What changed in this filing

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Item 1. Financial Statements

2026-08-06 compared with 2026-05-07 · 319 added, 250 removed, 1134 unchanged (33% of the section changed)

1 unchanged sentence

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in thousands, except per share data) March 31, 2026 December 31, 2025

(Dollars in thousands, except per share data) June 30, 2026 December 31, 2025

Cash and due from banks $ 55,168 $ 46,695

37 unchanged sentences

Common stock, par value $ 1.00 per share;

40,000,000 shares authorized at March 31, 2026 and December 31, 2025;

25,816,654 issued as of March 31, 2026 and 23,567,094 as of December 31, 2025;

25,296,763 outstanding as of March 31, 2026 and 23,047,203 as of December 31, 2025.

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

3 unchanged sentences

Treasury stock, at cost;

519,891 shares as of March 31, 2026 and December 31, 2025.

603,311 shares at June 30, 2026 and 519,891 at December 31, 2025

( 15,002 ) ( 12,292 )

4 unchanged sentences

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

Three Months Ended March 31,

Three Months Ended June 30, Six Months Ended June 30,

(Dollars in thousands, except per share data) 2026 2025 2026 2025

52 unchanged sentences

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

Three Months Ended March 31,

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

2 unchanged sentences

Unrealized (losses)/gains arising during the period on available-for-sale securities, net of income tax ( 872 ) 2,755 ( 2,818 ) 6,411

( 1,946 ) 3,656

Unrealized holding gains/(losses) arising during the period on interest rate derivatives used in cash flow hedges, net of income tax.

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)

Reclassification adjustment for settlement gains and activity related to benefit plans, net of income tax.

( 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 on defined benefit plans during the period.

(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.

23 unchanged sentences

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.

MID PENN BANCORP, INC.

Common Stock Additional

15 unchanged sentences

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.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Three Months Ended March 31,

Six Months Ended

(In thousands) 2026 2025

8 unchanged sentences

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 )

5 unchanged sentences

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 )

4 unchanged sentences

Deferred income tax expense 2,115 1,451

Increase/(decrease) in accrued interest receivable 740 ( 417 )

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/(decrease) in operating lease liability 1,700 ( 649 )

Increase/(decrease) in other liabilities 4,544 ( 4,162 )

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

3 unchanged sentences

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

1 unchanged sentence

Net cash received from acquisitions 162,829 218,112

Net increase in loans ( 65,628 ) ( 50,465 )

Net (increase)/decrease in loans ( 174,668 ) 2,276

Purchases of bank premises and equipment ( 2,593 ) ( 4,483 )

2 unchanged sentences

Proceeds from bank-owned life insurance 2,022 444

Earnings on bank-owned life insurance — ( 83 )

Net change in investments in tax credits and other partnerships 1,113 1,202

Net Cash Provided by (Used in) Investing Activities 33,918 ( 37,282 )

Net Cash (Used in)/Provided by Investing Activities $ ( 133,057 ) $ 99,920

MID PENN BANCORP, INC.

1 unchanged sentence

Financing Activities:

Net increase in deposits 9,393 42,275

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 )

2 unchanged sentences

Long-term debt repayment ( 20,162 ) ( 157 )

Net Cash (Used in)/Provided by Financing Activities ( 6,101 ) 61,454

Net increase in cash and cash equivalents 42,272 36,690

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

12 unchanged sentences

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.

11 unchanged sentences

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.

As of March 31, 2026, the accounts and activities of these nonbank subsidiaries were not material to warrant separate disclosure or segment reporting.

As a result, Mid Penn has only one reportable segment for financial reporting purposes.

Mid Penn has only one reportable segment for financial reporting purposes.

All intercompany accounts and transactions have been eliminated in consolidation.

12 unchanged sentences

Accounting Standards Adopted in 2026

ASU 2025-08 - The FASB issued ASU 2025-08, Financial Instruments - Credit Losses (Topic 326):

Effective January 1, 2026, the Corporation adopted ASU 2025-08, Financial Instruments - Credit Losses (Topic 326):

Purchased Loans .

