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PRESS RELEASE Mid Penn Bancorp , Inc. 349 Union Street Millersburg , PA 17061 1-866-642-7736 CONTACTS Exhibit 99.1 Rory G. Ritrievi President & Chief Executive Officer Michael D. Peduzzi , CPA Chief Financial Officer MID PENN BANCORP , INC . REPORTS RECORD FIRST QUARTER 2021 EARNINGS AND DECLARES DIVIDEND April 22 , 2021 - Millersburg , PA - Mid Penn Bancorp , Inc. ( " Mid Penn " ) ( NASDAQ : MPB ) , the parent company of Mid Penn Bank ( the “ Bank ” ) and MPB Financial Services , LLC , today reported net income to common shareholders ( earnings ) for the quarter ended March 31 , 2021 of $ 9,312,000 or $ 1.11 per common share basic and $ 1.10 per share diluted , compared to earnings of $ 3,818,000 or $ 0.45 per common share basic and diluted for the quarter ended March 31 , 2020 . The diluted earnings per share for the quarter ended March 31 , 2021 reflect an increase of 144 percent compared to the earnings per share for the same period in the prior year , and represents a record high level of quarterly earnings for Mid Penn . Mid Penn also reported total assets of $ 3,382,038,000 as of March 31 , 2021 , reflecting an increase of $ 383,090,000 or 13 percent compared to total assets of $ 2,998,948,000 as of December 31 , 2020 . Tangible book value per common share , a non - GAAP measure that is regularly reported in the banking industry and the most directly comparable non - GAAP measure to book value per share , favorably increased to $ 23.42 as of March 31 , 2021 , compared to $ 22.39 as of December 31 , 2020 and $ 20.18 as of March 31 , 2020. The GAAP measure of book value per share also favorably increased to $ 31.37 as of March 31 , 2021 , compared to $ 30.37 at December 31 , 2020 and $ 28.23 as of March 31 , 2020. Please refer to the section included herein under the heading " Reconciliation of Non - GAAP Measures ( Unaudited ) " for a discussion of our use of non - GAAP adjusted financial information , which includes tables reconciling GAAP and non - GAAP adjusted financial measures for these and certain other periods ended from March 31 , 2020 to March 31 , 2021 . Included in total assets as of March 31 , 2021 are $ 590,035,000 of Paycheck Protection Program ( " PPP " ) loans , net of deferred fees , with this total being comprised of ( i ) $ 335,589,000 of PPP 2021 loans , net of deferred fees , originated during the first quarter of 2021 ; and ( ii ) $ 254,446,000 of PPP 2020 loans , net of deferred fees , originated during 2020 which , as of March 31 , 2021 , were still outstanding as the Small Business Administration ( " SBA " ) had not yet completed the loan forgiveness and repayment processing . Comparatively , as of December 31 , 2020 , Mid Penn had $ 388,313,000 of PPP 2020 loans outstanding , net of deferred fees . Mid Penn has been a significant participating lender under the PPP , which was originally created when the Coronavirus Aid , Relief , and Economic Security ( " CARES " ) Act was signed into law on March 27 , 2020 , and extended by the signing of the Consolidated Appropriations Act , 2021 into law on December 27 , 2020 . Total core banking loans ( total loans excluding both the PPP loans outstanding , and residential mortgage loans held for sale ) increased by $ 60,473,000 since year- end 2020 and totaled $ 2,056,201,000 as of March 31 , 2021 , representing an annualized growth rate of over 12 percent . Deposit growth since year - end 2020 through March 31 , 2021 totaled $ 192,247,000 representing an annual deposit growth rate of over 31 percent , including an increase of $ 140,493,000 in noninterest- bearing deposits including proceeds deposited from PPP loan funding . Also , during the first quarter of 2021 , the Bank obtained $ 182,136,000 of additional funding from the Federal Reserve through the Paycheck Protection Program Liquidity Facility ( " PPPLF " ) , with such funding used to support the PPP 2021 loan production . Under the PPPLF , the Federal Reserve supplies financing to the Bank at a rate of 35 basis points ( 0.35 % ) for a term and amount determined based on the principal amount of PPP loans fully and specifically pledged as collateral in support of the PPPLF borrowings . Draws of PPPLF funds must be repaid to the Federal Reserve immediately after the specific PPP loans collateralizing the related draws are repaid to the Bank . 1