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LINKBANCORP, Inc. Announces Record First Quarter 2025 Earnings and Declares Dividend

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LINKBANCORP reported strong Q1 2025 performance with record net income of $15.3 million ($0.41 per diluted share), up from $7.6 million in Q4 2024. Key highlights include:

  • Successful sale of New Jersey operations, resulting in $8.7 million after-tax gain
  • Net interest margin expanded to 3.94% from 3.85% in Q4 2024
  • Total deposits reached $2.43 billion, with 11.01% annualized growth after adjusting for branch sale
  • Tangible book value per share increased 8.2% to $5.80
  • Strong liquidity position with cash and equivalents up to $220.2 million

The bank maintains robust capital ratios, with Total Capital Ratio at 12.61% and Tier 1 Capital Ratio at 11.71%. The Board declared a quarterly cash dividend of $0.075 per share, payable June 16, 2025. Asset quality metrics show non-performing assets at 0.91% of total assets, with a loan loss allowance coverage ratio of 102.22%.

LINKBANCORP ha riportato una solida performance nel primo trimestre 2025 con un utile netto record di 15,3 milioni di dollari (0,41 dollari per azione diluita), in aumento rispetto ai 7,6 milioni di dollari del quarto trimestre 2024. I principali risultati includono:

  • Vendita riuscita delle operazioni nel New Jersey, con un guadagno netto dopo le tasse di 8,7 milioni di dollari
  • Margine di interesse netto aumentato al 3,94% dal 3,85% del quarto trimestre 2024
  • Depositi totali raggiungono 2,43 miliardi di dollari, con una crescita annualizzata dell'11,01% al netto della vendita delle filiali
  • Valore contabile tangibile per azione aumentato dell'8,2% a 5,80 dollari
  • Posizione di liquidità solida con disponibilità liquide e equivalenti salite a 220,2 milioni di dollari

La banca mantiene robusti coefficienti patrimoniali, con un rapporto di capitale totale al 12,61% e un rapporto di capitale Tier 1 all'11,71%. Il Consiglio di Amministrazione ha dichiarato un dividendo trimestrale in contanti di 0,075 dollari per azione, pagabile il 16 giugno 2025. Gli indicatori di qualità degli attivi mostrano attività non performanti allo 0,91% del totale degli attivi, con un rapporto di copertura delle perdite su crediti del 102,22%.

LINKBANCORP reportó un sólido desempeño en el primer trimestre de 2025 con un ingreso neto récord de 15,3 millones de dólares (0,41 dólares por acción diluida), aumentando desde 7,6 millones en el cuarto trimestre de 2024. Los puntos clave incluyen:

  • Venta exitosa de operaciones en Nueva Jersey, resultando en una ganancia neta después de impuestos de 8,7 millones de dólares
  • Margen de interés neto expandido a 3,94% desde 3,85% en el cuarto trimestre de 2024
  • Depósitos totales alcanzaron 2,43 mil millones de dólares, con un crecimiento anualizado del 11,01% ajustado por la venta de sucursales
  • Valor contable tangible por acción aumentó un 8,2% a 5,80 dólares
  • Posición de liquidez sólida con efectivo y equivalentes aumentando a 220,2 millones de dólares

El banco mantiene ratios de capital robustos, con un ratio de capital total del 12,61% y un ratio de capital Tier 1 del 11,71%. La Junta declaró un dividendo trimestral en efectivo de 0,075 dólares por acción, pagadero el 16 de junio de 2025. Los indicadores de calidad de activos muestran activos no productivos en 0,91% del total de activos, con una cobertura de provisiones para pérdidas de préstamos del 102,22%.

LINKBANCORP는 2025년 1분기에 기록적인 순이익 1,530만 달러(희석 주당 0.41달러)를 보고하며 강력한 실적을 보였습니다. 이는 2024년 4분기의 760만 달러에서 증가한 수치입니다. 주요 내용은 다음과 같습니다:

  • 뉴저지 사업부 매각 성공으로 세후 870만 달러 이익 실현
  • 순이자마진이 2024년 4분기 3.85%에서 3.94%로 확대
  • 총 예금액이 24억 3천만 달러에 도달, 지점 매각 조정 후 연환산 성장률 11.01%
  • 주당 유형자산 장부가치가 8.2% 상승하여 5.80달러 기록
  • 현금 및 현금성 자산이 2억 2,020만 달러로 증가하며 강력한 유동성 유지

은행은 총자본비율 12.61% 및 1등급 자본비율 11.71%로 견고한 자본 상태를 유지하고 있습니다. 이사회는 2025년 6월 16일 지급 예정인 주당 0.075달러의 분기 현금 배당금을 선언했습니다. 자산 건전성 지표는 총자산 대비 부실자산 비율이 0.91%이며, 대손충당금 커버리지 비율은 102.22%입니다.

LINKBANCORP a annoncé une solide performance au premier trimestre 2025 avec un bénéfice net record de 15,3 millions de dollars (0,41 dollar par action diluée), en hausse par rapport à 7,6 millions de dollars au quatrième trimestre 2024. Les points clés incluent :

  • Vente réussie des opérations dans le New Jersey, générant un gain après impôts de 8,7 millions de dollars
  • La marge nette d'intérêt est passée de 3,85 % au quatrième trimestre 2024 à 3,94 %
  • Les dépôts totaux ont atteint 2,43 milliards de dollars, avec une croissance annualisée de 11,01 % ajustée pour la vente de succursales
  • La valeur comptable tangible par action a augmenté de 8,2 % pour atteindre 5,80 dollars
  • Position de liquidité solide avec des liquidités et équivalents en hausse à 220,2 millions de dollars

La banque maintient des ratios de capital robustes, avec un ratio de capital total de 12,61 % et un ratio de capital de niveau 1 de 11,71 %. Le conseil d'administration a déclaré un dividende trimestriel en espèces de 0,075 dollar par action, payable le 16 juin 2025. Les indicateurs de qualité des actifs montrent des actifs non performants à 0,91 % du total des actifs, avec un ratio de couverture des pertes sur prêts de 102,22 %.

LINKBANCORP meldete eine starke Performance im ersten Quartal 2025 mit einem Rekord-Nettoeinkommen von 15,3 Millionen US-Dollar (0,41 US-Dollar pro verwässerter Aktie), gegenüber 7,6 Millionen US-Dollar im vierten Quartal 2024. Die wichtigsten Highlights sind:

  • Erfolgreicher Verkauf der New Jersey-Geschäfte, was zu einem steuerbereinigten Gewinn von 8,7 Millionen US-Dollar führte
  • Nettozinsmarge stieg von 3,85 % im vierten Quartal 2024 auf 3,94 %
  • Gesamteinlagen erreichten 2,43 Milliarden US-Dollar mit einem annualisierten Wachstum von 11,01 % nach Bereinigung um den Filialverkauf
  • Der materielle Buchwert je Aktie stieg um 8,2 % auf 5,80 US-Dollar
  • Starke Liquiditätsposition mit liquiden Mitteln und Äquivalenten in Höhe von 220,2 Millionen US-Dollar

Die Bank hält robuste Kapitalquoten mit einer Gesamtkapitalquote von 12,61 % und einer Kernkapitalquote von 11,71 %. Der Vorstand erklärte eine vierteljährliche Bardividende von 0,075 US-Dollar je Aktie, zahlbar am 16. Juni 2025. Die Vermögensqualität zeigt notleidende Aktiva in Höhe von 0,91 % der Gesamtaktiva sowie eine Deckungsquote der Kreditrisikovorsorge von 102,22 %.

Positive
  • Record net income of $15.3M in Q1 2025, up from $7.6M in Q4 2024
  • Successful sale of NJ operations with $8.7M after-tax gain
  • Net interest margin expanded to 3.94% from 3.85% quarter-over-quarter
  • Tangible book value per share increased 8.2% to $5.80
  • Core deposits grew 11.01% annualized (adjusted for Branch Sale)
  • Strong liquidity position with cash/equivalents up $54.1M to $220.2M
  • Quarterly cash dividend of $0.075 per share declared
Negative
  • Non-performing assets increased to 0.91% of total assets vs 0.60% in previous quarter
  • Loans 30-89 days past due increased to 0.56% vs 0.13% in previous quarter
  • Two problematic real estate loans totaling $8.8M impacting asset quality
  • Decline in service charges on deposits and interchange revenue
  • Noninterest expense increased to $19.7M from $18.3M quarter-over-quarter

Insights

LINKBANCORP posts record profits from NJ branch sale while maintaining stable core earnings; asset quality shows some deterioration amid strengthened capital position.

LINKBANCORP delivered record Q1 2025 earnings of $15.3 million ($0.41 per diluted share), significantly higher than Q4 2024's $7.6 million. However, this impressive 101% quarterly increase stems primarily from the New Jersey branch sale which generated an $8.7 million after-tax gain. When excluding this transaction and other non-recurring items, adjusted earnings were $7.4 million ($0.20 per share), showing relative stability in core operations.

The completed branch sale involved divesting three locations, $87 million in deposits (sold at a 7% premium), and $105 million in loans (sold at par). This transaction has significantly strengthened the bank's financial foundation, with tangible book value per share increasing 8.2% to $5.80 and the Tangible Common Equity to Tangible Assets ratio improving to 7.78% from 7.16%.

Net interest margin expanded to 3.94% from 3.85% in Q4, driven by increased purchase accounting accretion, higher loan yields, and a 5 basis point decrease in deposit costs. This margin expansion occurred while the bank built substantial liquidity, with cash equivalents increasing 32.6% to $220.2 million.

One cautionary signal appears in asset quality metrics, with non-performing assets increasing to 0.91% of total assets (from 0.60% in Q4), and delinquent loans (30-89 days) increasing to 0.56% of total loans (from 0.13%). Management attributes this primarily to two properly margined first-lien secured real estate loans totaling $8.8 million.

The $0.075 quarterly dividend declaration and CEO Andrew Samuel's statement about the bank's "strengthened liquidity and capital positions" suggest confidence in the bank's trajectory despite the asset quality concerns.

HARRISBURG, Pa., April 28, 2025 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank"), reported record net income of $15.3 million, or $0.41 per diluted share, for the quarter ended March 31, 2025, compared to net income of $7.6 million, or $0.20 per diluted share, for the quarter ended December 31, 2024.  Excluding income and expenses associated with the sale of the Bank's New Jersey operations and expenses related to the reduction of the size of the Board of Directors, adjusted earnings were $7.4 million1, or $0.201 per diluted share for the first quarter of 2025, compared with $7.6 million1, or $0.211 per diluted share for the fourth quarter of 2024.

Additionally, the Company announced that the Board of Directors declared a quarterly cash dividend of $0.075 per share of common stock which is expected to be paid on June 16, 2025 to shareholders of record on May 30, 2025.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP measure.

First Quarter 2025 Highlights

  • Successful Branch Sale. On March 31, 2025, the Bank successfully completed the sale of its banking operations and branches in New Jersey, including related loans and deposits (the "Branch Sale"). The transaction involved the transfer of three branch locations, $87 million of deposits, and $105 million in loans. Under the terms of the purchase and assumption agreement, deposits were sold at a 7% premium and loans were sold at par, resulting in an after-tax gain, net of transaction costs, of $8.7 million.
  • Consistent strength in core earnings. Annualized return on average assets was 2.19% for the first quarter of 2025, compared to 1.06% for the fourth quarter of 2024 and 0.86% for the first quarter of 2024. Adjusted return on average assets was 1.05%1 for the first quarter of 2025, compared to 1.07%1 for the fourth quarter of 2024 and 0.86%1 for the first quarter of 2024.
  • Net interest margin expands to 3.94%. Net interest margin expanded to 3.94% for the first quarter of 2025 from 3.85% for the fourth quarter of 2024. Net interest margin was impacted by increased purchase accounting accretion, an increase in loan yields and a decrease in cost of funds.
  • Greater than 8% growth in tangible book value per share. The Company's book value per share increased to $7.87 at March 31, 2025 from $7.50 at December 31, 2024. Tangible book value per share increased $0.44, or 8.2%, from $5.361 at December 31, 2024 to $5.801 at March 31, 2025. The Company's ratio of Tangible Common Equity to Tangible Assets was 7.78%1 at March 31, 2025, compared to 7.16%1 at December 31, 2024 and 6.91%1 at March 31, 2024.
  • Significant increase in core deposits supports balance sheet growth. Total deposits at March 31, 2025 were $2.43 billion compared to $2.45 billion at December 31, 2024, representing an increase of $66.6 million, or 11.01% annualized after adjusting for the Branch Sale2. Total loans at March 31, 2025 were $2.27 billion, compared to $2.35 billion at December 31, 2024, representing an increase of $24.0 million or 4.10% after adjusting for the Branch Sale2.
  • Continued strength in on-balance sheet liquidity. Cash and cash equivalents increased $54.1 million from $166.1 million at December 31, 2024 to $220.2 million at March 31, 2025, further bolstering the Company's strong liquidity position.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP measure.

