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Mid Penn Bancorp, Inc. Reports Second Quarter Earnings and Declares 59th Consecutive Quarterly Dividend
HARRISBURG, Pa.--(BUSINESS WIRE)--Mid Penn Bancorp, Inc. (NASDAQ: MPB) ("Mid Penn"), the parent company of Mid Penn Bank (the "Bank") and MPB Financial Services, LLC, today reported net income available to common shareholders ("earnings") for the quarter ended June 30, 2025, of $4.8 million, or $0.22 per diluted common share, compared to net income of $11.8 million, or $0.71 per diluted common share, for the second quarter of 2024. Net income, excluding non-recurring income and expenses (1) for the second quarter of 2025, was $15.1 million. Adjusted earnings per common share excluding non-recurring income and expenses (1) was $0.70, exceeding the consensus analyst estimate of $0.69 per diluted common share for the second quarter of 2025. Adjustments exclude $8.7 million of after-tax merger-related expenses and $1.6 million of non-recurring compensation expenses. Key Highlights of the Second Quarter of 2025: On April 30, 2025, Mid Penn completed the acquisition of William Penn Bancorporation ("William Penn"), which added total assets of $757.3 million, comprised primarily of $431.4 million of loans. Additionally, on May 12, 2025, Mid Penn acquired the insurance business and related accounts of Charis Insurance Group, which provides business, home and auto insurance throughout central and southeast Pennsylvania. Net income available to common shareholders decreased 59.5% to $4.8 million, or $0.22 per diluted common share, for the second quarter of 2025, compared to net income of $11.8 million, or $0.71 per diluted common share, for the second quarter of 2024. On a non-GAAP basis, net income excluding non-recurring income and expenses (1) for the quarter ended June 30, 2025, increased 33.6% to $15.1 million, or $0.70 per diluted common share, compared to $11.3 million, or $0.68 per diluted common share, for the second quarter of 2024. Net interest margin increased to 3.44% for the quarter ended June 30, 2025, compared to 3.37% for the first quarter of 2025, representing a 7 basis point ("bp") increase compared to the first quarter of 2025. Cost of funds decreased to 2.44% for the quarter ended June 30, 2025, compared to 2.48% for the first quarter of 2025. Despite a higher total interest expense, cost of funds improved during the quarter, primarily due to the growth in average interest-bearing liabilities, driven in part by the addition of lower-cost deposits acquired in the William Penn acquisition. These deposits helped dilute the overall cost of funding, contributing to the improvement. The yield on loans increased to 6.15% for the quarter ended June 30, 2025, compared to 6.05% for the first quarter of 2025. Net interest margin increased to 3.44% for the quarter ended June 30, 2025, compared to 3.12% for the second quarter of 2024, representing a 32 bp increase compared to the same period in 2024. Loan growth for the second quarter of 2025 was $341.7 million, or 30.5% (annualized). Total loans increased $468.3 million, or 10.7%, to $4.8 billion at June 30, 2025, compared to $4.4 billion at June 30, 2024. Excluding the William Penn acquisition loans of $431.4 million, the organic loan portfolio for the quarter ended June 30, 2025 declined $89.6 million or 2.0% from the first quarter of 2025. This decline was primarily driven by elevated payoffs as commercial real estate construction loans stabilized and obtained non-recourse permanent financing. Deposits increased $717.5 million, or 60.8% (annualized), during the second quarter of 2025, compared to an increase of $42.3 million, or 3.7% (annualized), during the first quarter of 2025. This increase was driven by a $397.5 million increase in interest-bearing transaction accounts, a $68.8 million increase in noninterest-bearing accounts, and a $251.2 million increase in time deposits. Total deposits increased $952.7 million or 21.18% to $5.4 billion at June 30, 2025, compared to $4.5 billion at June 30, 2024. Organic deposit growth for the quarter ended June 30, 2025 was $96.2 million or 8.2%, annualized (excluding William Penn acquisition deposits of $621.3 million), from the first quarter of 2025. The core efficiency ratio (1) improved to 62.56% in the second quarter of 2025, compared to 62.79% in the first quarter of 2025, and 63.65% in the second quarter of 2024. Book value per common share declined to $33.85 as of June 30, 2025, compared to $34.50 as of March 31, 2025, and improved compared to $33.76 as of June 30, 2024. Tangible book value per common share (1) was $27.22 as of June 30, 2025, compared to $27.58 and $25.75 as of March 31, 2025 and June 30, 2024, respectively. The decline in book value primarily reflects the impact of the William Penn acquisition, including the issuance of additional common shares and the addition of acquisition related goodwill and other intangibles. As a result of the foregoing, the Board of Directors declared a cash dividend of $0.20 per common share, payable August 25, 2025, to shareholders of record as of August 8, 2025. Chair, President and CEO Rory G. Ritrievi provided the following statement: "The second quarter of 2025 for Mid Penn was virtually in line with what we expected. While our GAAP earnings were impacted by the completion of the William Penn acquisition within the quarter, excluding those one-time expenses establishes non-GAAP earnings of $0.70 per share, slightly in excess of the consensus estimate of $0.69 per share. Organic loan growth for the second quarter was negative by $89.6 million, or 2%, and since year end 2024, it is negative $42 million, or 1%. Throughout the first six months of 2025, we have had significant commercial real estate construction projects that reached completion and/or stabilization and, therefore, were refinanced out of a bank loan that significantly increased our natural principal runoff. At the same time, we have experienced the softest loan demand we have seen in many years. We attribute that soft demand to concerns over tariffs, interest rates, and the overall state of the economy. We are optimistic that loan pipelines will begin to improve through the rest of the year, and fully expect that we will hit the bottom end of our original loan growth target range by the end of the year. Organic deposit growth for the second quarter was $96 million, or 2%, and since the start of 2025, is $138 million, or almost 3%. With competition for deposits at an all-time high, I think those six-month growth numbers are solid. As with loan growth, I fully expect that we will reach the mid-point of our original target range on deposit growth by the end of the year. Throughout the quarter, we had improvements in net interest margin, cost of