Partners Bancorp Stock Price, News & Analysis

Partners Bancorp (NASDAQ: PTRS) reported a strong financial performance for Q4 and FY 2022, showcasing a net income of $4.2 million ($0.23 per share) for Q4, up 187.9% YoY, and $13.6 million ($0.76 per share) for the full year, representing an 83.7% increase. The company announced a definitive merger agreement with LINKBANCORP, which will see PTRS shareholders owning approximately 56% of the combined entity. Key performance indicators included a net interest income rise of 37.8% in Q4, along with a higher net interest margin of 4.15%. However, the company noted increased provisions for credit losses and lower other income, particularly from its mortgage division.

LINKBANCORP (NASDAQ: LNKB) and Partners Bancorp (NASDAQ: PTRS) announced a definitive agreement for an all-stock merger valued at approximately $167.8 million. Under the agreement, Partners shareholders will receive 1.15 shares of LINK for each share they hold. Post-merger, Partners shareholders will own about 56% of the combined entity, which will have nearly $3 billion in assets. The merger is expected to close in Q3 2023, subject to regulatory and shareholder approvals. The combined company aims to enhance service capability and operational scale while achieving significant financial benefits, including EPS accretion for both sets of shareholders.

LINKBANCORP, Inc. and Partners Bancorp have announced a definitive merger agreement valued at approximately $167.8 million, combining their assets to create a leading Mid-Atlantic community bank with nearly $3 billion in assets. The all-stock transaction allows Partners' shareholders to receive 1.15 shares of LINK for each share they own. Post-merger, Partners will own approximately 56% and LINK will have 44% of the combined entity. Expected to close in Q3 2023, the merger aims to enhance profitability and operational scale while maintaining a regional-focused business model.