The amendments in this ASU apply to all entities subject to the guidance in Topic 326, including public business entiti es, private companies, and not-for-profit entities.

The amendments in this ASU are effective for all entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods.

The amendments in this ASU should be applied prospectively to loans that are acquired on or after the initial application date.

Early adoption is permitted in an interim or annual reporting period in which financial statements have not yet been issued or made available for issuance .

Effective January 1, 2026, the Corporation adopted ASU 2025-08.

Adoption resulted in the recognition of an initial allowance for credit losses on applicable purchased loans, including purchased seasoned loans ("PSL loans"), and will affect the accounting for future loan acquisitions.

The impact of adoption is reflected in the ACL rollforward in "Note 4 - Loans and Allowance for Credit Losses".

27 unchanged sentences

common stock $ 1.6 million in cash and issued 127,009 shares of Mid Penn common stock.

As of March 31, 2026, Cumberland had approximately $ 2.8 billion in assets under management.

In connection with the acquisition, Cumberland was merged into a newly formed Mid Penn acquisition subsidiary and now operates as Cumberland Advisors, LLC.

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 $ 544 thousand for the three months ended March 31, 2026, which is included in noninterest expense in the Consolidated Statements of Income.

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.

7 unchanged sentences

Goodwill is not deductible for income tax purposes.

Mid Penn incurred merger-related expenses related to 1st Colonial acquisition of $ 7.2 million for the three months ended March 31, 2026, which are included in noninterest expense in the Consolidated Statements of Income.

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.

45 unchanged sentences

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.

From the acquisition date of February 27, 2026 through March 31, 2026, 1st Colonial contributed approximately $ 2.5 million of total revenue and $ 1.3 million of net income to Mid Penn's consolidated results for the three months ended March 31, 2026.

The following supplemental pro forma information presents selected financial results for the three months ended March 31, 2026 and 2025 as if the merger of 1st Colonial was effective as of January 1, 2025.

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 March 31,

(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

9 unchanged sentences

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 three months ended March 31, 2026.

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.

5 unchanged sentences

AFS Securities

As of March 31, 2026, the fair value of AFS securities totaled $ 484.1 million.

As of March 31, 2026, no securities were identified that violated credit loss triggers;

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 March 31, 2026, the Corporation recorded no allowance for credit losses on any available-for-sale debt securities.

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 March 31, 2026, accrued interest receivable totaled $ 3.1 million for AFS securities, and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.

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 March 31, 2026, Mid Penn’s HTM securities totaled $ 341.0 million.

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 March 31, 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.

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 March 31, 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 March 31, 2026.

As of March 31, 2026, the Corporation recorded no allowance for credit losses on any held-to-maturity debt securities.

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 March 31, 2026, accrued interest receivable totaled $ 1.9 million for HTM securities and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.

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:

March 31, 2026

June 30, 2026

(In thousands) Amortized

43 unchanged sentences

See "Note 8 - Fair Value Measurement ," for additional information.

Investment securities having a fair value of $ 541.8 million as of March 31, 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.

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 $ 406.5 million as of March 31, 2026 and $ 162.5 million as of December 31, 2025.

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

March 31, 2026 Number

June 30, 2026 Number

Securities Estimated

45 unchanged sentences

Total 55 $ 235,465 $ 335 468 $ 502,551 $ 39,499 523 $ 738,016 $ 39,834

As of March 31, 2026 and December 31, 2025, the majority of the unrealized losses on securities in an unrealized loss position were attributable to U.S.

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.

2 unchanged sentences

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 March 31, 2026 and December 31, 2025, and did not record any securities losses in the respective periods ended on these dates.

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 on the sale of AFS securities as of March 31, 2026 and December 31, 2025, respectively.

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.

1 unchanged sentence

(In thousands) Available-for-sale Held-to-maturity

March 31, 2026 Amortized

June 30, 2026 Amortized

Value Amortized

9 unchanged sentences

Loans, net of unearned income, are summarized as follows by portfolio segment:

(In thousands) March 31, 2026 December 31, 2025

(In thousands) June 30, 2026 December 31, 2025

Commercial real estate

17 unchanged sentences

Total loans are stated at the amount of unpaid principal, adjusted for net deferred fees and costs.

