Stephon Kenneth John, who serves as Chief Corporate Development Officer and a director at Mid Penn Bancorp, Inc. (EXCHANGE:MPB), executed a small sale of company stock on February 24, 2026. The transaction consisted of 0.818 shares sold at $32.58 per share, yielding proceeds of $26.
As of the reported transaction, Stephon retains sizeable holdings in Mid Penn Bancorp across multiple account types. His direct holdings include 40,085 shares of Mid Penn Bancorp, Inc. common stock, augmented by 949.475 shares held through an ESOP and 37,837 shares in an IRA. He also holds 21,538 shares categorized as Mid Penn Bancorp, Inc. common restricted stock. Additionally, he controls options to purchase 134,616 shares.
Mid Penn Bancorp is a regional bank with an indicated market valuation of $763 million. The company has paid dividends for 16 consecutive years and currently yields 2.63%. The stock trades at $33.10, reflecting a 21% gain over the past 12 months, with shares noted to be trading near InvestingPro's Fair Value estimate.
Beyond the insider transaction, the bank announced several material corporate developments. For the fourth quarter of 2025, Mid Penn Bancorp reported net income of $19.4 million, a 47% increase compared with the prior period. That result translated into earnings in line with analyst expectations at $0.84 per basic share.
Strategic expansion continued with the completion of Mid Penn Bancorp's acquisition of Cumberland Advisors, Inc. The deal brings approximately $3.2 billion in assets under management under Mid Penn Bancorp's control. Cumberland will operate as a subsidiary under the name Cumberland Advisors, LLC.
On the regulatory front, Mid Penn Bancorp and 1st Colonial Bancorp, Inc. have secured the necessary approvals to proceed with their planned $101 million merger, which remains subject to a shareholder vote. Leadership changes were also announced: Dana Stewart was appointed Chief Operating Officer, effective January 5, 2026. Stewart, described as having over 35 years of experience, will oversee the bank's loan and deposit operations.
These items together paint a picture of modest insider activity in the context of broader operational and strategic developments at Mid Penn Bancorp. The sale recorded by Stephon is numerically small compared with his overall holdings and the company's recent corporate actions.