Mid Penn Bancorp, Inc. announced it has entered into an agreement to acquire Sarasota, Florida-based Cumberland Advisors. Cumberland, a Registered Investment Advisory firm with approximately $3.3 billion in assets under management, recorded year-to-date annualized revenue of $9.0 million as of the quarter ended June 30, 2025. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions. Upon completion, Cumberland's leadership and team members will join Mid Penn, expanding the combined company's investment management services and expertise.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Mid Penn Bancorp Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250925599810) on September 25, 2025, and is solely responsible for the information contained therein.