Net deferred loan fees were $ 2.9 million and $ 2.8 million as of March 31, 2026 and December 31, 2025, respectively.

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 $ 27.5 million and $ 25.7 million as of March 31, 2026 and December 31, 2025, respectively, with no related ACL and was reported in other assets on the accompanying Consolidated Balance Sheet.

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 March 31, 2026 and December 31, 2025, are summarized as follows:

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:

MID PENN BANCORP, INC.

3 unchanged sentences

> 90 Days and

March 31, 2026

June 30, 2026

Commercial real estate

39 unchanged sentences

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.

There were no loans greater than 90 days past due and still accruing as of March 31, 2026 and December 31, 2025.

Nonaccrual loans by loan portfolio class, including loans acquired with credit deterioration, as of March 31, 2026 and December 31, 2025 are summarized as follows:

March 31, 2026 December 31, 2025

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

13 unchanged sentences

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 $ 94 thousand and $ 127 thousand during the three months ended March 31, 2026 and 2025, respectively.

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

21 unchanged sentences

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.

These loans are considered uncollectible and no longer a viable asset of the Bank.

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 cannot be reversed now or in the near future.

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:

March 31, 2026

June 30, 2026

Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized

6 unchanged sentences

Gross charge-offs — — — ( 498 ) — ( 3 ) — ( 501 )

Current period recoveries — — — — — — — —

Net charge-offs — — — ( 498 ) — ( 3 ) — ( 501 )

4 unchanged sentences

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

2 unchanged sentences

Special mention — — — — — 378 — 378

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

MID PENN BANCORP, INC.

Gross charge-offs — — — — — — — —

Current period recoveries — — — — — — — —

Net charge-offs — — — — — — — —

Pass 25,984 29,404 21,157 21,985 49,205 74,172 15,089 236,996

2 unchanged sentences

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

3 unchanged sentences

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

3 unchanged sentences

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

2 unchanged sentences

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

4 unchanged sentences

Total 1-4 Family Rental 40,302 49,615 23,495 44,515 102,417 202,190 7,967 470,501

MID PENN BANCORP, INC.

Gross charge-offs — — — — — ( 13 ) — ( 13 )

Current period recoveries — — — — — 13 — 13

Net charge-offs — — — — — — — —

3 unchanged sentences

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 )

Performing 4,102 930 1,006 702 237 658 2,449 10,084

21 unchanged sentences

Current period recoveries — — — 301 — 4 — 305

Net recoveries — — — ( 390 ) — ( 390 ) — ( 780 )

Net charge-offs — — — ( 390 ) — ( 390 ) — ( 780 )

CRE Owner Occupied

4 unchanged sentences

Gross charge-offs — ( 346 ) — — — — — ( 346 )

Net recoveries — ( 346 ) — — — — — ( 346 )

Net charge-offs — ( 346 ) — — — — — ( 346 )

Pass 37,788 4,816 62,305 156,236 68,254 86,424 3,271 419,094

47 unchanged sentences

Total $ 651,488 $ 447,833 $ 681,195 $ 941,099 $ 483,942 $ 1,198,420 $ 458,861 $ 4,862,838

MID PENN BANCORP, INC.

Mid Penn had no loans classified as "doubtful" as of March 31, 2026 and December 31, 2025.

There was $ 160 thousand and $ 567 thousand in mortgage loans for which formal foreclosure proceedings were in process at March 31, 2026 and December 31, 2025, respectively.

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

6 unchanged sentences

and vacant land.

Total collateral-dependent loans as of March 31, 2026 were $ 29.6 million.

Total collateral-dependent loans as of June 30, 2026 were $ 28.4 million.

Allowance for Credit Losses

4 unchanged sentences

The ACL - loans is adjusted through the PCL 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 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 ACL and credit loss expense.

