common share, compared to earnings of $4.8 million, or $0.22 per basic and diluted common share for the three months ended June 30, 2025. The increase in net income per diluted share primarily reflected earnings from the 1st Colonial and Cumberland Advisors acquisitions, and the absence of merger related expenses associated with the William Penn acquisition that were recognized in the prior period. Mid Penn's earnings for the six months ended June 30, 2026 were $30.4 million, or $1.23 per basic common share and $1.22 per diluted common share, compared to earnings of $18.5 million, or $0.90 per basic common share, and $0.89 per diluted common share for the six months ended June 30, 2025. 48 Table of Contents MID PENN BANCORP, INC. ◦ Net Interest Margin - For the second quarter of 2026, Mid Penn’s net interest margin was 4.06% versus 3.44% for the same period of 2025. For the six months ended June 30, 2026, net interest margin was 3.94% versus 3.41% for the same period of 2025. The yield on interest-earning assets for the three months ended June 30, 2026 increased 30 basis points from the same period of 2025. The rate on interest-bearing liabilities decreased 41 basis points from the same period of 2025. The increase, compared to the second quarter of 2025, was driven by higher loan and investment securities yields, and a reduction in the cost of funds. ◦ Loan Growth - Total loans, net of unearned income, as of June 30, 2026 were $5.6 billion compared to $4.9 billion as of December 31, 2025, an increase of $754.3 million, or 15.5%. The increase was primarily driven by the 1st Colonial acquisition and organic growth, which contributed to an increase in residential mortgage loans of $336.2 million, an increase in nonowner occupied commercial real estate of $235.8 million, an increase in owner occupied commercial real estate of $112.1 million, a $26.9 million increase in multifamily loans, a $22.7 million increase in construction loans, and an increase in commercial and industrial loans of $8.4 million. ◦ Deposit Growth - Total deposits increased $738.6 million, or 14.2%, from $5.2 billion at December 31, 2025, to $6.0 billion at June 30, 2026. The growth was primarily driven by the acquisition of 1st Colonial, which contributed to an increase of $470.4 million in interest-bearing transaction accounts, an increase of $139.4 million in noninterest-bearing accounts, and an increase of $128.9 million in time deposits. • Asset Quality - ACL as of June 30, 2026 was $41.6 million, or 0.74% of total loans, as compared to $36.1 million, or 0.74% of total loans as of December 31, 2025. The increase primarily reflects the initial allowance recorded for 1st Colonial loans of $4.4 million. ◦ Net Charge-offs/Recoveries - Mid Penn had net loan charge-offs of $22 thousand and $811 thousand for the three months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026, net loan charge-offs were $1.1 million compared to $808 thousand for the same period of 2025. ◦ Nonperforming assets - Total nonperforming assets were $36.8 million at June 30, 2026, an increase compared to nonperforming assets of $30.8 million at December 31, 2025. The increase during the second quarter of 2026 is primarily related to the addition of $7.4 million of nonaccrual loans from the 1st Colonial acquisition, partially offset by the payoff of one commercial real estate loan with a balance of $1.3 million. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.71% at June 30, 2026, compared to 0.69% and 0.58% as of December 31, 2025 and June 30, 2025, respectively. ◦ Provision/Benefit for credit losses - loans - The provision for credit losses - loans was $557 thousand for the three months ended June 30, 2026 compared to a provision of $2.2 million for the same period of 2025. The benefit for credit losses on off-balance sheet credit exposures was $29 thousand for the three months ended June 30, 2026, compared to a provision of $24 thousand for the same period of 2025. The decrease in provision for the three months ended June 30, 2026, was primarily driven by qualitative adjustments to the CRE owner-occupied portfolio and improved macroeconomic assumptions, offset by an increase in reserve on one individually analyzed C&I loan. The provision for credit losses on loans was $2.2 million for the six months ended June 30, 2026, a decrease of $361 thousand compared to the provision for credit losses of $2.6 million for the six months ended June 30, 2025. The decrease for the six months ended June 30, 2026 was primarily attributable to improved macroeconomic assumptions, partially offset by increases from qualitative adjustments to several segments of the portfolio. The benefit for credit losses on off-balance sheet credit exposures was $29 thousand and $83 thousand for the three and six months ended June 30, 2026, respectively. 49 Table of Contents MID PENN BANCORP, INC. • Noninterest Income - Noninterest income totaled $10.6 million for the three months ended June 30, 2026 compared to $6.1 million for the same period of 2025. The increase is primarily due to a $2.5 million increase in fiduciary and wealth management, reflecting the Cumberland Advisors acquisition, a $550 thousand increase in earnings from the cash surrender value of life insurance, a $443 thousand increase in mortgage banking, a $211 thousand increase in ATM debit card interchange fees, and a $690 thousand increase in other noninterest income. Noninterest income totaled $20.2 million for the six months ended June 30, 2026 compared to $11.4 million for the same period of 2025. The increase in noninterest income was primarily driven by a $5.0 million increase in fiduciary and wealth management income, reflecting the acquisition of Cumberland Advisors, a $981 thousand increase in earnings from the cash surrender value of life insurance, and a $2.0 million increase in other noninterest income, including a $653 thousand increase in insurance commissions, and a $558 thousand increase in death benefits received. • Noninterest Expense - Noninterest expense totaled $47.8 million for the three months ended June 30, 2026, a decrease of $31 thousand, or 0.1%, compared to noninterest expense of $47.8 million for the same period of 2025. Salaries and employee benefits increased $6.2 million due to the addition of 1st Colonial and Cumberland Advisors, legal and professional fees increased $1.2 million, intangible amortization increased $1.1 million, and software licensing and utilization costs increased $883 thousand, partially offset by a decrease of $10.9 million in merger and acquisition expense related to the William Penn acquisition in 2025. Noninterest expense totaled $99.7 million for the six months ended June 30, 2026 compared to $78.4 million for the same period of 2025. The increase was primarily driven by a $13.2 million increase in salaries and benefits, reflecting additional staff from the 1st Colonial, Cumberland Advisors, and William Penn acquisitions. Software licensing and utilization costs, occupancy expenses, and legal and professional fees increased $1.9 million, $1.5 million, and $2.0 million, respectively, primarily reflecting Mid Penn's increased size and operational complexity following these acquisitions. Intangible amortization also increased $1.9 million. These increases were partially offset by a $3.5 million decrease in merger and acquisition expenses compared to the same period of 2025. • Liquidity - Current liquidity, including cash equivalents and borrowing capacity, totaled $1.7 billion compared to $1.5 billion at March 31, 2026, representing 142.5% of uninsured and uncollateralized deposits and approximately 28.6% of total deposits. 