Risk Factors Update Summary
- The interest rates were raised in 2023, with a significant decrease from 88% to 81% in the loan portfolio composition.
- The company adjusted its loan allowance methodology to reflect the new standard, resulting in periodic estimates of lifetime expected credit losses.
- Mid Penn acquired Brunswick Bancorp, increasing goodwill and other intangible assets to $127 million.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=879635&owner=exclude
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