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Mid Penn Bancorp, Inc. Completes Acquisition Of Brunswick Bancorp

May 22, 2023•over 2 years ago

Acquiring Company

Mid Penn Bancorp

Acquired Company

Mid Penn Bancorp

MillersburgMillersburgBankingBanking

Description

Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB) today announced that its acquisition of Brunswick Bancorp (“Brunswick”) was completed after the close of business on May 19, 2023. In connection with the holding company merger, Brunswick’s banking subsidiary, Brunswick Bank &Trust Company, has been merged with and into Mid Penn’s subsidiary bank, Mid Penn Bank.

Company Information

Company

Mid Penn Bancorp

Location

Millersburg, Pennsylvania, United States

About

Mid Penn Bancorp Inc. (NASDAQ: MPB), headquartered in Harrisburg, Pennsylvania, is the parent company of Mid Penn Bank, a full-service commercial bank, and MPB Financial Services, LLC, a provider of specialized investment strategies, insurance, and planning services to individuals, families, and businesses. Mid Penn operates retail locations in counties throughout the Commonwealth of Pennsylvania and Central New Jersey, has total assets of approximately $5 billion, and offers a comprehensive portfolio of financial products and services to the communities it serves. To learn more, please visit www.midpennbank.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed