Officials said in a news release that the acquisition will expand Mid Penn Bancorp’s insurance offerings. The company also said the deal will increase its noninterest income.
Commonwealth Benefits Group is based in Carroll Township, York County, was founded in 1985 and owned by Gordon and Brad Graffius. Brad Graffius will join Mid Penn. “This acquisition marks a significant milestone in our growth journey as we expand our capabilities and service offerings to better meet the evolving needs of our clients,” Rory G. Ritrievi, chair, president and CEO of Mid Penn Bancorp, said in a news release. “Commonwealth Benefits Group has had a strong reputation for excellence in the employee benefits sector for nearly 40 years.
MPB Risk Services, which offers insurance services to individuals, families, and businesses, is owned by Mid Penn Bancorp Inc. which also ownsIf you purchase a product or register for an account through a link on our site, we may receive compensation.