50 Table of Contents MID PENN BANCORP, INC. Critical Accounting Estimates The 2025 Annual Report on Form 10-K includes a summary of critical accounting estimates that Mid Penn considers to be most important to the presentation of its financial condition and results of operations. These estimates require management’s most difficult judgments as a result of the need to make estimates about the effects of matters that are inherently uncertain. Management of the Corporation considers the accounting judgments relating to the allowance for credit losses, business combinations, and goodwill impairment to be the accounting areas that require the most subjective and complex judgments. Changes in key assumptions, including economic conditions and other inputs used in these estimates, could have a material impact on the Corporation's results of operations and financial condition. There have been no material changes to Mid Penn's critical accounting estimates as disclosed in the Annual Report on Form 10-K for the year ended December 31, 2025. Results of Operations Net Interest Income Net interest income, Mid Penn’s primary source of earnings, represents the difference between interest income received on loans, investments, and overnight funds, and interest expense paid on deposits and short- and long-term borrowings. Net interest income is affected by changes in interest rates and changes in average balances (volume) in the various interest-sensitive assets and liabilities. Interest and average rates in the table below are presented on a fully taxable-equivalent basis ("FTE"). Tax-equivalent adjustments were calculated using a statutory corporate tax rate of 21% for the three and six months ended June 30, 2026 and 2025. 51 Table of Contents MID PENN BANCORP, INC. The following table includes average balances, amounts, and yields of interest income and rates of expense, interest rate spread, and net interest margin for the periods presented: Average Balances, Income and Interest Rates For the Three Months Ended June 30, 2026 June 30, 2025 (Dollars in thousands) Average Balance Interest Yield/ Rate (2) Average Balance Interest Yield/ Rate (2) ASSETS: Interest Bearing Balances $ 19,067 $ 117 2.46 % $ 23,271 $ 142 2.45 % Investment Securities: Taxable 787,477 7,213 3.67 % 584,919 4,570 3.13 % Tax-exempt 55,840 284 2.04 % 67,186 344 2.05 % Total Investment Securities 843,317 7,497 3.57 % 652,105 4,914 3.02 % Federal funds sold 11,748 159 5.43 % 236,037 2,428 4.13 % Loans, net of unearned income 5,588,129 88,574 6.36 % 4,724,638 72,469 6.15 % Restricted investment in bank stocks 12,292 345 11.26 % 6,945 67 3.87 % Total Interest-earning Assets 6,474,553 96,692 5.99 % 5,642,996 80,020 5.69 % Cash and Due from Banks 55,360 50,376 Other Assets 466,108 342,673 Total Assets $ 6,996,021 $ 6,036,045 LIABILITIES & SHAREHOLDERS' EQUITY: Interest-bearing Demand $ 1,660,007 $ 6,712 1.62 % $ 1,123,130 $ 4,954 1.77 % Money market 1,243,822 7,838 2.53 % 1,179,295 8,350 2.84 % Savings 433,917 711 0.66 % 307,634 70 0.09 % Time 1,668,054 15,358 3.69 % 1,735,888 17,607 4.07 % Total Interest-bearing Deposits 5,005,800 30,619 2.45 % 4,345,947 30,981 2.86 % Short-term borrowings 79,875 764 3.84 % 7,418 86 4.65 % Long-term debt 2,886 29 4.03 % 23,417 252 4.32 % Subordinated debt — — — % 45,264 495 4.39 % Total Interest-bearing Liabilities 5,088,561 31,412 2.48 % 4,422,046 31,814 2.89 % Noninterest-bearing Demand 933,699 813,807 Other Liabilities 81,669 129,701 Shareholders' Equity 892,092 670,491 Total Liabilities & Shareholders' Equity $ 6,996,021 $ 6,036,045 Net Interest Income $ 65,280 $ 48,206 Taxable Equivalent Adjustment (1) 231 245 Net Interest Income (taxable-equivalent basis) $ 65,511 $ 48,451 Total Yield on Earning Assets 5.99 % 5.69 % Rate on Supporting Liabilities 2.48 % 2.89 % Average Interest Spread 3.51 % 2.80 % Net Interest Margin (1) 4.06 % 3.44 % (1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances. (2) Annualized ratios. 52 Table of Contents MID PENN BANCORP, INC. The following table summarizes the changes in interest income and interest expense resulting from changes in average balances, volume, and changes in rates for the three months ended June 30, 2026 in comparison to the same period in 2025: Three Months Ended June 30, 2026 vs. June 30, 2025 Increase (decrease) (In thousands) Volume Rate Net INTEREST INCOME: Interest Bearing Balances $ (26) $ 1 $ (25) Investment Securities: Taxable 1,583 1,060 2,643 Tax-exempt (58) (2) (60) Total Investment Securities 1,525 1,058 2,583 Federal funds sold (2,307) 38 (2,269) Loans 13,245 2,860 16,105 Restricted investment in bank stocks 52 226 278 Total Interest Income 12,489 4,183 16,672 INTEREST EXPENSE: Interest-Bearing Deposits: Interest-bearing demand 2,368 (610) 1,758 Money market 457 (969) (512) Savings 29 612 641 Time (688) (1,561) (2,249) Total Interest-Bearing Deposits 2,166 (2,528) (362) Short-term borrowings 840 (162) 678 Long-term debt (221) (2) (223) Subordinated debt (495) — (495) Total Interest Expense 2,290 (2,692) (402) NET INTEREST INCOME $ 10,199 $ 6,875 $ 17,074 For the three months ended June 30, 2026, net interest income was $65.3 million compared to net interest income of $48.2 million for the three months ended June 30, 2025. The tax-equivalent net interest margin for the three months ended June 30, 2026 was 4.06% compared to 3.44% for the second quarter of 2025, representing a 62 bp increase compared to the same period in 2025. The yield on interest-earning assets increased to 5.99% for the quarter ended June 30, 2026 from 5.69% for the quarter ended June 30, 2025. These increases were primarily due to continued repricing of assets at higher rates during the second quarter of 2026 compared to the second quarter of 2025, continued discipline on new loan pricing, and an increase in Fed funds sold. Average investment securities increased $191.2 million and the yield on those investment securities increased 55 bps during the second quarter of 2026 compared to the second quarter of 2025, increasing interest income due to volume by $1.5 million, and increasing interest income due to rates by $1.1 million. Average loans increased $863.5 million, and the yield on those loans increased 21 bps, contributing $13.2 million and $2.9 million, respectively, to the increase in interest income. Interest expense decreased $402 thousand during the second quarter of 2026 compared to the second quarter of 2025. The rate of interest-bearing liabilities decreased from 2.89% for the second quarter of 2025 to 2.48% for the second quarter of 2026. The decrease in the average rate was primarily attributable to lower rates paid on interest-bearing deposits following 53 Table of Contents MID PENN BANCORP, INC. Federal Reserve rate cuts in 2025, lower rates on short term borrowings, and lower long-term debt. Mid Penn continued to offer higher rates over the comparable period to both retain and attract deposits. Although the effective interest rate impact on interest-earning assets and funding sources can be reasonably estimated at current interest rate levels, the interest-bearing product and pricing options selected by customers, and the future mix of the loan, investment, and deposit products in the Bank's portfolios, may significantly change the estimates used in Mid Penn’s asset and liability management and related interest rate risk simulation models. In addition, our net interest income may be impacted by further interest rate actions of the Federal Reserve’s FOMC. 54 Table of Contents MID PENN BANCORP, INC. Average Balances, Income and Interest Rates on a Taxable-Equivalent Basis For the Six Months Ended June 30, 2026 2025 (Dollars in thousands) Average Balance Interest Yield/ Rate Average Balance Interest Yield/ Rate ASSETS: Interest Bearing Balances $ 19,356 $ 227 2.36 % $ 22,039 $ 280 2.56 % Investment Securities: Taxable 751,543 13,697 3.68 577,401 8,879 3.10 Tax-exempt 62,164 581 1.88 68,476 692 2.04 Total Investment Securities 813,707 14,278 3.54 645,877 9,571 2.99 Federal funds sold 14,357 378 5.31 130,482 2,689 4.16 Loans, net of unearned income 5,337,080 165,375 6.25 4,592,890 139,006 6.10 Restricted investment in bank stocks 11,582 360 6.27 7,022 218 6.26 Total Interest-earning Assets 