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LINKBANCORP, Inc. Announces Record Third Quarter Net Income of $7.1 Million

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LINKBANCORP reported record net income of $7.1 million ($0.19 per diluted share) for Q3 2024, up from $5.8 million in Q2 2024. Total deposits increased by $9.3 billion to $2.47 billion, with strong growth in demand deposits ($54.5 million) and retail time deposits ($21.4 million). Net interest income reached $25.0 million, with a 3.82% net interest margin. The company's total assets stood at $2.88 billion, with non-performing assets at $17.4 million (0.60% of total assets). The planned sale of New Jersey branches is expected to close in Q4 2024 or Q1 2025.

LINKBANCORP ha riportato un reddito netto record di $7,1 milioni ($0,19 per azione diluita) per il terzo trimestre del 2024, in aumento dai $5,8 milioni del secondo trimestre del 2024. I depositi totali sono aumentati di $9,3 miliardi, raggiungendo i $2,47 miliardi, con una forte crescita nei depositi a vista ($54,5 milioni) e nei depositi a termine retail ($21,4 milioni). Il reddito netto da interessi ha raggiunto i $25,0 milioni, con un margine di interesse netto del 3,82%. Le attività totali dell'azienda ammontavano a $2,88 miliardi, con attività non performanti pari a $17,4 milioni (0,60% delle attività totali). La vendita pianificata delle filiali nel New Jersey dovrebbe concludersi nel quarto trimestre del 2024 o nel primo trimestre del 2025.

LINKBANCORP reportó un ingreso neto récord de $7.1 millones ($0.19 por acción diluida) para el tercer trimestre de 2024, un aumento desde los $5.8 millones en el segundo trimestre de 2024. Los depósitos totales aumentaron en $9.3 mil millones, alcanzando los $2.47 mil millones, con un fuerte crecimiento en los depósitos a la vista ($54.5 millones) y los depósitos a plazo minoristas ($21.4 millones). El ingreso neto por intereses alcanzó los $25.0 millones, con un margen de interés neto del 3.82%. Los activos totales de la empresa se situaron en $2.88 mil millones, con activos no productivos de $17.4 millones (0.60% de los activos totales). Se espera que la venta planificada de las sucursales de Nueva Jersey se cierre en el cuarto trimestre de 2024 o el primer trimestre de 2025.

LINKBANCORP는 2024년 3분기 순이익으로 $7.1백만 ($0.19 희석 주당 수익)을 발표했으며, 이는 2024년 2분기의 $5.8백만에서 증가한 수치입니다. 총 예금은 $9.3억 증가하여 $2.47억에 도달했으며, 수요 예금($54.5백만)과 소매 정기 예금($21.4백만)에서 강한 성장이 있었습니다. 순이자 수익은 $25.0백만에 도달했으며, 순이자 마진은 3.82%입니다. 회사의 총 자산은 $2.88억에 달하며, 부실 자산은 $17.4백만으로 총 자산의 0.60%를 차지합니다. 뉴저지 지점의 계획된 매각은 2024년 4분기 또는 2025년 1분기에 성사될 것으로 예상됩니다.

LINKBANCORP a rapporté un revenu net record de 7,1 millions de dollars (0,19 $ par action diluée) pour le troisième trimestre 2024, en hausse par rapport à 5,8 millions de dollars au deuxième trimestre 2024. Les dépôts totaux ont augmenté de 9,3 milliards de dollars pour atteindre 2,47 milliards de dollars, avec une forte croissance des dépôts à vue (54,5 millions de dollars) et des dépôts à terme de détail (21,4 millions de dollars). Les revenus nets d'intérêts ont atteint 25,0 millions de dollars, avec une marge d'intérêt nette de 3,82 %. Les actifs totaux de l'entreprise se sont élevés à 2,88 milliards de dollars, avec des actifs non performants s'élevant à 17,4 millions de dollars (0,60 % des actifs totaux). La vente prévue des succursales du New Jersey devrait être finalisée au quatrième trimestre 2024 ou au premier trimestre 2025.

LINKBANCORP berichtete im dritten Quartal 2024 über einen Rekordnettoeinkommen von $7,1 Millionen ($0,19 pro verwässerter Aktie), was einem Anstieg von $5,8 Millionen im zweiten Quartal 2024 entspricht. Die Gesamteinlagen stiegen um $9,3 Milliarden auf $2,47 Milliarden, mit starkem Wachstum bei den Sichteinlagen ($54,5 Millionen) und den Einzelhandelsfestgeldanlagen ($21,4 Millionen). Die Zinserträge beliefen sich auf $25,0 Millionen, mit einer Nettomarge von 3,82%. Die Gesamtsumme der Vermögenswerte des Unternehmens betrug $2,88 Milliarden, mit notleidenden Vermögenswerten von $17,4 Millionen (0,60% der gesamten Vermögenswerte). Der geplante Verkauf der Filialen in New Jersey wird für das vierte Quartal 2024 oder das erste Quartal 2025 erwartet.