deposits, yields on loans, noninterest income and efficiency ratio, along with another solid quarter in asset quality, leading us to the consensus beat, notwithstanding the pullback in loans outstanding. We are encouraged by the results for the quarter while successfully completing the William Penn acquisition, and we are cautiously optimistic about what to anticipate for the remainder of 2025. It is our pleasure to announce that the Board has authorized its 59th consecutive quarterly dividend, a cash dividend of $0.20 per share of common stock, which was declared at its meeting on July 23, 2025, payable on August 25, 2025, to shareholders of record as of August 8, 2025." Net Interest Income For the three months ended June 30, 2025, net interest income was $48.2 million, compared to net interest income of $42.5 million for the three months ended March 31, 2025, and $38.8 million for the three months ended June 30, 2024. Interest income for the second quarter of 2025 includes $910 thousand of purchase accounting loan accretion related to the William Penn acquisition. This accretion reflects the recognition of fair value marks on acquired loans, which are accreted into interest income over the expected life of the assets. The tax-equivalent net interest margin for the three months ended June 30, 2025 was 3.44% compared to 3.37% and 3.12% for the first quarter of 2025 and second quarter of 2024, respectively, representing a 7 bp increase from the first quarter of 2025, and a 32 bp increase compared to the same period in 2024. The yield on interest-earning assets increased to 5.69% for the quarter ended June 30, 2025, from 5.65% for the three months ended March 31, 2025, and remained flat at 5.69% for the three months ended June 30, 2024. The increase from the first quarter of 2025 was primarily due to an increase in interest income on loans, and an increase in the average balance of Federal Funds Sold. For the six months ended June 30, 2025, net interest income increased 20.6% to $90.7 million compared to net interest income of $75.2 million for the same period of 2024. The increase was primarily driven by a $9.7 million increase in interest income on loans, a $2.3 million increase in Fed Funds Sold, partially offset by a $4.5 million increase in interest expense on deposits, and a $7.4 million decrease in the interest paid on short term borrowings, compared to the same period of 2024. Average Balances Average balances were significantly impacted by the William Penn acquisition given that the acquisition closed on April 30, 2025. Day one increases in loans, total assets, deposits, and total liabilities were $431.4 million, $757.3 million, $621.3 million, and $635.0 million, respectively. Average loans increased $265.0 million to $4.7 billion for the quarter ended June 30, 2025, compared to $4.5 billion for the quarter ended March 31, 2025, and increased $371.3 million compared to $4.4 billion for the quarter ended June 30, 2024. Average deposits were $5.2 billion for the second quarter of 2025, reflecting an increase of $478.0 million, or 10.2%, compared to total average deposits of $4.7 billion in the first quarter of 2025, and an increase of $708.1 million, or 15.9%, compared to total average deposits of $4.5 billion for the second quarter of 2024, primarily due to the William Penn acquisition and organic growth. The average cost of deposits was 2.41% for the second quarter of 2025, representing a 2 bp decrease and an 18 bp decrease from the first quarter of 2025 and the second quarter of 2024, respectively. Cost of funds decreased to 2.44%, compared to 2.48% for the first quarter of 2025. Despite a higher total interest expense, cost of funds declined during the quarter, primarily due to the growth in average interest-bearing liabilities, driven in part by the addition of lower-cost deposits acquired in the William Penn acquisition. These deposits helped dilute the overall cost of funding, contributing to the decline. Asset Quality The total provision for credit losses, including provision for credit losses on off-balance sheet credit exposures, was $2.3 million for the three months ended June 30, 2025, an increase of $2.0 million compared to the provision for credit losses of $301 thousand for the three months ended March 31, 2025, and a $665 thousand increase compared to the provision for credit losses of $1.6 million for the three months ended June 30, 2024. The increase in provision was primarily driven by a $2.3 million reserve established for non-PCD (Purchased Credit Deteriorated) loans acquired in the William Penn acquisition, offset by an $866 thousand decrease in reserve required for individually analyzed loans. Net charge offs for the three months ended June 30, 2025, were $811 thousand or less than 0.02% of total average loans. The provision for credit losses on loans was $2.6 million for the six months ended June 30, 2025, an increase of $1.4 million compared to the provision for credit losses of $1.2 million for the six months ended June 30, 2024. This increase for the six months ended June 30, 2025 was primarily due to a $2.3 million reserve on non-PCD loans acquired through the William Penn acquisition. The provision for credit losses on off-balance sheet credit exposures was $23 thousand and $3 thousand for the three and six months ended June 30, 2025, respectively. The increase was primarily driven by new participations in construction loans originated in the second quarter. Allowance for credit losses - loans was 0.78%, 0.80%, and 0.81% of loans, net of unearned income at June 30, 2025, March 31, 2025, and June 30, 2024, respectively. Total nonperforming assets were $28.0 million at June 30, 2025, compared to nonperforming assets of $25.4 million and $10.4 million at March 31, 2025 and June 30, 2024, respectively. The increase during the second quarter of 2025 primarily related to $2.6 million of non-accrual loans acquired from William Penn, partially offset by reductions to other non-accrual loans. Delinquency, measured as loans past due 30 days or more, as a percentage of total loans was 0.58% at June 30, 2025, compared to 0.50% and 0.57% as of March 31, 2025 and June 30, 2024, respectively. Capital Shareholders' equity increased $120.7 million, or 18.4%, from $655.0 million as of December 31, 2024, to $775.7 million as of June 30, 2025. Retained earnings increased $105 thousand, or 0.1%, from $191.5 million as of March 31, 2025 to $191.6 million as of June 30, 2025. The increase was primarily due to the William Penn acquisition. Regulatory capital ratios for both Mid Penn and the Bank indicate regulatory capital levels in excess of both the regulatory minimums and the levels necessary for the Bank to be considered "well capitalized" at June 30, 2025. Additionally, Mid Penn declared $4.7 