William Penn Bancorporation (WMPN): Business Model Canvas [Dec-2025 Updated]

You're digging into the final strategic blueprint of William Penn Bancorporation (WMPN) right before it fully joined Mid Penn Bancorp, Inc. (MPB) back in April 2025. Honestly, analyzing this model shows a community bank with about $812 million in total assets, a loan portfolio of $465 million, and a clear focus on localized, relationship-focused banking across Pennsylvania and New Jersey, even while managing elevated non-interest expenses like the $0.73 million in merger costs during Q2 FY2025. It's a snapshot of a regional player generating $4.06 million in Net Interest Income, poised for a major structural change. If you want to see exactly how they structured their value proposition, key activities, and revenue streams leading up to that integration, check out the full canvas below.

William Penn Bancorporation (WMPN) - Canvas Business Model: Key Partnerships

You're looking at the Key Partnerships for William Penn Bancorporation (WMPN) as of late 2025, and honestly, the biggest partnership is the one that ended its independent existence: the merger with Mid Penn Bancorp, Inc. (MPB).

The definitive agreement and plan of merger, which was an all-stock transaction, closed on April 30, 2025. This deal was valued at approximately \$120 million. Now, William Penn Bank is merged into Mid Penn Bank, creating a much larger franchise. The combined entity, under Mid Penn Bancorp, Inc., reported total assets of approximately \$6.3 billion following the transaction. A key structural element of this partnership is that Kenneth J. Stephon, William Penn's former Chairman, President and CEO, transitioned to serve as Vice Chair of Mid Penn Bank and Chief Corporate Development Officer for both Mid Penn and Mid Penn Bank. That's a significant integration point, defintely.

For wholesale funding and liquidity, the merged entity relies on the Federal Home Loan Bank (FHLB) system, which is standard for community banks of this size. While I don't have the specific Q3 or Q4 2025 advances figure for the combined Mid Penn Bancorp from the FHLB Office of Finance reports, the FHLB system itself reported total advances of \$742,848 million as of June 30, 2025. This partnership is crucial for accessing collateralized funding to support loan growth.

Regarding core banking technology, the partnership dependency became very clear during the system conversion. William Penn online banking users continued using their old platform until June 20, 2025, when it transitioned to Inquiry Only status. Full migration to the Mid Penn Bank's online banking platform, mobile app, and telephone banking service started on June 23, 2025. This shows a hard dependency on the technology stack and operational support provided by the systems now governed by Mid Penn Bancorp.

Finally, the local community organization partnerships are now inherited and managed under the Mid Penn Bank umbrella, focusing on the expanded footprint. William Penn Bank previously served the Delaware Valley area, operating through 12 branch offices across Pennsylvania and New Jersey. The combined bank now extends this commitment across Southeastern Pennsylvania and Central and Southern New Jersey.

Here's a quick look at the key players and associated numbers we can confirm:

The merger consideration involved William Penn shareholders receiving 0.4260 shares of Mid Penn common stock for each share held. Also, the initial merger agreement valued the transaction at approximately \$127 million based on October 30, 2024, pricing, though the final reported value was about \$120 million.

Finance: draft 13-week cash view by Friday.

William Penn Bancorporation (WMPN) - Canvas Business Model: Key Activities

You're looking at the final operational activities of William Penn Bancorporation before its full integration, which is a key focus for analysts tracking the transition. The core activities revolved around maintaining balance sheet health while executing a major strategic shift.

Generating net interest income through loan and deposit services was the primary engine. This involved the daily management of the earning asset portfolio against the cost of funding. For the quarter ended December 31, 2024 (Q2 FY2025), the Net Interest Income (NII) stood at $4.06 million. This was achieved while the Net Interest Margin (NIM) held essentially flat at 2.27% for that same period. Deposit activities, which were a key resource, showed total deposits around $630 million as of September 30, 2024, just before the final merger push.

The management of the loan book was a critical, ongoing task. This activity focused on underwriting quality and portfolio performance right up to the closing date. The loan portfolio management centered on the book as it stood before the final closing, which was reported at $465 million as of September 30, 2024. This portfolio composition included several key segments:

Executing the merger and integration plan with Mid Penn Bancorp became the most significant activity in the first half of 2025. Shareholder approval was secured on April 2, 2025, with over 96% of William Penn Bancorporation shares voting in favor. The holding company merger officially closed after business on April 30, 2025. Post-closing, William Penn Bank was merged with and into Mid Penn Bank. Kenneth J. Stephon, the former Chairman, President and CEO, transitioned to roles including Vice Chair of Mid Penn Bank.

Maintaining strong asset quality was a non-negotiable activity, providing a solid foundation for the merger valuation. The latest reported metric showed significant improvement leading into the final quarter of independent operation. Specifically, Non-Performing Assets (NPAs) to Total Assets fell to 0.30% for the quarter ended December 31, 2024 (Q2 FY2025), down from 0.38% as of September 30, 2024. This focus on credit quality was a bright spot for the final reports.

Finally, Regulatory compliance and capital management ensured the institution met all required thresholds leading up to the transaction close. Capital strength was robust, which is key for any bank undergoing consolidation. The Common Equity Tier 1 Capital Ratio (CBLR) was reported at 16.66% as of December 31, 2024. This level provided ample cushion and flexibility through the final regulatory hurdles.

The key operational metrics leading into the merger completion were:

• NPA/Assets ratio (Q2 FY2025): 0.30%
• CBLR (Q2 FY2025): 16.66%
• Loan Portfolio Size (Sep 30, 2024): $465 million
• Net Interest Income (Q2 FY2025): $4.06 million
• Merger Close Date: April 30, 2025

Finance: draft post-merger pro-forma asset quality projection by next Tuesday.

William Penn Bancorporation (WMPN) - Canvas Business Model: Key Resources

When you look at the Key Resources for William Penn Bancorporation, you're really looking at the foundational elements that supported its community banking model right up until its acquisition by Mid Penn Bancorp, Inc. on April 30, 2025. Since the entity was absorbed, these figures represent the scale and structure it brought to the combined organization.

The physical and financial scale of William Penn Bancorporation was anchored by its balance sheet size and its local presence. As of September 30, 2024, the company reported total assets of approximately $812 million.

The deposit franchise was a critical resource, providing the low-cost funding base necessary for lending operations. The core deposit base stood at approximately $630 million as of September 30, 2024.

This physical footprint was concentrated in the Delaware Valley area, utilizing:

• 12 branch offices across Pennsylvania and New Jersey.

The human capital was another essential component, consisting of the experienced community banking personnel and management team that understood the local markets in Bucks County, Philadelphia, and Southern New Jersey.

Financially, the structure of the balance sheet itself was a key resource, described as liability-sensitive positioning for interest rate changes. This positioning relates to how the mix of assets and liabilities reacts to shifts in the Federal Reserve's rate policy. For context on the scale post-merger, the consolidated assets of the combined company totaled approximately $6.3 billion following the April 2025 transaction.

Here's a quick look at the primary tangible and structural resources leading up to the integration:

To be fair, the balance sheet positioning-being liability-sensitive-is a dynamic resource, meaning its effectiveness changes daily with market conditions. For example, in the quarter ending December 31, 2024, the Net Interest Margin (NIM) was reported at 2.27%, showing the immediate impact of funding costs on that structure.

William Penn Bancorporation (WMPN) - Canvas Business Model: Value Propositions

You're looking at the core value delivered by William Penn Bank, the operating subsidiary of William Penn Bancorporation, right before its acquisition by Mid Penn Bancorp, Inc. on April 30, 2025. The value proposition centered on a localized, relationship-driven approach, which is what the acquiring entity, Mid Penn Bancorp, Inc., sought to integrate and expand upon.

Localized, relationship-focused community banking services

William Penn Bank focused its services within its local markets, operating 12 branches across Pennsylvania and New Jersey as of September 30, 2024. The business model emphasized serving individuals and small- to medium-sized businesses in the Delaware Valley area. This localized presence was a key component of the value proposition, aiming to build deep customer trust.

• Operated 12 branches across Pennsylvania and New Jersey as of September 30, 2024.
• Provided community banking services to individuals and small- to medium-sized businesses.
• The merger with Mid Penn Bancorp, Inc. aimed to extend this footprint into the Greater Philadelphia Metro market.

Diverse deposit products: checking, savings, money market, and CDs

The bank offered a full suite of traditional deposit instruments designed to meet varied customer needs. As of its last reported period, the deposit base was substantial, though experiencing some mix shifts. As of September 30, 2024, total deposits stood at approximately $630 million.

The product offering included:

• Time, savings, money market, and demand deposits.
• Certificates of Deposit (CDs).
• Non-interest bearing and interest-bearing checking accounts.
• Savings, club, and individual retirement accounts (IRAs).

Commercial and residential real estate lending expertise

Lending was heavily concentrated in real estate secured by properties within the local markets. Total loans stood at approximately $465 million as of September 30, 2024. The portfolio mix showed clear specialization in residential and commercial real estate.

