Mid Penn Bank has reported net income to common shareholders (earnings) for the quarter ended June 30 of $6,833,000 or $0.81 per common share basic and diluted, compared to earnings of $4,403,000 or $0.52 per common share basic and diluted for the same quarter last year.

Both the quarterly net income and the quarterly earnings per share represent the highest on record for the bank. Earnings for the six months ended June 30 were $10,651,000 or $1.26 per common share basic and diluted, compared to earnings of $8,480,000 or $1.00 per common share basic and diluted for the same period last year.

“On behalf of the Board of Directors and all of the employees of Mid Penn Bancorp, Inc., we proudly announce these second-quarter results to our Shareholders today,” said Mid Penn Bank President and CEO Rory G. Ritrievi. “Over the last four months, as the country has dealt with this unprecedented pandemic, that Board and those employees have worked smartly and diligently to position this company for these type of results.

“The quarter’s success was largely impacted by Mid Penn Bank’s participation in the Paycheck Protection Program that was implemented in late March 2020 by the Small Business Administration. Using our unique SBA expertise, a well-developed game plan, and thousands of hours of employee time – many of those hours personal time – the bank was able to originate and fund over 4,000 PPP loans for over $625 million that worked to protect over 60,000 jobs for small businesses throughout our expanding footprint.

“That effort and that success had a very positive impact on our financial performance for the second quarter and, we expect, for the remainder of 2020. To recognize that performance while providing such needed relief to so many owner-managed businesses and the employees of those businesses was truly gratifying.”

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