Mid Penn applies to open branch in Pillow
Mid Penn Bank is seeking regulatory approval to open a new branch in Pillow, Dauphin County.
The bank Tuesday submitted an application to the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corp., according to a Securities and Exchange Commission filing.
“While Mid Penn Bank is continuing to grow across the state and welcome new customers, we remain focused on being the community bank of choice to Upper Dauphin County, where we got our start 150 years ago,” Rory G. Ritrievi, president and CEO of Mid Penn Bank, said in a statement.
Upon receiving the necessary approvals and completing renovations, Mid Penn anticipates opening the branch, located at 193 Market Street, in September 2018.
The bank will provide personal banking, business banking and lending services at the Pillow office.
Headquartered in Millersburg, Mid Penn operates 29 branches in Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Northumberland, Schuylkill and Westmoreland counties.
A subsidiary of Mid Penn Bancorp, Inc., the bank has $1.4 billion in assets.
According to its most recent earnings report, Mid Penn had a net income of $1 million in the first quarter of 2018, down from $2 million in the first quarter of 2017.
The report included nearly $1.7 million in expenses stemming from the bank’s acquisition of The Scottdale Bank & Trust Co., which closed in January, and a proposed merger with First Priority Financial Corp.