What drove MPB's earnings growth in 2024?

Mid Penn Bancorp (MPB) experienced notable earnings growth in 2024, driven by several key factors: 1. **Loan Growth and Organic Expansion**: MPB's organic loan growth was significant, with a year-end increase of $423.6 million, reflecting a 10.8% rise. This growth in loans contributed directly to the increase in net income. 2. **Interest Income Increase**: The total interest income for MPB's fourth quarter rose by 4.26% to $66.1 million. This uptick in interest income, likely due to the repricing of assets and continued discipline on new loan pricing, played a crucial role in boosting earnings. 3. **Efficient Cost Management**: MPB managed to control loan growth and cut operating expenses effectively, which helped in improving net income margins. This strategic cost management likely led to a more significant portion of revenues flowing directly to the bottom line. 4. **Dividend Payments**: Although not directly related to earnings growth, MPB's declaration of a quarterly cash dividend of $0.20 per share reflects financial stability and confidence in future earnings, which could positively influence investor sentiment and potentially attract more investors. In summary, MPB's 2024 earnings growth was primarily driven by strong loan growth, increased interest income, efficient cost management, and a strategic approach to dividends. These factors combined to deliver robust financial performance and exceeded market expectations.