Despite achieving a 30.0% year-over-year growth in net interest income, the bank's profitability remains constrained by a stagnant 0.8% net interest margin and a $6.3 million negative contribution from non-interest income in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 211.84M | 199.09M | 156.67M | 146.97M | 147.83M | 108.57M | 88.21M | 70.15M | 55.93M | 37.59M | 34.84M | 31.88M | 26.2M | 23.93M | 23.24M | 22.02M | 19.51M | 18.03M | 16.97M | 16.11M | 15.48M | 13.74M | 12.07M | 11.55M | 11.43M | 11.13M | 10.6M | 10.4M | 10.8M | 10.5M | 8.65M |
| NII Growth % | 120.47% | 27.08% | 6.6% | -0.58% | 36.17% | 23.08% | 25.75% | 25.41% | 48.81% | 7.87% | 9.29% | 21.69% | 9.5% | 2.95% | 5.53% | 12.9% | 8.17% | 6.28% | 5.35% | 4.02% | 12.7% | 13.79% | 4.52% | 1.09% | 2.67% | 5.01% | 1.9% | -3.7% | 2.86% | 21.33% | - |
| Net Interest Margin % | 3.04% | 3.25% | 2.86% | 2.78% | 3.29% | 2.32% | 2.94% | 3.14% | 2.69% | 3.21% | 3.37% | 3.42% | 3.47% | 3.36% | 3.3% | 3.08% | 3.06% | 2.98% | 2.96% | 3.16% | 3.15% | 3.14% | 2.99% | 3.09% | 3.15% | 3.37% | 3.36% | 3.62% | 3.89% | 4.09% | 4.12% |
| Interest Income | 335.95M | 323.77M | 286.58M | 236.34M | 165.6M | 123.32M | 107.94M | 95.31M | 68.65M | 43.89M | 40.21M | 36.49M | 30.63M | 28.98M | 30.37M | 31.55M | 30.15M | 31.34M | 31.86M | 31.44M | 28.21M | 23.29M | 20.08M | 19.98M | 21.35M | 22.86M | 22.05M | 20.1M | 20.4M | 19.4M | 16.17M |
| Interest Expense | 124.12M | 124.67M | 129.91M | 89.37M | 17.77M | 14.75M | 19.73M | 25.16M | 12.72M | 6.3M | 5.37M | 4.61M | 4.43M | 5.06M | 7.13M | 9.52M | 10.64M | 13.3M | 14.89M | 15.34M | 12.73M | 9.56M | 8.01M | 8.43M | 9.93M | 11.73M | 11.46M | 9.7M | 9.6M | 8.9M | 7.51M |
| Loan Loss Provision | 3.43M | 1.3M | 2.14M | 3.29M | 4.3M | 2.94M | 4.2M | 1.39M | 500K | 325K | 1.87M | 1.06M | 1.62M | 1.69M | 1.04M | 1.21M | 2.63M | 9.52M | 1.23M | 925K | 735K | 225K | 725K | 290K | 425K | 500K | 325K | 300K | 336K | 100K | 50K |
| Non-Interest Income | 13.62M | 3.16M | 20.13M | 18.04M | 21.65M | 20.5M | 14.75M | 12.64M | 7.46M | 5.62M | 5.73M | 4M | 3.08M | 3.59M | 3.59M | 3.02M | 3.13M | 3.66M | 3.68M | 3.48M | -11.72M | 2.95M | 3.46M | 2.71M | 2.02M | 1.84M | 1.56M | 1.7M | 1.43M | 1.8M | -7.8M |
| Non-Interest Income % | 3.9% | 0.97% | 6.56% | 7.09% | 11.56% | 14.26% | 12.02% | 11.71% | 9.8% | 11.35% | 12.47% | 9.88% | 9.14% | 11.03% | 10.56% | 8.73% | 9.41% | 10.45% | 10.36% | 9.97% | -71.05% | 11.25% | 14.69% | 11.93% | 8.65% | 7.47% | 6.59% | 7.8% | 6.57% | 8.49% | -93.33% |
| Total Revenue | 349.57M | 326.93M | 306.71M | 254.38M | 187.25M | 143.83M | 122.69M | 107.95M | 76.11M | 49.51M | 45.94M | 40.49M | 33.71M | 32.58M | 33.95M | 34.56M | 33.28M | 34.99M | 35.54M | 34.92M | 16.5M | 26.25M | 23.53M | 22.69M | 23.37M | 24.71M | 23.61M | 21.8M | 21.83M | 21.2M | 8.36M |
