Unaudited Pro Forma Combined Income Statement for twelve months ended December 31, 2023 ($ In Thousands, Except Per Share Data) Mid Penn Bancorp, Inc. William Penn Bancorporation Transaction Accounting Adjustments Mid Penn Bancorp, Inc. Pro Forma Combined before Management Adjustments Management Adjustments Mid Penn Bancorp, Inc. Pro Forma Combined after Management Adjustments Interest and Dividend Income Loans, including fees . . . . . . . . . . . . . . . . . . . . $ 218,060 $24,312 $ 3,748(4) $ 246,120 $ — $246,120 Investmentsecurities .................... 17,545 6,827 5,967(3) 30,339 — 30,339 Other interest-bearing balances . . . . . . . . . . . . 361 678 — 1,039 3,697(12) 4,736 Federalfundssold ...................... 373 — — 373 — 373 Total Interest and Dividend Income . . . . 236,339 31,817 9,715 277,871 3,697 281,568 Interest Expense Deposits .............................. 79,295 9,923 367(9) 89,585 — 89,585 Borrowings ........................... 10,071 2,145 683(10) 12,899 — 12,899 Total Interest Expense ............... 89,366 12,068 1,050 102,484 — 102,484 Net Interest Income .................. 146,973 19,749 8,665 175,387 3,697 179,084 Provision for credit losses – loans . . . . . . . . . . . . 2,891 30 3,718(5) 6,639 — 6,639 (Benefit)/Provision for credit losses CCL . . . . . . 404 (45) — 359 — 359 Net Interest Income after Provision for Credit Losses .................. 143,678 19,764 4,947 168,389 3,697 172,086 Noninterest Income Fiduciary and wealth management . . . . . . . . . 5,059 — — 5,059 — 5,059 ATM debit card interchange . . . . . . . . . . . . . . 4,019 433 — 4,452 — 4,452 Service charges on deposits . . . . . . . . . . . . . . . 1,943 430 — 2,373 — 2,373 Mortgagebanking ...................... 1,353 — — 1,353 — 1,353 Mortgagehedging ...................... 324 — — 324 — 324 Net gain on sales of SBA loans . . . . . . . . . . . . 571 — — 571 — 571 Earnings from cash surrender value of life insurance ........................... 1,112 1,162 — 2,274 — 2,274 Net gain on sales of investment securities . . . . — 85 — 85 — 85 Otherincome .......................... 5,627 134 — 5,761 — 5,761 Total Noninterest Income ............. 20,008 2,244 — 22,252 — 22,252 Noninterest Expenses Salaries and employee benefits . . . . . . . . . . . . 59,345 12,118 — 71,463 — 71,463 Software licensing and utilization . . . . . . . . . . 7,927 1,931 — 9,858 — 9,858 Occupancy,net ........................ 7,349 2,867 34(6) 10,250 — 10,250 Equipment ............................ 5,121 184 — 5,305 — 5,305 Sharestax ............................ 2,713 — — 2,713 — 2,713 Legal and professional fees . . . . . . . . . . . . . . . 2,945 787 — 3,732 — 3,732 ATM/cardprocessing ................... 2,108 104 — 2,212 — 2,212 Intangible amortization . . . . . . . . . . . . . . . . . . 1,780 178 2,134(8) 4,092 — 4,092 FDICAssessment ...................... 3,500 361 — 3,861 — 3,861 Gain on sale of foreclosed assets, net . . . . . . . (144) — — (144) — (144) Mergerandacquisition .................. 5,544 — 11,502(11) 17,046 — 17,046 Post acquisition restructuring . . . . . . . . . . . . . 2,952 — — 2,952 — 2,952 Otherexpenses ........................ 17,852 2,607 — 20,459 — 20,459 Total Noninterest Expense . . . . . . . . . . . . . . . . . 118,992 21,137 13,670 153,799 — 153,799 Income before Provision for Income Taxes . . . . 44,694 871 (8,723) 36,842 3,697 40,539 Provision/(Benefit) for income taxes . . . . . . . . . 7,297 (33) (1,600)(7) 5,664 776(12) 6,440 Net Income Available for Common Shareholders ..........................$ 37,397 $ 904 $ (7,123) $ 31,178 $ 2,921 $ 34,099 Per Share Data: Basic Earnings per Common share . . . . . . . $ 2.29 $ 0.09 $ — $ 1.55 $ — $ 1.50 Diluted Earnings per Common Share . . . . . $ 2.29 $ 0.09 $ — $ 1.55 $ — $ 1.49 Weighted-Average basic shares outstanding ....................... 16,319,006 9,723,078 (5,990,490)(1) 20,051,594 2,731,250(12) 22,782,844 Weighted-Average diluted shares outstanding ....................... 16,350,963 9,766,144 (6,033,556)(1) 20,083,551 2,731,250(12) 22,814,801 27
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