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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Thu., Aug. 28, 3:04 AM

Slide #3. Mid Penn Bancorp, Inc. Phoenix Bancorp, Inc.

Acquirer: Mid Penn Bancorp, Inc. (NASDAQ:MPB)
Acquiree: Phoenix Bancorp, Inc. (PXBP)
Details: Mid Penn Bancorp, Inc. ("Mid Penn") (Nasdaq:MPB), headquartered in Millersburg, Pennsylvania, and Phoenix Bancorp, Inc. ("Phoenix") (OTC:PXBP), headquartered in Minersville, Pennsylvania, today announced the signing of a definitive merger agreement which calls for Mid Penn to acquire Phoenix in a transaction valued at approximately $14.5 million. The transaction expands Mid Penn's footprint in Schuylkill County and into Luzerne County. On a pro forma basis, the consolidated assets of the combined company will be approximately $875 million.

Mid Penn Bancorp is a holding company. Through its subsidiary, Mid Penn Bank (the Bank), Co. engages in commercial banking and trust business, making available a range of financial services, including, but not limited to, installment loans, personal loans, mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development and local government loans and several types of time and demand deposits. In addition, the Bank provides a range of trust and retail investment services. As of Dec 31 2012, Co. had total assets of $705.2 million and total deposits of $625.5 million.

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Company Name:  Mid Penn Bancorp, Inc.
Sector:  Banking & Savings

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August 28, 2014    3:04 AM Eastern
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