Mid Penn Bank Millerburg Pennsylvania

Might as well trust this guy with your money, can’t be any worse than these clowns

Mid Penn Bank Millersburg Pennsylvania was founded in 1868.  The company took $10MM in government bailout money which it hasn’t paid back.

The company has $637MM in assets with $48MM in equity.

The actual equity is $38MM w,en the tax payer funded money is backed out of the equity position.

The problem loan portfolio is $21MM.

So they have $21MM in problem loans with $38MM in equity, that is not a good situation.  The non accrual alone could severely erode the equity position.

How and when are they going to pay the tax payer back the $10MM?

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