Mid Penn Bancorp, the parent company of Mid Penn Bank, announced it completed its acquisition of Sarasota, Florida-based Cumberland Advisors on January 1, 2026, expanding the bank’s wealth and investment management capabilities through the addition of a registered investment advisory firm with a national and international client base.
Cumberland reported approximately $3.2 billion in assets under management as of December 31, 2025. Mid Penn said Cumberland has been merged into a newly formed acquisition subsidiary and will operate as Cumberland Advisors, LLC. The acquired firm’s investment advisory professionals have joined Mid Penn as part of the transaction.
Founded in 1973, Cumberland is a fee-for-service investment management company serving advisors, individuals, and institutional investors. The firm describes its approach as conservatively oriented, focused on managing risk and returns using independent research and market analysis, alongside a relationship-driven service model.
Mid Penn Bancorp is headquartered in Harrisburg, Pennsylvania, and said it operates 59 retail locations across Pennsylvania and central and southern New Jersey, with total assets of more than $6 billion. Financial terms of the acquisition were not disclosed.
KEY QUOTE:
“We are excited to welcome the Cumberland Advisors team, customers and shareholders to the Mid Penn family. Cumberland has built a strong reputation for excellence and is the ideal choice to help us continue our legacy of delivering exceptional financial solutions while maintaining a strong commitment to customer care.”
Rory G. Ritrievi, Chair, President and CEO, Mid Penn Bancorp
