STOCK TITAN

LINKBANCORP, Inc. - LNKB STOCK NEWS

Welcome to our dedicated page for LINKBANCORP news (Ticker: LNKB), a resource for investors and traders seeking the latest updates and insights on LINKBANCORP stock.

LINKBANCORP, Inc. (NASDAQ: LNKB) operates as the bank holding company for LINKBANK, providing a wide range of personal and business banking products and services in Pennsylvania, Maryland, Delaware, Virginia, and New Jersey. With a mission to positively impact lives through community banking, LINKBANCORP was founded in 2018 and is headquartered in Camp Hill, Pennsylvania.

The company's product offerings include various types of accounts such as checking and savings, and a diverse array of loans including small business, term, auto, and real estate loans, as well as lines of credit. LINKBANCORP also offers treasury management services like remote deposit capture, ACH collection and disbursement, merchant services, and wire transfers. Convenience services are also a hallmark, featuring ATMs, debit cards, online and mobile banking, bill pay, card valet, and e-statements.

In recent quarters, LINKBANCORP has shown strong financial performance. For example, in the second quarter of 2023, the company reported net income of $1.35 million and net interest income of $8.1 million. The third quarter of 2023 continued this positive momentum with net income of $1.24 million and a net interest margin of 2.89%.

The company's merger with Partners Bancorp, completed in November 2023, significantly expanded its footprint and financial position. This merger added $1.50 billion in assets, $1.24 billion in loans, and $1.30 billion in deposits, establishing LINKBANCORP as a premier Mid-Atlantic community banking franchise. Despite one-time merger-related expenses leading to a net loss in Q4 2023, LINKBANCORP's operational metrics remained robust. As of December 31, 2023, the company reported $2.66 billion in total assets and a strong capital position, with a tangible common equity ratio of 7.09%.

As of the first quarter of 2024, LINKBANCORP reported net income of $5.73 million, marking its first full quarter post-merger. The company continues to focus on integrating its operations and achieving operational efficiencies. Key performance indicators include a net interest margin of 4.03% and significant growth in commercial loan commitments.

LINKBANCORP's dedicated approach to risk management and strong asset quality metrics ensure stability and growth. As of March 31, 2024, non-performing assets were only 0.25% of total assets, reflecting prudent lending practices and robust risk management strategies.

Rhea-AI Summary

LINKBANCORP, Inc. (NASDAQ: LNKB) announced the sale of its New Jersey operations to American Heritage Federal Credit Union, involving $105 million in deposits and $123 million in loans. The transaction aims to reallocate capital towards core markets and accelerate growth in other regions. Expected to close in the second half of 2024, subject to regulatory approvals.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.49%
Tags
none
-
News
Rhea-AI Summary

LINKBANCORP has appointed Catherine Eisel as Chief Risk Officer of the Company and its banking subsidiary, LINKBANK. Eisel, who joined LINKBANK as Deputy Chief Risk Officer, will oversee the Company's risk management program. With her extensive experience at the FDIC, Eisel is expected to enhance the enterprise-wide risk management program and contribute to the Company's growth strategy.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.13%
Tags
management
-
Rhea-AI Summary

