Mid Penn Bancorp Inc. announced that its acquisition of 1st Colonial Bancorp Inc. was completed after the close of business on Feb. 27, 2026. In connection with the holding company merger, 1st Colonial’s banking subsidiary, 1st Colonial Community Bank, has been merged with and into Mid Penn’s subsidiary bank, Mid Penn Bank.

The cash-and-stock transaction was valued at approximately $106.1 million and further extends Mid Penn’s footprint into the greater Philadelphia metropolitan area and southern New Jersey. The consolidated assets of the combined company total approximately $7 billion.

"We are pleased to complete our merger with 1st Colonial and to welcome its customers and employees to Mid Penn Bank and its shareholders to Mid Penn Bancorp, Inc.," Mid Penn Chair, President and CEO Rory G. Ritrievi said. "This transaction builds on our existing presence in the greater Philadelphia and southern New Jersey markets and enhances our ability to serve customers with additional resources and capabilities. Our focus now is on executing a smooth transition and continuing to deliver the personalized service our customers and communities expect."

In connection with the merger, Thomas R. Brugger, a former director of 1st Colonial, was appointed to serve as a director of Mid Penn and Mid Penn Bank, effective as of the effective time of the merger.

Keefe, Bruyette & Woods, A Stifel Company, served as exclusive financial advisor to Mid Penn and Holland & Knight LLP served as Mid Penn’s legal advisor in the transaction. Stephens Inc. served as exclusive financial advisor to 1st Colonial and rendered a fairness opinion to 1st Colonial, and Stradley Ronon Stevens & Young, LLP served as 1st Colonial’s legal advisor in the transaction.