Mid Penn Bancorp to Acquire 1st Colonial Bancorp in $101 Million Deal, Expanding Philadelphia Metro Presence
Reuters
Sep 25
Mid Penn Bancorp to Acquire 1st Colonial Bancorp in $101 Million Deal, Expanding Philadelphia Metro Presence
Mid Penn Bancorp, Inc. announced it has entered into a definitive agreement to acquire 1st Colonial Bancorp, Inc. in a cash and stock transaction valued at approximately $101 million. The boards of both companies have unanimously approved the deal, which is expected to close late in the first quarter or early in the second quarter of 2026, subject to customary conditions. Following the completion of the transaction, 1st Colonial shareholders will own approximately 8% of Mid Penn's outstanding shares. Robert B. White, President and CEO of 1st Colonial, will join Mid Penn Bank as Senior Executive Vice President, Greater Philadelphia Metro Area Market President and Senior Risk Advisor. One 1st Colonial director will also join the Mid Penn board upon closing.
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