Mid Penn Bancorp, Inc. Declares Dividend and Reports First Quarter Earnings

[Mid Penn Bancorp via BizWire]

MILLERSBURG, Pa.--(BUSINESS WIRE)--April 29, 2004--The Board of
Directors of Mid Penn Bancorp, Inc. (AMEX:MBP), parent company of Mid
Penn Bank, has declared a quarterly cash dividend of 20 cents per
share, payable Monday, May 24, 2004, to shareholders of record
Wednesday, May 12, 2004.
Mid Penn Bancorp, Inc. also announced earnings for the first
quarter of 2004 of $1,086,000 compared to $1,052,000 earned in the
first quarter of 2003. Earnings per share were $.34 per share compared
to $.33 per share for the first quarter of 2003. The difference in
earnings was primarily attributable to an increase in fee income, a
lower provision for possible loan losses during the quarter and a
realized gain on the sale of investment securities.
Total assets at the end of the first quarter of 2004 were
approximately $378 million, versus $368 million the prior year, an
increase of 2.7%. Total loans of $240 million increased by $15 million
or 6.7% at March 31, 2004, compared to the prior year. Total deposits
as of the same date were $290 million compared to $279 million the
prior year, an increase of 3.9%. Deposit growth was experienced
largely through the Bank's demand and time deposits.
Mid Penn Bank has been an independently owned community bank since
1868 and is committed to remaining a progressive, independent
community bank offering a full line of business, personal and trust
services.
Mid Penn Bancorp, through its subsidiary, Mid Penn Bank, operates
11 offices in Dauphin, Northumberland, Schuylkill, and Cumberland
Counties. For more information, visit Mid Penn's website at
www.midpennbank.com and view the Investor Relations page where
comprehensive investor information is available concerning the
corporation.