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Investment Securities
 3 Months Ended
Mar. 31, 2026
Securities Financing Transactions Disclosures [Abstract]  
Investment Securities Investment Securities
AFS Securities
As of March 31, 2026, the fair value of AFS securities totaled $484.1 million. As of March 31, 2026, no securities were identified that violated credit loss triggers; therefore, no discounted cash flow analysis was required. As of March 31, 2026, the Corporation recorded no allowance for credit losses on any available-for-sale debt securities.
Accrued interest receivable is excluded from the estimate of credit losses for AFS securities. As of March 31, 2026, accrued interest receivable totaled $3.1 million for AFS securities, and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.
HTM Securities
As of March 31, 2026, Mid Penn’s HTM securities totaled $341.0 million. The Corporation primarily held highly rated HTM securities, including taxable and tax-exempt securities issued mainly by the U.S government, state governments, and political subdivisions. As of March 31, 2026, the majority of Mid Penn's HTM securities were rated investment grade, generally A1/BBB by Moody's and/or Standard & Poor's ratings services. Credit ratings of HTM securities, which are a key factor in estimating expected credit losses, are reviewed on a quarterly basis. Management has the intent and ability to hold these securities to maturity.
As of March 31, 2026, there were no HTM securities that were past due 30 days or more as to principal or interest payments. Additionally, Mid Penn had no HTM securities classified as nonaccrual as of March 31, 2026. As of March 31, 2026, the Corporation recorded no allowance for credit losses on any held-to-maturity debt securities.
Accrued interest receivable is excluded from the estimate of credit losses for HTM securities. As of March 31, 2026, accrued interest receivable totaled $1.9 million for HTM securities and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.
The following tables set forth the amortized cost and estimated fair value of investment securities for the periods presented:
March 31, 2026
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$17,266 $— $404 $16,862 
Mortgage-backed U.S. government agencies386,477 2,236 12,492 376,221 
State and political subdivision obligations51,406 — 552 50,854 
Corporate debt securities41,642 377 1,826 40,193 
Total available-for-sale debt securities496,791 2,613 15,274 484,130 
Held-to-maturity
U.S. Treasury and U.S. government agencies$231,015 $— $17,042 $213,973 
Mortgage-backed U.S. government agencies31,214 3 3,665 27,552 
State and political subdivision obligations63,281 2 4,619 58,664 
Corporate debt securities15,447 3 1,241 14,209 
Total held-to-maturity debt securities340,957 8 26,567 314,398 
Total$837,748 $2,621 $41,841 $798,528 
December 31, 2025
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$19,446 $— $380 $19,066 
Mortgage-backed U.S. government agencies361,109 3,788 11,500 353,397 
State and political subdivision obligations4,319 — 485 3,834 
Corporate debt securities41,638 249 1,870 40,017 
Total available-for-sale debt securities$426,512 $4,037 $14,235 $416,314 
Held-to-maturity     
U.S. Treasury and U.S. government agencies$231,980 $— $16,566 $215,414 
Mortgage-backed U.S. government agencies32,418 4 3,747 28,675 
State and political subdivision obligations67,441 12 4,043 63,410 
Corporate debt securities15,446 — 1,243 14,203 
Total held-to-maturity debt securities347,285 16 25,599 321,702 
Total$773,797 $4,053 $39,834 $738,016 
Estimated fair values of debt securities are based on quoted market prices, where applicable. If quoted market prices are not available, fair values are based on quoted market prices of instruments of a similar type, credit quality and structure, adjusted for differences between the quoted instruments and the instruments being valued. See "Note 8 - Fair Value Measurement," for additional information.
Investment securities having a fair value of $541.8 million as of March 31, 2026 and $544.7 million as of December 31, 2025 were pledged primarily to secure public deposits, some Trust department deposit accounts, and certain other borrowings. In accordance with legal provisions for alternatives other than pledging of investments, Mid Penn also obtains letters of credit from the FHLB to secure certain public deposits. These FHLB letter of credit commitments totaled $406.5 million as of March 31, 2026 and $162.5 million as of December 31, 2025.
The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
March 31, 2026Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies—$— $— 9$16,862 $404 9$16,862 $404 
Mortgage-backed U.S. government agencies45280,082 1,023 8496,139 11,469 129376,221 12,492 
State and political subdivision obligations—— — 850,854 552 850,854 552 
Corporate debt securities818,765 4 1421,428 1,822 2240,193 1,826 
Total available-for-sale debt securities53$298,847 $1,027 115$185,283 $14,247 168$484,130 $15,274 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies35,759 55 133208,214 16,987 136213,973 17,042 
Mortgage-backed U.S. government agencies51,004 3 5826,548 3,662 6327,552 3,665 
State and political subdivision obligations4755,344 48 1193,320 4,571 16658,664 4,619 
Corporate debt securities33,400 100 910,809 1,141 1214,209 1,241 
Total held-to-maturity debt securities5865,507 206 319248,891 26,361 377314,398 26,567 
Total111$364,354 $1,233 434$434,174 $40,608 545$798,528 $41,841 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2025Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies—$— $— 10$19,066 $380 10$19,066 $380 
Mortgage-backed U.S. government agencies27208,676 141 91144,721 11,359 118353,397 11,500 
State and political subdivision obligations124 — 83,810 485 93,834 485 
Corporate debt securities818,573 64 1421,444 1,806 2240,017 1,870 
Total available-for-sale securities36227,273 205 123189,041 14,030 159416,314 14,235 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies—$— $— 137$215,414 $16,566 137$215,414 $16,566 
Mortgage-backed U.S. government agencies4423 — 6028,252 3,747 6428,675 3,747 
State and political subdivision obligations124,401 2 13959,009 4,041 15163,410 4,043 
Corporate debt securities33,368 128 910,835 1,115 1214,203 1,243 
Total held-to-maturity securities198,192 130 345313,510 25,469 364321,702 25,599 
Total55$235,465 $335 468$502,551 $39,499 523$738,016 $39,834 
As of March 31, 2026 and December 31, 2025, the majority of the unrealized losses on securities in an unrealized loss position were attributable to U.S. Treasury and U.S. government agencies, and mortgage-backed U.S. government agencies.

The Corporation evaluates debt securities for credit losses in accordance with ASC 326. Mid Penn had no securities considered by management to be credit related losses as of March 31, 2026 and December 31, 2025, and did not record any securities losses in the respective periods ended on these dates. Mid Penn does not consider the securities with unrealized losses on the respective dates to be credit related losses as the unrealized losses were deemed to be temporary changes in value related to market movements in interest yields at various periods similar to the maturity dates of holdings in the investment portfolio, and not reflective of an erosion of credit quality.
There were no gross realized gains on the sale of AFS securities as of March 31, 2026 and December 31, 2025, respectively.
The table below illustrates the contractual maturity of debt investment securities at amortized cost and estimated fair value. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties.
(In thousands)Available-for-saleHeld-to-maturity
March 31, 2026Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in 1 year or less$57,495 $57,383 $28,834 $28,572 
Due after 1 year but within 5 years14,392 14,199 157,135 147,941 
Due after 5 years but within 10 years37,583 35,670 114,622 102,527 
Due after 10 years844 657 9,152 7,806 
110,314 107,909 309,743 286,846 
Mortgage-backed securities386,477 376,221 31,214 27,552 
$496,791 $484,130 $340,957 $314,398