LINKBANCORP, INC. Announces Receipt of Regulatory Approvals for New Jersey Branch Sale
LINKBANCORP (NASDAQ: LNKB) has secured all regulatory approvals for the sale of its New Jersey operations to American Heritage Federal Credit Union. The transaction, set to close on March 31, 2025, includes three branches along with their associated loans, deposits, and fixed assets. These assets were originally acquired through LINK's merger with Partners Bancorp in November 2023.
The sale to the Philadelphia-headquartered credit union remains subject to customary closing conditions. This move represents a strategic divestment of assets acquired during LINK's recent expansion.
LINKBANCORP (NASDAQ: LNKB) ha ottenuto tutte le approvazioni regolatorie per la vendita delle sue operazioni nel New Jersey all'American Heritage Federal Credit Union. La transazione, prevista per chiudere il 31 marzo 2025, include tre filiali insieme ai relativi prestiti, depositi e beni fissi. Questi beni sono stati originariamente acquisiti attraverso la fusione di LINK con Partners Bancorp nel novembre 2023.
La vendita alla credit union con sede a Filadelfia è soggetta a condizioni di chiusura consuete. Questa mossa rappresenta un disinvestimento strategico di beni acquisiti durante la recente espansione di LINK.
LINKBANCORP (NASDAQ: LNKB) ha obtenido todas las aprobaciones regulatorias para la venta de sus operaciones en Nueva Jersey a American Heritage Federal Credit Union. La transacción, que se cerrará el 31 de marzo de 2025, incluye tres sucursales junto con sus préstamos, depósitos y activos fijos asociados. Estos activos fueron adquiridos originalmente a través de la fusión de LINK con Partners Bancorp en noviembre de 2023.
La venta a la cooperativa de crédito con sede en Filadelfia está sujeta a condiciones de cierre habituales. Este movimiento representa una desinversión estratégica de activos adquiridos durante la reciente expansión de LINK.
LINKBANCORP (NASDAQ: LNKB)는 American Heritage Federal Credit Union에 뉴저지 운영 매각을 위한 모든 규제 승인을 확보했습니다. 이 거래는 2025년 3월 31일에 종료될 예정이며, 세 개의 지점과 관련된 대출, 예금 및 고정 자산이 포함됩니다. 이러한 자산은 2023년 11월 LINK와 Partners Bancorp의 합병을 통해 원래 인수되었습니다.
필라델피아 본사의 신용 조합에 대한 매각은 일반적인 종료 조건에 따라 진행됩니다. 이 움직임은 LINK의 최근 확장 동안 인수한 자산의 전략적 매각을 나타냅니다.
LINKBANCORP (NASDAQ: LNKB) a obtenu toutes les approbations réglementaires pour la vente de ses opérations du New Jersey à l'American Heritage Federal Credit Union. La transaction, prévue pour se clôturer le 31 mars 2025, comprend trois agences ainsi que leurs prêts, dépôts et actifs fixes associés. Ces actifs ont été initialement acquis lors de la fusion de LINK avec Partners Bancorp en novembre 2023.
La vente à la coopérative de crédit basée à Philadelphie est soumise aux conditions de clôture habituelles. Ce mouvement représente un désinvestissement stratégique d'actifs acquis lors de la récente expansion de LINK.
LINKBANCORP (NASDAQ: LNKB) hat alle regulatorischen Genehmigungen für den Verkauf seiner New Jersey-Betriebe an die American Heritage Federal Credit Union erhalten. Die Transaktion, die am 31. März 2025 abgeschlossen werden soll, umfasst drei Filialen sowie die zugehörigen Kredite, Einlagen und Sachanlagen. Diese Vermögenswerte wurden ursprünglich durch die Fusion von LINK mit Partners Bancorp im November 2023 erworben.
Der Verkauf an die in Philadelphia ansässige Kreditgenossenschaft unterliegt den üblichen Abschlussbedingungen. Dieser Schritt stellt eine strategische Veräußertung von Vermögenswerten dar, die während der jüngsten Expansion von LINK erworben wurden.
- Received all regulatory approvals for strategic divestment
- Sale includes complete package of branches, loans, deposits, and fixed assets
- Reduction in operational footprint and market presence through branch divestiture
The transaction, which is anticipated to close on March 31, 2025, is subject to the fulfillment of customary closing conditions. This strategic sale includes three of the Company's branches, along with the associated loans, deposits and fixed assets, acquired as part of the Company's merger with Partners Bancorp in November, 2023.
ABOUT LINKBANCORP, Inc.
LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, LINKBANK, is a
LINKBANCORP, Inc. Contact
Nick West
Director, Corporate Development
631-905-9857
nwest@linkbank.com
Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties associated with newly developed or acquired operations; risks related to the integration of the merger with Partners; changes in general economic trends, including inflation and changes in interest rates; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; adverse developments in borrower industries and, in particular, declines in real estate values; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and the effects of any cybersecurity breaches. The Company does not undertake, and specifically disclaims, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.
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SOURCE LINKBANCORP, Inc.
FAQ
When will LINKBANCORP (LNKB) complete the sale of its New Jersey branches?
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When did LINKBANCORP (LNKB) acquire these New Jersey operations?