2 See Loan and Deposit Tables for Branch Sale Reconciliation

"We are very pleased to present consistent core earnings in addition to the successful sale of our New Jersey operations," said Andrew Samuel, Chief Executive Officer of LINKBANCORP. "Strong core deposit growth and the gain from the New Jersey sale has well positioned our teams to support our loan pipeline headed into the second quarter. Our strengthened liquidity and capital positions provide the foundation for continued growth, with an emphasis on creating long term shareholder value as we positively impact our local communities."

Income Statement
Net interest income before the provision for credit losses for the first quarter of 2025 was $25.8 million compared to $25.5 million in the fourth quarter of 2024 and $24.9 million for the first quarter of 2024. Net interest margin expanded to 3.94% for the first quarter of 2025 compared to 3.85% for the fourth quarter of 2024.  The improvement in net interest margin was driven by a 5 basis points increase in average yield on interest earning assets from 6.09% for the fourth quarter of 2024 compared to 6.14% for the first quarter of 2025. This increase included an increase in purchase accounting accretion while core loan yields increased marginally quarter-over-quarter. In addition, the total cost of funds declined 3 basis points from 2.32% for the fourth quarter of 2024 to 2.29% for the first quarter of 2025, driven by a 5 basis points decrease in the average cost of deposits from 2.15% for the fourth quarter of 2024 to 2.10% for the first quarter of 2025, partially offset by an increase in wholesale funding costs.

Noninterest income increased quarter-over-quarter to $13.3 million for the first quarter of 2025 compared to $2.6 million for the fourth quarter of 2024 due to the $11.1 million pre-tax gain from the Branch Sale, offset by a decline in service charges on deposits mostly attributable to a decrease in account level fees and interchange revenue.

Noninterest expense for the first quarter of 2025 was $19.7 million compared to $18.3 million for the fourth quarter of 2024 and $19.3 million for the first quarter of 2024.  Excluding non-core operating costs totaling $912 thousand in the first quarter of 2025, $56 thousand in the fourth quarter of 2024 and $56 thousand in the first quarter of 2024, adjusted noninterest expense increased $541 thousand1 from $18.2 million1 for the fourth quarter of 2024 to $18.7 million1 for the first quarter of 2025 while decreasing $407 thousand1 year-over-year from $19.2 million1 for the first quarter of 2024. Adjusted non-interest expense for the first quarter of 2025 excludes expenses related to the reduction of the size of the Board of Directors included in other noninterest expense, as well as bonus accruals related to completion of the Branch Sale included in salaries and employee benefits expense, and other merger and restructuring costs.   

Income tax expense was $3.9 million for the first quarter of 2025, reflecting an effective tax rate of 20.1% compared to $2.1 million for the fourth quarter of 2024, reflecting an effective rate of 21.9% and $1.6 million for the first quarter of 2024, reflecting an effective tax rate of 21.8%, respectively. The tax rate decreased quarter-over-quarter due to a state income tax apportionment adjustment.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP measure.

Balance Sheet
Total assets were $2.86 billion at March 31, 2025 compared to $2.88 billion at December 31, 2024 and $2.79 billion at March 31, 2024.  Deposits and net loans as of March 31, 2025 totaled $2.43 billion and $2.25 billion, respectively, compared to deposits and net loans of $2.36 billion and $2.23 billion, respectively, at December 31, 2024 and $2.28 billion and $2.11 billion, respectively, at March 31, 2024.  Deposits and net loans exclude recorded balances held for sale in the Branch Sale of $93.6 million and $91.8 million, respectively, at December 31, 2024, which are reflected in liabilities held for sale and assets held for sale.  These balances were $105.6 million and $115.9 million respectively, at March 31, 2024.

Total loans at March 31, 2025 were $2.27 billion, compared to $2.35 billion at December 31, 2024, representing an increase of $24.0 million after adjusting for the Branch Sale2.Total commercial loan commitments originated in the first quarter of 2025 were $98.5 million with funded balances of $72.0 million. The average commercial loan commitment originated during the first quarter of 2025 totaled approximately $788 thousand with an average outstanding funded balance of $576 thousand.

Total deposits at March 31, 2025 were $2.43 billion compared to $2.45 billion at December 31, 2024, representing an increase of $66.6 million after adjusting for the Branch Sale2. Average total deposits, including deposits held for sale, increased $5.3 million to $2.38 billion for the quarter ended March 31, 2025 compared to the quarter ended December 31, 2024. Noninterest bearing deposits totaled $646.0 million at March 31, 2025, representing 26.5% of total deposits.

The Company continues to maintain strong on-balance sheet liquidity, as cash and cash equivalents increased 32.6% to $220.2 million at March 31, 2025 compared to $166.1 million at December 31, 2024.

Shareholders' equity increased from $280.2 million at December 31, 2024 to $294.1 million at March 31, 2025 primarily as a result of a $12.6 million increase in retained earnings.  Book value per share increased to $7.87 at March 31, 2025 compared to $7.50 at December 31, 2024.  Tangible book value per share increased to $5.801  at March 31, 2025 compared to $5.361  at December 31, 2024 and $5.001 at March 31, 2024, representing 16% growth year over year.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP measure.

2 See Loan and Deposit Tables for Branch Sale Reconciliation

Asset Quality
The Company recorded a $228 thousand provision for credit losses during the first quarter of 2025, after recording a $132 thousand provision for credit losses in the fourth quarter of 2024.  

As of March 31, 2025, the Company's non-performing assets were $26.0 million, representing 0.91% of total assets, compared to $17.2 million, representing 0.60% of total assets at December 31, 2024.

Loans 30-89 days past due at March 31, 2025 were $12.7 million, representing 0.56% of total loans compared to $2.9 million or 0.13% of total loans at December 31, 2024 and $15.3 million or 0.68% of total loans at March 31, 2024.