million in dividends during the second quarter of 2025. On April 23, 2025, Mid Penn's Board of Directors reauthorized its treasury stock repurchase program ("The Program") effective through April 30, 2026. The Program authorizes the repurchase of up to $15.0 million of Mid Penn's outstanding common stock. During the three months ended June 30, 2025, Mid Penn repurchased 48,064 shares of common stock at an average price of $28.36. No shares were repurchased in the first quarter for 2025. As of June 30, 2025, Mid Penn repurchased a total of 488,786 shares of common stock at an average price of $23.33 per share under the Program. The Program had approximately $3.6 million remaining available for repurchase as of June 30, 2025. Noninterest Income For the three months ended June 30, 2025, noninterest income totaled $6.1 million, an increase of $904 thousand, or 17.3%, compared to noninterest income of $5.2 million for the first quarter of 2025. The increase is primarily due to a $266 thousand increase in fiduciary and wealth management, a $217 thousand increase in earnings from the cash surrender value of life insurance as a result of policies assumed during the William Penn acquisition, and a $199 thousand increase in other noninterest income. The William Penn acquisition provides an opportunity for continued expansion into the Philadelphia markets, enabling the development of new wealth management and insurance customer relationships, which will help strengthen noninterest income. For the six months ended June 30, 2025, noninterest income totaled $11.4 million, an increase of $216 thousand, or 1.9%, compared to noninterest income of $11.2 million for the six months ended June 30, 2024. The increase in noninterest income is primarily driven by a $285 thousand increase in fiduciary and wealth management, a $215 thousand increase in mortgage banking income, and a $180 thousand increase in earnings from the cash surrender value of life insurance as a result of policies assumed during the William Penn acquisition, offset by a $512 thousand decrease in other miscellaneous noninterest income, driven by a $1.9 million decrease in Bank-owned life insurance benefits received, partially offset by a $568 thousand increase in loan level swap fees. Noninterest Expense For the three months ended June 30, 2025, noninterest expense totaled $47.8 million, an increase of $17.2 million, or 55.99%, compared to noninterest expense of $30.6 million in the first quarter of 2025. Merger and acquisition expenses increased $10.7 million, which includes $10.5 million of merger related expenses related to the William Penn acquisition and $164 thousand related to the Charis Insurance Group acquisition. Salaries and benefits increased $4.4 million for the three months ended June 30, 2025 compared to the first quarter of 2025. The increase is attributable to (i) equity-based compensation expense for stock options and restricted stock awards totaling $2.0 million that were recognized during the second quarter of 2025. (Future expected compensation expense related to these awards is approximately $753 thousand for the third quarter of 2025 and $2.2 million over the remaining vesting periods); (ii) the retail staff additions at the twelve retail locations added through the William Penn acquisition; and (iii) the retention of various William Penn team members through the completion of systems integration, which occurred on June 20, 2025. Software licensing and utilization costs increased $698 thousand compared to the first quarter of 2025. The increase reflects additional costs to (i) license the additional William Penn branches; and (ii) upgrades to internal systems, including network storage, cybersecurity, and data security enhancements in response to the Bank's larger size and increased IT complexity. For the six months ended June 30, 2025, noninterest expense totaled $78.4 million, an increase of $21.7 million, or 38.2%, compared to noninterest expense of $56.7 million for the six months ended June 30, 2024. Merger and acquisition expenses increased $11.3 million for the six months ended June 30, 2025, which includes $11.2 million of merger related expenses related to the William Penn acquisition and $164 thousand related to the Charis Insurance Group acquisition. Salaries and benefits increased $6.1 million for the six months ended June 30, 2025, compared to the same period in 2024, largely driven by the same Q2 items noted above, including $2.0 million in equity compensation, staff additions from the William Penn acquisition, and retention of key personnel through integration. Software licensing and utilization costs increased $1.5 million for the six months ended June 30, 2025, compared to the same period in 2024, reflecting the same Q2 drivers noted above. These include the onboarding of newly acquired William Penn branches, investments in IT infrastructure and cybersecurity. Occupancy expenses increased $796 thousand for the six months ended June 30, 2025, compared to the same period in 2024. The increase was driven by the facility operating costs of the additional retail locations added through the William Penn acquisition. The core efficiency ratio (1) was 62.6% in the second quarter of 2025, compared to 62.8% in the first quarter of 2025 and 63.7% in the second quarter of 2024. The change in the core efficiency ratio during the second quarter of 2025 compared to the first quarter of 2025 was the result of higher net interest income and higher noninterest income, partially offset by higher noninterest expense. Mid Penn continues to evaluate levels of noninterest expense for opportunities to reduce operating costs throughout the organization. William Penn Acquisition On April 30, 2025, Mid Penn completed its acquisition of William Penn through the merger of William Penn with and into Mid Penn. Each share of William Penn common stock issued and outstanding as of April 30, 2025, was converted into 0.426 shares of Mid Penn common stock. As a result of the acquisition, Mid Penn issued approximately 3,506,795 shares of Mid Penn common stock, plus up to an additional 538,447 shares of Mid Penn common stock issuable upon the exercise of former William Penn stock options, for a purchase price of $103.2 million. Mid Penn also recorded Goodwill of $6.2 million, and a core deposit intangible asset of $245 thousand as a result of this acquisition. Charis Insurance Group Acquisition On May 12, 2025, Mid Penn acquired the insurance business and related accounts of Charis Insurance Group, which provides business, home and auto insurance throughout central and southern Pennsylvania, for a purchase price of $4.0 million at closing. Mid Penn recorded Goodwill of $1.6 million, as a result of this acquisition. The assets and liabilities assumed in these