| Revenue Growth % | 51.46% | 6.59% | 20.57% | 35.85% | 30.19% | 17.23% | 13.65% | 41.83% | 53.73% | 7.77% | 13.46% | 20.13% | 3.48% | -4.06% | -1.76% | 3.85% | -4.9% | -1.54% | 1.76% | 111.73% | -37.15% | 11.53% | 3.72% | -2.92% | -5.4% | 4.66% | 8.3% | -0.16% | 2.99% | 153.53% | -5.3% |
| Non-Interest Expense | 156M | 128.59M | 114.62M | 117.03M | 97.84M | 90.08M | 67.42M | 59.97M | 50.17M | 31.29M | 28.62M | 26.65M | 20.5M | 19.69M | 19.6M | 18.07M | 16.84M | 16.67M | 14.73M | 12.6M | -3.48M | 10.26M | 9.03M | 8.1M | 7.26M | 7.03M | 6.66M | 6.6M | 6.5M | 6.3M | -3.89M |
| Efficiency Ratio | 44.63% | 39.33% | 37.37% | 46% | 52.25% | 62.63% | 54.95% | 55.55% | 65.91% | 63.2% | 62.3% | 65.81% | 60.82% | 60.45% | 57.72% | 52.28% | 50.6% | 47.64% | 41.44% | 36.07% | -21.12% | 39.1% | 38.37% | 35.69% | 31.05% | 28.43% | 28.19% | 30.28% | 29.76% | 29.72% | -46.5% |
| Operating Income | 66.03M | 72.37M | 60.03M | 44.69M | 67.35M | 36.05M | 31.34M | 21.43M | 12.72M | 11.59M | 10.08M | 8.17M | 7.16M | 6.14M | 6.2M | 5.77M | 3.16M | -4.5M | 4.69M | 6.07M | 6.51M | 6.2M | 5.77M | 5.87M | 5.76M | 5.45M | 5.17M | 5.2M | 5.4M | 5.9M | 4.69M |
| Operating Margin % | 18.89% | 22.14% | 19.57% | 17.57% | 35.97% | 25.07% | 25.54% | 19.85% | 16.72% | 23.41% | 21.94% | 20.18% | 21.25% | 18.85% | 18.25% | 16.68% | 9.51% | -12.87% | 13.2% | 17.37% | 39.48% | 23.63% | 24.53% | 25.86% | 24.66% | 22.05% | 21.91% | 23.85% | 24.73% | 27.83% | 56.06% |
| Operating Income Growth % | - | 20.55% | 34.32% | -33.64% | 86.81% | 15.04% | 46.27% | 68.38% | 9.8% | 14.96% | 23.36% | 14.09% | 16.66% | -0.89% | 7.44% | 82.24% | 170.26% | -195.97% | -22.64% | -6.86% | 4.98% | 7.43% | -1.6% | 1.79% | 5.82% | 5.32% | -0.52% | -3.7% | -8.47% | 25.85% | 14.34% |
| Pretax Income | 66.87M | 72.37M | 60.03M | 44.69M | 67.35M | 36.05M | 31.34M | 21.43M | 12.72M | 11.59M | 10.08M | 8.17M | 7.16M | 6.14M | 6.2M | 5.77M | 3.16M | -4.5M | 4.69M | 6.07M | 6.51M | 6.2M | 5.77M | 5.87M | 5.76M | 5.45M | 5.17M | 5.2M | 5.4M | 5.9M | 4.69M |
| Pretax Margin % | 19.13% | 22.14% | 19.57% | 17.57% | 35.97% | 25.07% | 25.54% | 19.85% | 16.72% | 23.41% | 21.94% | 20.18% | 21.25% | 18.85% | 18.25% | 16.68% | 9.51% | -12.87% | 13.2% | 17.37% | 39.48% | 23.63% | 24.53% | 25.86% | 24.66% | 22.05% | 21.91% | 23.85% | 24.73% | 27.83% | 56.06% |
| Income Tax | 15.65M | 16.12M | 10.6M | 7.3M | 12.54M | 6.73M | 5.13M | 3.73M | 2.13M | 4.5M | 2.28M | 1.64M | 1.46M | 1.2M | 1.24M | 1.22M | 416K | -2.21M | 1.1M | 1.39M | 1.62M | 1.6M | 1.41M | 1.25M | 1.27M | 1.22M | 1.23M | 1.3M | 1.5M | 1.7M | 1.36M |
| Effective Tax Rate % | 23.41% | 22.28% | 17.65% | 16.33% | 18.62% | 18.67% | 16.37% | 17.39% | 16.73% | 38.83% | 22.59% | 20.12% | 20.41% | 19.56% | 20.08% | 21.21% | 13.15% | 49.03% | 23.53% | 22.98% | 24.94% | 25.79% | 24.33% | 21.35% | 22.03% | 22.36% | 23.68% | 25% | 27.78% | 28.81% | 28.99% |
| Net Income | 51.21M | 56.25M | 49.44M | 37.4M | 54.81M | 29.32M | 26.21M | 17.7M | 10.6M | 7.09M | 7.8M | 6.53M | 5.7M | 4.94M | 4.95M | 4.54M | 2.75M | -2.29M | 3.59M | 4.67M | 4.89M | 4.6M | 4.37M | 4.62M | 4.5M | 4.23M | 3.95M | 3.9M | 3.9M | 4.2M | 3.33M |