The current increase in non-performing assets and delinquencies primarily relate to two properly margined first lien secured real estate loans with an aggregate principal balance of approximately $8.8 million at March 31, 2025.

The allowance for credit losses-loans was $26.6 million, or 1.17% of total loans held for investment at March 31, 2025, compared to $26.4 million, or 1.17% of total loans held for investment at December 31, 2024.  The allowance for credit losses-loans to nonperforming assets ratio was 102.22% at March 31, 2025, compared to 153.93% at December 31, 2024.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP measure.

Capital
The Bank's regulatory capital ratios were well in excess of regulatory minimums to be considered "well capitalized" as of March 31, 2025. The Bank's Total Capital Ratio and Tier 1 Capital Ratio were 12.61% and 11.71% respectively, at March 31, 2025, compared to 11.55% and 10.74%, respectively, at December 31, 2024 and 11.04% and 10.24%, respectively, at March 31, 2024. The Company's ratio of Tangible Common Equity to Tangible Assets was 7.78%1 at March 31, 2025 compared to 7.16%1 at December 31, 2024.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP measure.

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 Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Pennsylvania, Maryland, Delaware and Virginia, through 24 client solutions centers and www.linkbank.com. LINKBANCORP, Inc. common stock is traded on the Nasdaq Capital Market under the symbol "LNKB". For further company information, visit ir.linkbancorp.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; changes in general economic trends, including inflation, tariffs 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. 

LB-E
LB-D

LINKBANCORP, Inc. and Subsidiaries

Consolidated Balance Sheet (Unaudited)

























March 31, 2025


December 31, 2024


September 30, 2024


June 30, 2024


March 31, 2024

(In Thousands, except share and per share data)











ASSETS











Noninterest-bearing cash equivalents


$          14,830


$                     13,834


$              15,295


$        14,516


$             13,552

Interest-bearing deposits with other institutions


205,352


152,266


175,937


167,141


158,731

Cash and cash equivalents


220,182


166,100


191,232


181,657


172,283

Securities available for sale, at fair value


159,183


145,590


149,315


140,121


133,949

Securities held to maturity, net of allowance for credit losses


27,662


31,508


34,155


35,343


36,109

Loans receivable, gross


2,273,941


2,255,749


2,215,868


2,193,197


2,129,919

Allowance for credit losses - loans


(26,619)


(26,435)


(26,542)


(26,288)


(23,842)

Loans receivable, net


2,247,322


2,229,314


2,189,326


2,166,909


2,106,077

Investments in restricted bank stock


4,780


5,209


4,904


4,928


4,286

Premises and equipment, net


17,920


18,029


17,623


18,364


20,102

Right-of-Use Asset – premises


14,537


14,913


14,150


13,970


14,577

Bank-owned life insurance


52,507


52,079


51,646


49,616


49,230

Goodwill and other intangible assets


77,379


79,761


80,924


82,129


81,494

Deferred tax asset


18,636


18,866


21,662


22,024


22,717

Assets held for sale


—


94,146


104,660


118,362


118,115

Accrued interest receivable and other assets


23,288


23,263


20,344


25,170


26,730

TOTAL ASSETS


$     2,863,396


$                2,878,778


$         2,879,941


$   2,858,593


$        2,785,669

LIABILITIES











Deposits:











Demand, noninterest bearing


$        646,002


$                   658,646


$            658,473


$      661,292


$           618,277

Interest bearing


1,787,692


1,701,936


1,714,179


1,699,220


1,662,124

Total deposits


2,433,694


2,360,582


2,372,652


2,360,512


2,280,401

Long-term borrowings


40,000


40,000


40,000


40,000


40,000

Short-term borrowings


—


10,000


—


—


—

Note payable


559


565


572


578


584

Subordinated debt


62,129


61,984


61,843


61,706


61,573

Lease liabilities


15,284


15,666


14,911


14,746


15,357

Liabilities held for sale


—


93,777


94,228


96,916


105,716

Accrued interest payable and other liabilities


17,664


15,983


18,382


12,726


13,795

TOTAL LIABILITIES


2,569,330


2,598,557


2,602,588


2,587,184


2,517,426

SHAREHOLDERS' EQUITY











Preferred stock


—


—


—


—


—

Common stock


370


370


370


370


369

Surplus


264,871


264,449


264,059


263,795


263,577

Retained earnings


32,507


19,947


15,147


10,826


7,724

Accumulated other comprehensive loss


(3,682)


(4,545)


(2,223)


(3,582)


(3,427)

TOTAL SHAREHOLDERS' EQUITY


294,066


280,221


277,353


271,409


268,243

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY


$     2,863,396


$                2,878,778


$         2,879,941


$   2,858,593


$        2,785,669

Common shares outstanding


37,377,342


37,370,917


37,361,560


37,356,278


37,348,151

 

LINKBANCORP, Inc. and Subsidiaries

Consolidated Statements of Operations (Unaudited)



















Three Months Ended



3/31/2025


12/31/2024


3/31/2024


(In Thousands, except share and per share data)








INTEREST AND DIVIDEND INCOME








Loans receivable, including fees


$          37,041


$         37,082


$           36,125


Other


3,101


3,224


2,650


Total interest and dividend income


40,142


40,306


38,775


INTEREST EXPENSE








Deposits


12,357


12,823


11,847


Other Borrowings


986


962


1,152


Subordinated Debt


968


976


892


Total interest expense


14,311


14,761


13,891


NET INTEREST INCOME BEFORE
   PROVISION FOR CREDIT LOSSES


25,831


25,545


24,884


Provision for credit losses


228


132


40


NET INTEREST INCOME AFTER
   PROVISION FOR CREDIT LOSSES


25,603


25,413


24,844


NONINTEREST INCOME








Service charges on deposit accounts


1,061


1,339


780


Bank-owned life insurance


428


433


383


Gain on sale of loans


77


70


50


Gain on sale of branches


11,093


—


—


Other


598


752


516


Total noninterest income


13,257


2,594


1,729


NONINTEREST EXPENSE








Salaries and employee benefits


11,156


10,147


11,118


Occupancy


1,464


1,368


1,578


Equipment and data processing


2,043


1,884


1,826


Professional fees


487


531


748


FDIC insurance and supervisory fees


599


687


352


Bank Shares Tax


614


693


591


Intangible amortization


1,084


1,162


1,207


Merger & restructuring expenses


41


56


56


Advertising


144


128


234


Other


2,026


1,646


1,540


Total noninterest expense


19,658


18,302


19,250


Income before income tax expense


19,202


9,705


7,323


Income tax expense


3,859


2,121


1,597


NET  INCOME


$          15,343


$           7,584


$             5,726










EARNINGS PER SHARE, BASIC


$              0.41


$             0.20


$               0.15


 EARNINGS PER SHARE, DILUTED


$              0.41


$             0.20


$               0.15


WEIGHTED-AVERAGE COMMON SHARES
   OUTSTANDING,








BASIC


37,105,480


37,045,701


36,962,005


DILUTED


37,221,939


37,166,107


37,045,230


 

