Mid Penn Bancorp, Inc. and 1st Colonial Bancorp, Inc. have received regulatory approvals for their merger, bringing them one step closer to the completion of the transaction. The merger, valued at approximately $101 million, is set to be finalized in the first quarter of 2026, pending approval from 1st Colonial shareholders and other closing conditions.
Following the merger, Mid Penn Bancorp, Inc. is expected to have approximately $7.5 billion in assets as of March 31, 2026, significantly expanding its footprint in the greater Philadelphia metropolitan area and strengthening its presence in southeastern Pennsylvania and southern New Jersey.
Mid Penn operates 59 retail locations and currently has total assets of over $6 billion, while 1st Colonial is the parent company of 1st Colonial Community Bank, providing a range of business and consumer financial services with branches in Westville, New Jersey, and Limerick, Pennsylvania.
The transaction involves a combination of cash and stock, and Mid Penn filed a registration statement with the Securities and Exchange Commission (SEC) in connection with the merger. Shareholders of 1st Colonial will vote on the transaction at a special virtual meeting on February 11, 2026, after which the merger is expected to be completed.
The combined entity will aim to ensure a seamless integration that supports customers, communities, and shareholders, as stated by Rory G. Ritrievi, the chair, president, and CEO of Mid Penn.
The completion of the merger is expected to further solidify Mid Penn's position as a full-service commercial bank, offering a comprehensive portfolio of financial products and services to the communities it serves. As a result of these announcements, the company's shares have moved 0.12% on the market, and are now trading at a price of $32.44. If you want to know more, read the company's complete 8-K report here.
