Mid Penn Bancorp, Inc. Reports 2010 Earnings And Declares Dividend
MILLERSBURG, Pa., Jan. 27, 2011 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. ("Mid Penn") (Nasdaq:MPB), the parent company of Mid Penn Bank, today reported net income available to common shareholders for the fourth quarter of $613,000, or $0.17 per common share, an increase of 116.6% over the net loss available to common shareholders of ($3,684,000), or ($1.06) per common share, reported during the same period of 2009. Mid Penn's net income available to common shareholders for the year ended December 31, 2010 was $2,234,000, or $0.64 per common share, an increase of 179.5% over the net loss available to common shareholders of ($2,809,000), or ($0.81) per common share, reported for the year ended December 31, 2009. Mid Penn also reported increases of $31,447,000, or 11.0%, in total deposits and $54,967,000, or 5.2%, in total assets at December 31, 2010 versus December 31, 2009.
|2010 Financial Highlights|
|(dollars in thousands, except per share data)|
|Total Assets||$ 637,457||$ 606,010||$ 31,447||5.2%|
|Total Loans (net)||460,674||472,699||(12,025)||-2.5%|
|Quarter Ended||Year-to-Date Ended|
|Net Interest Income||$ 4,993||$ 4,675||$ 318||6.8%||$ 19,506||$ 18,032||$ 1,474||8.2%|
|Net Income (Loss) Available to Common Shareholders||613||(3,684)||4,297||116.6%||2,234||(2,809)||5,043||179.5%|
|Diluted Earnings (Loss) per Common Share||0.17||(1.06)||1.23||116.0%||0.64||(0.81)||1.45||179.0%|
|Return on Average Equity||5.96%||-27.94%||N/A||121.3%||5.71%||-4.43%||N/A||228.8%|
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