Partners Bancorp Stock Price, News & Analysis

Partners Bancorp (NASDAQ: PTRS) operates as the holding company for The Bank of Delmarva and Virginia Partners Bank, providing a wide array of financial services to individual and corporate clients within the United States. These services include time deposits, checking and savings accounts, money market accounts, cash management services, and Individual Retirement Accounts (IRAs). Additionally, the company offers advanced banking solutions such as remote deposit capture and mobile deposit services.

Partners Bancorp's lending portfolio encompasses a variety of loan products, including commercial real estate loans, small business administration (SBA) loans, term loans, business credit cards, as well as loans for mobile homes, boats, RVs, motorcycles, and automobiles. The company also offers mortgage-related products like purchase and refinance mortgage loans, bridge loans, equipment loans, and home equity loans. Furthermore, it provides construction and permanent mortgage loans, lot loans, and U.S. Department of Agriculture (USDA) loans.

In addition to its extensive loan and deposit services, Partners Bancorp provides a comprehensive range of online and mobile banking services, including internet banking, online bill payments, phone banking, merchant services, ATM/debit card services, and cash advance services. The company operates 14 branches, strategically located to serve its customer base effectively.

Founded in 1896, The Bank of Delmarva, a subsidiary of Partners Bancorp, operates eleven branches in Maryland and Delaware, alongside three branches in the South Jersey/Philadelphia metro market under the name Liberty Bell Bank. Virginia Partners Bank, established in 2008 and headquartered in Fredericksburg, Virginia, has three branches in Fredericksburg and additional branches and commercial offices in Reston, La Plata, and Annapolis, Maryland. Virginia Partners Bank also holds a controlling interest in Johnson Mortgage Company, LLC, a residential mortgage company based in Newport News, Virginia.

Recently, Partners Bancorp announced a significant merger with LINKBANCORP, Inc. (NASDAQ: LNKB), a transaction that has received regulatory approval and is expected to close on November 30, 2023. Post-merger, Partners Bancorp will merge into LINKBANCORP, creating a stronger entity aimed at delivering enhanced financial services across a broader geographical footprint. This merger represents a strategic move to leverage synergies, improve operational efficiencies, and expand the customer base collectively served by both organizations.