Mid Penn estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts.

Mid Penn uses a third-party software application to calculate the quantitative portion of the ACL using a methodology and assumptions specific to each loan pool.

The qualitative portion of the allowance is based on general economic conditions and other internal and external factors affecting Mid Penn as a whole, as well as specific loans.

Factors considered include the following:

lending process, concentrations of credit, and peer group divergence.

The quantitative and qualitative portions of the allowance are added together to determine the total ACL, which reflects management’s expectations of future conditions based on reasonable and supportable forecasts.

The methodology for estimating the amount of expected credit losses reported in the ACL has two basic components:

a collective, or pooled, component for estimated expected credit losses for pools of loans that share similar risk characteristics, and an asset-specific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans.

In estimating the ACL for the collective component, loans are segregated into loan pools based on loan purpose codes and similar risk characteristics.

The commercial real estate and residential mortgage loan portfolio segments include loans for both commercial and residential properties that are secured by real estate.

The underwriting process for these loans includes analysis of the financial position and strength of both the borrower and, if applicable, guarantor, experience with similar projects in the past, market demand and prospects for successful completion of the proposed project within the established budget and schedule, values of underlying collateral, availability of permanent financing, maximum loan-to-value ratios, minimum equity requirements, acceptable amortization periods and minimum debt service coverage requirements, based on property type.

The borrower’s financial strength and capacity to repay their obligations remain the primary focus of underwriting.

Financial strength is evaluated based upon analytical tools that consider historical and projected cash flows and performance, in addition to analysis of the proposed project for income-producing properties.

Additional support offered by guarantors is also considered when applicable.

Ultimate repayment of these loans is sensitive to interest rate changes, general economic conditions, liquidity and availability of long-term financing.

MID PENN BANCORP, INC.

The commercial and industrial loan portfolio segment includes commercial loans made to many types of businesses for various purposes, such as short-term working capital loans that are usually secured by accounts receivable and inventory, equipment and fixed asset purchases that are secured by those assets, and term financing for those within Mid Penn’s geographic markets.

Mid Penn’s credit underwriting process for commercial and industrial loans includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both borrowers and guarantors as reflected in current and detailed financial information, and evaluation of underlying collateral to support the credit.

The consumer loan portfolio segment is comprised of loans which are underwritten after evaluating a borrower’s capacity, credit and collateral.

Several factors are considered when assessing a borrower’s capacity, including the borrower’s employment, income, current debt, assets and level of equity in the property.

Credit is assessed using a credit report that provides credit scores and the borrower’s current and past information about their credit history.

Loan-to-value and debt-to-income ratios, loan amount and lien position are also considered in assessing whether to originate a loan.

These borrowers are particularly susceptible to downturns in economic trends, such as conditions that negatively affect housing prices and demand and levels of unemployment.

Mid Penn utilizes a DCF method to estimate the quantitative portion of the allowance for credit losses for its loan pools.

The DCF is based off of historical losses, including peer data, which is correlated to national unemployment and GDP.

The PD and LGD measures are used in conjunction with prepayment data as inputs into the DCF model to calculate the cash flows at the individual loan level.

Contractual cash flows based on loan terms are adjusted for PD, LGD and prepayments to derive loss cash flows.

These expected cash flows are discounted using the loan’s effective interest rate to estimate the quantitative allowance for credit losses.

The prepayment studies are updated quarterly by a third-party for each applicable pool.

Mid Penn determined that reasonable and supportable forecasts could be made for a twelve-month period for all of its loan pools.

To the extent the lives of the loans in the loans held-for-investment (LHFI) portfolio extend beyond this forecast period, Mid Penn uses a reversion period of four quarters and reverts to the historical mean on a straight-line basis over the remaining life of the loans.

Qualitative factors used in the ACL methodology include the following:

• Changes in lending policies, procedures, and underwriting standards

• Changes in portfolio composition and concentrations of credit

• Peer group trends and divergence

The ACL for individual loans, such as non-accrual 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 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.

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Loans that have experienced more than insignificant credit deterioration since origination are referred to as PCD loans.

