William Penn Bancorporation Agrees Mid Penn Bancorp $127 Mln Merger

Dow Jones

Nov 01, 2024

By Denny Jacob

William Penn Bancorporation agreed to merge with and into Mid Penn Bancorp in an all-stock value deal valued at about $127 million.

William Penn shareholders will receive 0.4260 shares of Mid Penn common stock for every share of William Penn. Based on Mid Penn's closing stock price of $31.88 as of Oct. 30, the implied transaction value is about $13.58 a William Penn share, according to the companies.

The merger, expected to close in the first half of 2025, will create a combined community banking franchise with about $6.3 billion in total assets as of Sept. 30.

The merger is expected to be immediately accretive to Mid Penn's estimated earnings per-share and to have a positive long-term impact on Mid Penn's key profitability and operating ratios. The transaction has been unanimously approved by each company's board.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 01, 2024 06:29 ET (10:29 GMT)

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Based on Mid Penn's closing stock price of $31.88 as of Oct. 30, the implied transaction value is about $13.58 a William Penn share, according to the companies. \n\n\n  The merger, expected to close in the first half of 2025, will create a combined community banking franchise with about $6.3 billion in total assets as of Sept. 30. \n\n\n  The merger is expected to be immediately accretive to Mid Penn's estimated earnings per-share and to have a positive long-term impact on Mid Penn's key profitability and operating ratios. The transaction has been unanimously approved by each company's board. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 01, 2024 06:29 ET (10:29 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}