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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 SECOND QUARTER 2021 EARNINGS AND DECLARES DIVIDEND July 26 , 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 June 30 , 2021 of $ 9,613,000 or $ 0.93 per common share basic and diluted , compared to earnings of $ 6,833,000 or $ 0.81 per common share basic and diluted for the quarter ended June 30 , 2020. The earnings per share for the quarter ended June 30 , 2021 reflect an increase of over 15 percent compared to the earnings for the same period in the prior year . Earnings for the six months ended June 30 , 2021 were $ 18,925,000 or $ 2.02 per common share basic and diluted , compared to earnings of $ 10,651,000 or $ 1.26 per common share basic and diluted for the six months ended June 30 , 2020. The earnings per share for the first half of 2021 represents a 60 percent increase over the same period in 2020. Mid Penn also reported total assets of $ 3,461,792,000 as of June 30 , 2021 , reflecting an increase of $ 462,844,000 or over 15 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 $ 24.10 as of June 30 , 2021 , compared to $ 22.39 as of December 31 , 2020 and $ 20.86 as of June 30 , 2020. The GAAP measure of book value per share was $ 29.94 as of June 30 , 2021 compared to $ 30.37 at December 31 , 2020 , and $ 28.94 as of June 30 , 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 June 30 , 2020 to June 30 , 2021 . Included in total assets as of June 30 , 2021 are $ 391,826,000 of Paycheck Protection Program ( " PPP " ) loans , net of deferred fees , with this total being comprised of ( i ) $ 317,428,000 of PPP 2021 loans , net of deferred fees , originated during the first two quarters of 2021 ; and ( ii ) $ 74,398,000 of PPP 2020 loans , net of deferred fees , originated during 2020 which , as of June 30 , 2021 , were still outstanding . Comparatively , as of December 31 , 2020 , Mid Penn had $ 388,313,000 of PPP 2020 loans outstanding , net of deferred fees . Mid Penn had $ 14,472,000 of PPP deferred loan processing fees not yet realized as income as of June 30 , 2021 , consisting of ( i ) $ 872,000 of loan processing fees received related to PPP loans funded during the year ended December 31 , 2020 , and ( ii ) $ 13,600,000 of loan processing fees received related to PPP loans funded during the six months ended June 30 , 2021. Comparatively , as of December 31 , 2020 , Mid Penn had $ 7,746,000 of PPP deferred loan processing fees not yet realized as income , all resulting from PPP loans funded during the year ended December 31 , 2020. Mid Penn was 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 , extended by the signing of the Consolidated Appropriations Act , 2021 into law on December 27 , 2020 , and further extended to May 31 , 2021 by the PPP Extension Act of 2021 . Total core banking loans ( total loans excluding both the PPP loans outstanding , and residential mortgage loans held for sale , a non - GAAP measure ) , increased by $ 107,639,000 since year - end 2020 and totaled $ 2,103,366,000 as of June 30 , 2021 , representing an annualized growth rate of 11 percent . Deposit growth since year - end 2020 through June 30 , 2021 totaled $ 307,544,000 representing an annualized deposit growth rate of over 25 percent , including an increase of $ 155,792,000 in noninterest - bearing deposits including some remaining proceeds deposited from PPP loan funding . Also , during the first half of 2021 , the Bank obtained $ 71,272,000 of additional net funding ( draws less paydowns ) 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