6,196,082 180,618 5.88 5,398,310 151,764 5.67 Cash and Due from Banks 55,452 45,175 Other Assets 444,216 321,923 Total Assets $ 6,695,750 $ 5,765,408 LIABILITIES & SHAREHOLDERS' EQUITY: Interest-bearing Demand $ 1,522,053 $ 12,129 1.61 % $ 1,087,426 $ 9,635 1.79 % Money market 1,230,277 15,308 2.51 1,103,745 15,291 2.79 Savings 398,950 1,011 0.51 284,428 124 0.09 Time 1,624,228 30,019 3.73 1,662,891 34,195 4.15 Total Interest-bearing Deposits 4,775,508 58,467 2.47 4,138,490 59,245 2.89 Short-term borrowings 75,517 1,467 3.92 16,106 376 4.71 Long-term debt 7,285 155 4.29 23,475 509 4.37 Subordinated debt — — — 45,462 919 4.08 Total Interest-bearing Liabilities 4,858,310 60,089 2.49 4,223,533 61,049 2.91 Noninterest-bearing Demand 892,547 783,561 Other Liabilities 76,379 92,560 Shareholders' Equity 868,514 665,754 Total Liabilities & Shareholders' Equity $ 6,695,750 $ 5,765,408 Net Interest Income $ 120,529 $ 90,715 Taxable Equivalent Adjustment (1) 467 487 Net Interest Income (taxable-equivalent basis) $ 120,996 $ 91,202 Total Yield on Earning Assets 5.88 % 5.67 % Rate on Supporting Liabilities 2.49 2.91 Average Interest Spread 3.38 2.75 Net Interest Margin (1) 3.94 3.41 (1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances. (2) Annualized ratios. 55 Table of Contents MID PENN BANCORP, INC. The following table summarizes the changes in interest income and interest expense resulting from changes in average balances, volume, and changes in rates for the six months ended June 30, 2026 in comparison to the same period in 2025: Six Months Ended June 30, 2026 vs. June 30, 2025 (In thousands) Increase (decrease) Volume Rate Net INTEREST INCOME: Interest Bearing Balances $ (34) $ (19) $ (53) Investment Securities: Taxable 2,678 2,140 4,818 Tax-exempt (64) (47) (111) Total Investment Securities 2,614 2,093 4,707 Federal funds sold (2,393) 82 (2,311) Loans, net of unearned income 22,523 3,846 26,369 Restricted investment in bank stocks 142 — 142 Total Interest Income 22,852 6,002 28,854 INTEREST EXPENSE: Interest-Bearing Deposits: Interest-bearing demand 3,851 (1,357) 2,494 Money market 1,753 (1,736) 17 Savings 50 837 887 Time (795) (3,381) (4,176) Total Interest-Bearing Deposits 4,859 (5,637) (778) Short-term borrowings 1,154 (63) 1,091 Long-term debt (351) (3) (354) Subordinated debt (919) — (919) Total Interest Expense 4,743 (5,703) (960) NET INTEREST INCOME $ 18,109 $ 11,705 $ 29,814 For the six months ended June 30, 2026, net interest income was $120.5 million compared to net interest income of $90.7 million for the six months ended June 30, 2025. FTE net interest income was $121.0 million for the six months ended June 30, 2026, an increase of $29.8 million, or 32.7%, compared to the same period in 2025. The tax-equivalent net interest margin for the six months ended June 30, 2026 was 3.94% compared to 3.41% for the same period in 2025, representing a 53 bp increase, primarily reflecting lower funding costs from the repricing of interest-bearing deposits and short-term borrowings, as well as lower long-term debt balances. The higher yields and the growth in interest-earning assets contributed $22.9 million and $6.0 million, respectively, to the increase in interest income. The yield on interest-earning assets increased 21 bps to 5.88% for the six months ended June 30, 2026 compared to 5.67% for the same period of 2025. Average interest-earning assets increased $22.4 million, or 14.8%, during the six months ended June 30, 2026 compared to the same period of 2025. Average investment securities increased $167.8 million, or 26.0%, and the yield on those investment securities increased 55 bps during the six months ended June 30, 2026, contributing $2.6 million and $2.1 million, respectively, to interest income. Average loans increased $744.2 million, and the yield on those loans increased 15 bps, contributing $22.5 million and $3.8 million, respectively, to the increase in interest income. Interest expense decreased $1.0 million during the first six months of 2026 compared to the same period of 2025. The rate on interest-bearing liabilities decreased from 2.91% for the first six months of 2025 to 2.49% for the first six months of 56 Table of Contents MID PENN BANCORP, INC. 2026. The decrease in the average rate primarily reflected the repricing of interest-bearing deposits and short term borrowings, as well as lower long term debt balances. Mid Penn continued to offer competitive deposit rates to retain and attract customer deposits. The average rate paid on interest-bearing deposits decreased 42 bps, during the six months ended June 30, 2026, compared to the same period in 2025, reducing interest expense by $5.6 million. Provision for Credit Losses - Loans The provision for credit losses on loans was $557 thousand for the three months ended June 30, 2026 compared to a provision of $2.2 million for the three months ended June 30, 2025. The decrease in provision was primarily driven by the Day 1 allowance on William Penn loans acquired on April 30, 2025. This amount reflects accounting guidance in effect prior to Mid Penn's adoption of ASU 2025-08, under which the allowance for certain purchased loans was recognized through the provision for credit losses. The provision for credit losses on loans was $2.2 million for the six months ended June 30, 2026 compared to a provision of $2.6 million for the same period in 2025. The decrease for the six months ended June 30, 2026 was primarily attributable to improved macroeconomic assumptions, partially offset by higher qualitative adjustments across several segments of the portfolio. Noninterest Income For the three months ended June 30, 2026, noninterest income totaled $10.6 million, an increase of $4.4 million, or 72.3%, compared to noninterest income of $6.1 million for the three months ended June 30, 2025. The increase is primarily due to a $2.5 million increase in fiduciary and wealth management, reflecting the Cumberland Advisors acquisition, a $550 thousand increase in earnings from the cash surrender value of life insurance, a $443 thousand increase in mortgage banking, and a $690 thousand increase in other noninterest income. The following table and explanations that follow provide additional analysis of noninterest income: Three Months Ended June 30, (Dollars in thousands) 2026 2025 $ Variance % Variance Fiduciary and wealth management $ 3,891 $ 1,406 $ 2,485 176.7 % ATM debit card interchange 1,169 958 211 22.0 Service charges on deposits 632 652 (20) (3.1) Mortgage banking 1,119 676 443 65.5 Mortgage hedging 113 (7) 120 (1714.3) Net gain on sales of SBA loans 27 63 (36) (57.1) Earnings from cash surrender value of life insurance 1,041 491 550 112.0 Other 2,594 1,904 690 36.2 Total $ 10,586 $ 6,143 $ 4,443 72.3 % For the six months ended June 30, 2026, noninterest income totaled $20.2 million, an increase of $8.8 million, or 77.4%, compared to noninterest income of $11.4 million for the six months ended June 30, 2025. The increase was primarily driven by a $5.0 million increase in fiduciary and wealth management income, reflecting the Cumberland Advisors acquisition, a $981 thousand increase in earnings from the cash surrender value of life insurance, a $2.0 million increase in other noninterest income, including a $653 thousand increase in insurance commissions, and a $558 thousand increase in death benefits received. 