Balance Sheet September 30, 2024 Transaction accounting adjustment for common stock ReversalofWilliamPenn’scommonstock .............................................. $ (92) NumberofsharesofMidPenncommonstockissued .................................... 3,598,828 ParvalueofMidPenncommonstock................................................. $ 1.00 ParvalueofMidPennsharesissuedformerger ....................................... 3,599 Total transaction accounting adjustment for common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,507 Balance Sheet September 30, 2024 Transaction accounting adjustment for unearned common stock held by employee stock ownership plan Reversal of William Penn unearned common stock held by employee stock ownership plan . . . . . . . . . . . . . . . . . . . $ 8,688 Total transaction accounting adjustment for unearned common stock held by employee stock ownership plan ......................................................................................... $ 8,688 Balance Sheet (dollars in thousands, except per share data) September 30, 2024 Transaction accounting adjustment for APIC ReversalofWilliamPenncommonstocktoAPIC ......................................... $ 92 ReversalofWilliamPennretainedearningstoAPIC ....................................... 57,310 Reversal of William Penn accumulated other comprehensive loss to APIC . . . . . . . . . . . . . . . . . . . . . . (17,191) Reversal of William Penn unearned common stock held by employee stock ownership plan . . . . . . . . (8,688) Issued and outstanding shares of William Penn common stock ............................ 9,218,459 ESOPloanbalance ................................................................. 9,321,875 Transactionpricepershare ........................................................... $ 12.10 Estimated shares of William Penn Common Stock to pay off ESOP Loan . . . . . . . . . . . . . . . . . . . . . . 770,505 William Penn common shares as of 9/30/2024 settled for stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,447,954 Exchange ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.426 MidPennsharestobeissued.......................................................... 3,598,828 Price per share of common stock (closing stock price as of January 3, 2025, which was the latest practical trading date before the date of this document) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 28.40 Purchase price consideration for common stock ...................................... 102,207 Purchase Price Consideration—Rollover of Outstanding Options WilliamPennstockoptionsoutstanding ............................................. 1,264,000 MidPennstockoptionsissued .................................................... 538,464 FairvalueofMidPennstockoption ................................................ $ 9.25 Purchase price assigned to stock options rolled over ............................... $ 4,981 Par value of Mid Penn shares issued for merger at $1.00 per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.00 Less:parvalueofMidPenncommonstock............................................... (3,599) APICadjustmentforMidPennsharesissued ............................................. $ 103,589 Less:WilliamPenncommonequity .................................................... $ (128,253) NetadjustmenttoAPICforstockconsideration ......................................... $(24,664) Total transaction accounting adjustment for APIC ........................................ $ 6,859 Balance Sheet September 30, 2024 Transaction accounting adjustment for retained earnings ReversalofWilliamPennretainedearnings .............................................. $(57,310) MidPennmergercosts,netoftaxes .................................................... (9,318) Provision for credit losses for non-PCD loans, net of taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,937) Total transaction accounting adjustment for retained earnings .............................. $(69,565) 33
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