HARRISBURG, Pa. (WHTM) -- The Dauphin County-based Mid Penn Bank announced plans to acquire a financial institution from New Jersey.

According to Mid Penn Bank, they have officially entered into a definitive agreement to acquire 1st Colonial Bancorp, Inc., in a cash and stock transaction that is valued at approximately $101 million.

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This agreement has been unanimously approved by the board of directors for each company.

"We are excited to welcome 1st Colonial to Mid Penn, a strategic move to further expand our footprint into the greater Philadelphia metropolitan area, particularly southern New Jersey,” Mid Penn Chair, President and CEO Rory G. Ritrievi said. “This merger brings together two institutions with a deep unde

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