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