A director at Mid Penn Bancorp Inc filed a Form 4 with the Securities and Exchange Commission detailing a series of purchases in the company’s common stock. According to the filing, Matthew G. De Soto acquired a total of $79,930 worth of Mid Penn Bancorp (NASDAQ: MPB) shares on March 12, 2026.
The transactions were recorded under transaction code "P" and reflected multiple tranches bought at slightly different prices. The filing lists the following purchases: 500 shares at $30.91, 500 shares at $30.825, 500 shares at $30.8897, 118 shares at $30.795, 600 shares at $30.835 and 372 shares at $30.87. Following these transactions, De Soto is reported to directly own 114,915.002 shares and to indirectly own 4,299 shares.
Separately, Mid Penn Bancorp reported a material increase in quarterly profitability. The company’s fourth-quarter net income rose 47% to $19.4 million. The reported earnings per share were $0.84 on a basic basis and $0.83 on a diluted basis, figures the company said were in line with analyst expectations.
Mid Penn has also been active on the deal front. The company completed an acquisition of 1st Colonial Bancorp through a cash-and-stock transaction valued at approximately $106.1 million, folding 1st Colonial Community Bank into Mid Penn Bank. While regulatory approvals for that merger were obtained, the transaction still awaits approval from 1st Colonial shareholders, with finalization expected in early 2026.
In addition to that bank acquisition, Mid Penn announced the completion of its purchase of Cumberland Advisors, which adds approximately $3.2 billion in assets under management to the company’s portfolio. Leadership changes were also noted: Mid Penn Bank named Dana Stewart as its new chief operating officer, with the bank noting Stewart brings more than 35 years of industry experience.
Taken together, the recent insider purchase, the quarterly financials and the corporate transactions underscore a period of transactional activity and reported financial improvement at Mid Penn Bancorp. The Form 4 filing documents the precise share counts and prices associated with De Soto’s March 12 transactions, while the company’s disclosures outline recent earnings performance and the status of completed and pending acquisitions.
Summary
Matthew G. De Soto, a director of Mid Penn Bancorp, bought $79,930 of company stock on March 12, 2026, in multiple transactions recorded on an SEC Form 4. Mid Penn reported a 47% increase in fourth-quarter net income to $19.4 million and announced both the completion of the Cumberland Advisors acquisition and the pending finalization of the 1st Colonial Bancorp deal, with Dana Stewart named as chief operating officer.
Key points
- Insider purchase: Director Matthew G. De Soto acquired $79,930 of MPB stock on March 12, 2026, across multiple tranches at prices between $30.795 and $30.91.
- Financial results: Mid Penn Bancorp reported fourth-quarter net income of $19.4 million, a 47% increase, and EPS of $0.84 (basic) and $0.83 (diluted), in line with analyst expectations.
- Strategic moves: The company completed the acquisition of Cumberland Advisors (adding about $3.2 billion in assets under management) and executed a cash-and-stock deal for 1st Colonial Bancorp valued at roughly $106.1 million; the latter awaits shareholder approval expected in early 2026.
Risks and uncertainties
- Pending shareholder approval - The 1st Colonial Bancorp transaction, while having regulatory approvals, remains subject to approval by 1st Colonial shareholders, with finalization anticipated in early 2026; the outcome and timing are not guaranteed.
- Limited information on transaction rationale - The Form 4 documents the share purchases and resulting holdings but does not provide details about the director’s motivations or future plans for these shares, leaving an informational gap for market observers.
Note: The article reflects the information disclosed in the Form 4 filing and the company’s public reporting; it does not provide analysis beyond the stated facts.