57 Table of Contents MID PENN BANCORP, INC. Six Months Ended June 30, (Dollars in thousands) 2026 2025 $ Variance % Variance Fiduciary and wealth management $ 7,552 $ 2,546 $ 5,006 196.6 % ATM debit card interchange 2,204 1,877 327 17.4 Service charges on deposits 1,268 1,214 54 4.4 Mortgage banking 1,432 1,267 165 13.0 Mortgage hedging 193 (16) 209 (1306.3) Net gain on sales of SBA loans 190 120 70 58.3 Earnings from cash surrender value of life insurance 1,746 765 981 128.2 Other 5,605 3,609 1,996 55.3 Total $ 20,190 $ 11,382 $ 8,808 77.4 % Noninterest Expense For the three months ended June 30, 2026, noninterest expense totaled $47.8 million, a decrease of $31 thousand, or 0.1%, compared to noninterest expense of $47.8 million for the same period in 2025. The decrease was primarily driven by a $10.9 million decrease in merger and acquisition expenses, partially offset by a $6.2 million increase in salaries and employee benefits, a $1.2 million increase in legal and professional fees, a $1.1 million increase in intangible amortization, a $883 thousand increase in software licensing, and a $526 thousand increase in occupancy expenses. The following table and explanations that follow provide additional analysis of noninterest expense: Three Months Ended June 30, (Dollars in thousands) 2026 2025 $ Variance % Variance Salaries and employee benefits $ 26,945 $ 20,753 $ 6,192 29.8 % Software licensing and utilization 4,155 3,272 883 27.0 Occupancy expense, net 2,891 2,365 526 22.2 Equipment expense 1,684 1,248 436 34.9 Shares tax 822 606 216 35.6 Legal and professional fees 2,157 993 1,164 117.2 ATM/card processing 689 621 68 11.0 Intangible amortization 1,819 744 1,075 144.5 FDIC Assessment 663 994 (331) (33.3) Loss on sale of foreclosed assets, net 4 — 4 — Merger and acquisition expense 103 11,011 (10,908) (99.1) Other expenses 5,835 5,191 644 12.4 Total Noninterest Expense $ 47,767 $ 47,798 $ (31) (0.1 %) For the six months ended June 30, 2026, noninterest expense totaled $99.7 million, an increase of $21.3 million, or 27.1%, compared to noninterest expense of $78.4 million for the six months ended June 30, 2025. The increase was primarily driven by a $13.2 million increase in salaries and benefits, reflecting additional staff from the William Penn, 1st Colonial, and Cumberland Advisors acquisitions. Software licensing and utilization costs, occupancy expenses, and legal and professional fees increased $1.9 million, $1.5 million, and $2.0 million, respectively, primarily reflecting Mid Penn's increased size and operational complexity following these acquisitions. Intangible amortization also increased $1.9 million. These increases were partially offset by a $3.5 million decrease in merger and acquisition expenses compared to the same period of 2025. 58 Table of Contents MID PENN BANCORP, INC. Six Months Ended June 30, (Dollars in thousands) 2026 2025 $ Variance % Variance Salaries and employee benefits $ 50,291 $ 37,062 $ 13,229 35.7 % Software licensing and utilization 7,756 5,846 1,910 32.7 Occupancy expense, net 6,145 4,639 1,506 32.5 Equipment expense 3,237 2,342 895 38.2 Shares tax 1,786 1,525 261 17.1 Legal and professional fees 3,846 1,819 2,027 111.4 ATM/card processing 1,446 1,354 92 6.8 Intangible amortization 3,119 1,172 1,947 166.1 FDIC Assessment 1,463 1,984 (521) (26.3) Loss/(gain) on sale of foreclosed assets, net 495 (28) 523 N/M Merger and acquisition expense 7,826 11,325 (3,499) (30.9) Other expenses 12,315 9,400 2,915 31.0 Total Noninterest Expense $ 99,725 $ 78,440 $ 21,285 27.1 % Income Taxes The provision for income taxes was $5.9 million for the three months ended June 30, 2026 compared to a benefit of $480 thousand for the same period in 2025. The provision for income taxes was $8.5 million and $2.6 million for the six months ended June 30, 2026 and 2025, respectively. The provision for income taxes for the six months ended June 30, 2026 and 2025 reflects a combined Federal and State effective tax rate of 21.8% and 12.2%, respectively. Generally, Mid Penn’s effective tax rate is below the federal statutory rate due to earnings on tax-exempt loans, investments, and earnings from the cash surrender value of life insurance, as well as the impact of federal income tax credits, including those awarded from Mid Penn’s low-income housing investments. The effective tax rate for the current period was higher than the federal statutory rate primarily due to the impact of state income taxes. This increase was driven by changes in the Corporation's state apportionment resulting from the acquisition of 1st Colonial, resulting in a higher proportion of income subject to higher state tax rates. The realization of Mid Penn’s deferred tax assets is dependent on future earnings. Mid Penn currently anticipates that future earnings will be adequate to fully realize the currently recorded deferred tax assets. On July 4, 2025, the President signed H.R. 1, the “One Big Beautiful Bill Act,” into law. The legislation includes several changes to federal tax law that may affect the Corporation in future periods, including provisions related to business deductions and tax depreciation. These changes did not have a material impact on the Corporation’s federal income tax expense or liability for the three and six month periods ended June 30, 2026. Financial Condition Mid Penn’s total assets were $7.1 billion as of June 30, 2026, reflecting an increase of $929.0 million, or 15.1%, compared to total assets of $6.1 billion as of December 31, 2025. The increase was primarily driven by an increase in loans as a result of the 1st Colonial acquisition, and an increase in investment securities, partially offset by a decrease in Federal funds sold. Investment Securities Mid Penn’s investment portfolio is utilized primarily to support overall liquidity and interest rate risk management, to provide collateral supporting pledging requirements for public funds on deposit, and to generate additional interest income within reasonable risk parameters. The carrying value of total investment securities as of June 30, 2026 was $872.6 million compared to $763.6 million as of December 31, 2025. Mid Penn does not anticipate growth in the investment portfolio beyond levels necessary to support pledging requirements. 59 Table of Contents MID PENN BANCORP, INC. The following table presents the expected maturities of the investment portfolio and the weighted average yields (calculated based on historical cost): Maturing (Dollars in thousands) One Year and Less After One Year thru Five Years After Five Years Thru Ten Years After Ten Years Total As of June 30, 2026 Amount Weighted-Average Yield Amount Weighted-Average Yield Amount Weighted-Average Yield Amount Weighted-Average Yield Amount Weighted-Average Yield Available-for-sale securities, at fair value: U.S. Treasury and U.S. government agencies $ 7,363 1.61 % $ 5,349 2.89 % $ 4,122 3.10 % $ — — % $ 16,834 2.40 % Mortgage-backed U.S. government agencies — — — — 7,482 3.04 422,516 4.69 429,998 4.66 State and political subdivision obligations — — — — 3,111 2.51 679 2.23 3,790 2.45 Corporate debt securities 4,880 3.43 5,947 8.52 38,324 5.60 — — 49,151 5.72 $ 12,243 2.34 % $ 11,296 5.80 % $ 53,039 4.84 % $ 423,195 4.68 % $ 499,773 4.67 % Held-to-maturity securities, at amortized cost: U.S. Treasury and U.S. government agencies $ 18,500 1.80 % $ 130,682 1.86 % $ 74,368 2.21 % $ — — % $ 223,550 1.97 % Mortgage-backed U.S. government agencies 72 2.82 1,632 2.92 2,765 2.73 25,447 1.94 29,916 2.07 State and political subdivision obligations 50,461 3.24 33,626 2.26 14,361 2.42 8,502 2.74 106,950 2.78 Corporate debt securities — — 6,450 3.22 6,000 3.16 — — 12,450 3.19 $ 69,033 2.85 % $ 172,390 2.00 % $ 97,494 2.31 % $ 33,949 2.14 % $ 372,866 2.25 % Loans, net of unearned income Total loans, net of unearned income, as of June 30, 2026 were $5.6 billion compared to $4.9 billion as of December 31, 2025. The growth of $754.3 million, or 15.5%, since December 31, 2025 was primarily driven by the acquisition of 1st Colonial, which contributed to an increase in commercial real estate loans of $387.5 million, an increase in residential mortgages of $336.2 million, an increase in construction loans of $22.7 million, and an increase in commercial and industrial loans of $8.4 million. 