transactions were recorded at their estimated fair values as of the respective date of acquisition and may be adjusted for up to one year subsequent to legal closing. (1) Non-GAAP financial measure. Refer to the calculation in the section titled 'Reconciliation of Non-GAAP Measures (Unaudited)' at the end of this document. Non-GAAP financial measure. Expand Subsequent Events Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company's consolidated financial statements when filed with the Securities and Exchange Commission ("SEC"). Accordingly, the financial information in this announcement is subject to change. The statements are valid only as of the date hereof and Mid Penn disclaims any obligation to update this information. This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's current views and expectations about new and existing programs and products, relationships, opportunities, technology, and market conditions. These statements may be identified by such forward-looking terminology as "continues," "expect," "look," "believe," "anticipate," "may," "will," "should," "projects," "strategy" or similar statements. Actual results may differ materially from such forward-looking statements, and no reliance should be placed on any forward-looking statement. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; common shares outstanding; common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on securities held in Mid Penn's portfolio; legislation affecting the financial services industry as a whole, and Mid Penn and Mid Penn Bank individually or collectively, including tax legislation; results of the regulatory examination and supervision process and oversight, including changes in monetary policy and capital requirements; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; increasing price and product/service competition by competitors, including new entrants; rapid technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products/services; containing costs and expenses; governmental and public policy changes; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; the outcome of future litigation and governmental proceedings, including tax-related examinations and other matters; continued availability of financing; the availability of financial resources in the amounts, at the times and on the terms required to support Mid Penn and Mid Penn Bank's future businesses; material differences in the actual financial results of merger, acquisition and investment activities compared with Mid Penn's initial expectations, including the full realization of anticipated cost savings and revenue enhancements; the possibility that the anticipated benefits of a transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in legacy Mid Penn and target markets; diversion of management's attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of a transaction; the ability to complete the integration of Mid Penn and its target successfully; the dilution caused by Mid Penn's issuance of additional shares of its capital stock in connection with a transaction; and other factors that may affect the future results of Mid Penn. For a more detailed description of these and other factors which would affect our results, please see Mid Penn's filings with the SEC, including those risk factors identified in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings with the SEC. 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, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of unanticipated events, except as required by law. (Dollars in thousands, except per share data) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Ending Balances: Investment securities $ 769,211 $ 634,044 $ 643,352 $ 642,291 $ 601,683 Loans, net of unearned income 4,832,898 4,491,167 4,443,070 4,431,704 4,364,561 Total assets 6,354,543 5,546,026 5,470,936 5,527,025 5,391,749 Total deposits 5,449,664 4,732,202 4,689,927 4,706,764 4,497,011 Shareholders' equity 775,708 667,933 655,018 573,059 559,686 Average Balances: Investment securities 652,105 639,580 633,409 610,586 608,173 Loans, net of unearned income 4,724,638 4,459,679 4,441,436 4,405,969 4,353,360 Total assets 6,036,045 5,491,763 5,481,473 5,470,641 5,378,897 Total deposits 5,159,754 4,681,708 4,687,880 4,597,686 4,451,678 Shareholders' equity 670,491 660,964 623,670 565,300 553,675 Three Months Ended Income Statement: Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Net interest income $ 48,206 $ 42,509 $ 41,280 $ 40,169 $ 38,766 Provision for credit losses (4) 2,269 301 333 516 1,604 Noninterest income 6,143 5,239 6,149 5,178 5,329 Noninterest expense 47,798 30,642 30,913 29,959 28,224 Income before provision for income taxes 4,282 16,805 16,183 14,872 14,267 (Benefit)/Provision for income taxes (480 ) 3,063 2,951 2,571 2,496 Net income available to shareholders 4,762 13,742 13,232 12,301 11,771 Net income excluding non-recurring income and expenses (1) 15,074 13,907 12,961 12,383 11,284 Per Share: Basic earnings per common share $ 0.22 $ 0.71 $ 0.72 $ 0.74 $ 0.71 Diluted earnings per common share 0.22 0.71 0.72 0.74 0.71 Cash dividends declared 0.20 0.20 0.20 0.20 0.20 Book value per common share 33.85 34.50 33.84 34.48 33.76 Tangible book value per common share (1) 27.22 27.58 26.90 26.36 25.75 Asset Quality: Net charge-offs/(recoveries) to average loans (3) 0.069 % (0.0003 %) 0.037 % 0.031 % 0.002 % Non-performing loans to total loans 0.38 0.54 0.51 0.39 0.23 Non-performing asset to total loans and other real estate 0.58 0.57 0.51 0.40 0.24 Non-performing asset to total assets 0.44 0.46 0.41 0.32 0.19 ACL on loans to total loans 0.78 0.80 0.80 0.80 0.81 ACL on loans to nonperforming loans 206.49 149.05 157.07 204.61 352.92 Profitability: Return on average assets (3) 0.32 % 1.01 % 0.96 % 0.89 % 0.88 % Return on average equity (3) 2.85 8.43 8.44 8.66 8.55 Return on average tangible common equity (1) (3) 4.05 10.84 11.07 11.69 11.57 Tax-equivalent net interest margin 3.44 3.37 3.21 3.13 3.12 Core Efficiency ratio (1) 62.56 62.79 63.94 64.89 63.65 Capital Ratios: Tier 1 Capital (to Average Assets) (2) 10.6 % 10.2 % 10.0 % 8.4 % 8.4 % Common Tier 1 Capital (to Risk Weighted Assets) (2) 12.0 12.0 12.1 10.1 9.9 Tier 1 Capital (to Risk Weighted Assets) (2) 12.0 12.0 12.1 10.1 9.9 Total Capital (to Risk Weighted Assets) (2) 13.3 13.8 14.0 11.9 11.8 Expand (1) Non-GAAP financial measure. Refer to the calculation in the section titled 'Reconciliation of Non-GAAP Measures (Unaudited)' at the end of this document. (2) Regulatory capital ratios as of June 30, 2025 are preliminary and prior periods are actual. (3) Annualized ratio (4) Includes $2.3 million related to non-PCD loans acquired in the William Penn transaction Expand CONSOLIDATED BALANCE SHEETS (Unaudited): (In thousands, except share data) Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 ASSETS Cash and due from banks $ 52,671 $ 47,688 $ 37,002 $ 57,518 $ 36,948 Interest-bearing balances with other financial institutions 22,828 16,880 14,490 19,323 25,585 Federal funds sold 261,353 42,686 19,072 67,554 43,193 Total cash and cash equivalents 336,852 107,254 70,564 144,395 105,726 Investment Securities: Held to maturity, at amortized cost 364,029 375,115 382,447 386,618 393,320 Available for sale, at fair value 404,745 258,493 260,477 255,227 207,936 Equity securities available for sale, at fair value 437 436 428 446 427 Loans held for sale 6,101 6,851 7,064 7,919 8,420 Loans, net of unearned income 4,832,898 4,491,167 4,443,070 4,431,704 4,364,561 Less: Allowance for credit losses (1) (37,615 ) (35,838 ) (35,514 ) (35,562 ) (35,288 ) Net loans 4,795,283 4,455,329 4,407,556 4,396,142 4,329,273 Premises and equipment, net 47,732 40,328 38,806 33,765 34,344 Operating lease right of use asset 15,026 9,402 7,699 7,390 7,925 Finance lease right of use asset 2,458 2,503 2,548 2,593 2,638 Cash surrender value of life insurance 94,770 51,351 51,521 53,135 53,298 Restricted investment in bank stocks 7,110 6,660 7,461 10,589 13,930 Accrued interest receivable 28,546 27,263 26,846 27,286 27,381 Deferred income taxes 35,333 21,800 22,747 23,197 24,520 Goodwill 135,473 128,160 128,160 128,160 127,031 Core deposit and other intangibles, net 16,531 5,814 6,242 6,713 5,626 Foreclosed assets held for sale 9,816 1,402 44 281 441 Other assets 54,301 47,865 50,326 43,169 49,513 LIABILITIES & SHAREHOLDERS' EQUITY Deposits: Noninterest-bearing demand $ 857,072 $ 788,316 $ 759,169 $ 791,980 $ 766,014 Interest-bearing transaction accounts 2,772,739 2,375,205 2,319,753 2,288,783 2,194,948 Time 1,819,853 1,568,681 1,611,005 1,626,001 1,536,049 Total Deposits 5,449,664 4,732,202 4,689,927 4,706,764 4,497,011 Short-term borrowings — 25,000 2,000 114,097 200,000 Long-term debt 23,374 23,489 23,603 23,716 23,827 Subordinated debt and trust preferred securities 37,303 45,587 45,741 45,894 46,047 Operating lease liability 15,342 9,765 8,092 7,778 8,344 Accrued interest payable 13,421 12,900 13,484 18,995 18,139 Other liabilities 39,731 29,150 33,071 36,722 38,695 Total Liabilities 5,578,835 4,878,093 4,815,918 4,953,966 4,832,063 Shareholders' Equity: Common stock, par value $1.00 per share; 40.0 million shares authorized 23,419 19,803 19,797 17,061 17,051 Additional paid-in capital 584,291 480,866 480,491 406,922 406,544 Retained earnings 191,574 191,469 181,597 172,234 163,256 Accumulated other comprehensive loss (11,756 ) (14,163 ) (16,825 ) (13,116 ) (17,123 ) Treasury stock (11,820 ) (10,042 ) (10,042 ) (10,042 ) (10,042 ) Total Shareholders' Equity 775,708 667,933 655,018 573,059 559,686 Total Liabilities and Shareholders' Equity $ 6,354,543 $ 5,546,026 $ 5,470,936 $ 5,527,025 $ 5,391,749 Expand (1) Includes $2.3 million related to non-PCD loans acquired in the William Penn transaction Expand CONSOLIDATED STATEMENTS OF INCOME (Unaudited): Three Months Ended (Dollars in thousands, except per share data) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 INTEREST INCOME Loans, including fees $ 72,469 $ 66,537 $ 68,110 $ 68,080 $ 66,096 Investment securities: Taxable 4,637 4,460 4,223 4,136 4,143 Tax-exempt 344 348 358 359 371 Other interest-bearing balances 142 138 154 223 347 Federal funds sold 2,428 261 467 1,043 282 Total Interest Income 80,020 71,744 73,312 73,841 71,239 INTEREST EXPENSE Deposits 30,981 28,264 30,836 30,689 28,463 Short-term borrowings 86 290 509 2,296 3,324 Long-term and subordinated debt 747 681 687 687 686 Total Interest Expense 31,814 29,235 32,032 33,672 32,473 Net Interest Income 48,206 42,509 41,280 40,169 38,766 Net provision for credit losses (1) 2,269 301 333 516 1,604 Net Interest Income After Provision for Credit Losses 45,937 42,208 40,947 39,653 37,162 NONINTEREST INCOME Fiduciary and wealth management 1,406 1,140 1,215 1,204 1,129 ATM debit card interchange 958 919 971 962 973 Service charges on deposits 652 562 579 549 539 Mortgage banking 676 591 656 768 628 Mortgage hedging (7 ) (9 ) 11 (1 ) — Net gain on sales of SBA loans 63 57 15 151 74 Earnings from cash surrender value of life insurance 491 274 280 276 301 Other 1,904 1,705 2,422 1,269 1,685 Total Noninterest Income 6,143 5,239 6,149 5,178 5,329 NONINTEREST EXPENSE Salaries and employee benefits 20,753 16,309 16,947 16,156 15,533 Software licensing and utilization 3,272 2,574 2,606 2,366 2,208 Occupancy, net 2,365 2,274 1,913 1,815 1,861 Equipment 1,248 1,094 1,213 1,206 1,287 Shares tax 606 919 405 824 124 Legal and professional fees 993 826 1,006 1,613 689 ATM/card processing 621 733 634 606 510 Intangible amortization 744 428 471 460 425 FDIC Assessment 994 990 843 1,150 1,232 (Gain)/Loss on sale or write-down of foreclosed assets, net — (28 ) 73 (35 ) 42 Merger and acquisition 11,011 314 436 109 — Other 5,191 4,209 4,366 3,689 4,313 Total Noninterest Expense 47,798 30,642 30,913 29,959 28,224 INCOME BEFORE PROVISION FOR INCOME TAXES 4,282 16,805 16,183 14,872 14,267 (Benefit)/Provision for income taxes (480 ) 3,063 2,951 2,571 2,496 PER COMMON SHARE DATA: Diluted Earnings Per Common Share 0.22 0.71 0.72 0.74 0.71 Cash Dividends Declared 0.20 0.20 0.20 0.20 0.20 Expand (1) Includes $2.3 million related to non-PCD loans acquired in the William Penn transaction Expand (1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowance. (2) Annualized ratios Expand ALLOWANCE FOR CREDIT LOSSES AND ASSET QUALITY (Unaudited): (1) Includes $2.3 million related to non-PCD loans acquired in the William Penn transaction Expand RECONCILIATION OF NON-GAAP MEASURES (Unaudited) Explanatory note: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Mid Penn's management uses these non-GAAP financial measures in their analysis of Mid Penn's performance. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value. We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing tangible book value. Income tax effects of non-GAAP adjustments are calculated using the applicable statutory tax rate for the jurisdictions in which the charges (benefits) are incurred, while taking into consideration any valuation allowances or non-deductible portions of the non-GAAP adjustments. Adjusted earnings per common share excludes from income available to common shareholders certain expenses related to significant non-core activities, including merger-related expenses, net of income taxes. For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity. The core efficiency ratio is often used by management to measure its noninterest expense as a percentage of its revenue. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Mid Penn's results and financial condition as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes that this non-GAAP supplemental information will be helpful in understanding Mid Penn's ongoing operating results. This supplemental presentation should not be construed as an inference that Mid Penn's future results will be unaffected by similar adjustments to be determined in accordance with GAAP. The reconciliation of the non-GAAP to comparable GAAP financial measures can be found in the tables below. Adjusted Earnings Per Common Share Excluding Non-Recurring Income and Expenses Return on Average Tangible Common Equity (1) Annualized ratio Expand Core Efficiency Ratio Three Months Ended (Dollars in thousands) Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Noninterest expense $ 47,798 $ 30,642 $ 30,913 $ 29,959 $ 28,224 Less: Merger and acquisition expenses 11,011 314 436 109 — Less: Compensation expense for accelerated vesting of stock options and restricted stock awards 2,043 — — — — Less: Intangible amortization 744 428 471 460 425 Less: (Gain) Loss on sale or write-down of foreclosed assets, net — (28 ) 73 (35 ) 42 Efficiency ratio numerator 34,000 29,928 29,933 29,425 27,757 Net interest income 48,206 42,509 41,280 40,169 38,766 Noninterest income 6,143 5,239 6,149 5,178 5,329 Less: BOLI Death Benefit 1 83 615 4 487 Efficiency ratio denominator $ 54,348 $ 47,665 $ 46,814 $ 45,343 $ 43,608 Core efficiency ratio 62.56 % 62.79 % 63.94 % 64.89 % 63.65 % Expand
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Travel + Leisure
22-07-2025
- Travel + Leisure
These Are the Best Spots in London for History Buffs, Foodies, and Everyone in Between, According to a Top Travel Advisor
I was once asked how many times I have been to London. The answer is that I lost count years ago. But even after 60 years, there's always something new to experience. As a less-seasoned visitor, it can feel overwhelming to make an itinerary for a city so vibrant and expansive, but it doesn't have to be. After decades of planning trips to London for a living, I've gathered my favorite must-visit spots for every type of traveler, so deciding where to go can be a breeze. Plus, some tips and tricks for seeing the sights without the crowds. A sunny day at Westminster Abbey. London is about 2,000 years old, so it's a history lover's heaven. One must-visit spot is the crypt of All Hallows Church, which was founded by the Abbey of Barking in the year 675 AD. It has surprising American connections: William Penn was baptized there, and John Quincy Adams married his British wife, Louisa, there. To experience the historic Westminster Abbey without the crowds—or a ticket—attend a short 8:00 a.m. service in one of the chapels. Tuesday service is particularly special because it's held in St. Edward's Chapel, which is usually off-limits to the public. London's West End theatres at night. London is home to hundreds of museums, but a few stand out from the rest. Sir John Soane's Museum on Lincoln's Inn Field in the Holborn neighborhood is a museum that actually consists of three early-19th-century townhouses. In it, you'll find architectural models that the artist used for his own projects; his personal collection of sculptures, drawings, and paintings, including 18th-century English artist William Hogarth's famous series A Rake's Progress ; and even the famed sculpture, the Sarcophagus of Seti I. The National Gallery is always a must-visit spot, but if it's too crowded, try The Courtauld Gallery at Somerset House on the Strand instead—here, the impressionist collection alone is breathtaking. For those who enjoy performance art, West End theatre is iconic, but ticket prices can be quite high. Instead, check out Off West End performances to catch smaller-scale, less traditional productions. Shakespeare's Globe, located on the south bank of the River Thames in Southwark, is another great venue. Standing tickets in the Yard at the foot of the stage are a more affordable option—but just be aware that a ticket in this area means standing in an uncovered area for the entire two- to three-hour performance. Fortnum & Mason's detailed store is a dream in London. My two favorite shops are right next door to each other in the Piccadilly Circus area of the city: Hatchard's and Fortnum & Mason. Hatchard's, one of the oldest book shops in England, is a bookworm's paradise, with five stories full of every genre imaginable. And although Fortnum & Mason is known for its gourmet tea, don't miss the upper floors, which are full of household and decorative treasures. Plus, the on-site restaurant, the Parlour, is perfect for a quick break from shopping. Aside from the restaurant's innovative ice cream sundaes and floats, visitors can snack on classic British treats like Welsh rarebit (melted cheese on toast) and toasted crumpets. When leaving the store, be sure to head across the street right before the hour to watch the clock chime—Mr. Fortnum pops out to bow to Mr. Mason. Experience London sights while enjoying afternoon tea on Brigit's Afternoon Tea Bus Tour. claudiodivizia/Getty Images Although English cuisine is often overlooked, London is a surprisingly robust foodie destination. For modern British fare with a Spanish twist, book a table at Kitty Fisher's in Shepherd Market, which was once a Georgian bakery (the old ovens are still in the basement). And you can't go to London without having afternoon tea, so kill two birds with one stone by booking a table on the top deck of Brigit's Afternoon Tea Bus London Sightseeing Tour, a vintage double decker that takes visitors to see all the sights while indulging on cakes and scones. Despite being one of the most popular tourist destinations in the world, there are still plenty of lesser-known treasures in London. For instance, visitors can see the changing of the guard at the much-less-crowded Horse Guards Parade instead of the Buckingham Palace, and go to the Royal Horticultural Society's Hampton Court Garden Festival in July instead of the renowned Chelsea Flower Show in May. If you're visiting in May but can't get tickets to the Chelsea, spend the morning off Sloane Square on Pavilion Road, where local shops create spectacular floral displays of their own. Other, quirkier experiences include Postman's Park, a public park that houses a memorial dedicated to "ordinary" individuals who died saving the lives of others, and The Postal Museum, where visitors can ride through the hidden tunnels of Mail Rail, a narrow, driverless underground railway originally designed to transport mail throughout the city. If you're up for an active challenge, try climbing up the 334-step spiral stairwell of the Elizabeth Tower to see Big Ben up close. Ellen LeCompte is a member of Travel + Leisure's A-List and specializes in U.K. trips. You can create a tailor-made itinerary with LeCompte by contacting her at [email protected] .