LINKBANCORP, Inc. and Subsidiaries

Financial Highlights (Unaudited)












For the Three Months Ended



(Dollars In Thousands, except per share data)

3/31/2025


12/31/2024


3/31/2024





Operating Highlights










Net Income

$           15,343


$           7,584


$                 5,726





Net Interest Income

25,831


25,545


24,884





Provision for Credit Losses

228


132


40





Non-Interest Income

13,257


2,594


1,729





Non-Interest Expense

19,658


18,302


19,250





Earnings per Share, Basic

0.41


0.20


0.15





Adjusted Earnings per Share, Basic (2)

0.20


0.21


0.16





Earnings per Share, Diluted

0.41


0.20


0.15





Adjusted Earnings per Share, Diluted (2)

0.20


0.21


0.16















Selected Operating Ratios










Net Interest Margin

3.94 %


3.85 %


4.03 %





Annualized Return on Assets ("ROA")

2.19 %


1.06 %


0.86 %





Adjusted ROA2

1.05 %


1.07 %


0.86 %





Annualized Return on Equity ("ROE")

21.90 %


10.82 %


8.63 %





Adjusted ROE2

10.56 %


10.88 %


8.70 %





Efficiency Ratio

50.29 %


65.04 %


72.33 %





Adjusted Efficiency Ratio3

66.96 %


64.84 %


72.12 %





Noninterest Income to Avg. Assets

1.89 %


0.36 %


0.26 %





Noninterest Expense to Avg. Assets

2.80 %


2.56 %


2.88 %


























3/31/2025


12/31/2024


9/30/2024


6/30/2024


3/31/2024

Financial Condition Data










Total Assets

$      2,863,396


$     2,878,778


$           2,879,941


$         2,858,593


$       2,785,669

Loans Receivable, Net

2,247,322


2,229,314


2,189,326


2,166,909


2,106,077











     Noninterest-bearing Deposits

646,002


658,646


658,473


661,292


618,277

     Interest-bearing Deposits

1,787,692


1,701,936


1,714,179


1,699,220


1,662,124

Total Deposits

$      2,433,694


$     2,360,582


$           2,372,652


$         2,360,512


$       2,280,401











Selected Balance Sheet Ratios










Total Capital Ratio1

12.61 %


11.55 %


11.44 %


11.09 %


11.04 %

Tier 1 Capital Ratio1

11.71 %


10.74 %


10.62 %


10.30 %


10.24 %

Common Equity Tier 1 Capital Ratio1

11.71 %


10.74 %


10.62 %


10.30 %


10.24 %

Leverage Ratio1

10.02 %


9.49 %


9.41 %


9.17 %


9.23 %

Tangible Common Equity to Tangible Assets4

7.78 %


7.16 %


7.02 %


6.82 %


6.91 %

Tangible Book Value per Share5

$              5.80


$             5.36


$                   5.26


$                 5.07


$               5.00











Asset Quality Data










Non-performing Assets

$           26,041


$         17,173


$               17,378


$              10,589


$             6,675

Non-performing Assets to Total Assets

0.91 %


0.60 %


0.60 %


0.37 %


0.24 %

Non-performing Loans to Total Loans

1.15 %


0.76 %


0.78 %


0.48 %


0.31 %

Allowance for Credit Losses - Loans ("ACLL")

$           26,619


$         26,435


$               26,542


$              26,288


$           23,842

ACLL to Total Loans

1.17 %


1.17 %


1.20 %


1.20 %


1.06 %

ACLL to Nonperforming Assets

102.22 %


153.93 %


152.73 %


248.26 %


357.18 %

Net chargeoffs (recoveries)

$                 81


$              252


$                    (28)


$                   (20)


$                  70


(1) - These capital ratios have been calculated using bank-level capital

(2) - This is a non-GAAP financial measure. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

(3) - The efficiency ratio, as adjusted represents noninterest expense divided by the sum of net interest income and noninterest income, excluding gains or losses from securities sales and merger related expenses. This is a non-GAAP financial measure. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

(4) - We calculate tangible common equity as total shareholders' equity less goodwill and other intangibles, and we calculate tangible assets as total assets less goodwill and other intangibles. This is a non-GAAP financial measure. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

(5) - We calculate tangible book value per common share as total shareholders' equity less goodwill and other intangibles, divided by the outstanding number of shares of our common stock at the end of the relevant period. Tangible book value per common share is a non-GAAP financial measure, and, as we calculate tangible book value per common share, the most directly comparable GAAP financial measure is book value per common share.  See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

 

LINKBANCORP, Inc. and Subsidiaries

Net Interest Margin - Quarter-To-Date (Unaudited)
















For the Three Months Ended March 31,



2025


2024

(Dollars in thousands)


Avg Bal


Interest (2)


Yield/Rate


Avg Bal


Interest (2)


Yield/Rate

Int. Earn. Cash


$                119,269


$                       972


3.31 %


$                  82,420


$                       898


4.38 %

Securities













Taxable (1)


142,867


1,749


4.96 %


114,896


1,391


4.87 %

Tax-Exempt


43,845


481


4.45 %


42,984


457


4.28 %

Total Securities


186,712


2,230


4.84 %


157,880


1,848


4.71 %

Total Cash Equiv. and Investments


305,981


3,202


4.24 %


240,300


2,746


4.60 %

Total Loans (3)