60 Table of Contents MID PENN BANCORP, INC. June 30, 2026 December 31, 2025 Change in Balance (Dollars in thousands) Balance % of Total Loans Balance % of Total Loans $ % Commercial real estate CRE Nonowner Occupied $ 1,599,855 28.5 % $ 1,364,040 28.1 % $ 235,815 17.3 % CRE Owner Occupied 830,915 14.8 718,864 14.7 112,051 15.6 Multifamily 446,216 7.9 419,267 8.6 26,949 6.4 Farmland 240,517 4.3 227,816 4.7 12,701 5.6 Total Commercial Real Estate 3,117,503 55.5 2,729,987 56.1 387,516 14.2 Commercial and industrial 728,431 13.0 720,031 14.8 8,400 1.2 Construction Residential Construction 87,934 1.5 85,299 1.8 2,635 3.1 Other Construction 330,502 5.9 310,390 6.3 20,112 6.5 Total Construction 418,436 7.4 395,689 8.1 22,747 5.7 Residential Mortgage 1-4 Family 1st Lien 574,948 10.2 417,421 8.6 157,527 37.7 1-4 Family Rental 470,501 8.4 410,965 8.5 59,536 14.5 HELOC and Junior Liens 297,241 5.3 178,116 3.7 119,125 66.9 Total Residential Mortgage 1,342,690 23.9 1,006,502 20.8 336,188 33.4 Consumer 10,109 0.2 10,629 0.2 (520) (4.9) $ 5,617,169 100.0 % $ 4,862,838 100.0 % $ 754,331 15.5 % The majority of the Bank's loan portfolio is to businesses and individuals located within the Bank's primary market area, which consists principally of central and southeastern Pennsylvania, along with select counties in New Jersey. Commercial real estate, construction, and land development loans are collateralized mainly by mortgages on the income-producing real estate or land involved. Commercial, industrial, and agricultural loans are primarily made to business entities and may be secured by business assets, including commercial real estate, or may be unsecured. Residential real estate loans are secured by liens on the residential property. Consumer loans include installment loans, lines of credit and home equity loans. The Bank has no significant concentration of credit to any one borrower. The Bank’s highest concentration of credit by loan type is in commercial real estate. Credit risk is managed through portfolio diversification, underwriting policies and procedures, and loan monitoring practices. Lenders are provided with detailed underwriting policies for all types of credit risks accepted by the Bank and must obtain appropriate internal approvals for credit extensions. The Bank also maintains strict documentation requirements and robust credit quality assurance practices to identify credit portfolio weaknesses as early as possible, so any exposures that are discovered might be mitigated or potential losses reduced. Most of the Bank's loans are secured by real estate, and the value of this collateral is dependent on and subject to change based on real estate market conditions within its market area. 61 Table of Contents MID PENN BANCORP, INC. The following table presents the commercial real estate portfolio by property type along with the weighted average loan to value: (Dollars in thousands) June 30, 2026 December 31, 2025 Commercial Real Estate Balance % of portfolio Weighted-Average LTV (2) Balance % of portfolio Weighted-Average LTV (2) Owner Occupied (1) $ 830,915 26.7 % N/A $ 718,864 26.3 % N/A Farmland (1) 240,517 7.7 N/A 227,816 8.3 N/A Multifamily 446,216 14.2 62.9 419,267 15.5 53.3 Non Owner Occupied Retail 453,763 14.6 50.1 429,095 15.7 50.4 Office 364,012 11.7 67.5 289,650 10.6 61.4 Industrial 195,595 6.3 49.8 177,822 6.5 48.0 Hospitality 222,408 7.1 49.3 158,667 5.8 47.1 Flex 55,853 1.8 46.6 46,432 1.7 47.2 Mobile Home Park 23,027 0.7 54.0 18,763 0.7 56.4 Health Care 24,398 0.8 60.5 11,870 0.4 52.8 Other Property Types 260,799 8.4 57.1 231,741 8.5 54.7 Total Commercial Real Estate $ 3,117,503 100.0 % 56.7 % $ 2,729,987 100.0 % 52.9 % (1) LTV not available for Owner Occupied and Farmland properties. (2) Weighted average Loan to Value is calculated based on estimated current market values of the properties. Maturity distribution by contractual maturity date and rate sensitivity information related to the loan portfolio is reflected in the table below: (In thousands) As of June 30, 2026 One Year and Less One to Five Years Five to Fifteen Years Over Fifteen Years Total Commercial real estate CRE Nonowner Occupied $ 174,069 $ 590,785 $ 519,310 $ 315,691 $ 1,599,855 CRE Owner Occupied 42,804 151,148 338,919 298,044 830,915 Multifamily 87,969 130,191 113,463 114,593 446,216 Farmland 1,242 11,991 71,058 156,226 240,517 Total Commercial real estate 306,084 884,115 1,042,750 884,554 3,117,503 Commercial and industrial 36,118 269,975 159,679 262,659 728,431 Construction Residential Construction 60,172 23,555 1,032 3,175 87,934 Other Construction 136,449 123,983 54,305 15,765 330,502 Total Construction 196,621 147,538 55,337 18,940 418,436 Residential mortgage 1-4 Family 1st Lien 8,995 27,097 104,509 434,347 574,948 1-4 Family Rental 50,488 54,934 159,157 205,922 470,501 HELOC and Junior Liens 3,571 15,780 48,521 229,369 297,241 Total Residential Mortgage 63,054 97,811 312,187 869,638 1,342,690 Consumer 3,523 1,393 2,184 3,009 10,109 Total loans held in portfolio $ 605,400 $ 1,400,832 $ 1,572,137 $ 2,038,800 $ 5,617,169 Fixed interest rates: 62 Table of Contents MID PENN BANCORP, INC. Commercial real estate CRE Nonowner Occupied $ 128,132 $ 211,932 $ 60,942 $ 1,973 $ 402,979 CRE Owner Occupied 30,727 105,193 25,301 4,482 165,703 Multifamily 47,593 64,382 7,757 — 119,732 Farmland 364 8,457 3,639 — 12,460 Total Commercial real estate 206,816 389,964 97,639 6,455 700,874 Commercial and industrial 18,928 166,464 28,139 7,756 221,287 Construction Residential Construction 4,958 10,337 — 2,903 18,198 Other Construction 13,958 21,493 686 657 36,794 Total Construction 18,916 31,830 686 3,560 54,992 Residential mortgage 1-4 Family 1st Lien 7,764 17,134 80,624 360,489 466,011 1-4 Family Rental 18,282 40,872 14,175 12,922 86,251 HELOC and Junior Liens 862 9,568 33,763 2,897 47,090 Total Residential Mortgage 26,908 67,574 128,562 376,308 599,352 Consumer 1,823 1,393 2,039 794 6,049 Total fixed interest rates $ 273,391 $ 657,225 $ 257,065 $ 394,873 $ 1,582,554 Floating interest rates: Commercial real estate CRE Nonowner Occupied $ 45,937 $ 378,853 $ 458,368 $ 313,718 $ 1,196,876 CRE Owner Occupied 12,077 45,955 313,618 293,562 665,212 Multifamily 40,376 65,809 105,706 114,593 326,484 Farmland 878 3,534 67,419 156,226 228,057 Total Commercial real estate 99,268 494,151 945,111 878,099 2,416,629 Commercial and industrial 17,190 103,511 131,540 254,903 507,144 Construction Residential Construction 55,214 13,218 1,032 272 69,736 Other Construction 122,491 102,490 53,619 15,108 293,708 Total Construction 177,705 115,708 54,651 15,380 363,444 Residential mortgage 1-4 Family 1st Lien 1,231 9,963 23,885 73,858 108,937 1-4 Family Rental 32,206 14,062 144,982 193,000 384,250 HELOC and Junior Liens 2,709 6,212 14,758 226,472 250,151 Total Residential Mortgage 36,146 30,237 183,625 493,330 743,338 Consumer 1,700 — 145 2,215 4,060 Total floating interest rates 332,009 743,607 1,315,072 1,643,927 4,034,615 Total fixed and floating interest rates $ 605,400 $ 1,400,832 $ 1,572,137 $ 2,038,800 $ 5,617,169 63 Table of Contents MID PENN BANCORP, INC. Credit Quality, Credit Risk, and Allowance for Credit Losses Mid Penn’s ACL methodology for loans is based upon guidance within FASB ASC Subtopic 326-20, "Financial Instruments – Credit Losses – Measured at Amortized Cost," as well as regulatory guidance from the FDIC, the Bank's primary federal regulator. The ACL is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Credit quality within the loan portfolio is continuously monitored by management and is reflected within the ACL for loans. The ACL is an estimate of expected losses inherent within Mid Penn’s existing loan portfolio. The ACL is adjusted through the provision for credit losses and reduced by the charge off of loan amounts, net of recoveries. The loan loss estimation process involves procedures to appropriately consider the unique characteristics of Mid Penn’s loan portfolio segments. When computing allowance levels, credit loss assumptions are estimated using a model that categorizes loan pools based on loss history, delinquency status and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Evaluations of the portfolio and individual