In its evaluation of whether a loan has experienced more than insignificant deterioration in credit quality since origination, Mid Penn takes into consideration loan grades, past due and nonaccrual status.

Mid Penn may also consider external credit rating agency ratings for borrowers and for non-commercial loans, FICO score or band, probability of default levels, and

MID PENN BANCORP, INC.

number of times past due.

At the purchase or acquisition date, the amortized cost basis of PCD loans is equal to the purchase price and an initial estimate of credit losses.

The initial recognition of expected credit losses on PCD loans has no impact on net income.

When the initial measurement of expected credit losses on PCD loans is calculated on a pooled loan basis, the expected credit losses are allocated to each loan within the pool.

Any difference between the initial amortized cost basis and the unpaid principal balance of the loan represents a noncredit discount or premium, which is accreted (or amortized) into interest income over the life of the loan.

Subsequent changes to the ACL on PCD loans are recorded through the PCL.

For purchased loans that are not deemed to have experienced more than insignificant credit deterioration since origination and are therefore not deemed PCD, any discounts or premiums included in the purchase price are accreted (or amortized) over the contractual life of the individual loan.

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 account.

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.

The following tables present the activity in the ACL - loans by portfolio segment for the three months ended March 31, 2026 and the three months ended March 31, 2025:

(In thousands) Balance as of

December 31, 2025 Initial ACL - PCD Loans Initial ACL - PSL Loans Charge-offs Recoveries Net Loans (Charged off) Recovered (Benefit)/Provision for Credit Losses (1)

Balance as of March 31, 2026

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

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

June 30, 2026

Commercial Real Estate

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Total 41,105 — — ( 61 ) 39 ( 22 ) 557 41,640

MID PENN BANCORP, INC.

(In thousands) Balance as of

December 31, 2024 Charge-offs Recoveries Net Loans Recovered (Charged off) Provision/(Benefit) for Credit Losses Balance as of March 31, 2025

(In thousands) Balance

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

June 30, 2026

Commercial Real Estate

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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.

MID PENN BANCORP, INC.

The following table presents the ACL for loans and the amortized cost basis of loans as of March 31, 2026 and December 31, 2025:

(In thousands) ACL - Loans Loans

March 31, 2026 Collectively Evaluated for Credit Loss Individually Evaluated for Credit Loss Total ACL - Loans Collectively Evaluated for Credit Loss Individually Evaluated for Credit Loss Total Loans

(In thousands) Balance

March 31, 2025 Initial ACL - PCD Loans Charge-offs Recoveries Net Loans (Charged off) Recovered Provision/(Benefit) for Credit Losses (1)

June 30, 2025

Commercial Real Estate

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Total $ 35,838 $ 343 $ ( 909 ) $ 98 $ ( 811 ) $ 2,245 $ 37,615

(In thousands) ACL - Loans Loans

December 31, 2025 Collectively Evaluated for Credit Loss Individually Evaluated for Credit Loss Total ACL - Loans Collectively Evaluated for Credit Loss Individually Evaluated for Credit Loss Total Loans

(In thousands) Balance

December 31, 2024 Initial ACL - PCD Loans Charge-offs Recoveries Net Loans (Charged off) Recovered Provision/(Benefit) for Credit Losses (1)

June 30, 2025

Commercial Real Estate

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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.

MID PENN BANCORP, INC.

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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 months ended March 31, 2026, whereby the borrower was experiencing financial difficulty at the time of modification, is set forth in the following table:

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

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Term Extension Total % of Total Class of Financing Receivable

Three months ended March 31, 2026

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 months ended March 31, 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 loans, which also reduced the monthly payment amounts for the borrowers.

As of March 31, 2026, there were no defaults on loans modified to borrowers experiencing financial difficulty within the twelve months following modification.

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.

MID PENN BANCORP, INC.