LINKBANCORP, Inc. reported strong first quarter earnings in 2024, with net income of $5.73 million and adjusted earnings of $5.77 million. Net interest income before provision was $24.9 million, and total deposits increased to $2.39 billion. Total loans slightly increased to $2.25 billion, and asset quality remained strong. The merger with Partners Bancorp in 2023 positively impacted results, leading to a reduction in headcount and increased efficiency.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.15%
Tags
Rhea-AI Summary
LINKBANCORP, Inc. reported a net loss of $13.2 million for the fourth quarter of 2023, impacted by one-time costs related to the successful merger with Partners Bancorp. Excluding these expenses, earnings for the quarter would have been $2.0 million. The merger expanded LINKBANK's footprint into Maryland, Delaware, Virginia, and New Jersey, adding $1.50 billion in assets, $1.24 billion in loans, and $1.30 billion in deposits. However, the Merger resulted in dilution in the Company's tangible book value per share. The Company's financial results for the fourth quarter of 2023 may not be directly comparable to prior reported periods due to the merger-related expenses incurred.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.58%
Tags
-
Rhea-AI Summary
LINKBANCORP, Inc. (NASDAQ: LNKB) completes the merger with Partners Bancorp (NASDAQ: PTRS) and its subsidiaries, The Bank of Delmarva and Virginia Partners Bank, establishing LINKBANK as a premier Mid Atlantic community bank franchise. The combined company now has approximately $2.8 billion in total assets, $2.3 billion in deposits, and $2.2 billion in loans, serving clients in Central and Southeastern Pennsylvania, Maryland, Delaware, Virginia, and Southern New Jersey through 31 client solution centers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.46%
Tags
none
-
Rhea-AI Summary
LINKBANCORP, Inc. (LNKB) and Partners Bancorp (PTRS) have received regulatory approval from the Federal Reserve System for their merger. The all-stock transaction will result in Partners merging with and into LINK, with LINK as the surviving corporation. The Bank of Delmarva and Virginia Partners Bank will also merge with and into LINKBANK, with LINKBANK as the surviving sole bank subsidiary of LINK. The Merger is set to close on November 30, 2023, pending customary closing conditions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.83%
Tags
Rhea-AI Summary
LINKBANCORP, Inc. reported net income of $1.24 million, or $0.08 per diluted share, for Q3 2023. Total deposits grew $6.9 million, or 2.66% annualized. Total loans grew $9.4 million, or 3.84% annualized. Net interest income was $8.4 million. The Company recorded a negative provision for credit losses of $349 thousand. The pending merger with Partners Bancorp received regulatory approvals.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.41%
Tags
-
Rhea-AI Summary
LINKBANCORP and Partners Bancorp receive regulatory approvals for merger
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
LINKBANCORP reports Q2 2023 net income of $1.35 million. Total deposits grew 20.5% annualized. On-balance sheet liquidity increased to $123.2 million. Total loans grew 10.3% annualized. Net interest income was $8.1 million. Negative provision for credit losses of $493 thousand. Merger with Partners Bancorp approved.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.37%
Tags
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.69%
Tags

FAQ

What services does LINKBANCORP, Inc. offer?

LINKBANCORP, Inc. offers a variety of personal and business banking services, including checking and savings accounts, loans, and treasury management services.

When was LINKBANCORP, Inc. founded?

LINKBANCORP, Inc. was founded in 2018.

What was the recent financial performance of LINKBANCORP, Inc.?

LINKBANCORP, Inc. reported net income of $5.73 million for Q1 2024, marking its first full quarter post-merger with Partners Bancorp.

What was the impact of the merger with Partners Bancorp?

The merger added $1.50 billion in assets, $1.24 billion in loans, and $1.30 billion in deposits, significantly expanding LINKBANCORP's footprint and financial position.

What are the key performance indicators for LINKBANCORP, Inc.?

Key performance indicators include a net interest margin of 4.03% and significant growth in commercial loan commitments.

How does LINKBANCORP manage asset quality?

LINKBANCORP employs prudent lending practices and robust risk management strategies, maintaining non-performing assets at just 0.25% of total assets as of March 31, 2024.

Where is LINKBANCORP, Inc. headquartered?

LINKBANCORP, Inc. is headquartered in Camp Hill, Pennsylvania.

What is the mission of LINKBANCORP, Inc.?

LINKBANCORP, Inc. aims to positively impact lives through community banking.

What are the company's recent achievements?

Recent achievements include the successful merger with Partners Bancorp and reporting strong financial results in Q1 2024.

How does LINKBANCORP, Inc. support growth and shareholder value?

LINKBANCORP, Inc. focuses on operational efficiencies, strategic mergers, and expanding its footprint to drive profitable growth and enhance shareholder value.

LINKBANCORP, Inc.

Nasdaq:LNKB

LNKB Rankings

LNKB Stock Data

278.30M
37.36M
33.32%
29.71%
0.07%
Commercial Banking
Finance and Insurance
Link
United States of America
CAMP HILL