Mid Penn Bancorp Inc (MPB) News & EventsMPBMid Penn Bancorp Inc

Mid Penn Bank Appoints Christopher Nestore as Chief Risk Officer

Mid Penn Bank announced that Christopher Nestore has joined the Bank as senior executive vice president and chief risk officer. Nestore will lead the Bank's enterprise risk management function and report to Rory Ritrievi, president and CEO of Mid Penn Bank. "Chris brings an exceptional depth of experience across operational risk, regulatory oversight and governance, and we are thrilled to welcome him to our executive leadership team," Ritrievi said. "His strategic perspective, sound judgment, and proven ability to build strong risk management programs will be instrumental as Mid Penn Bank continues to grow toward and potentially beyond $10 billion in assets." Nestore has 30 years of financial services experience in enterprise risk, regulatory remediation, audit, governance and controls. Most recently, he served as executive vice president and head of U.S. operational and model risk management at TD Bank, where he provided independent oversight and governance across the bank's U.S. operations and advised senior executives, board committees and regulators on material risk and control matters.

Net Interest Margin Increases to 4.06%, Rory G. Ritrievi Reports Earnings Above Expectations

Net interest margin increased to 4.06% for the quarter ended June 30, 2026, from 3.80% for the first quarter of 2026, and 3.44% for the second quarter of 2025. This represents increases of 26 and 62 basis points compared to the first quarter of 2026 and second quarter of 2025, respectively. The increase from the second quarter of 2025 was driven by higher investment securities yields, higher loan yields, and lower funding costs. Chair, President and CEO Rory G. Ritrievi provided the following statement: "We are pleased to share our second quarter operating performance with our shareholders. Results include earnings above consensus expectations, meaningful organic loan growth, healthy net interest margin expansion, a reduction in the efficiency ratio to below 60%, stable asset quality, and improvements in both book value and tangible book value."

Mid Penn Bancorp Expands Stock Buyback Program to $50M

Mid Penn Bancorp is pleased to announce the reauthorization and expansion of its treasury stock repurchase program, which now accommodates up to an additional $50M in repurchase activity. On April 21, the Board of Directors of Mid Penn approved the renewal of the corporation's treasury stock repurchase program through April 30, 2027, as well as an increase in the number of shares available for future repurchases under the program. As modified, the repurchase program authorizes the corporation to repurchase up to an additional $50M of corporation common stock, from time to time. The shares may be purchased in open market or private transactions, including pursuant to Rule 10b5-1 trading plans, at the discretion of management and subject to the limitations of applicable securities laws.