Note 5 - Deposits

Deposits consisted of the following as of March 31, 2026 and December 31, 2025:

(Dollars in thousands) March 31, 2026 % of Total Deposits December 31, 2025 % of Total 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 %

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Total deposits $ 5,953,297 100.0 % $ 5,214,663 100.0 %

The scheduled maturities of time deposits as of March 31, 2026 were as follows:

The scheduled maturities of time deposits at June 30, 2026 were as follows:

Time Deposits

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$ 1,258,400 $ 421,950

Mid Penn had $ 132.7 million of brokered certificates of deposits as of March 31, 2026 and $ 97.5 million as of December 31, 2025.

As of March 31, 2026 and December 31, 2025, Mid Penn had $ 112.7 million and $ 83.2 million, respectively, of Certificate of Deposit Account Registry ("CDAR") deposits.

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.

MID PENN BANCORP, INC.

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however, none are entered into for speculative purposes.

During the three months ended March 31, 2026, Mid Penn had outstanding derivative contracts designated as hedges.

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.

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Information related to loan-level interest rate swaps is set forth in the following table:

(Dollars in thousands) March 31, 2026 December 31, 2025

Loan-level interest rate swaps on loans with customers

Notional amount $ 332,451 $ 287,251

Weighted-average remaining term (years) 4.47 4.16

Receive fixed rate (weighted-average) 5.34 % 5.13 %

Pay variable rate (weighted-average) 5.98 % 6.08 %

Estimated fair value (1)

$ 7,820 $ 8,796

(Dollars in thousands) March 31, 2026 December 31, 2025

Loan-level interest rate swaps on loans with correspondents

(Dollars in thousands) June 30, 2026 December 31, 2025

Loan-level interest rate swaps

Notional amount $ 377,297 $ 287,251

Weighted-average remaining term (years) 4.47 4.16

Receive variable rate (weighted-average) 5.98 % 6.08 %

Pay fixed rate (weighted-average) 5.34 % 5.13 %

Estimated fair value (2)

$ 7,820 $ 8,796

(1) The net amount of the estimated fair value is disclosed in Other Liabilities on the Consolidated Balance Sheet.

(2) The net amount of the estimated fair value is disclosed in Other Assets on the Consolidated Balance Sheet.

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 interest rate swaps as part of its interest rate risk management strategy.

During the three months ended March 31, 2026, Mid Penn had interest rate swaps designated as cash flow hedges to hedge the cash flows associated with existing brokered CDs.

Information related to cash flow hedges is set forth in the following table:

(Dollars in thousands) March 31, 2026 December 31, 2025

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

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Estimated fair value (1)

(1) Estimated fair value, net of accrued interest receivable, is disclosed in Other Assets on the Consolidated Balance Sheet.

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)

Underlying variable rate (weighted-average)

Estimated fair value (1)

(1) Estimated fair value, net of accrued interest receivable, is disclosed in Other Assets on the Consolidated Balance Sheet.

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The components of accumulated other comprehensive (loss)/income, net of taxes, are as follows:

(I n thousands )

(In thousands)

Unrealized Loss on

4 unchanged sentences

Cash Flow Hedges Defined Benefit

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 )

1 unchanged sentence

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 )

1 unchanged sentence

Amounts reclassified from AOCI — — ( 26 ) ( 26 )

Balance as of March 31, 2025 $ ( 15,233 ) $ 501 $ 569 $ ( 14,163 )

Balance as of June 30, 2025 $ ( 12,478 ) $ 163 $ 559 $ ( 11,756 )

MID PENN BANCORP, INC.

Note 8 - Fair Value Measurement

Mid Penn uses estimates of fair value in applying various accounting standards to its consolidated financial statements on either a recurring or non-recurring basis.

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.

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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 months ended March 31, 2026 or the year ended December 31, 2025.

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.

March 31, 2026

June 30, 2026

(In thousands) Level 1 Level 2 Level 3 Total

34 unchanged sentences

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 March 31, 2026 were measured as the price that secondary market investors were offering for loans with similar characteristics.

Derivative instruments - Interest rate swaps are measured by alternative pricing sources with reasonable levels of price transparency in markets that are not active.

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.

