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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


☐			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

Accelerated Filer

Emerging Growth Company

Non-accelerated Filer

Smaller Reporting Company

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.

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.

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

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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.

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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.

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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.

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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.

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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.

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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

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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.

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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.

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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.

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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.

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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

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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.

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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

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	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

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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

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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:

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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	$	—

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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.

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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

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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

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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

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	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

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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.

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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.

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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.

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(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.

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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.

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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.

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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.

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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)

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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

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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 mortgage 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.

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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.

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	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

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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.

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(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.

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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.

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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.

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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.

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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.

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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.

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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.

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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;

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•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.

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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.

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◦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.

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•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.

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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.

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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.

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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

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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.

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	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.

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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

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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.

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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.

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	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.

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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.

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	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.

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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:

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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

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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.

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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.

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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.

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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.

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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.

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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%

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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.

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PART II – OTHER INFORMATION

ITEM 1 – LEGAL PROCEEDINGS

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.

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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.

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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.

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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).

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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