The bank also provided commercial non-residential real estate loans, which formed another significant part of the lending book.

Financial stability with robust capital levels and strong credit quality

A core value proposition, particularly relevant as the merger closed, was the perceived strength of the bank's balance sheet quality leading into the transaction. The bank's subsidiary reported improving asset quality metrics in its final reported quarter (Q2 FY2025, ending December 31, 2024). Furthermore, the capital position was described as robust entering the merger process.

Here are the key figures illustrating credit quality just before the merger:

For context on the combined entity post-merger (Mid Penn Bancorp, Inc. as of March 31, 2025), regulatory capital ratios indicated levels in excess of the minimums required to be considered 'well capitalized'. The combined company projected total assets of approximately $6.3 billion following the April 30, 2025, closing.

William Penn Bancorporation (WMPN) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for William Penn Bancorporation (WMPN) as of late 2025. Honestly, the picture is defined by its recent acquisition by Mid Penn Bancorp, Inc., which closed on April 30, 2025. So, the relationships are now managed under the Mid Penn Bank umbrella, but the legacy structure informs the integration strategy.

Personal and direct service model through branch network

The direct service model relied on a physical footprint that served the Delaware Valley area. Before the merger, William Penn Bank conducted business through 12 branch offices located across Pennsylvania and New Jersey. This network provided the face-to-face touchpoint for core transactions and relationship building. The combined entity, post-merger, now extends this physical presence, though specific post-merger branch counts for the former WMPN footprint aren't separately reported.

Dedicated relationship managers for small- to medium-sized businesses

A key relationship focus was clearly on the small- to medium-sized business (SMB) segment, evidenced by the loan portfolio composition as of June 30, 2023. The bank made non-residential real estate loans specifically to SMBs totaling $157.6 million, which accounted for 32.8% of the total loan portfolio at that date. Furthermore, commercial real estate and business loans overall stood at $203.9 million, representing 42.4% of the total loan book. This concentration suggests dedicated relationship managers were crucial for underwriting and servicing these larger, more complex commercial relationships.

Automated self-service via online and mobile banking platforms

While the direct service model is important, the digital channel is the expected baseline for modern banking. Industry-wide data for 2025 shows that a significant majority of consumers-77 percent-prefer to manage their bank accounts through a mobile app or a computer. Also, over 83% of U.S. adults have used digital banking services as of 2025. The integrated bank must meet or exceed the expectation that 72% of consumers favor banks with a strong app experience. The focus here is on seamless integration of WMPN's existing digital assets into the larger Mid Penn platform.

High-touch, community-centric engagement model

The entire premise of the merger, as stated by leadership, was to join two institutions with deep roots in community banking and bolster presence in the Greater Philadelphia area market. This high-touch model is about local decision-making and community investment, which is a core differentiator against larger national banks. The commitment to this model is reinforced by the fact that Kenneth J. Stephon, William Penn's former CEO, was appointed to the Boards of Directors of Mid Penn and Mid Penn Bank, serving as Vice Chair of Mid Penn Bank, ensuring continuity of the community focus in leadership.

Here are the key structural and financial metrics related to the customer base and service delivery:

The customer relationship strategy is now centered on retaining the local trust built by William Penn Bank while scaling service delivery through the larger Mid Penn infrastructure. You need to track deposit retention rates in the former WMPN footprint post-merger, as deposits were reported at $629.8 million for WMPN as of Q1 FY2025 (quarter ended September 30, 2024).

The focus for the combined entity involves leveraging the existing customer base to drive growth in the attractive Greater Philadelphia Metro market. The former WMPN customer base is now part of a larger franchise that, on a pro forma basis, had total deposits of approximately $5.3 billion following the merger.

William Penn Bancorporation (WMPN) - Canvas Business Model: Channels

You're looking at the channels William Penn Bancorporation used to reach customers, keeping in mind that by late 2025, the entity was acquired by Mid Penn Bancorp, Inc., which closed in the second quarter of 2025. The following details reflect the structure and scale of William Penn Bancorporation's operations leading up to that transaction.

The physical footprint was a core channel, providing face-to-face service across its defined market area. As of the information preceding the merger, William Penn Bancorporation conducted business through a network of 12 branch offices situated across Pennsylvania and New Jersey. Specifically, these locations served customers in Bucks County and Philadelphia, Pennsylvania, as well as Burlington, Camden, and Mercer Counties in New Jersey.

The physical channel supported the overall balance sheet structure. For context, as of September 30, 2024, William Penn Bancorporation held approximately $630 million in total deposits and $812 million in total assets.

