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Regulators OK Mid Penn Bancorp-First Priority Financial deal

Millersburg, Pa.-based Mid Penn Bancorp Inc. and Malvern, Pa.-based First Priority Financial Corp. have secured all requisite regulatory approvals for their proposed merger.

The deal is expected to close in the third quarter.

Following merger completion, First Priority Bank, a unit of First Priority Financial, will be merged into Mid Penn Bank, a unit of Mid Penn Bancorp, and will operate as "First Priority Bank, a division of Mid Penn Bank."

Sandler O'Neill & Partners LP and Pillar & Aught served as Mid Penn's financial adviser and legal counsel, respectively. For First Priority, Griffin Financial Group LLC was the financial adviser and Stevens & Lee PC was legal adviser.