Mid Penn Bank, which acquired Chester County’s First Priority Bank last year, was included in American Banker magazine’s ranking of the Top 200 Mid-Tier Banks in the country.
The bank was ranked No. 101.
This designation marks several significant changes from last year; most notably that Mid Penn Bank, as a result of its growth in 2018 to total assets of $2.1 billion, is now evaluated in the Mid-Tier Banks category. From 2013 to 2017, Mid Penn Bank was named to the magazine’s ranking of the Top 200 Community Banks. In 2018, the bank was ranked No. 122 on that list.
“As a publicly traded company, we place shareholder return at the top of our priority list,” said Mid Penn Bank CEO Rory G. Ritrievi. “We are honored to be included in this list of top shareholder-return financial institutions. This is a testament to the dedication of our employees in following our community bank-focused strategic plan and the great communities in which we deliver that plan. To be designated to American Banker’s Top 200 lists six years in a row is an accomplishment of which we are quite proud.”
American Banker magazine’s Top 200 Mid-Tier Banks lists top consolidated bank holding companies, banks, and thrifts with total assets of between $2 billion and $10 billion as of Dec. 31, 2018 and is based on three-year average return on equity (ROAE) for 2016 to 2018. Financials used during the evaluation process are from the Securities & Exchange Commission’s filings.
Headquartered in Millersburg, Mid Penn Bank has 38 retail locations in the state of Pennsylvania and total assets of approximately $2 billion. Its footprint includes Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill, and Westmoreland counties.
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