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Mid Penn Bancorp sells $10M sub debt

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Mid Penn Bancorp sells $10M sub debt

Mid Penn Bancorp Inc. investors on Dec. 19 entered into agreements to buy $10.0 million of the Millersburg, Pa.-based company's redeemable subordinated notes.

The notes pay an annual interest rate of 5.25% for the first five years and then float at the Wall Street Journal prime rate plus 0.50%, with certain conditions.

The notes mature Jan. 1, 2028.