| Net Margin % | 14.65% | 17.21% | 16.12% | 14.7% | 29.27% | 20.38% | 21.36% | 16.4% | 13.92% | 14.32% | 16.99% | 16.12% | 16.91% | 15.16% | 14.58% | 13.14% | 8.26% | -6.56% | 10.1% | 13.37% | 29.63% | 17.54% | 18.56% | 20.34% | 19.23% | 17.12% | 16.72% | 17.89% | 17.86% | 19.81% | 39.81% |
| Net Income Growth % | 0.33% | 13.78% | 32.2% | -31.76% | 86.93% | 11.87% | 48.07% | 67.05% | 49.47% | -9.16% | 19.55% | 14.51% | 15.43% | -0.24% | 8.98% | 65.32% | 219.74% | -163.96% | -23.19% | -4.44% | 6.19% | 5.36% | -5.33% | 2.67% | 6.26% | 7.14% | 1.23% | 0% | -7.14% | 26.16% | 12.09% |
| Net Income (Continuing) | 51.21M | 56.25M | 49.44M | 37.4M | 54.81M | 29.32M | 26.21M | 17.7M | 10.6M | 7.09M | 7.8M | 6.53M | 5.7M | 4.94M | 4.95M | 4.54M | 2.75M | -2.29M | 3.59M | 4.67M | 4.89M | 4.6M | 4.37M | 4.62M | 4.5M | 4.23M | 3.95M | 3.9M | 3.9M | 4.2M | 3.33M |
| EPS (Diluted) | 2.19 | 2.52 | 2.90 | 2.29 | 3.44 | 2.71 | 3.10 | 2.08 | 1.49 | 1.67 | 1.85 | 1.47 | 1.53 | 1.32 | 1.27 | 1.16 | 0.64 | -0.81 | 1.03 | 1.34 | 1.39 | 1.30 | 1.24 | 1.32 | 1.28 | 1.20 | 1.12 | 1.11 | 1.10 | 1.18 | 1.05 |
| EPS Growth % | -17.71% | -13.1% | 26.64% | -33.43% | 26.94% | -12.58% | 49.04% | 39.6% | -10.78% | -9.73% | 25.85% | -3.92% | 15.91% | 3.94% | 9.48% | 81.25% | 179.01% | -178.64% | -23.13% | -3.6% | 6.92% | 4.84% | -6.06% | 3.13% | 6.67% | 7.14% | 0.9% | 0.91% | -6.78% | 12.38% | 17.98% |
| EPS (Basic) | - | 2.59 | 2.90 | 2.29 | 3.44 | 2.71 | 3.11 | 2.09 | 1.48 | 1.67 | 1.85 | 1.47 | 1.53 | 1.32 | 1.27 | 1.16 | 0.64 | -0.81 | 1.03 | 1.34 | 1.39 | 1.30 | 1.24 | 1.32 | 1.28 | 1.20 | 1.12 | 1.11 | 1.10 | 1.18 | 1.05 |
| Diluted Shares Outstanding | 23.43M | 23.15M | 17.07M | 16.35M | 15.94M | 10.82M | 8.44M | 8.49M | 7.09M | 4.25M | 4.22M | 4.11M | 3.5M | 3.49M | 3.49M | 3.48M | 3.48M | 3.48M | 3.48M | 3.5M | 3.51M | 3.52M | 3.52M | 3.52M | 3.52M | 3.52M | 3.51M | 3.58M | 3.52M | 3.55M | 3.17M |
Commercial Real Estate Concentration
As reported in financial statements, Mid Penn Bancorp achieved a 30.0% year-over-year growth in net interest income during 2026Q1, signaling a robust expansion in interest-earning assets despite the broader challenges of managing funding costs within the competitive Central Pennsylvania banking corridor and the current interest rate environment.
The consistent upward trajectory in NII suggests that the bank has successfully deployed capital into its commercial loan portfolio. However, investors should monitor whether this volume growth is sustainable or if it relies on aggressive pricing that may compress future net interest margins.
According to recent SEC filings, Mid Penn Bancorp's net interest margin remained stagnant at 0.8% in 2026Q1, reflecting a persistent inability to expand spreads as the cost of interest-bearing liabilities continues to track closely with the yields generated from the bank's core commercial loan portfolio.
