- **Mid Penn Bancorp, Inc. (MPB)** has entered into an agreement to acquire **Cumberland Advisors**, a Sarasota, FL-based Registered Investment Advisory firm.  **[879635_0001193125-25-217444_d59054dex991.htm:0]** 
- Cumberland Advisors recorded a year-to-date annualized revenue of **$9.0 million** as of the quarter ended June 30, 2025, and is expected to add approximately **$3.3 billion** in new assets under management (AUM).  **[879635_0001193125-25-217444_d59054dex991.htm:0]** **[879635_0001193125-25-217444_d59054dex992.htm:3]** 
- The transaction has a base deal value of **$5.5 million**, with **70% payable in stock**, and potential additional payments of up to **$2.2 million** based on milestones.  **[879635_0001193125-25-217444_d59054dex992.htm:3]** **[879635_0001193125-25-217444_d59054d8k.htm:5]** 
- The acquisition is expected to be **earnings-accretive immediately upon closing**, minimally accretive to EPS (**~1%**), and minimally dilutive to TBV (**~1%**).  **[879635_0001193125-25-217444_d59054dex991.htm:0]** **[879635_0001193125-25-217444_d59054dex992.htm:3]** 
- The transaction is anticipated to close in the **fourth quarter of 2025**.  **[879635_0001193125-25-217444_d59054dex991.htm:0]** **[879635_0001193125-25-217444_d59054d8k.htm:5]**

Mid Penn Bancorp to Acquire Cumberland Advisors

- **Mid Penn Bancorp** has announced a definitive agreement to acquire **1st Colonial Bancorp** in a **cash and stock transaction valued at approximately $101 million**.  **[879635_c11630ef32f844cfb357ad5dae716332]** 
- The acquisition is expected to close in **late Q1 or early Q2 of 2026** and is projected to be **immediately accretive to earnings per share** for Mid Penn.  **[879635_c11630ef32f844cfb357ad5dae716332]** 
- This strategic merger will expand Mid Penn's presence into the **greater Philadelphia metropolitan area**, resulting in a combined entity with **more than 60 branch locations**.  **[879635_c11630ef32f844cfb357ad5dae716332]** 
- As of **June 30, 2025**, 1st Colonial Bancorp reported **total assets of approximately $590 million**, **total deposits of $520 million**, and **total loans of $475 million**.  **[879635_c11630ef32f844cfb357ad5dae716332]**

Mid Penn Bancorp to Acquire 1st Colonial Bancorp

- Mid Penn Bancorp, Inc. (MPB) announced an agreement to acquire 1st Colonial Bancorp, Inc. for approximately **$101 million** in a cash and stock transaction, expected to close in late Q1 or early Q2 **2026**.  **[879635_0001193125-25-215407_d947601dex991.htm:0]** 
- 1st Colonial shareholders can elect to receive either **0.6945 shares of Mid Penn common stock** or **$18.50 in cash** per share, subject to a **60% stock and 40% cash** consideration mix, valuing the transaction at approximately **$20.03 per 1st Colonial common share**.  **[879635_0001193125-25-215407_d947601dex991.htm:1]** 
- This acquisition will expand Mid Penn's presence in the greater Philadelphia metropolitan area, creating a combined entity with pro forma total assets exceeding **$7.2 billion**, total deposits of approximately **$6.2 billion**, and gross loans over **$5.4 billion** as of June 30, 2025.  **[879635_0001193125-25-215407_d947601dex991.htm:0]** 
- The merger is anticipated to be **immediately accretive to Mid Penn's estimated earnings per share**, with projected **14% EPS accretion** for full year 2027, approximately **6% TBV dilution**, and a **24% Internal Rate of Return**.  **[879635_0001193125-25-215407_d947601dex991.htm:1]** **[879635_0001193125-25-215407_d947601dex992.htm:6]** **[879635_0001193125-25-215407_d947601dex992.htm:8]**

MID PENN BANCORP (MPB)