**Mid Penn Bancorp Enters Merger Agreement with William Penn Bancorporation**

Mid Penn Bancorp, Inc. has recently announced a significant development by entering into an Agreement and Plan of Merger with William Penn Bancorporation. The merger agreement outlines the merger of William Penn with and into Mid Penn, with Mid Penn remaining as the surviving corporation. Additionally, Mid Penn Bank, a subsidiary of Mid Penn, will absorb William Penn Bank as part of the agreement.

Shareholders of William Penn will have the right to receive 0.426 shares of Mid Penn common stock for each share of William Penn common stock they own, alongside cash for fractional shares. The completion of the merger is anticipated to take place in the second quarter of 2025. Kenneth J. Stephon, current Chairman, President, and CEO of William Penn, will join Mid Penn and Mid Penn Bank’s leadership team post-merger.

The Merger Agreement includes detailed provisions related to the treatment of outstanding restricted stock awards and stock options of William Penn upon the completion of the merger. It also contains standard representations, warranties, and covenants from both parties. As per customary procedures, the merger is subject to various conditions, including shareholder approvals, regulatory clearances, and certain legal requirements.

Upon termination of the Merger Agreement under specific circumstances, William Penn may be required to pay a termination fee of $4,900,000. Detailed information regarding the terms of the Merger Agreement can be found in the attached exhibit.

William Penn and Mid Penn issued a joint press release on November 1, 2024, disclosing this strategic move. Subsequently, Mid Penn included historical financial information of William Penn with this filing to provide investors with a clearer understanding of the merged entity’s financial position going forward.

Investors should note that this filing contains forward-looking statements, emphasizing the potential risks and uncertainties associated with such transactions and the variables that could impact the proposed merger’s success. Interested individuals are advised to stay informed through the documents that will be filed with the SEC regarding this transaction.

For detailed financial statements and other pertinent information, investors can refer to the complete 8-K filing on the SEC’s website or the company’s dedicated investor relations channels.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mid Penn Bancorp’s 8K filing here.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and individual retirement accounts.