William Penn Bancorporation - WMPN STOCK NEWS

Mid Penn Bancorp (NASDAQ: MPB) and William Penn Bancorporation (NASDAQ: WMPN) have secured all necessary regulatory approvals for their proposed merger. The transaction, pending shareholder approvals and customary closing conditions, is scheduled to close in the second quarter of 2025.

The merger will expand Mid Penn's presence in the Greater Philadelphia Metro market, Southeastern Pennsylvania, and Central New Jersey. Upon completion, William Penn Bank will merge into Mid Penn Bank, with the combined entity projected to have $6.3 billion in assets on a pro forma basis.

William Penn Bancorporation (NASDAQ:WMPN) reported financial results for Q4 2024, recording a net loss of $988 thousand ($0.12 per share) compared to net income of $11 thousand in Q4 2023. The company declared a cash dividend of $0.03 per share, payable February 6, 2025.

Key financial metrics include: gross loans increased by $5.4 million (4.6% annualized growth rate), non-performing assets decreased to 0.30% of total assets, and total assets decreased $22.3 million to $796.4 million. The net loss includes $731 thousand in professional fees related to the pending merger with Mid Penn Bancorp.

Book value per share increased to $13.49 from $13.33, while tangible book value per share rose to $12.93 from $12.78. The company completed a stock repurchase program, buying back 135,683 shares at $11.86 per share for a total cost of $1.6 million.

Mid Penn Bancorp (NASDAQ: MPB) and William Penn Bancorporation (NASDAQ: WMPN) have announced a definitive merger agreement valued at approximately $127 million in an all-stock transaction. William Penn shareholders will receive 0.4260 shares of Mid Penn common stock for each William Penn share. The merger will create a combined entity with $6.3 billion in total assets, $4.9 billion in total loans, and $5.3 billion in total deposits. William Penn currently operates 12 branches across Pennsylvania and New Jersey, with $812 million in total assets. The transaction is expected to close in the first half of 2025, subject to regulatory and shareholder approvals.

William Penn Bancorporation (NASDAQ CM:WMPN) reported financial results for the quarter ended September 30, 2024. The company recorded a $21 thousand net loss, or $(0.00) per share, compared to net income of $179 thousand, or $0.02 per share, for the same quarter in 2023. The Board of Directors declared a cash dividend of $0.03 per share, payable on November 7, 2024.

Key highlights include:

• Repurchase of 125,441 shares at a total cost of $1.5 million
• Decrease in non-performing assets to total assets ratio to 0.38%
• $395 thousand recovery for credit losses
• Book value per share increased to $13.91
• Total assets decreased by 0.8% to $812.2 million
• Net interest income decreased by 12.7% to $4.1 million

The company remains focused on maintaining strong credit quality and capital management while navigating the current interest rate environment.

William Penn Bancorporation (NASDAQ CM:WMPN) announced its financial results for Q4 and FY 2024. The company reported a net loss of $158,000 for Q4 and net income of $168,000 for FY 2024. The Board declared a cash dividend of $0.03 per share, payable on August 8, 2024. Despite challenging market conditions, the company's net interest margin expanded by 10 basis points to 2.25% on a linked-quarter basis. William Penn continued its share repurchase program, buying back 96,117 shares at an average cost of $12.06 during Q4. The company maintained strong asset quality with a non-performing assets to total assets ratio of 0.40% as of June 30, 2024.