Scottish Sun
05-07-2025
- Entertainment
- Scottish Sun
I visited Philadelphia – the home of Rocky & the birthplace of the USA, full of fascinating history & incredible food
PHILADELPHIA is a city that punches way above its weight - and I'm not just talking about the iconic Rocky statue that looks out over the classy metropolis. The 'City of Brotherly Love' is the birthplace of the United States and is packed full of rich history, art, culture and fantastic cuisine from around the world. Advertisement 9 Philadelphia skyline Credit: Getty 9 Our man at the Rocky statue 9 Philadelphia - a classy city on Amerca's east coast 9 The Philly skyline with the William Penn statue atop City Hall You can stroll from one side of town to the other in around an hour - before running the final 48 steps up the famous Philadelphia Museum of Art stairs immortalised by Sylverter Stallone in the 1976 movie. Known as Philly to the locals, you can now fly direct from Scotland for the first time in six years with American Airlines. I wasted no time in taking up the opportunity to immerse myself in the city that is extremely proud of the warm welcome it gives visitors, along with a cultural experience to rival anywhere in the world. Philly is sometimes known as the 'City of Firsts'. It was the first capital of the United States and the Declaration of Independence and the Constitution were both signed at Independence Hall. Advertisement It's also home to America's first skyscraper, the PSFS tower built in 1932 - now transformed from a bank into the luxury Loews Hotel, my base for the week. 9 The luxury Loews Hotel is now in the historic PSFS building 9 Many of the rooms at Loews have panoramic views over the city It's an art deco masterpiece and retains all the charm of the 1930s while incorporating modern touches to satisfy the most exacting of clients. Advertisement From your well appointed room, with all mod cons and lots of comfy pillows, you can plot your day's adventures with a panoramic view across the city. My first port of call was the hotel's classy eaterie Bank & Bourbon. The signature cocktails were a knockout and the menu, a mix of American and fusion flavours, was equally fab. The spa was also particular favourite of mine with a sauna and steam room to relax and invigorate weary travellers. Advertisement Philadelphia Eagles get their revenge with hammering that proves Patrick Mahomes still has a long way to go to catch GOAT Tom Brady Just across the road from the hotel was the absolute must-visit for foodies - the Reading Terminal Market. Around 80 different vendors from all over the world ply their trade in the former railway warehouse and it is quite simply magic. I arranged a guided tour with City Food Tours to make sure I didn't miss anything. 9 Foodies heaven Reading Terminal Market Credit: Daniel Knoll Advertisement There's American cuisine like cajun and gumbo, pancakes, burgers and the famous Philly cheesesteaks. But they also have Central American, Chinese, Greek, Italian, Moroccan, Japanese…and an Irish pub called Molly Molloy's. There's always an Irish pub! My guide said that food brings people together and that's what Philadelphia was all about, it's not called the City of Brotherly Love for nothing. Speaking of Irish pubs, the city's oldest bar, McGillan's, was just around the corner from the market. Advertisement 9 McGillan's Old Ale House Opened in 1860, the legendary watering hole even survived prohibition and was absolutely bouncing when I arrived - probably because the local baseball team, the Phillies, were playing. The cool funky vibe was maintained in every restaurant I visited. Jim's on South Street was a rite of passage for a cheesesteak while the Harp and Crown was a classy dinner joint for a Friday night. Advertisement Chris' Jazz Cafe was like going back in time. I had the jambalaya while the live band entertained us with exceptional tunes, both new and old. Talking of going back in time, no visit to Philly is complete without checking out Independence Hall, the birthplace of the nation. The building has been lovingly maintained from the days in 1776 when America came into being and broke away from the British Empire. Across the road, the Liberty Bell is one of the most recognisable symbols of freedom across the globe. Advertisement 9 Gordon, the Liberty Bell and Independence Hall in the background It became a powerful sight during the abolition of slavery and, despite cracking over the centuries, has stayed a massive part of the American identity. Nearby, the Museum of the American Revolution is another must-visit part of Philly. The immersive experience brings the fight for independence to life and is a fascinating walk through the tumultuous time. Advertisement It was heartening to see so many schooltrips there to help the kids understand where they had come from and the struggles their forefathers had to create their own nation. History buffs will also love the tour of City Hall and the William Penn statue which towers above downtown. Penn was granted the land now called Pennsylvania and the monument in his honour was created by Scot Alexander Calder. There is also the story that the city's sports teams began losing when skyscrapers taller than Penn's statue were built. Advertisement So the story goes that a builder put a miniature Penn statue atop the new Comcast Tower in 2017 - another fine place to take in the view and enjoy a drink at the Skyhigh bar. The following year, the Philadelphia Eagles won their first Superbowl - and they won it again this year. GO: PHILADELPHIA GO: PHILLY GETTING THERE: American Airlines flies daily direct from Edinburgh to Philadelphia until October 5. See for best fares. STAYING THERE: For best room rates at the 5H Loews Philadelphia Hotel. See MORE INFO: See for all you need to know to visit the city. For art aficionados, the city has a dazzling array of galleries that would grace any city in the world. The Philadelphia Museum of Art is absolutely enormous and packed with valuable pieces, some of them hundreds of years old. Advertisement You could spend days exploring the three floors and not get bored. Just a few minutes walk away, the Barnes Foundation is another treasure. There are Picassos, Renoirs and fantastic art that can't be seen anywhere else in the world. On the other side of the Benjamin Franklin Parkway is a museum dedicated to the man himself. Advertisement He was one of the Founding Fathers of the United States and was a scientist among many other things, including being a signatory to the Declaration of Independence. The building that bears his name, the Franklin Institute, is an awe-inspiring celebration of cutting edge science and technology, delivered in an easy-to-understand way. As if that wasn't enough art, the South Philly Art Tour by WeVenture is another must. The two hour wander around the funky neighbourhood is illustrated by street art by Isaiah Zagar. Advertisement His mosaics that cover entire building walls and lanes tell stories about the people who stay in the area - some alive and some as a tribute in death - along with his views on historic events. It's a lifetime's work that surrounds you and it's incredible stuff to see. On my walk home, I decided to have a seat at Dilworth Park, just outside the City Hall. An impromptu live gig was taking place with Motown classics being played while a local councillor was dancing with a delighted citizen. Advertisement Everyone was smiling and chatting in the sun, no matter their race or background. That will be my abiding memory of Philadelphia - a city for all and an experience for all to enjoy.
Time Business News
27-06-2025
- Health
- Time Business News
Effective Actions for Mosquito Control in Philadelphia