Digital banking via website and mobile applications served as the necessary modern complement to the physical network. While specific William Penn Bancorporation digital adoption rates for late 2025 aren't on record, the industry context shows that by 2025, an estimated 216.8 million Americans were expected to use digital banking services, with 77% of consumers preferring mobile or computer management of their accounts.

Access to cash and basic transactions was facilitated through ATMs and a shared network. This channel supports the deposit base, which stood at $630 million in total deposits as of September 30, 2024. The bank's lending focus, which is closely tied to its relationship channels, showed a clear emphasis on commercial activity.

The direct sales force was critical for the commercial lending and business services segment. This channel targeted small- to medium-sized businesses in the Delaware Valley area. The focus on this segment is quantifiable by looking at the loan portfolio composition as of June 30, 2024:

• Commercial non-residential real estate, multi-family real estate, commercial construction and land, and commercial business loans totaled $211.9 million.
• This commercial segment represented 44.7% of the total loan portfolio at that date.
• The total loan portfolio size as of September 30, 2024, was $465 million.

You can see the breakdown of the loan portfolio by collateral type as of June 30, 2024, which illustrates where the direct sales efforts were concentrated:

The bank offered commitments for fixed-rate and adjustable-rate mortgage loans, which generally expire in 30 days.

William Penn Bancorporation (WMPN) - Canvas Business Model: Customer Segments

You're looking at the customer base for William Penn Bancorporation (WMPN) right as its operations were being integrated into Mid Penn Bancorp, Inc. following the merger closing targeted for the second calendar quarter of 2025. The core segments served by William Penn Bank were deeply rooted in the local Delaware Valley economy.

Individuals and households seeking retail banking products formed a foundational segment. William Penn Bank actively solicited these customers, competing on personal attention and professional service, aiming to capture deposits within its service footprint. The bank's loan portfolio reflected significant retail activity, with one- to four-family residential mortgage loans being a primary lending focus.

Small- to medium-sized businesses (SMBs) in the local market were the other key pillar. William Penn Bank provided community banking services specifically tailored to this group. The bank also offered secured and unsecured lines of credit for well-qualified individuals and small businesses, which totaled $32.7 million as of June 30, 2023.

Real estate investors and developers needing commercial loans were served through specialized lending products. This segment was served by the origination of loans secured by non-owner occupied one- to four-family residential properties, which are often held by investors seeking rental income. Furthermore, the portfolio included commercial non-residential real estate loans and commercial construction loans.

Customers within the Delaware Valley area (Greater Philadelphia Metro) defined the entire operational scope. William Penn Bank conducted business through 12 full-service branch offices across this region. The bank's strategy relied on its long-standing presence in these specific, high-value markets to attract and retain customers.

Here's the quick math on the loan portfolio composition, based on data as of June 30, 2024, which defined the asset side of the customer base just before the merger:

The geographic concentration of these customers is best understood by looking at the local economic conditions in the counties served by William Penn Bank's 12 branches:

• Bucks County, Pennsylvania: Unemployment rate of 3.2% as of June 2024.
• Philadelphia County, Pennsylvania: Unemployment rate of 4.7% as of June 2024.
• Burlington County, New Jersey: Unemployment rate of 4.2% as of June 2024.
• Camden County, New Jersey: Unemployment rate of 5.1% as of June 2024.
• Mercer County, New Jersey: Unemployment rate of 4.4% as of June 2024.

To be fair, the deposit base was also a critical segment focus, with $630 million in total deposits as of September 30, 2024, characterized by an average account size of $30 thousand and 85%+ of time deposits repricing in the next 12 months (based on 6/30/2024 data context). Finance: draft pro-forma customer segment analysis incorporating MPB's base by next Tuesday.

William Penn Bancorporation (WMPN) - Canvas Business Model: Cost Structure

You're looking at the cost base for William Penn Bancorporation, keeping in mind that the entity merged into Mid Penn Bancorp, Inc. on April 30, 2025, meaning the latest full-year view will be heavily influenced by the combined company's reporting structure post-merger.

The primary driver of funding costs remains the interest paid out to depositors. For the quarter ended March 31, 2025 (Q1 FY2025), William Penn Bank reported a Total Interest Expense on Deposits of $3,246 thousand (or $3.246 million). This figure reflects the cost of their Total Deposits, which stood at $623,549 thousand (or $623.549 million) at that same date.