2,350,031


37,041


6.39 %


2,240,714


36,125


6.48 %

Total Earning Assets


2,656,012


40,243


6.14 %


2,481,014


38,871


6.30 %

Other Assets


191,469






210,826





Total Assets


$             2,847,481






$             2,691,840





Interest bearing demand


$                545,475


3,048


2.27 %


$                424,781


1,942


1.84 %

Money market demand


555,663


2,937


2.14 %


587,455


3,174


2.17 %

Time deposits


632,649


6,372


4.08 %


608,192


6,731


4.45 %

Total Borrowings


149,922


1,954


5.29 %


140,621


2,044


5.85 %

Total Interest-Bearing Liabilities


1,883,709


14,311


3.08 %


1,761,049


13,891


3.17 %

Non Interest-Bearing Deposits


649,440






632,637





Total Cost of Funds


2,533,149


14,311


2.29 %


2,393,686


13,891


2.33 %

Other Liabilities


30,229






31,359





Total Liabilities


2,563,378






2,425,045





Shareholders' Equity


284,104






266,795





Total Liabilities & Shareholders' Equity


$             2,847,482






$             2,691,840





Net Interest Income/Spread (FTE)




25,932


3.06 %




24,980


3.13 %

Tax-Equivalent Basis Adjustment




(101)






(96)



Net Interest Income




$                  25,831






$                  24,884



Net Interest Margin






3.94 %






4.03 %


(1) Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks.

(2) Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table

(3) Includes the balances of nonaccrual loans

 

LINKBANCORP, Inc. and Subsidiaries

Net Interest Margin - Linked Quarter-To-Date (Unaudited)
















For the Three Months Ended



March 31, 2025


December 31, 2024

(Dollars in thousands)


Avg Bal


Interest (2)


Yield/Rate


Avg Bal


Interest (2)


Yield/Rate

Int. Earn. Cash


$                 119,269


$               972


3.31 %


$        128,802


$            1,300


4.02 %

Securities













Taxable (1)


142,867


1,749


4.96 %


138,168


1,540


4.43 %

Tax-Exempt


43,845


481


4.45 %


44,958


486


4.30 %

Total Securities


186,712


2,230


4.84 %


183,126


2,026


4.40 %

Total Cash Equiv. and Investments


305,981


3,202


4.24 %


311,928


3,326


4.24 %

Total Loans (3)


2,350,031


37,041


6.39 %


2,327,829


37,082


6.34 %

Total Earning Assets


2,656,012


40,243


6.14 %


2,639,757


40,408


6.09 %

Other Assets


191,469






202,693





Total Assets


$              2,847,481






$     2,842,450





Interest bearing demand


$                 545,475


3,048


2.27 %


$        537,856


3,043


2.25 %

Money market demand


555,663


2,937


2.14 %


567,593


3,139


2.20 %

Time deposits


632,649


6,372


4.08 %


607,231


6,641


4.35 %

Total Borrowings


149,922


1,954


5.29 %


153,117


1,938


5.04 %

Total Interest-Bearing Liabilities


1,883,709


14,311


3.08 %


1,865,797


14,761


3.15 %

Non Interest-Bearing Deposits


649,440






665,276





Total Cost of Funds


2,533,149


14,311


2.29 %


2,531,073


14,761


2.32 %

Other Liabilities


30,229






32,493





Total Liabilities


2,563,378






2,563,566





Shareholders' Equity


284,104






278,884





Total Liabilities & Shareholders' Equity


$              2,847,482






$     2,842,450





Net Interest Income/Spread (FTE)




25,932


3.06 %




25,647


2.94 %

Tax-Equivalent Basis Adjustment




(101)






(102)



Net Interest Income




$          25,831






$          25,545



Net Interest Margin






3.94 %






3.85 %


(1) Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks.

(2) Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table

(3) Includes the balances of nonaccrual loans

 

LINKBANCORP, Inc. and Subsidiaries

Loans Receivable Detail (Unaudited)












(In Thousands)


March 31, 2025


December 31, 2024


September 30, 2024


June 30, 2024


March 31, 2024

 Agriculture and farmland loans 


$           66,684


$                67,741


$             65,166


$          66,937


$          67,359

 Construction loans 


136,421


158,296


175,373


201,174


194,391

 Commercial & industrial loans 


257,302


252,163


241,597


247,190


218,724

 Commercial real estate loans 











      Multifamily 


215,916


217,331


212,444


199,740


190,146

      Owner occupied 


472,895


493,906


500,643


492,065


489,467

      Non-owner occupied 


645,793


658,615


626,030


610,649


589,731

 Residential real estate loans 











      First liens 


378,420


399,476


400,869


400,098


403,300

      Second liens and lines of credit 


79,905


78,410


73,591


71,168


71,060

 Consumer and other loans 


17,097


17,087


17,498


15,514


16,810

 Municipal loans 


3,012


3,886


4,296


4,362


4,473



2,273,445


2,346,911


2,317,507


2,308,897


2,245,461

Deferred costs


496


645


634


478


356

Total loans receivable


2,273,941


2,347,556


2,318,141


2,309,375


2,245,817

Less: Loans held for sale


—


91,807


102,273


116,178


115,898

Loans Held for Investment


$      2,273,941


$           2,255,749


$        2,215,868


$     2,193,197


$     2,129,919























LINKBANCORP, Inc. and Subsidiaries









Loan Growth Calculation Excluding Branch Sale (Unaudited)




















(In Thousands)


March 31, 2025









 Total Loans at March 31, 2025 


$      2,273,941









 Total Loans at December 31, 2024 


2,347,556









 Quarterly Change 


(73,615)









 Net Book Value of Loans Sold 


97,952









 Quarterly Loan Growth Excluding Branch Sale 


24,337









 Annualized Growth Rate 


4.20 %




















 

LINKBANCORP, Inc. and Subsidiaries



Investments in Securities Detail (Unaudited)














March 31, 2025



(In Thousands)


Amortized
Cost


Net
Unrealized Gains
(Losses)


Fair
Value



Available for Sale:









US Government Agency securities


$        13,097


$                   176


$        13,273



Obligations of state and political subdivisions


51,221


(3,756)


47,465



Mortgage-backed securities in government-sponsored entities


99,909


(1,864)


98,045



Other securities


408


(8)


400





$      164,635


$              (5,452)


$      159,183














 Amortized
Cost 


 Net Unrealized Losses 


 Fair Value 


 Allowance for
Credit Losses 

Held to Maturity:









Corporate debentures


$        12,250


$                 (828)


$        11,422


$            (421)

