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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables illustrate the assets and liabilities measured at fair value on a recurring basis and reported on the Consolidated Balance Sheets.

						September 30, 2025
(In thousands)						Level 1						Level 2						Level 3						Total
Available-for-sale securities:
U.S. Treasury and U.S. government agencies						$	—					$	19,942					$	—					$	19,942
Mortgage-backed U.S. government agencies						—						365,623						—						365,623
State and political subdivision obligations						—						3,778						—						3,778
Corporate debt securities						—						38,009						—						38,009
Equity securities						442						—						—						442
Loans held for sale						—						6,085						—						6,085
Other assets:
Derivative assets						—						9,491						—						9,491
Other liabilities:
Derivative liabilities						—						9,201												9,201

						December 31, 2024
(In thousands)						Level 1						Level 2						Level 3						Total
Available-for-sale securities:
U.S. Treasury and U.S. government agencies						$	—					$	21,507					$	—					$	21,507
Mortgage-backed U.S. government agencies						—						202,944						—						202,944
State and political subdivision obligations						—						3,596						—						3,596
Corporate debt securities						—						32,430						—						32,430
Equity securities						428						—						—						428
Loans held for sale						—						7,064						—						7,064
Other assets:
Derivative assets						—						13,708						—						13,708
Other liabilities:
Derivative liabilities						—						11,118						—						11,118

Schedule of Fair Value Measurements, Nonrecurring

The following table illustrates financial instruments measured at fair value on a nonrecurring basis:

						September 30, 2025
(In thousands)						Level 1						Level 2						Level 3						Total
Individually evaluated loans, net of ACL						$	—					$	—					$	15,752					$	15,752
Foreclosed assets held for sale						—						—						9,346						9,346
						December 31, 2024
(In thousands)						Level 1						Level 2						Level 3						Total
Individually evaluated loans, net of ACL						$	—					$	—					$	21,171					$	21,171
Foreclosed assets held for sale						—						—						44						44

The following table presents additional information about the valuation techniques for level 3 assets measured at fair value on a nonrecurring basis.

						September 30, 2025
(In thousands)						Fair Value						Valuation Technique						Significant Unobservable Input						Range of Inputs												Weighted Average
Individually evaluated loans, net of ACL						$	15,752					Appraisal of collateral						Appraisal adjustments						8%			-			100%						24.9%
Foreclosed assets held for sale						9,346						Appraisal of collateral						Appraisal adjustments						22%			-			31%						23.9%
						December 31, 2024
(In thousands)						Fair Value						Valuation Technique						Significant Unobservable Input						Range of Inputs												Weighted Average
Individually evaluated loans, net of ACL						$	21,171					Appraisal of collateral						Appraisal adjustments						—%			-			100%						5.6%
Foreclosed assets held for sale						44						Appraisal of collateral						Appraisal adjustments						26%			-			26%						26.0%

Schedule of Fair Value, by Balance Sheet Grouping

The following tables summarize the carrying amount, fair value, and placement in the fair value hierarchy of Mid Penn's financial instruments as of the periods presented:

						September 30, 2025
						Carrying Amount						Estimated Fair Value
(In thousands)												Level 1						Level 2						Level 3						Total
Financial instruments - assets
Cash and cash equivalents						$	257,169					$	257,169					$	—					$	—					$	257,169
Available-for-sale securities						427,352						—						427,352						—						427,352
Held-to-maturity securities						354,094						—						325,606						—						325,606
Equity securities						442						442						—						—						442
Loans held for sale						6,085						—						6,085						—						6,085
Net loans						4,783,797						—						—						4,820,035						4,820,035
Restricted investment in bank stocks						6,737												6,737						—						6,737
Accrued interest receivable						29,705						29,705						—						—						29,705
Derivative assets						9,491						—						9,491						—						9,491
Financial instruments - liabilities
Deposits						$	5,342,720					$	—					$	5,352,901					$	—					$	5,352,901
Short-term borrowings						—						—						—						—						—
Long-term debt (1)						20,304						—						20,343						—						20,343
Subordinated debt						37,149						—						36,542						—						36,542
Accrued interest payable						16,460						16,460						—						—						16,460
Derivative liabilities						9,201						—						9,201						—						9,201

(1)Long-term debt excludes finance lease obligations.

						December 31, 2024
												Estimated Fair Value
(In thousands)						Carrying Amount						Level 1						Level 2						Level 3						Total
Financial instruments - assets
Cash and cash equivalents						$	70,564					$	70,564					$	—					$	—					$	70,564
Available-for-sale securities						260,477						—						260,477						—						260,477
Held-to-maturity securities						382,447						—						340,648						—						340,648
Equity securities						428						428						—						—						428
Loans held for sale						7,064						—						7,064						—						7,064
Net loans						4,407,556						—						—						4,430,623						4,430,623
Restricted investment in bank stocks						7,461												7,461						—						7,461
Accrued interest receivable						26,846						26,846						—						—						26,846
Derivative assets						13,708						—						13,708						—						13,708
Financial instruments - liabilities
Deposits						$	4,689,927					$	—					$	4,684,548					$	—					$	4,684,548
Short-term debt						2,000						—						2,000						—						2,000
Long-term debt (1)						20,540						—						19,120						—						19,120
Subordinated debt						45,741						—						42,811						—						42,811
Accrued interest payable						13,484						13,484						—						—						13,484
Derivative liabilities						11,118						—						11,118						—						11,118

(1)Long-term debt excludes finance lease obligations.

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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