credits are inherently subjective, as they require estimates, assumptions and judgments as to the facts and circumstances of particular situations. Determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. In future periods, evaluations of the overall loan portfolio, in light of the factors and forecasts then prevailing, may result in significant changes in the allowance and credit loss expense. For a complete description of Mid Penn’s ACL-loans methodology and the quantitative and qualitative factors included in the calculation, please see "Note 4 – Loans and Allowance for Credit Losses – Loans" included in Part I. Item 1. – Financial Statements of this report. Changes in the ACL-loans are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2026 2025 2026 2025 Balance, beginning of period $ 41,105 $ 35,838 $ 36,091 $ 35,514 Purchased credit deteriorated loans — 343 977 343 Purchased seasoned loans — — 3,438 — Loans charged off during period (61) (909) (1,214) (924) Recoveries of loans previously charged off 39 98 143 116 Net charge-offs (22) (811) (1,071) (808) Provision for credit losses - loans (1)(2) 557 2,245 2,205 2,566 Balance, end of period $ 41,640 $ 37,615 $ 41,640 $ 37,615 Ratio of net charge-offs to average loans outstanding (annualized) 0.002 % 0.069 % 0.040 % 0.035 % Ratio of ACL - loans to net loans at end of period 0.74 % 0.78 % 0.74 % 0.78 % (1) Includes a $3.4 million initial provision related to non-PCD loans from the 1st Colonial acquisition in the second quarter of 2026 . (2) Includes a $2.3 million initial provision related to non-PCD loans from the William Penn acquisition in the second quarter of 2025. 64 Table of Contents MID PENN BANCORP, INC. The following table presents the change in nonperforming asset categories as of June 30, 2026, December 31, 2025, and June 30, 2025. (Dollars in thousands) June 30, 2026 December 31, 2025 June 30, 2025 Nonperforming Assets: Total nonaccrual loans $ 28,420 $ 22,951 $ 18,216 Foreclosed real estate 8,390 7,806 9,816 Total nonperforming assets 36,810 30,757 28,032 Accruing loans 90 days or more past due 213 — — Total risk elements $ 37,023 $ 30,757 $ 28,032 Nonaccrual loans as a percentage of total loans outstanding 0.51 % 0.47 % 0.38 % Nonperforming assets as a percentage of total loans outstanding and foreclosed real estate 0.65 % 0.63 % 0.58 % Ratio of ACL-loans to nonperforming loans 146.52 % 157.25 % 206.49 % Total nonperforming assets were $36.8 million at June 30, 2026, an increase compared to nonperforming assets of $30.8 million at December 31, 2025. The increase during the second quarter of June 30, 2026 was primarily related to the addition of $7.4 million of nonaccrual loans acquired in the 1st Colonial acquisition, partially offset by payoffs and paydowns in the second quarter of 2026. Delinquency, measured as loans past due 30 days or more, including loans on nonaccrual status, was 0.71% of total loans at June 30, 2026, compared to 0.69% and 0.58% as of December 31, 2025 and June 30, 2025, respectively. Goodwill Mid Penn evaluates goodwill for impairment annually, or more frequently if events or changes in circumstances indicate that impairment may be present. Significant negative industry or economic trends, as well as changes in the Corporation's stock price, could represent potential indicators of impairment. Management considered relevant factors, including overall market conditions, and trends in the Corporation's stock price, and concluded that no triggering events had occurred as of June 30, 2026. Management will continue to monitor these factors in future periods. Mid Penn's annual impairment test is scheduled to be conducted as of October 31, 2026. Deposits Total deposits increased $738.6 million, or 14.2%, from $5.2 billion on December 31, 2025, to $6.0 billion at June 30, 2026. The growth was primarily driven by the acquisition of 1st Colonial deposits of $747.1 million. These deposits contributed to a $470.4 million increase in interest-bearing accounts, a $139.4 million increase in noninterest-bearing accounts, and a $128.9 million increase in time deposits. 65 Table of Contents MID PENN BANCORP, INC. Average balances and average interest rates applicable to deposits by major classification: June 30, 2026 December 31, 2025 Change (Dollars in thousands) Balance Rate Balance Rate $ % Noninterest-bearing demand deposits $ 892,547 0.00 % $ 816,429 0.00 % $ 76,118 9.32 % Interest-bearing demand deposits 1,522,053 1.61 1,179,007 1.77 343,046 29.10 Money market 1,230,277 2.51 1,176,166 2.79 54,111 4.60 Savings 398,950 0.51 306,431 0.08 92,519 30.19 Time 1,624,228 3.73 1,674,557 4.05 (50,329) (3.01) $ 5,668,055 2.08 % $ 5,152,590 2.36 % $ 515,465 10.00 % As of June 30, 2026, uninsured deposits were approximately $1.2 billion, or 20.0% of total deposits compared to $1.0 billion, or 19.2%, of total deposits as of December 31, 2025. The maturities of the uninsured time deposits as of June 30, 2026 were as follows: (In thousands) 2026 Three months or less $ 200,920 Over three months to six months 129,040 Over six months to twelve months 69,609 Over twelve months 22,381 $ 421,950 Borrowings Total short-term borrowings increased $116.7 million, or 560.0%, from December 31, 2025 to June 30, 2026. The increase in short-term borrowings was driven by our objective to maintain a strong level of unencumbered liquid assets, ensuring the availability of high-quality liquidity to meet potential near-term obligations. Total long-term borrowings were $2.9 million at June 30, 2026, a decrease of $20.2 million from December 31, 2025. Liquidity Mid Penn’s objective is to maintain adequate liquidity to meet funding needs at a reasonable cost and to provide contingency plans to meet unanticipated funding needs or a loss of funding sources, while minimizing interest rate risk. Adequate liquidity provides resources for credit needs of borrowers, for depositor withdrawals, and for funding corporate operations. Sources of liquidity are as follows: • a growing core deposit base; • proceeds from the sale or maturity of investment securities; • payments received on loans and mortgage-backed securities; • overnight correspondent bank borrowings on various credit lines; and • borrowing capacity available from the FHLB and the Federal Reserve Discount Window available to Mid Penn. Mid Penn believes its core deposits are generally stable even in periods of changing interest rates. Liquidity is measured and monitored daily, allowing management to better understand and react to balance sheet trends. These measurements indicate that liquidity generally remains stable and exceeds our minimum defined levels of adequacy. Other than the trends of continued competitive pressures and volatile interest rates, and the uncertain impact of the current inflationary environment, there are no known demands, commitments, events, or uncertainties that will result in, or that are reasonably likely to result in, liquidity increasing or decreasing in any material way. On at least a quarterly basis, a comprehensive liquidity analysis is reviewed by the Asset Liability Committee and Board of Directors. The analysis provides a summary of the current liquidity measurements, projections, and future liquidity positions given various levels of liquidity stress. Management also maintains a detailed Contingency Funding Plan designed to respond to overall stress in the financial condition of the banking industry or a prospective liquidity problem specific to Mid Penn. 66 Table of Contents MID PENN BANCORP, INC. The Consolidated Statements of Cash Flows provide additional information. Mid Penn’s operating activities during the six months ended June 30, 2026 provided $46.8 million in cash, mainly due to net income. Cash used in investing activities during the six months ended June 30, 2026 was $133.1 million, mainly the result of a net increase in loans. Cash provided by financing activities during the six months ended June 