Shareholders of Mid Penn Bancorp, Inc. and Riverview Financial Corporation Approve Merger
November 18 2021 - 5:16PM
Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB) and Riverview
Financial Corporation (“Riverview”) (NASDAQ: RIVE) announced today
that shareholders from both Mid Penn and Riverview overwhelmingly
approved Mid Penn’s proposed acquisition of Riverview at special
meetings of their respective shareholders held on November 18,
2021.
“The level of support for this transaction was tremendous,” said
Rory G. Ritrievi, President and CEO of Mid Penn Bancorp, Inc. “Of
the total number of votes received, over 98% of Riverview shares
voted in favor of the merger and more than 98% of Mid Penn shares
also voted in favor of the merger.”
The merger will extend Mid Penn’s footprint into attractive new
markets, including the Lehigh Valley and State College region, and
will expand its presence in Western Pennsylvania. Mid Penn, on a
pro forma basis following completion of the merger, is expected to
have $4.7 billion in assets. The acquisition is subject to various
conditions to closing and is anticipated to close on November 30,
2021.
About Mid Penn Bancorp, Inc.
Mid Penn Bancorp Inc. (NASDAQ: MPB), headquartered in
Millersburg, Pennsylvania, has been serving the community since
1868. Mid Penn has 36 retail locations in the state of Pennsylvania
and total assets of more than $3 billion. Its footprint includes
Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster,
Luzerne, Montgomery, Northumberland, Schuylkill and Westmoreland
counties. The bank offers a comprehensive portfolio of products and
services to meet the banking needs of the communities it serves. To
learn more about Mid Penn Bank, visit www.midpennbank.com.
About Riverview Financial Corporation
Riverview Financial Corporation is the parent company of
Riverview Bank. An independent community bank, Riverview Bank
serves the Pennsylvania market areas of Berks, Blair, Bucks,
Centre, Clearfield, Cumberland, Dauphin, Huntingdon, Lebanon,
Lehigh, Lycoming, Perry and Schuylkill Counties through 23
community banking offices and three limited purpose offices. Each
office, interdependent with the community, offers a comprehensive
array of financial products and services to individuals,
businesses, not-for-profit organizations and government
entities.
Safe Harbor for Forward-Looking Statements
This document may contain forward-looking statements as defined
in the Private Securities Litigation Reform Act of 1995. Actual
results and trends could differ materially from those set forth in
such statements due to various risks, uncertainties and other
factors. Such risks, uncertainties and other factors that could
cause actual results and experience to differ from those projected
include, but are not limited to, the following: the continued
effectiveness of regulatory approvals and the satisfaction of other
closing conditions to the merger; the timing of closing the merger;
difficulties and delays in integrating the business or fully
realizing cost savings and other benefits; ineffectiveness of the
company’s business strategy due to changes in current or future
market conditions; the effects of competition, and of changes in
laws and regulations, including industry consolidation and
development of competing financial products and services; interest
rate movements; changes in credit quality; inability to achieve
other merger-related synergies; difficulties in integrating
distinct business operations, including information technology
difficulties; volatilities in the securities markets; and
deteriorating economic conditions, and other risks and
uncertainties, including those detailed in Mid Penn Bancorp, Inc.’s
and Riverview Financial Corporation’s filings with the Securities
and Exchange Commission (SEC).
Contact:
Mid Penn Bancorp, Inc.
Matt Miller
matt.miller@midpennbank.com
484-527-4025
Riverview Financial Corporation
Scott A. Seasock
sseasock@riverviewbankpa.com
717-827-4039
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