Structured mortgage-backed securities


15,833


(491)


15,342


-



$        28,083


$              (1,319)


$        26,764


$            (421)












December 31, 2024



(In Thousands)


Amortized
Cost


Net
Unrealized Gains
(Losses)


Fair
Value



Available for Sale:









US Government Agency securities


$        13,017


$                     56


$        13,073



Obligations of state and political subdivisions


51,254


(4,053)


47,201



Mortgage-backed securities in government-sponsored entities


88,289


(3,506)


84,783



Other securities


542


(9)


533





$      153,102


$              (7,512)


$      145,590














Amortized
Cost


Net Unrealized Losses


Fair Value


Allowance for
Credit Losses

Held to Maturity:









Corporate debentures


$        15,250


$                 (984)


$        14,266


$            (459)

Structured mortgage-backed securities


16,717


(699)


16,018


-



$        31,967


$              (1,683)


$        30,284


$            (459)










 

LINKBANCORP, Inc. and Subsidiaries

Deposits Detail (Unaudited)












(In Thousands)


March 31, 2025


December 31, 2024


September 30, 2024


June 30, 2024


March 31, 2024

Demand, noninterest-bearing


$        646,002


$               686,510


$             687,536


$            692,095


$       653,719

Demand, interest-bearing


577,170


537,546


547,099


488,043


447,412

Money market and savings


553,240


553,807


585,395


582,561


591,982

Time deposits, $250 and over


166,441


167,165


169,616


156,621


147,898

Time deposits, other


387,226


405,493


401,976


393,603


398,365

Brokered deposits


103,615


103,615


75,000


144,429


146,653



2,433,694


2,454,136


2,466,622


2,457,352


2,386,029

Less: Deposits held for sale


—


93,554


93,970


96,840


105,628

Total deposits  


$     2,433,694


$            2,360,582


$          2,372,652


$         2,360,512


$    2,280,401























Average Deposits Detail, for the Three Months Ended (Unaudited)












(In Thousands)


March 31, 2025


December 31, 2024


September 30, 2024


June 30, 2024


March 31, 2024

Demand, noninterest-bearing


$        649,440


$               665,276


$             659,825


$            657,939


$       632,637

Demand, interest-bearing


545,475


537,856


497,100


446,109


424,781

Money market and savings


555,663


567,593


580,766


581,223


587,455

Time deposits


576,366


568,615


560,815


547,582


518,929

Brokered deposits


56,283


38,616


52,587


95,337


89,263

Total deposits  


$     2,383,227


$            2,377,956


$          2,351,093


$         2,328,190


$    2,253,065

Balances in table above include deposits held for sale























LINKBANCORP, Inc. and Subsidiaries









Deposit Growth Calculation Excluding Branch Sale (Unaudited)




















(In Thousands)


March 31, 2025









 Total Deposits at March 31, 2025 


$     2,433,694









 Total Deposits at December 31, 2024 


2,454,136









 Quarterly Change 


(20,442)









 Net Book Value of Deposits Sold 


87,086









 Quarterly Deposit Growth Excluding Branch Sale 


66,644









 Annualized Growth Rate 


11.01 %









 

Appendix A – Reconciliation to Non-GAAP Financial Measures

This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these non-GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by us. As a complement to GAAP financial measures, our management believes these non-GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-GAAP measures. See the tables below for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.

Adjusted Return on Average Assets



For the Three Months Ended

(Dollars in thousands)


3/31/2025


12/31/2024


3/31/2024

Net income


$           15,343


$             7,584


$             5,726

Average assets


2,847,481


2,842,450


2,691,840

Return on average assets (annualized)


2.19 %


1.06 %


0.86 %

Net income


$           15,343


$             7,584


$             5,726

Gain on sale of branches


(11,093)


—


—

Tax effect(1)


2,440


—


—

Transaction bonus accrual


490


—


—

Tax effect(1)


(108)


—


—

Board restructuring accrual


381


—


—

Tax effect(1)


(84)


—


—

Merger & restructuring expenses


41


56


56

Tax effect(1)


(9)


(12)


(12)

Adjusted Net Income (Non-GAAP)


$             7,401


$             7,628


$             5,770

Average assets


$      2,847,481


$      2,842,450


$      2,691,840

Adjusted return on average assets (annualized)
(Non-GAAP)


1.05 %


1.07 %


0.86 %

(1) Tax effect was 22% for the three months ended March 31, 2025 and 21% for prior periods

 

Adjusted Return on Average Shareholders' Equity



For the Three Months Ended

(Dollars in thousands)


3/31/2025


12/31/2024


3/31/2024

Net income


$       15,343


$         7,584


$          5,726

Average shareholders' equity


284,104


278,884


266,795

Return on average shareholders' equity (annualized)


21.90 %


10.82 %


8.63 %

Net income


$       15,343


$         7,584


$          5,726

Gain on sale of branches


(11,093)


—


—

Tax effect(1)


2,440


—


—

Transaction bonus accrual


490


—


—

Tax effect(1)


(108)


—


—

Board restructuring accrual


381


—


—

Tax effect(1)


(84)


—


—

Merger & restructuring expenses


41


56


56

Tax effect(1)


(9)


(12)


(12)

Adjusted Net Income (Non-GAAP)


$         7,401


$         7,628


$          5,770

Average shareholders' equity


$     284,104


$     278,884


$      266,795

Adjusted return on average shareholders' equity (annualized)
(Non-GAAP)


10.56 %


10.88 %


8.70 %

(1) Tax effect was 22% for the three months ended March 31, 2025 and 21% for prior periods

 

Adjusted Efficiency Ratio


For the Three Months Ended

(Dollars in thousands)

3/31/2025


12/31/2024


3/31/2024

GAAP-based efficiency ratio

50.29 %


65.04 %


72.33 %

Net interest income 

$     25,831


$     25,545


$     24,884

Noninterest income 

13,257


2,594


1,729

Less: Gain on sale of branches

(11,093)


-


-

Adjusted revenue (Non-GAAP)

27,995


28,139


26,613

Total noninterest expense 

19,658


18,302


19,250

Less: Merger & restructuring expenses

41


56


56

Less: Transaction bonus accrual

490


-


-

Less: Board restructuring accrual

381


-


-

Adjusted non-interest expense

$     18,746


$     18,246


$     19,194

Efficiency ratio, as adjusted (Non-GAAP)