30, 2026 totaled $73.9 million, primarily the result of a net decrease in deposits and proceeds from short-term borrowings. Regulatory Capital Mid Penn and the Bank are subject to regulatory capital requirements administered by banking regulators. Failure to meet minimum capital requirements can trigger certain mandatory, and possibly additional discretionary, actions by the regulators that if, undertaken, could have a direct material effect on Mid Penn's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities, and certain off-balance sheet items as calculated under regulatory account practices. The Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Minimum regulatory capital requirements established by Basel III rules require Mid Penn and the Bank to: • Meet a minimum Common Equity Tier I capital ratio of 4.5% of risk-weighted assets; • Meet a minimum Tier I capital ratio of 6.0% of risk-weighted assets; • Meet a minimum Total capital ratio of 8.0% of risk-weighted assets; • Meet a minimum Tier I leverage capital ratio of 4.0% of average assets; • Maintain a "capital conservation buffer" of 2.5% above the minimum risk-based capital requirements, which must be maintained to avoid restrictions on capital distributions and certain discretionary bonuses; and • Comply with the definition of capital to improve the ability of regulatory capital instruments to absorb losses. The Basel III Rules use a standardized approach for risk weightings that expands the risk-weighting for assets and off-balance sheet exposures from the previous 0%, 20%, 50% and 100% categories to a much larger and more risk-sensitive number of categories, depending on the nature of the assets and off-balance sheet exposures and resulting in higher risk weightings for a variety of asset categories. Banks are evaluated for capital adequacy by regulatory supervisory agencies based on the ratio of capital to risk-weighted assets and total assets. The minimum capital to risk-weighted assets requirements, including the capital conservation buffers, which became effective for Mid Penn and the Bank on January 1, 2016, are illustrated below. Mid Penn maintained the following regulatory capital ratios in comparison to regulatory requirements: June 30, 2026 December 31, 2025 Regulatory Minimum for Capital Adequacy Total Risk-Based Capital (to Risk-Weighted Assets) 13.53 % 14.32 % 10.50 % Tier I Risk-Based Capital (to Risk-Weighted Assets) 12.78 13.55 8.50 Common Equity Tier I (to Risk-Weighted Assets) 12.78 13.55 7.00 Tier I Leverage Capital (to Average Assets) 10.66 11.02 4.00 As of June 30, 2026 and December 31, 2025, regulatory capital ratios for both Mid Penn and the Bank met the definition of a "well-capitalized" institution under the regulatory framework for prompt corrective action and exceeded the minimum capital requirements under Basel III. However, future changes in regulations could increase capital requirements and may have an adverse effect on capital resources. 67 Table of Contents MID PENN BANCORP, INC. Shareholders' Equity Shareholders' equity is evaluated in relation to total assets and the risk associated with those assets, and the desire to collectively maintain and enhance shareholders’ value, and satisfactorily address regulatory capital requirements. Accordingly, capital management practices have been, and will continue to be, of paramount importance to Mid Penn. Shareholders’ equity increased by $87.8 million, or 10.8%, from $814.1 million as of December 31, 2025 to $901.9 million as of June 30, 2026, reflecting common stock issued in connection with the 1st Colonial and Cumberland Advisors acquisitions totaling $69.6 million and earnings of $30.4 million, partially offset by dividends paid of $6.2 million. 68 Table of Contents MID PENN BANCORP, INC. ITEM 3 – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK As a financial institution, Mid Penn’s primary source of market risk is interest rate risk. Interest rate risk is the exposure to fluctuations in Mid Penn’s future earnings, earnings at risk, resulting from changes in interest rates. This exposure or sensitivity is a function of the repricing characteristics of Mid Penn's portfolio of assets and liabilities. Each asset and liability reprices either at maturity or during the life of the instrument. Interest rate sensitivity is measured as the difference between the volume of assets and liabilities that are subject to repricing in a future period of time. The principal purpose of asset-liability management is to maximize current and future net interest income within acceptable levels of interest rate risk while satisfying liquidity and capital requirements. Net interest income is increased by increasing the net interest margin and by volume growth. Thus, the goal of interest rate risk management is to maintain a balance between risk and reward such that net interest income is maximized while risk is maintained at an acceptable level. Mid Penn utilizes an asset-liability management model to measure the impact of interest rate movements on its interest rate sensitivity position. Mid Penn’s management also reviews the traditional maturity gap analysis regularly. Mid Penn does not always attempt to achieve an exact match between interest sensitive assets and liabilities because it believes that an actively managed amount of interest rate risk is inherent and appropriate in the management of Mid Penn’s profitability. Modeling techniques and simulation analysis involve assumptions and estimates that inherently cannot be measured with complete precision. Key assumptions in the analyses include maturity and repricing characteristics of assets and liabilities, prepayments on amortizing assets, non-maturing deposit sensitivity, and loan and deposit pricing. These assumptions are inherently uncertain due to the timing, magnitude and frequency of rate changes and changes in market conditions and management strategies, among other factors. However, the analyses are useful in quantifying risk and provide a relative gauge of Mid Penn’s interest rate risk position over time. Management reviews interest rate risk on a quarterly basis. This analysis includes earnings scenarios whereby interest rates are increased by 100, 200, 300 and 400 bps or decreased by 100, 200, 300, and 400 bps. These scenarios, detailed in the table below, indicate that Mid Penn would experience enhanced net interest income over a one-year time frame due to upward interest rate changes, while a reduction in interest rates would result in a decline in net interest income over a one-year time frame; however, actual results could vary significantly from the calculations prepared by management. At June 30, 2026, all interest rate risk levels according to the model were within the tolerance limits of the Board-approved policy. Change in Basis Points % Change in Net Interest Income Policy Risk Limit June 30, 2026 December 31, 2025 400 10.7% 9.7% ≥ -25% 300 8.0% 7.3% ≥ -20% 200 5.4% 4.9% ≥ -15% 100 2.7% 2.4% ≥ -10% (100) (3.1)% (2.7)% ≥ -10% (200) (5.9)% (5.3)% ≥ -15% (300) (8.2)% (7.3)% ≥ -20% (400) (10.1)% (8.4)% ≥ -25% 69 Table of Contents MID PENN BANCORP, INC. ITEM 4 – CONTROLS AND PROCEDURES Evaluation of Disclosure Controls and Procedures Mid Penn maintains controls and procedures designed to ensure that information required to be disclosed in the reports that Mid Penn files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized, and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Based upon their evaluation of those controls and procedures as of June 30, 2026, Mid Penn’s management, with the participation of the Principal Executive Officer and Principal Financial Officer, concluded that the disclosure controls and procedures were effective as of such date. Changes in Internal Controls Except for changes in connection with the ongoing integration of 1st Colonial Bancorp, Inc., there were no changes in Mid Penn’s internal control over financial reporting during the six months ended June 30, 2026 that have materially affected, or are reasonable likely to materially affect, Mid Penn’s internal control over financial reporting. 