It is the sixth most populated city in the country. The second-largest city in the mid-Atlantic is Philadelphia. Philadelphia is the second-biggest city after New York. It is frequently referred to as Philly. William Penn founded it in sixteen hundred and two. A pivotal role in the American uprising was played by Philadelphia. It is essential to its economy. Medical Travel Processing of food Mosquito Control in Philadelphia Refining Oil Moving around Trading in information technology Centres for health research and education are essential to the economy. A major health concern for the local population is control of mosquitoes. And Philadelphia ranks seventh on the list of cities. In the field of, compare to other cities philadelphia has more opportunities compared to other cities. Just like the spread of other insects, the increase in the population of the mosquito family is an irritating process. People do not know the extreme danger. They want to get rid of the irritating bite of the mosquito. However, there are two main reasons why Mosquito Control in Philadelphia is an inevitable task. These are: To Avoid the Bite To Eliminate Diseases People are just concerned about reducing the chance of a bite. They do not take measures to eliminate the diseases that mosquitoes can spread. Dengue and fever are the risks that mosquitoes pose to humans. Many people die due to these diseases. In the initial stage of the rise of these disorders, no one knows the solution. However, with advancements in every field, the medical field has also developed and looked for preventive measures for mosquitoes. Mosquitoes can be carriers of most diseases, and getting a cure for those viruses is very necessary. The health professionals in Philadelphia said that the number of cases of West Nile mosquito spread in the year twenty-one ranged from zero to twenty-four. A peak season of the spread of this virus occurs in the years twenty-three, eight, ten, and eighteen. In 2020, approximately ten documented cases were reported, but the spread of these insects was reported throughout the country. According to the Health Administration of Pennsylvania, Philadelphia and Montgomery were the most infected cities with the West Nile virus. The proliferation of this virus is through the bite of a mosquito that carries the mosquito venom. It leads to serious health issues, even death. Staying away from mosquitoes was the only solution to avoid their bite. Most people who were bitten by the insect wouldn't have symptoms. Health officials said that one in five will develop flu and fever symptoms. The nervous system of West Nile virus impacts a person's health. Neurological symptoms include headache and Alzheimer's disease, in which temporary memory loss occurs. There is a proper procedure for reducing and Mosquito Control in Philadelphia city. There are three stages of control. Inspection of the mosquitoes' presence Mosquito Treatment Mosquito Reduction Techniques It is the basic step of identifying the ground breeding of the mosquito population. By inspecting this, the extent of infestation of this insect will be assessed. Professional Mosquito Control in Philadelphia measures start with the complete inspection of the spread of the mosquito population. To perform a deep inspection, trained persons are hired. They thoroughly examine the possible sites where mosquitoes live. They usually live in water resources, green plants, and crops. The technician does a complete search of areas prone to mosquito growth. These inspections not only target the present number of mosquitoes but also focus on the future generation of mosquitoes. This can be done by eliminating a favorable environment for the insects. They can not survive in an environment that is not according to their choice. By conducting a focused inspection, experts can easily develop a strategy to control the mosquito population. So, inspection plays a key role. To ensure a pest-free environment in Philadelphia, efficient treatment measures are necessary for the Mosquito Control in Philadelphia population. The treatment includes the use of pesticides. The first is used to kill the larvae that produce and grow in the water sources, and the second is used to reduce the spread of older mosquitoes. Because he understands mosquito behaviour, the person conducting the inspection stage will carry out the treatment stage more skilfully. By knowing the proper treatment, he can treat the mosquito community more effectively. These are strategies for limiting the number of mosquitoes. Natural Chemical Removal of source Chemical: In this, insecticides kill all types of mosquitoes. Some substances are malathion, permethrin, and sumithrin. Biological: These are mostly effective for larvae. In biological control, natural predators like fish and bacteria kill them. Reduction of Origin: Standing water, like gutters, is a perfect breeding ground for mosquitoes. Eliminating this source can reduce mosquito breeding. This shows that the spread of mosquitoes in Philadelphia has become a great concern among the government and the general population. The reason behind this is the history of continuous mosquito infestation for many years. Several controlling measures for Mosquito Control in Philadelphia, ranging from household to expert solutions, are available to control the escalation of mosquitoes. TIME BUSINESS NEWS
Yahoo
16-05-2025
- Politics
- Yahoo
America250PA brings its Keystone Classroom Initiative to Kistler Elementary
May 15—WILKES-BARRE — William Penn, who was born in 1644 and died in 1718 — which would make him 380 years old — came to life on Thursday at Kistler Elementary School as part of America250PA's Keystone Classroom Initiative. And Mr. Penn delivered a historical summary of his significant life to the delight of the students. Mr. Penn, who founded the Province of Pennsylvania — the British North American colony that became the U.S. state of Pennsylvania — was played by Robert Gleason, appropriately of Philadelphia. The students learned much about Mr. Penn and the democratic principles that he set forth, having served as an inspiration for the U.S. Constitution. America250PA continued its Keystone Classroom Initiative (KCI) — a program that connects young Pennsylvanians with the history and values that unite us as we prepare to celebrate America's 250th anniversary in 2026. "America250PA is so excited to continue the Keystone Classroom Initiative in Luzerne County and engage our next generation of Pennsylvanians at an age-appropriate level," said Cassandra Coleman, America250PA executive director and former mayor of Exeter Borough. "This program will allow us to visit with more than 50,000 Pennsylvania students all across this Commonwealth by July 4, 2026, when this historic anniversary rolls around." Several volunteers and guest readers joined America250PA for the special Keystone Classroom Initiative (KCI) visit in Luzerne County — including State Rep. Eddie Day Pashinski, Wilkes-Barre Mayor George C. Brown, representatives from the Office of U.S. Rep. Rob Bresnahan, Jr., the Pennsylvania State Police, the Wilkes-Barre City Police Department, Vicki Austin of WVIA, Chris Bohinski of WYOU/WBRE, Miss Wilkes-Barre/Scranton Victoria Vespico, and Miss Lebanon County Kristen Griffiths. America250PA's mascot — the Keystone Kid — was joined by Tux, mascot of the Wilkes-Barre/Scranton Penguins, and Leo the Lion, King's College's mascot, to distribute swag bags filled with Pennsylvania-themed goodies, including an America250PA T-shirt, a pencil, and a custom-designed Pennsylvania coloring book. Coleman said students also received treats from Pennsylvania-based sponsors such as the Hershey Company, Crayola, Utz Quality Foods Inc., and Natural Food Group, along with contributions from the Pennsylvania Department of Conservation and Natural Resources, the Pennsylvania State Police, and the Pennsylvania Department of the Auditor General. In addition to classroom readings, third- and fourth-grade students attended a special assembly featuring Historic Philadelphia Inc. and a live portrayal of William Penn. "We are very excited for our students to gain a deeper understanding of Pennsylvania's history," said Corey Brenner, Principal of Kistler Elementary School. "Many of our students don't yet realize the impact our state has had in so many aspects of the growth of the United States. This visit will help bring that history to life and inspire pride in our shared heritage." In total, the program reached over 800 students in Luzerne County on Thursday. Overall, Coleman said the program will reach more than 50,000 PA students by July 4, 2026. Coleman said the Keystone Classroom Initiative is a storytelling and outreach program for pre-K through fourth-grade classrooms, children's hospitals and youth camps across the Commonwealth. With the help of age-appropriate historical reenactors, storytellers, local figures and mascots, America250PA is ensuring students across the Commonwealth learn about their shared Pennsylvania story while building excitement for the nation's 250th anniversary in 2026. Coleman said the program is made possible thanks to the generous support of presenting sponsors — the Hershey Company, Kalahari Resorts & Conventions, The Hawk Family Foundation, UPMC & UPMC Health Plan, The Pennsylvania School Boards Association, the University of Pittsburgh, Access, Allied Services, Independent Graphics Inc., and Benco Family Foundation. To learn more about the Keystone Classroom Initiative and America250PA, visit About America250PA The Pennsylvania Commission for the United States Semiquincentennial (America250PA) was established by the General Assembly and Governor in 2018 to plan, encourage, develop and coordinate the commemoration of the 250th Anniversary of the founding of the United States, Pennsylvania's integral role in that event, and the impact of its people on the nation's past, present and future. Reach Bill O'Boyle at 570-991-6118 or on Twitter @TLBillOBoyle.