66.96 %


64.84 %


72.12 %

 

Adjusted Earnings Per Share


For the Three Months Ended

(Dollars in thousands, except per share data)

3/31/2025


12/31/2024


3/31/2024

GAAP-Based Earnings Per Share, Basic

$         0.41


$              0.20


$         0.15

GAAP-Based Earnings Per Share, Diluted

$         0.41


$              0.20


$         0.15

Net Income

$     15,343


$            7,584


$       5,726

Gain on sale of branches

(11,093)


—


—

Tax effect(1)

2,440


—


—

Transaction bonus accrual

490


—


—

Tax effect(1)

(108)


—


—

Board restructuring accrual

381


—


—

Tax effect(1)

(84)


—


—

Merger & restructuring expenses

41


56


56

Tax effect(1)

(9)


(12)


(12)

Adjusted Net Income (Non-GAAP)

$       7,401


$            7,628


$       5,770

Adjusted Earnings per Share, Basic (Non-GAAP)

$         0.20


$              0.21


$         0.16

Adjusted Earnings per Share, Diluted (Non-GAAP)

$         0.20


$              0.21


$         0.16

(1) Tax effect was 22% for the three months ended March 31, 2025 and 21% for prior periods

 

Tangible Common Equity and Tangible Book Value

(Dollars in thousands, except per share data)


3/31/2025


12/31/2024


9/30/2024


6/30/2024


3/31/2024

Tangible Common Equity



Total shareholders' equity 


$    294,066


$        280,221


$         277,353


$       271,409


$        268,243

Adjustments:











Goodwill 


(58,806)


(58,806)


(58,806)


(58,806)


(56,968)

Other intangible assets 


(18,573)


(20,955)


(22,118)


(23,323)


(24,526)

Tangible common equity (Non-GAAP)


$    216,687


$        200,460


$         196,429


$       189,280


$        186,749

Common shares outstanding 


37,377,342


37,370,917


37,361,560


37,356,278


37,348,151

Book value per common share 


$          7.87


$              7.50


$               7.42


$             7.27


$              7.18

Tangible book value per common share
(Non-GAAP)


$          5.80


$              5.36


$               5.26


$             5.07


$              5.00

Tangible Assets











Total assets 


$ 2,863,396


$     2,878,778


$      2,879,941


$    2,858,593


$     2,785,669

Adjustments:











Goodwill 


(58,806)


(58,806)


(58,806)


(58,806)


(56,968)

Other intangible assets 


(18,573)


(20,955)


(22,118)


(23,323)


(24,526)

Tangible assets (Non-GAAP)


$ 2,786,017


$     2,799,017


$      2,799,017


$    2,776,464


$     2,704,175

Tangible common equity to tangible assets (Non-GAAP)


7.78 %


7.16 %


7.02 %


6.82 %


6.91 %

 

Adjusted Pre-tax, Pre-provision Net Income (Non-GAAP)


For the Three Months Ended

(Dollars in thousands, except per share data)

3/31/2025


12/31/2024


3/31/2024

Net Income (GAAP)

$          15,343


$       7,584


$           5,726

Gain on sale of branches

(11,093)


—


—

Tax effect(1)

2,440


—


—

Transaction bonus accrual

490


—


—

Tax effect(1)

(108)


—


—

Board restructuring accrual

381


—


—

Tax effect(1)

(84)


—


—

Merger & restructuring expenses

41


56


56

Tax effect(1)

(9)


(12)


(12)

Adjusted Net Income (Non-GAAP)

7,401


7,628


5,770

Income tax expense

3,859


2,121


1,597

 Provision for credit losses

228


132


40

Tax effect included in Adjusted Net Income

(2,239)


12


12

Adjusted Pre-tax, Pre-provision Net Income (Non-GAAP)

$            9,249


$       9,893


$           7,419

(1) Tax effect was 22% for the three months ended March 31, 2025 and 21% for prior periods

 

Contact:
Nick West
Director, Corporate Development
717.678.7935
IR@LINKBANCORP.COM 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/linkbancorp-inc-announces-record-first-quarter-2025-earnings-and-declares-dividend-302440140.html

SOURCE LINKBANCORP, Inc.

FAQ

How much profit did LNKB make in Q1 2025?

LINKBANCORP (LNKB) reported record net income of $15.3 million, or $0.41 per diluted share, in Q1 2025, compared to $7.6 million ($0.20 per share) in Q4 2024.

What was the gain from LNKB's New Jersey branch sale in 2025?

LNKB's New Jersey branch sale in March 2025 resulted in an after-tax gain of $8.7 million. The sale included three branches, $87 million in deposits (sold at 7% premium), and $105 million in loans (sold at par).

What dividend will LNKB pay shareholders in June 2025?

LNKB will pay a quarterly cash dividend of $0.075 per share on June 16, 2025, to shareholders of record as of May 30, 2025.

How did LNKB's net interest margin perform in Q1 2025?

LNKB's net interest margin expanded to 3.94% in Q1 2025 from 3.85% in Q4 2024, driven by increased purchase accounting accretion, higher loan yields, and lower cost of funds.

What is LNKB's tangible book value growth in Q1 2025?

LNKB's tangible book value per share increased by $0.44 (8.2%) from $5.36 to $5.80 in Q1 2025, with the tangible common equity to assets ratio improving to 7.78%.
Stock LNKB logo
Linkbancorp

NASDAQ:LNKB

LNKB Rankings

#2268 Ranked by Market Cap
#756 Ranked by Dividends

LNKB Latest News

Apr 1, 2025
LINKBANCORP, INC. Announces Completion of New Jersey Branch Sale
Mar 26, 2025
LINKBANCORP, INC. Announces Receipt of Regulatory Approvals for New Jersey Branch Sale
Jan 27, 2025
LINKBANCORP, Inc. Announces Record Fourth Quarter 2024 and Full Year 2024 Financial Results and Declares Dividend
Oct 28, 2024
LINKBANCORP, Inc. Announces Record Third Quarter Net Income of $7.1 Million
Jul 29, 2024
LINKBANCORP, Inc. Announces Second Quarter 2024 Earnings

LNKB Stock Data

241.08M
24.95M
33.32%
34.4%
0.98%
Banks - Regional
State Commercial Banks
Link
United States
CAMP HILL