Mid Penn Bancorp, Inc. Declares Quarterly Cash Dividend and Reports Increased First Quarter Earnings
28 April 2008 - 11:37PM
Business Wire
The Board of Directors of Mid Penn Bancorp, Inc. (AMEX:MBP), parent
company of Mid Penn Bank, declared a quarterly cash dividend of 20
cents per share, payable Monday, May 26, 2008, to shareholders of
record Wednesday, May 7, 2008. Mid Penn Bancorp, Inc. also
announced earnings for the first quarter of 2008 of $1,173,000
compared to $1,084,000 earned in the first quarter of 2007.
Earnings per share were $.34 per share compared to $.31 per share
for the first quarter of 2007, an increase of 9.7%. Higher earning
asset levels during the first quarter of 2008 provided increased
earnings during the quarter. Total assets at the end of the first
quarter of 2008 were approximately $536 million, versus $492
million the prior year, an increase of 8.9%. Total loans of $389
million increased by $34 million or 9.6% at March 31, 2008,
compared to the prior year. Total deposits as of the same date were
$406 million compared to $380 million the prior year, an increase
of 6.8%. Mid Penn Bank has been an independently owned community
bank since 1868 and is committed to remaining a progressive,
independent community bank offering a full line of business,
personal and trust services. Mid Penn Bank did not participate in
offering any sub-prime mortgage lending. Mid Penn Bancorp, through
its subsidiary Mid Penn Bank, operates 15 offices in Dauphin,
Northumberland, Schuylkill, and Cumberland Counties. For more
information, visit www.midpennbank.com and view the Investor
Relations page where comprehensive information is available
concerning Mid Penn Bancorp, Inc.
Mid Penn Bancorp (AMEX:MBP)
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