Mid Penn Bancorp, the parent company of Mid Penn Bank, announced the pricing of its previously announced public offering of 2,600,000 shares of common stock at $25.00 per share for gross proceeds of $65 million.

After deducting the underwriting discount and other estimated offering expenses, Mid Penn expects to receive net proceeds of approximately $61 million. Mid Penn expects to close the sale of the shares of common stock on or about May 4, subject to customary closing conditions.

Piper Sandler & Co. and Stephens Inc. are serving as joint bookrunning managers. The underwriters will have a 30-day option to purchase up to an additional 390,000 shares of common stock from Mid Penn.

The bank intends to use the net proceeds of the offering to increase its capital structure, support the continued growth of its franchise, and for other general corporate purposes.

Learn more about Mid Penn Bank.