3 unchanged sentences

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 mortgage banking derivatives as Level 3.

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.

1 unchanged sentence

The following table illustrates financial instruments measured at fair value on a nonrecurring basis:

March 31, 2026

June 30, 2026

(In thousands) Level 1 Level 2 Level 3 Total

13 unchanged sentences

The following table presents additional information about the valuation techniques for level 3 assets measured at fair value on a nonrecurring basis:

March 31, 2026

(Dollars in thousands)

Valuation Technique

Significant Unobservable Input

Range of Inputs

Weighted Average

Individually evaluated loans, net of ACL $ 26,846 Appraisal of collateral

Appraisal adjustments

8 % - 100 % 52.1 %

Foreclosed assets held-for-sale

8,420 Appraisal of collateral

Appraisal adjustments 18 % - 100 % 42.6 %

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)

Valuation Technique

Significant Unobservable Input

Range of Inputs Weighted Average

(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 %

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:

March 31, 2026

June 30, 2026

Amount Estimated Fair Value

9 unchanged sentences

Accrued interest receivable (2)

33,391 188 4,666 28,538 33,391

Derivative assets 9,115 — 9,115 — 9,115

3 unchanged sentences

Long-term debt (1)

141 — 127 — 127

Subordinated debt — — — — —

Accrued interest payable 12,175 — 12,175 — 12,175

1 unchanged sentence

(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.

MID PENN BANCORP, INC.

12 unchanged sentences

Accrued interest receivable (2)

29,640 127 3,776 25,737 29,640

Derivative assets 9,007 — 9,007 — 9,007

8 unchanged sentences

(1) Long-term debt excludes finance lease obligations.

The Bank’s outstanding and unfunded credit commitments and financial standby letters of credit were deemed to have no significant fair value as of March 31, 2026 and December 31, 2025.

(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

9 unchanged sentences

The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers.

Mid Penn had $ 65.1 million and $ 66.5 million of standby letters of credit outstanding as of March 31, 2026 and December 31, 2025, respectively.

Mid Penn does not anticipate any losses resulting from these transactions.

The amount of the liability as of March 31, 2026 and December 31, 2025 for payment under standby letters of credit issued was not considered material.

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.

1 unchanged sentence

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 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.

MID PENN BANCORP, INC.

The ACL - OBS was $ 3.1 million and $ 2.9 million as of March 31, 2026 and December 31, 2025, respectively.

A benefit for credit losses related to credit commitments of $ 54 thousand and $ 20 thousand was recorded for the three months ended March 31, 2026 and March 31, 2025, respectively.

The following table presents the activity in the ACL - OBS by segment for the three months ended March 31, 2026:

(In thousands)

Balance as of

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 March 31, 2026

(Benefit)/Provision for Credit Loss Balance as of

June 30, 2026

1-4 Family Rental $ 12 $ — $ ( 1 ) $ 11

10 unchanged sentences

$ 2,913 $ 220 $ ( 83 ) $ 3,051

(1) Includes commitments on loans acquired in the 1st Colonial acquisition on February 27, 2026.

These commitments are included in the allowance for off-balance sheet credit exposures as of March 31, 2026 .

(In thousands)

(1) Includes a $ 220 thousand initial allowance on unfunded commitments acquired in the 1st Colonial acquisition.

MID PENN BANCORP, INC.

(In thousands) Balance as of

March 31, 2025 (Benefit)/Provision for Credit Loss (1)

Balance as of

December 31, 2024 (Benefit)/Provision for Credit Loss Balance as of

March 31, 2025

June 30, 2025

1-4 Family Rental $ 13 $ 3 $ 16

10 unchanged sentences

$ 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.

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.

5 unchanged sentences

This is based on information currently available to Mid Penn and involves elements of judgment and significant uncertainties.

MID PENN BANCORP, INC.

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.

MID PENN BANCORP, INC.

Note 10 - Debt

Short-term FHLB and Correspondent Bank Borrowings

Total short-term borrowings were $ 31.5 million and $ 20.8 million as of March 31, 2026 and December 31, 2025, respectively.

