Mid Penn Bancorp Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Declares Dividend Payable on February 27, 2012
January 26, 2012 at 12:42 am IST
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Mid Penn Bancorp Inc. reported earnings results for the fourth quarter and year ended December 31, 2011. The company reported net income available to common shareholders for the fourth quarter of $1,223,000, or $0.35 per common share, an increase of 99.5% over the net income available to common shareholders of $613,000, or $0.17 per common share, reported during the same period in 2010. The company reported net interest income of $5,831,000, total revenues of $8,792,000 against net interest income of $4,993,000, total revenues of $8,430,000 for the same period a year ago. The company reported return on average equity of 10.17% against 5.96% for the same period a year ago.
The company's earnings available to common shareholders for the year ended December 31, 2011 was $4,029,000, or $1.16 per common share, an increase of 81.3% over the $2,234,000 or $0.64 per common share, reported for the year ended December 31, 2010. The company reported net interest income of $22,023,000, total revenues of $34,541,000 against net interest income of $19,506,000, total revenues of $33,563,000 for the same period a year ago. The company reported return on average equity of 70.6% against 8.96% for the same period a year ago.
The Board of Directors declared a cash dividend of $0.05 per share on its common stock, based upon the results of operations for the fourth quarter of 2011. The dividend is payable February 27, 2012 to shareholders of record on February 8, 2012.
Mid Penn Bancorp, Inc. is a financial holding company. Its operations are conducted by Mid Penn Bank and its nonbank subsidiaries are engaged in commercial banking and trust business. It provides full-service commercial banking and financial services, including mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development and local government loans and various types of time and demand deposits. It offers services to commercial businesses and real estate investors, consumers, nonprofit organizations, and municipalities through its 49 full-service retail banking properties. Its investment portfolio includes the United States Treasury and United States government agencies, mortgage-backed United States government agencies, and corporate bonds. It also offers other services, such as online banking, telephone banking, cash management services, automated teller services and safe deposit boxes.