Positive
  • Record quarterly net income of $7.1 million, up from $5.8 million in Q2
  • Strong deposit growth with $54.5 million increase in demand deposits
  • Net interest income increased to $25.0 million from $24.5 million
  • Noninterest income grew by $822,000 quarter-over-quarter to $2.7 million
  • Book value per share increased to $7.42 from $7.27
Negative
  • Non-performing assets increased to $17.4 million (0.60% of total assets) from $10.6 million (0.37%)
  • Net interest margin slightly decreased to 3.82% from 3.83%
  • Average yield on interest-earning assets declined to 6.16% from 6.19%

Insights

LINKBANCORP delivered a strong third quarter with $7.1 million in net income, marking a 22.4% increase from $5.8 million in Q2 2024. Key performance metrics show healthy fundamentals:

  • Net interest margin remained stable at 3.82% despite rate pressures
  • Core deposit growth was robust with $54.5 million increase in demand deposits
  • Cost of funds improved slightly to 2.42%
  • Return on average assets reached 1.00%, up from 0.84%

While non-performing assets increased to 0.60% of total assets, this was primarily due to a single $5.5 million secured loan. The bank maintains strong capital ratios and improving efficiency metrics, suggesting sustainable earnings growth potential.

HARRISBURG, Pa., Oct. 28, 2024 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank") reported record net income of $7.1 million, or $0.19 per diluted share, for the quarter ended September 30, 2024, demonstrating continued growth compared to net income of $5.8 million, or $0.16 per diluted share, for the linked quarter ended June 30, 2024.  Excluding expenses associated with the sale of its New Jersey branches and branch consolidations, adjusted earnings were $7.2 million1, or $0.191 per diluted share for the third quarter of 2024, compared with $6.3 million1, or $0.171 per diluted share for the second quarter of 2024.

Third Quarter 2024 Highlights

  • Annualized return on average assets was 1.00% for the third quarter of 2024, compared to 0.84% for the the second quarter of 2024. Adjusted return on average assets was 1.02%1 for the third quarter of 2024, compared to 0.91%1 for the second quarter of 2024.
  • Total deposits2 increased $9.3 million from $2.46 billion at June 30, 2024 to $2.47 billion at September 30, 2024, as strong growth in demand deposit accounts of $54.5 million and retail time deposits of $21.4 million exceeded a $69.4 million decrease in brokered deposits. Excluding loans held for sale, total loans increased $22.7 million to $2.22 billion at September 30, 2024, compared to $2.19 billion at June 30, 2024. Total loans2 increased $8.8 million from $2.31 billion at June 30, 2024 to $2.32 billion at September 30, 2024.
  • Noninterest income increased $822 thousand quarter-over-quarter to $2.7 million for the third quarter of 2024 compared to $1.9 million for the second quarter of 2024.
  • Noninterest expense decreased $448 thousand quarter over quarter to $18.5 million in the third quarter of 2024, as the Company continued to execute on post-merger efficiency strategies.
  • Net interest income before provision for credit losses was $25.0 million for the third quarter of 2024 compared to $24.5 million in the second quarter of 2024. Net interest margin was 3.82% for the third quarter of 2024 compared to 3.83% for the second quarter of 2024.
  • Non-performing assets were $17.4 million, representing 0.60% of total assets at September 30, 2024, compared to $10.6 million, representing 0.37% of total assets at June 30, 2024. Loans 30-89 days past due at September 30, 2024 were $2.7 million, representing 0.12% of total loans, an improvement compared to $5.2 million or 0.24% of total loans at June 30, 2024. The allowance for credit losses-loans was 1.20% of total loans held for investment at September 30, 2024, unchanged from June 30, 2024.
  • On May 9, 2024, the Company announced that LINKBANK had entered into a definitive purchase and assumption agreement for the sale of the Bank's banking operations and three branches in New Jersey, including related loans and deposits (the "Branch Sale"). The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2024 or the first quarter of 2025.

As a result of the Branch Sale announcement, associated loans and deposits were reclassified as held for sale, impacting the Company's allowance for credit losses and purchase accounting amortization related to the loans held for sale. 

"We are pleased to announce another quarter of record earnings for the third quarter of 2024, representing an annualized 1.00% return on average assets for the quarter and demonstrating solid progress toward achieving our target profitability metrics. This is a result of prioritizing high quality loan and strong core deposit growth, with an emphasis on achieving cost efficiencies from the merger and branch consolidations, while also executing on non-interest income initiatives," said Andrew Samuel, Chief Executive Officer of LINKBANCORP.  "As we look to close 2024 with a strong fourth quarter, our teams continue to implement strategies to reduce funding costs and operational expenses and generate additional revenue to support further earnings growth." 

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

2 Total loans and total deposits include balances held for sale in the Branch Sale of $102.3 million and $94.0 million, respectively, at September 30, 2024.  These balances were $116.2 million and $96.8 million respectively at June 30, 2024. 