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.

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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 March 31, 2026, the amount of loans pledged totaled $ 2.7 billion.

As of March 31, 2026, the Bank's unused short-term borrowing capacity with the FHLB totaled $ 1.5 billion (equal to $ 1.9 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 March 31, 2026.

No draws have been made on these lines of credit as of March 31, 2026 and December 31, 2025, respectively.

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 March 31, 2026 and December 31, 2025:

(Dollars in thousands) March 31, 2026 December 31, 2025

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:

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As a member of the FHLB, the Bank can access a number of credit products which are utilized to provide liquidity.

As of March 31, 2026 and December 31, 2025, the Bank had long-term debt outstanding in the amount of $ 3.0 million and $ 23.1 million, respectively, consisting of FHLB fixed rate instruments, and a finance lease liability.

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 $ 406.5 million and $ 162.5 million as of March 31, 2026 and December 31, 2025, respectively.

These FHLB letter of credit commitments totaled $ 399.6 million and $ 162.5 million as of June 30, 2026 and December 31, 2025, respectively.

MID PENN BANCORP, INC.

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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 October 15, 2025, and Mid Penn redeemed all of the Riverview Notes on such date.

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 accredited investors.

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.

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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 accredited investors.

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.

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Outstanding Balance

As of March 31, 2026, the Corporation had no subordinated debt outstanding.

As of June 30, 2026, the Corporation had no subordinated debt outstanding.

MID PENN BANCORP, INC.

Note 12 - Common Stock and Equity Incentive Plans

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The Program does not obligate Mid Penn to repurchase any shares.

No shares were repurchased in the three months ended March 31, 2026.

As of March 31, 2026, Mid Penn had repurchased an aggregate total of 519,891 shares of common stock at an average price of $ 23.65 per share under the Program.

MID PENN BANCORP, INC.

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

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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 March 31, 2026, participants in the plan held 496,255 shares of the Corporation's common stock.

As of June 30, 2026, participants in the plan held 492,599 shares of the Corporation's common stock.

Equity Incentive Plans

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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, 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.

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 aggregate number of shares of common stock available for issuance under the Plans is 550,000 shares .

As of March 31, 2026, a total of 314,804 restricted shares were granted under the Plans, of which 110,845 shares were unvested.

The Plan's shares granted and vested resulted in $ 689 thousand and $ 239 thousand in stock-based compensation expense for the three months ended March 31, 2026 and 2025, respectively.

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.

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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.

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 129,776 stock options and 53,822 restricted stock units remained unvested as of March 31, 2026.

Compensation expense for stock options was $ 131 thousand for the three months ended March 31, 2026.

As of March 31, 2026, unrecognized compensation expense related to unvested options was $ 645 thousand.

Compensation expense for restricted stock awards was $ 183 thousand for the three months ended March 31, 2026.

As of March 31, 2026, unrecognized compensation cost related to unvested restricted stock was $ 894 thousand.

The assumed awards are subject to the original vesting terms and conditions included in the William Penn stock-based compensation plan.

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

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The following data sets forth the computation of basic and diluted earnings per common share:

Three Months Ended March 31,

Three Months Ended June 30, Six Months Ended June 30,

(In thousands, except per share data) 2026 2025 2026 2025

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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 months ended March 31, 2026 or March 31, 2025.

Dilutive common stock equivalents included assumed equity awards acquired in the William Penn acquisition.

As part of the acquisition of William Penn on April 30, 2025, the Company 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).

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 quarter ended March 31, 2026.

These shares contributed to the increase in weighted-average shares outstanding for the six months ended June 30, 2026.

MID PENN BANCORP, INC.

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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

March 31, 2026 March 31, 2025

Net interest income $ 65,280 $ 48,206 $ 120,529 $ 90,715

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Noninterest expense 47,767 47,798 99,725 78,440

Provision for Income taxes 2,595 3,063

Provision/(Benefit) for Income taxes 5,880 ( 480 ) 8,475 2,583

Net income 21,691 4,762 30,397 18,504

7 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements