HARRISBURG, Pa., May 22, 2023 (GLOBE NEWSWIRE) — Mid Penn Bancorp, Inc. (“Mid Penn”) MPB announced today that the acquisition of Brunswick Bancorp (“Brunswick”) has closed after close of business on May 19, 2023. In connection with the holding company merger, Brunswick’s banking subsidiary, Brunswick Bank &Trust Company, was merged with and into Mid Penn’s banking subsidiary, Mid Penn Bank.

The combined stock and cash transaction was valued at approximately $43.7 million and will expand Mid Penn’s presence into Middlesex and Monmouth counties in central New Jersey. The combined assets of the combined company are estimated to be approximately $5 billion.

“We are pleased to welcome Brunswick clients, employees and shareholders to Mid Penn and Mid Penn Bank,” said Rory G. Ritrievi, President and CEO of Mid Penn. “As we launch the Mid Penn community banking brand in compelling new markets in New Jersey, we are committed to making this combination positive for all stakeholders. We believe in our commitment to providing the best products and services provided by the best financial services providers. Professionals are valued by customers and the local community at large.”

Piper Sandler & Co. acted as financial advisor to Mid Penn in connection with the transaction and Stephens Inc. provided a fairness opinion to Mid Penn’s board of directors. Pillar+Aught LLC acted as legal counsel to Mid Penn on the transaction. Janney Montgomery Scott LLC acted as financial advisor to Brunswick in connection with the transaction and provided a fairness opinion to Brunswick’s board of directors. Windels Marx Lane & Mittendorf, LLP acted as legal counsel to Brunswick.

About Mid Penn Bancorp, Inc.

Mid Penn Bancorp Inc. MPBHeadquartered in Harrisburg, Pennsylvania, is the parent company of Mid Penn Bank, a full-service commercial bank, and MPB Financial Services, LLC, a provider of specialized investment strategy, insurance and planning services for individuals, families,…