Non-interest expenses saw a notable spike due to the acquisition activity. For the six months ended June 30, 2025 (covering Q1 and Q2 FY2025), Mid Penn Bancorp reported that merger and acquisition expenses totaled $11.3 million, with $11.2 million specifically attributed to the William Penn acquisition. This elevated expense is a one-time integration cost, not a recurring operational expense, but it certainly impacted the Q2 reporting period.

Personnel costs are tied directly to the workforce size. As of June 30, 2024, William Penn Bancorporation had 92 total employees, consisting of 90 full-time and 2 part-time staff. Personnel and compensation, which includes salaries and benefits, is a significant component of the overall non-interest expense structure for any community bank. For the six months ended June 30, 2025, salaries and benefits for the combined entity increased by $6.1 million year-over-year, driven partly by staff additions from the William Penn acquisition and retention efforts.

The physical footprint represents a fixed cost base. William Penn Bancorporation operated a 12-branch physical network across Pennsylvania and New Jersey prior to the merger closing on April 30, 2025. Operating costs for this network, covering occupancy and equipment, are a necessary expenditure to maintain local market presence, though specific 2025 dollar amounts for this segment alone are not explicitly detailed in the latest available reports.

Technology and regulatory compliance expenditures are essential but variable cost centers. While specific dollar amounts for William Penn Bancorporation's 2025 spending aren't isolated, industry benchmarks give you a sense of scale. Banks typically allocate between 2.9% and 8.7% of their non-interest expenses to compliance. Furthermore, compliance activities can consume around 10% of a financial institution's total personnel expenses, covering staff and training. The regulatory environment in 2025, with new rules on electronic fund transfers and data rights, means these technology and compliance outlays are likely to remain substantial.

Here is a summary of the key cost-related figures we can confirm:

You should note that the cost structure post-merger will reflect the integration of systems, which often leads to initial increases in technology spending followed by expected long-term cost savings, or synergies, which are not yet quantified in these initial reports.

• Personnel and compensation costs are a major component of operating expenses.
• Interest expense on deposits is the largest variable cost tied to funding.
• Merger costs in Q2 FY2025 were a significant, non-recurring expense.
• Technology spend is driven by the need to meet evolving regulatory demands.
• Occupancy costs are fixed by the 12-branch footprint.

Finance: draft 13-week cash view by Friday.

William Penn Bancorporation (WMPN) - Canvas Business Model: Revenue Streams

The revenue streams for William Penn Bancorporation were fundamentally anchored in traditional community banking activities, primarily driven by the interest earned on its asset base, which was significantly impacted by the merger with Mid Penn Bancorporation, Inc. on April 30, 2025. The figures below reflect the last reported operational data points for William Penn Bancorporation as a standalone entity, specifically referencing the quarters within its FY2025 reporting cycle.

The core of the revenue generation was Net Interest Income (NII), the difference between interest earned on assets and interest paid on liabilities. For the second quarter of its fiscal year 2025 (Q2 FY2025, which ended December 31, 2024, for WMPN), the Net Interest Income was reported at $4.06 million.

Interest on the loan portfolio, the largest component of interest income, is derived from the principal amount outstanding. As of the end of the first quarter of fiscal year 2025 (Q1 FY2025, which ended September 30, 2024), William Penn Bancorporation held total loans of $465 million. This portfolio supported the interest income stream before the acquisition.

Non-interest income provided a secondary, albeit smaller, set of revenue sources. This included income derived from customer activities and asset management. A specific, one-time boost to this stream in Q2 FY2025 came from the $0.21 million fixed-asset sale gain.

The full picture of the revenue streams, using the latest available WMPN-specific data for the period covering late 2024/early 2025, can be summarized as follows:

The non-interest income stream also includes revenue from deposit fees and service charges, which contributed to the Total Non-Interest Income figure. For the trailing twelve months ending December 31, 2024, Total Non-Interest Income for William Penn Bancorporation was $2.31 million.

Interest on investment securities and other assets is a distinct stream from loan interest. Based on the income statement data for the trailing twelve months ending December 31, 2024, the Interest Income on Investments component was $7.02 million. This contrasts with the Total Interest Income for that same TTM period, which was $32.59 million.

You can see the breakdown of the primary income sources contributing to the overall revenue:

• Interest Income on Loans for the TTM ending December 31, 2024, was $25.57 million.
• Interest Income on Investments for the TTM ending December 31, 2024, was $7.02 million.
• Total Interest Income for the TTM ending December 31, 2024, was $32.59 million.
• Total Non-Interest Income for the TTM ending December 31, 2024, was $2.31 million.

Finance: draft 13-week cash view by Friday.