William Penn Bancorporation
williampenn.bankNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2025 10-Q, filed Feb 6, 2025. Its latest SEC filing is a 11-K from Jun 27, 2025.
10-Q for Q2 FY2025, filed Feb 6, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Makes home, commercial property and business loans and offers deposit accounts and other banking services to individuals, businesses and nonprofit organizations in the Delaware Valley.
10-K for FY2024, filed Sep 5, 2024The consolidated financial statements include the accounts of the Company, and its wholly owned subsidiary, the Bank, as well as the Bank’s…View ↗
The Bank’s principal business consists of originating one- to four-family residential real estate mortgage loans, home equity lines of…View ↗
Our loan portfolio consists primarily of one- to four-family residential mortgage loans, one- to four-family investor commercial real…View ↗
The Company is focused on serving the financial needs of consumers and businesses in our primary markets of Southeastern Pennsylvania and…View ↗
How Did They Make Money?
Earns most of its revenue as interest on loans, with additional interest on investment securities; it also collects deposit service charges and fees for customer-requested transactions, which are charged monthly or when the service is completed.
$32.5M
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10-K for FY2024, filed Sep 5, 2024
$32.5M ↗
Who Were Their Customers?
Individuals, businesses, nonprofit organizations and government customers use its retail and commercial banking services. The Bank serves them through its branch network; loan originations come mainly from in-house loan originators, with some referrals from customers and local realtors.
10-K for FY2024, filed Sep 5, 2024The consolidated financial statements include the accounts of the Company, and its wholly owned subsidiary, the Bank, as well as the Bank’s…View ↗
Loan Origination, Purchases and Sales. Loan originations come from a number of sources. The primary source of loan originations are our…View ↗
The Company acts as an independent community financial services provider and offers traditional banking and related financial services to…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2024 and turned 1 cent into free cash flow.
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2025, filed Feb 6, 2025
−$988KView ↗
- ▼ Now a loss
- vs $11K in Q2 FY2024
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May 1, 2025
Mid Penn acquired William Penn and merged the banks
William Penn merged into Mid Penn, with Mid Penn Bank surviving; William Penn shares were converted into Mid Penn shares, and William Penn stock was delisted.
Sources
8-K, filed May 1, 2025
On April 30, 2025, Mid Penn Bancorp, Inc. (“Mid Penn”), the holding company for Mid Penn Bank, completed its acquisition of William Penn…View ↗
Grew. Revenue grew 64% in 4 years, from $19.8M in FY2020 to $32.5M in FY2024, about 13% a year.
Broader commercial lending
The latest report describes commercial construction, land and commercial business loans as part of the lending portfolio and says the company is emphasizing commercial lending while maintaining residential lending. The older report described the portfolio primarily as residential mortgage and investor commercial real estate loans.
10-K for FY2021, filed Sep 15, 2021 10-K for FY2024, filed Sep 5, 2024Our loan portfolio consists primarily of one- to four-family residential mortgage loans and one- to four-family investor commercial real…View ↗
Our loan portfolio consists primarily of one- to four-family residential mortgage loans, one- to four-family investor commercial real…View ↗
Focusing on our commercial lending activities while also maintaining our residential portfolio.View ↗
At June 30, 2024, $211.9 million, or 44.7%, of our total loan portfolio was secured by commercial non-residential real estate, multi-family…View ↗
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