Mid Penn Bancorp, Inc. and 1st Colonial Bancorp, Inc. Receive Regulatory Approvals for Merger
Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB), the parent company of Mid Penn Bank, and 1st Colonial Bancorp, Inc. (“1st Colonial”) (OTCPK: FCOB), the parent company of 1st Colonial Community Bank, announced today that they have received all required regulatory approvals to complete the previously announced transaction pursuant to which Mid Penn will acquire 1st Colonial in a cash and stock transaction valued at approximately $101 million. Pending receipt of approval from shareholders of 1st Colonial, and certain other customary closing conditions, the parties intend to close the transaction in the first quarter of 2026. Following completion of the merger, 1st Colonial will be merged with and into Mid Penn Bank.
“We are pleased to have received regulatory approval for our merger with 1st Colonial,” Mid Penn Chair, President and CEO Rory G. Ritrievi said. “With this approval, we can turn our focus to completing the merger and preparing for a seamless integration that supports our customers, communities, and shareholders.”
The merger will further extend Mid Penn’s footprint into the greater Philadelphia metropolitan area, and will expand its presence in southeastern Pennsylvania and southern New Jersey. Mid Penn, on a pro forma basis following completion of the merger, is expected to have approximately $7.5 billion in assets as of March 31, 2026.
About Mid Penn Bancorp, Inc.
Mid Penn Bancorp Inc. (NASDAQ: MPB), headquartered in Harrisburg, Pennsylvania, is the parent company of Mid Penn Bank, a full-service commercial bank. Mid Penn operates 59 retail locations throughout Pennsylvania and central and southern New Jersey, has total assets of over $6 billion, and offers a comprehensive portfolio of financial products and services to the communities it serves.
About 1st Colonial Bancorp, Inc.
1st Colonial Bancorp, Inc, is a Pennsylvania corporation headquartered in Mount Laurel, New Jersey, and the parent company of 1st Colonial Community Bank (the “Bank”). The Bank provides a range of business and consumer financial services, placing emphasis on customer service and access to decision makers. Headquartered in Collingswood, New Jersey, the Bank has branches in Westville, New Jersey and Limerick, Pennsylvania. The Bank also has administrative offices in Mount Laurel, New Jersey.
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