MILLERSBURG, Pa., Dec. 21, 2016 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ:MPB), the parent company of Mid Penn Bank, today announced that its Board of Directors has declared a special dividend of $0.10 per common share based on expected earnings for the year 2016. The dividend is payable on January 17, 2017 to shareholders of record on January 4, 2017.
“Mid Penn anticipates reporting successful year-end results, and this special dividend, in addition to the regular quarterly dividend payments, is another way the Board of Directors is exercising its commitment to providing our shareholders with a meaningful return on their investment,” said Mid Penn President and CEO Rory G. Ritrievi.
SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS
Certain of the matters discussed in this press release may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mid Penn to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The words “expect”, “anticipate”, “intend”, “plan”, “believe”, “estimate”, and similar expressions are intended to identify such forward-looking statements.
Mid Penn’s actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation:
| • | The effects of future economic conditions on Mid Penn and its customers; | |||
| • | Governmental monetary and fiscal policies, as well as legislative and regulatory changes; | |||
| • | Possible impacts of the capital and liquidity requirements proposed by the Basel III standards and other regulatory pronouncements, regulations and rules; | |||
| • | The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; | |||
| • | The risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities and interest rate protection agreements, as well as interest rate risks; | |||
| • | The effects of economic deterioration and the prolonged economic malaise on current customers, specifically the effect of the economy on loan customers’ ability to repay loans; | |||
| • | The effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in Mid Penn’s market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the internet; | |||
| • | The costs and effects of litigation and of unexpected or adverse outcomes in such litigation; | |||
| • | Technological changes; | |||
| • | Acquisitions and integration of acquired businesses; | |||
| • | The failure of assumptions underlying the establishment of reserves for loan and lease losses and estimations of values of collateral and various financial assets and liabilities; | |||
| • | Acts of war or terrorism; | |||
| • | Volatilities in the securities markets; and | |||
| • | Slow economic conditions. |
All written or oral forward-looking statements attributable to Mid Penn are expressly qualified in their entirety by these cautionary statements. The forward-looking statements are based on management's current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond Mid Penn’s control. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release. Although Mid Penn does not make forward-looking statements unless it believes it has a reasonable basis for doing so, Mid Penn cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect Mid Penn’s results, see Mid Penn’s filings with the Securities and Exchange Commission, "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" set forth in Mid Penn’s Quarterly Report on Form 10-Q for the period ended September 30, 2016. No undue reliance should be placed on any forward-looking statements.