70 Table of Contents MID PENN BANCORP, INC. PART II – OTHER INFORMATION ITEM 1 – LEGAL PROCEEDINGS Mid Penn and its subsidiaries are subject to various pending and threatened legal proceedings or other matters arising out of the normal conduct of business in which claims for monetary damages are asserted. As of the date of this report, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of such pending or threatened matters will be material to Mid Penn’s consolidated financial position. On at least a quarterly basis, Mid Penn assesses its liabilities and contingencies in connection with such matters. For those matters where it is probable that Mid Penn will incur losses and the amounts of the losses can be reasonably estimated, Mid Penn records an expense and corresponding liability in its consolidated financial statements. To the extent such matters could result in exposure in excess of that liability, the amount of such excess is not currently estimable. The range of losses for matters where an exposure is not currently estimable or considered probable is not believed to be material in the aggregate. This is based on information currently available to Mid Penn and involves elements of judgment and significant uncertainties. While Mid Penn does not believe that the outcome of pending or threatened litigation or other matters will be material to Mid Penn’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future. In addition, regardless of the ultimate outcome of any such legal proceeding, inquiry or investigation, any such matter could cause Mid Penn to incur additional expenses, which could be significant, and possibly material, to Mid Penn’s results of operations in any future period. In addition, management does not know of any material proceedings contemplated by governmental authorities against Mid Penn or any of its properties. ITEM 1A – RISK FACTORS Management has reviewed the risk factors that were previously disclosed in the 2025 Annual Report and subsequent reports filed with the SEC to determine if there were material changes applicable to the six months ended June 30, 2026. Aside from the following risk factor, there have been no material changes to the risk factors that were previously disclosed in the 2025 Annual Report. Geopolitical instability and armed conflicts may adversely impact our business, financial condition, and results of operations. Geopolitical instability, armed conflicts, and changes in trade policy, including tariffs and retaliatory measures, may contribute to financial market volatility and broader economic uncertainty. Escalation of such conflicts could disrupt energy and commodity markets, increase inflationary pressures, and affect interest rate conditions. These conditions may adversely affect the economies in which we operate and our customers' financial condition, which could impact their ability to repay loans, reduce demand for credit, and negatively affect collateral values, resulting in increased credit losses within our loan portfolio. Geopolitical developments may also lead to additional economic sanctions, trade restrictions, or other regulatory requirements, increasing compliance costs and operational complexity. Such developments may also increase risks associated with cyber threats, fraud, or disruptions involving critical infrastructure or third-party service providers. In addition, heightened uncertainty may affect assumptions and estimates used in evaluating allowance for credit losses, including qualitative factors, which could contribute to increased provision expense. The extent and duration of these conditions and their impact on our business, financial condition, and results of operations remain uncertain. 71 Table of Contents MID PENN BANCORP, INC. ITEM 2 – UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS (1) None. (2) None. Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar amount of Shares That May Yet Be Purchased April 1 - April 30, 2026 1,000 $ 33.28 520,891 $ 37,668,835 May 1 - May 31, 2026 31,000 32.28 551,891 36,668,155 June 1 - June 30, 2026 44,000 $ 33.07 595,891 $ 35,213,075 Total 76,000 $ 32.78 Mid Penn adopted a treasury stock repurchase program ("Program") effective March 19, 2020. On April 21, 2026, the Board of Directors renewed the Program through April 30, 2027 and approved an increase in repurchase authorization permitting the repurchase of up to an additional $50.0 million of Mid Penn’s outstanding common stock. The Program permits repurchases of its common stock through open market transactions (including pursuant to trading plans adopted under SEC Rule 10b5-1) or privately negotiated transactions. Repurchases under the Program are made at the discretion of management and are subject to market conditions and other factors. There is no guarantee as to the exact number of shares that Mid Penn may repurchase. The Program is able to be modified, suspended or terminated at any time, at 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 Program does not obligate Mid Penn to repurchase any shares. During the three months ended June 30, 2026, Mid Penn repurchased 76,000 shares of common stock at an average price of $32.78. No shares were repurchased in the first quarter of 2026. As of June 30, 2026, Mid Penn has repurchased 595,891 shares of common stock under the Program. 72 Table of Contents MID PENN BANCORP, INC. ITEM 3 – DEFAULTS UPON SENIOR SECURITIES None. ITEM 4 – MINE SAFETY DISCLOSURES Not Applicable. ITEM 5 – OTHER INFORMATION During the three months ended June 30, 2026, none of Mid Penn’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Mid Penn’s common stock that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” as such term is defined in Item 408(c) of Regulation S-K. 73 Table of Contents MID PENN BANCORP, INC. ITEM 6 – EXHIBITS 2.1 Agreement and Plan of Merger, dated as of September 24, 2025, by and between 1st Colonial Bancorp, Inc. and Mid Penn Bancorp, Inc. (Incorporated by reference to Exhibit 2.1 to Registrant's Current Report on Form 8-K filed with the SEC on September 24, 2025.) . Agreement and Plan of Merger, dated as of March 29, 2017, by and among Mid Penn Bancorp, Inc., Mid Penn Bank, and The Scottdale Bank and Trust Company (Incorporated by reference to Exhibit 2.1 to Registrant’s Current Report on Form 8-K filed on March 30, 2017.) 3.1 The Registrant’s Articles of Incorporation. (Incorporated by reference to Exhibit 3.1 to Registrant's Quarterly Report on form 10-Q with the SEC on May 9, 2023.) 3.2 The Registrant’s By-laws . (Incorporated by reference to Exhibit 3.1 to Registrant’s Annual Report on Form 10-K filed with the SEC on March 28, 2024.) 31.1 Certification of Principal Executive Officer Pursuant to Exchange Act Rules 13a-14(a)/15d-14(a) as added by Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of Principal Financial Officer Pursuant to Exchange Act Rules 13a-14(a)/15d-14(a) as added by Section 302 of the Sarbanes-Oxley Act of 2002. 32 Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350 as added by Section 906 of the Sarbanes-Oxley Act of 2002. 101.SCH Inline XBRL Taxonomy Extension Schema Document. 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document. 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document. 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document. 104 Cover Page Interactive Data File (formatted in inline XBRL and contained in Exhibit 101). 74 Table of Contents MID PENN BANCORP, INC. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Mid Penn Bancorp, Inc. (Registrant) By: /s/ Rory G. Ritrievi Rory G. Ritrievi President and CEO (Principal Executive Officer) Date: August 6, 2026 By: /s/ Justin T. Webb Justin T. Webb Chief Financial Officer (Principal Financial Officer) Date: August 6, 2026 75