With Federal Reserve and state approvals secured, the activist group can now acquire shares up to 24.99% without further regulatory hurdles. Watch for open-market purchases or a formal tender offer — the group's stated 'no current plans' may change as they accumulate. The 10-Q filing on August 6, 2026 showed 25,335,215 shares outstanding; any future 13D amendments will reveal actual buying.
Price Chart
Executive Summary
Philip A. Norcross and affiliated entities filed Amendment No. 7 to their Schedule 13D, reporting a group beneficial ownership of 2,451,458 shares (9.68%) of Mid Penn Bancorp. The key development is that on October 5, 2026, the Federal Reserve issued a non-objection to their proposed acquisition of up to 24.99% of common stock, and the Pennsylvania Department of Banking and Securities approved their application on September 21, 2026. The filing states the group has no current plans for changes to the board, management, or business strategy, but now has regulatory clearance to significantly increase their stake.
Key Financial Metrics
Key Facts
- Group beneficially owns 2,451,458 shares (9.68%) of MPB common stock as of October 5, 2026.
- Federal Reserve issued non-objection on October 5, 2026 to acquire up to 24.99% of outstanding shares.
- Pennsylvania Department of Banking and Securities approved Section 112 application on September 21, 2026.
- Group states no current plans for board changes, M&A, or business strategy shifts.
- Philip A. Norcross is Manager of GAH Capital LLC and Trustee of GAH Capital Trust; his son Alexander is an Assistant VP at Mid Penn Bank.
Financial Impact
Regulatory clearance to increase stake from 9.68% to up to 24.99% — potential for significant additional share purchases in open market.
Risk Factors
- Group states no current plans for board or strategic changes — may remain a passive large holder.
- Regulatory approvals are permissive, not mandatory; actual buying depends on market conditions and price.
- Alexander Norcross's employment at Mid Penn Bank creates potential conflict-of-interest scrutiny.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0001193125-26-416960 |
| Document: 0001193125-26-416960-index.html | 0001193125-26-416960 |
| Document: 0001193125-26-416960.txt | 0001193125-26-416960 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 4d ago | 8-K | $33.88 | awaiting T+5 | — | $34.13 (−0.74%) |
Oct 9, 2026 17d ago | 3 | $35.70 $36.04 | ▲ +0.95% | ▲ +2.92% | $34.13 (−4.40%) |
Oct 7, 2026 18d ago | SC 13D/A | $36.17 $35.97 | ▼ −0.55% | ▼ −0.28% | $34.13 (−5.64%) |
Jul 28, 2026 12w ago | 8-K | $38.35 $38.31 | ▼ −0.10% | ▼ −2.37% | $34.13 (−11.00%) |
Jul 22, 2026 13w ago | 8-K | $36.46 $38.54 | ▲ +5.70% | ▲ +5.23% | $34.13 (−6.39%) |
Jun 11, 2026 19w ago | Institutional Cluster | $33.92 $33.04 | ▼ −2.59% | ▼ −3.03% | $34.13 (+0.62%) |
May 12, 2026 23w ago | 8-K | $31.74 $31.84 | ▲ +0.32% | ▲ +0.24% | $34.13 (+7.53%) |
Apr 21, 2026 26w ago | 8-K | $33.82 $33.60 | ▲ +0.64% | ▲ +0.69% | $34.13 (−0.93%) |
Mar 31, 2026 29w ago | Insider Cluster | $31.95 $33.87 | ▲ +6.02% | ▲ +2.07% | $34.13 (+6.83%) |
Mar 31, 2026 29w ago | Insider Cluster | $31.95 $33.87 | ▲ +6.02% | ▲ +2.07% | $34.13 (+6.83%) |
US Market Status
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