Business acquisition completion

Mid Penn Bancorp Completes 1st Colonial Acquisition

Analysis based on 7 articles · First reported Feb 06, 2026 · Last updated Mar 02, 2026

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Market Impact

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Market Impact

The acquisition completion is expected to have a positive impact on the regional banking market, as Mid Penn Bancorp expands its footprint and increases its consolidated assets to approximately $7 billion. This move signifies continued consolidation within the financial services industry, potentially leading to increased competition and enhanced service offerings in the greater Philadelphia and southern New Jersey areas.

Banking Financial services

Event Summary

Mid Penn Bancorp, Inc. announced the completion of its acquisition of 1st Colonial Bancorp, Inc. on February 27, 2026. This cash-and-stock transaction, valued at approximately $106.1 million, involved the merger of 1st Colonial's banking subsidiary, 1st Colonial Bancorp, Inc.===1st Colonial Community Bank, into Mid Penn's subsidiary bank, Mid Penn Bancorp===Mid Penn Bank. The acquisition significantly expands Mid Penn's presence into the greater Philadelphia metropolitan area and southern New Jersey, bringing the combined company's total assets to approximately $7 billion. Rory G. Ritrievi, Mid Penn's Chair, President, and CEO, expressed enthusiasm for welcoming new customers and employees, emphasizing a smooth transition and continued personalized service. Additionally, Thomas R. Brugger, a former director of 1st Colonial, was appointed to the board of Mid Penn Bancorp, Inc. and Mid Penn Bancorp===Mid Penn Bank. Stifel Financial===Keefe, Bruyette & Woods and Holland & Knight LLP advised Mid Penn, while Stephens Inc. and Stradley Ronon Stevens & Young, LLP advised 1st Colonial.

Key Actions

100 Mid Penn Bancorp completed acquisition 1st Colonial Bancorp, Inc.

90 1st Colonial Bancorp, Inc. was acquired Mid Penn Bancorp

80 1st Colonial Bancorp, Inc.===1st Colonial Community Bank merged into Mid Penn Bancorp===Mid Penn Bank

40 Thomas R. Brugger appointed as director Mid Penn Bancorp

30 Stifel Financial===Keefe, Bruyette & Woods served as financial advisor Mid Penn Bancorp

30 Holland & Knight served as legal advisor Mid Penn Bancorp

30 Stephens Inc. served as financial advisor and rendered fairness opinion 1st Colonial Bancorp, Inc.

30 Stradley Ronon Stevens & Young served as legal advisor 1st Colonial Bancorp, Inc.

Entities Involved

stock

Mid Penn Bancorp

Mid Penn Bancorp completed its acquisition of 1st Colonial Bancorp, Inc., expanding its market presence in the greater Philadelphia metropolitan area and southern New Jersey. The consolidated assets of the combined company now total approximately $7 billion.

Importance 100 Sentiment 20

stock

1st Colonial Bancorp, Inc.

1st Colonial Bancorp, Inc. was acquired by Mid Penn Bancorp, Inc., with its banking subsidiary, 1st Colonial Bancorp, Inc.===1st Colonial Community Bank, merging into Mid Penn Bancorp===Mid Penn Bank. This transaction concludes its independent operation.

Importance 90 Sentiment 20

subs

Mid Penn Bancorp===Mid Penn Bank

Mid Penn Bancorp===Mid Penn Bank's subsidiary bank merged with 1st Colonial Bancorp, Inc.===1st Colonial Community Bank, expanding its operations and customer base in new regions. This merger enhances its ability to serve customers with additional resources.

Importance 80 Sentiment 20

subs

1st Colonial Bancorp, Inc.===1st Colonial Community Bank

1st Colonial Bancorp, Inc.===1st Colonial Community Bank merged with and into Mid Penn Bancorp===Mid Penn Bank as part of the acquisition of its parent company, 1st Colonial Bancorp, Inc., by Mid Penn Bancorp. This integration expands Mid Penn Bancorp===Mid Penn Bank's footprint.

Importance 70 Sentiment 20

per

Rory G. Ritrievi

As Chair, President, and CEO of Mid Penn Bancorp, Inc., Rory G. Ritrievi expressed satisfaction with the merger's completion and emphasized a smooth transition for customers and employees.

Importance 60 Sentiment 10

per

Thomas R. Brugger

Thomas R. Brugger, a former director of 1st Colonial Bancorp, Inc., was appointed to serve as a director of Mid Penn Bancorp, Inc. and Mid Penn Bancorp===Mid Penn Bank following the merger.

Importance 40 Sentiment 10

subs

Stifel Financial===Keefe, Bruyette & Woods

Stifel Financial===Keefe, Bruyette & Woods served as the exclusive financial advisor to Mid Penn Bancorp, Inc. in the acquisition.

Importance 30 Sentiment 10

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Relationships

Mid Penn Bancorp===Mid Penn Bank related ↔ Mid Penn Bancorp

1st Colonial Bancorp, Inc.===1st Colonial Community Bank related ↔ 1st Colonial Bancorp, Inc.

Rory G. Ritrievi related ↔ Mid Penn Bancorp

Thomas R. Brugger related ↔ Mid Penn Bancorp

Thomas R. Brugger related ↔ 1st Colonial Bancorp, Inc.

Mid Penn Bancorp related ↔ 1st Colonial Bancorp, Inc.

Mid Penn Bancorp related ↔ 1st Colonial Bancorp, Inc.===1st Colonial Community Bank

1st Colonial Bancorp, Inc. related ↔ Mid Penn Bancorp===Mid Penn Bank

Mid Penn Bancorp===Mid Penn Bank related ↔ 1st Colonial Bancorp, Inc.===1st Colonial Community Bank

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