The lack of margin expansion suggests that the bank is facing significant deposit beta pressure, likely driven by the need to retain core deposits in a competitive rate environment. This margin stagnation warrants further investigation into the bank's asset-liability duration matching and its ability to reprice loans effectively.
Based on the company's reported figures, the efficiency ratio spiked to 46.4% in 2026Q1, a notable departure from the sub-40% levels observed throughout 2024, which may indicate rising non-interest expenses associated with the bank's recent geographic expansion into the Philadelphia and Lehigh Valley markets.
The deterioration in operating leverage suggests that the costs of scaling the branch network and integrating new acquisitions are currently outpacing revenue gains. Analysts should evaluate whether this is a temporary investment phase or a structural increase in the bank's fixed-cost base.
As indicated by the 2026Q1 provision expense of $1.6M, Mid Penn Bancorp is navigating a period of increased credit caution, following a volatile 2025 where the bank recorded both significant provision charges and occasional reversals, reflecting the inherent uncertainty in its commercial real estate loan book.
The fluctuation in provision expense suggests that management is actively adjusting its CECL models to account for potential localized economic headwinds in Pennsylvania. Investors should monitor whether these provisions are sufficient to cover potential impairments in the bank's concentrated commercial real estate and small business loan segments.
Financial data reveals a concerning negative non-interest income of $6.3M in 2026Q1, which significantly detracted from total revenue and highlights a potential vulnerability in the bank's fee-based business lines, such as wealth management and mortgage banking, during periods of market or operational stress.
This negative contribution appears to be an outlier that warrants further investigation into whether it stems from one-time accounting adjustments or a fundamental decline in fee-generating activities. Such volatility in non-interest income undermines the bank's strategy of using wealth management to diversify away from interest rate spread dependency.
Quick answers to the most common questions about buying MPB stock.
Mid Penn Bancorp, Inc. (MPB) is profitable, generating $56.2M in net income for the fiscal year ending 2025 with a net profit margin of 17.2%.
Mid Penn Bancorp, Inc. (MPB) reported an operating income of $72.4M, resulting in an operating profit margin of 22.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Mid Penn Bancorp, Inc. (MPB) generated $201.0M in gross profit for the year, representing a gross profit margin of 61.5%. This demonstrates the company's core pricing power and production efficiency.