William Penn Bancorp declares 3c per share dividend

William Penn announced that its Board of Directors has declared a cash dividend of 3c per share, payable on February 6 to common shareholders of record at the close of business on January 27. Kenneth J. Stephon, William Penn’s Chairman, President, and CEO, stated, “We remain focused on the continued strength of our balance sheet and the sound execution of our business model. During the quarter ended December 31, we had solid growth in our loan portfolio and continued improvement in our asset quality. Gross loans increased by $5.4M on a linked quarter basis, for an annualized growth rate of 4.6%, and non-performing assets declined, measuring 0.30% of total assets at December 31…In addition, recurring operating expenses remained well controlled aside from expenditures directly related to the proposed merger with Mid Penn Bancorp, Inc.”