Linkbancorp Stock Price, News & Analysis

LINKBANCORP, Inc. (OTC Pink: LNKB) announced a quarterly cash dividend of $0.075 per share for shareholders of record as of August 31, 2022, payable on September 15, 2022. CEO Andrew Samuel emphasized the importance of shareholders in the company's growth and mission to positively impact lives. LINKBANCORP focuses on community banking through its subsidiary, The Gratz Bank, serving Central and Southeastern Pennsylvania.

LINKBANCORP (OTC Pink: LNKB) reported a net income of $1.606 million for Q2 2022, equating to $0.16 per diluted share. Net loans grew by $61.5 million (34% annualized), while noninterest bearing deposits increased by $19.1 million (46% annualized). Total assets rose to $1.060 billion. Net interest income came to $7.85 million, a rise of $376 thousand from the previous quarter. The company maintained a steady net interest margin of 3.38%. Shareholders' equity declined to $104.8 million primarily due to unrealized losses on securities.

LINKBANCORP has appointed Adam Pierce as the new Chief Operations and Technology Officer, effective immediately. With over 25 years of experience in technology and bank operations, Pierce's expertise includes data management and security. He previously held key roles at The Bryn Mawr Trust Company and BB&T Corporation. CEO Andrew Samuel emphasized that Pierce's leadership will enhance the bank's technology strategy and improve client services. LINKBANCORP operates in Pennsylvania and its stock is traded under the symbol LNKB.

LINKBANCORP, Inc. (OTC Pink: LNKB) reported a net income of $1.524 million or $0.15 per diluted share for Q1 2022. The company exceeded $1 billion in total assets, with $29 million in organic loan growth, and a net interest margin of 3.40%. Deposits rose by $90.5 million primarily from brokered deposits. Non-performing assets were low at 0.12% of total assets. There was a decrease in shareholders' equity due to unrealized losses from securities. A private placement of $20 million in notes was completed to strengthen capital.

LINKBANCORP, Inc. (LNKB) has successfully closed a $20 million private placement of Fixed-to-Floating Rate Subordinated Notes due April 15, 2032. The Notes will initially carry a fixed interest rate of 4.50% until April 15, 2027, after which they will transition to a floating rate based on the SOFR plus a spread of 203 basis points. Proceeds from this offering will be largely allocated to The Gratz Bank to bolster capital and support growth. The Notes qualify as Tier 2 capital for regulatory requirements.

LINKBANCORP reported a net income of $788K or $0.08 per diluted share for Q4 2021 and $289K or $0.04 per diluted share for the full year. The results included merger-related expenses totaling $4.6M for 2021. The successful integration with GNB Financial Services boosted net interest income by 141% year-over-year. Total assets decreased to $932.8M from $979.2M, while deposits fell primarily due to maturing brokered deposits. Shareholders' equity grew to $109.7M, driven mainly by the merger.

LINKBANK has appointed Zak Tyminski as Regional President for the York and Lancaster markets, promoting him from his previous role as York Regional President, where he served since September 2021. With over 23 years of industry experience, including 14 years in commercial banking, Tyminski is expected to drive growth initiatives in these regions. His leadership aligns with LINKBANK's mission to positively impact lives through community banking. The company is a division of The Gratz Bank, and its stock trades under the symbol 'LNKB' on the OTC Pink market.

LINKBANCORP, Inc. (OTC Pink: LNKB) has declared its first quarterly cash dividend of $0.075 per share, payable on December 15, 2021, to shareholders of record on November 30, 2021. This announcement follows the company's merger with GNB Financial Services, completed on September 18, 2021, resulting in total assets of $979.3 million. CEO Andrew Samuel emphasized the dividend's importance in enhancing shareholder value and supporting growth.