Income Statement
Net interest income before the provision for credit losses for the third quarter of 2024 was $25.0 million compared to $24.5 million in the second quarter of 2024. Net interest margin was 3.82% for the third quarter of 2024 compared to 3.83% for the second quarter of 2024.  Cost of funds decreased to 2.42% for the third quarter of 2024 compared to 2.43% for the second quarter of 2024, while the average yield on interest earning assets decreased from 6.19% for the second quarter of 2024 to 6.16% for the third quarter of 2024 due to the cut in the target federal funds rate.

Noninterest income increased $822 thousand quarter-over-quarter to $2.7 million for the third quarter of 2024 compared to $1.9 million for the second quarter of 2024, and included strong growth in service charges on deposit accounts and gain on sale of loans, as well as increases in merchant fees and swap fee income.

Noninterest expense for the third quarter of 2024 was $18.5 million compared to $18.9 million for the second quarter of 2024.  Excluding one-time costs associated with the Branch Sale and branch consolidations of $171 thousand in the third quarter of 2024 and $631 thousand in the second quarter of 2024, adjusted noninterest expense was generally flat at $18.3 million for the second and third quarter of 20241 , as decreases in personnel and occupancy costs were offset by increases in FDIC deposit insurance and fraud-related operating losses.

Income tax expense was $2.0 million for the third quarter of 2024, reflecting an effective tax rate of 22.2%.

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

Balance Sheet
Total assets were $2.88 billion at September 30, 2024 compared to $2.86 billion at June 30, 2024 and $1.26 billion at September 30, 2023.  Deposits and net loans as of September 30, 2024 totaled $2.37 billion and $2.19 billion, respectively, compared to deposits and net loans of $2.36 billion and $2.17 billion, respectively, at June 30, 2024 and $1.04 billion and $969.0 million, respectively, at September 30, 2023.  Deposits and net loans exclude balances held for sale in the Branch Sale of $94.0 million and $102.3 million, respectively, at September 30, 2024, which are reflected in liabilities held for sale and assets held for sale.  These balances were $96.8 million and $116.2 million respectively, at June 30, 2024. 

Including loans held for sale, total loans increased $8.8 million, from $2.31 billion at June 30, 2024 to $2.32 billion at September 30, 2024.  Total commercial loan commitments for the third quarter of 2024 were $111.0 million with funded balances of $74.8 million. The average commercial loan commitment originated during the third quarter of 2024 totaled approximately $810 thousand with an average outstanding funded balance of $546 thousand.

Including deposits held for sale, total deposits at September 30, 2024 totaled $2.47 billion, an increase of $9.3 million from $2.46 billion at June 30, 2024.  This increase included growth of $54.5 million in demand deposit accounts and $21.4 million in retail time deposits, offset by a decrease in brokered deposits of $69.4 million quarter over quarter.

The Company maintains strong on-balance sheet liquidity, as cash and cash equivalents increased to $191.2 million at September 30, 2024 compared to $181.7 million at June 30, 2024.

Shareholders' equity increased from $271.4 million at June 30, 2024 to $277.4 million at September 30, 2024 primarily as a result of a $4.3 million increase in retained earnings.  Book value per share increased to $7.42 at September 30, 2024 compared to $7.27 at June 30, 2024.  Tangible book value per share increased to $5.26 at September 30, 2024 compared to $5.07 at June 30, 20241.

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

Asset Quality
The Company recorded a $84 thousand provision for credit losses during the third quarter of 2024, after recording no provision for credit losses in the second quarter of 2024.  

As of September 30, 2024, the Company's non-performing assets were $17.4 million, representing 0.60% of total assets, compared to $10.6 million, representing 0.37% of total assets at June 30, 2024.  The increase related primarily to a single real estate secured loan acquired in the merger with Partners Bancorp (the "Partners Merger") with an outstanding principal balance of approximately $5.5 million at September 30, 2024.  Based on a recent appraisal and application of the Company's reserve methodology, a specific reserve was not needed for this loan as of September 30, 2024.  

Loans 30-89 days past due at September 30, 2024 were $2.7 million, representing 0.12% of total loans, an improvement compared to $5.2 million or 0.24% of total loans at June 30, 2024.

The allowance for credit losses-loans was $26.5 million, or 1.20% of total loans held for investment at September 30, 2024, compared to $26.3 million, or 1.20% of total loans held for investment at June 30, 2024.  In addition to the recorded provision, the increased allowance resulted from a reallocation of a portion of the allowance for credit losses-unfunded commitments to the allowance for credit losses-loans.  The allowance for credit losses-loans to nonperforming assets was 152.73% at September 30, 2024, compared to 248.26% at June 30, 2024.

Capital
The Bank's regulatory capital ratios were well in excess of regulatory minimums to be considered "well capitalized" as of September 30, 2024. The Bank's Total Capital Ratio and Tier 1 Capital Ratio were 11.44% and 10.62% respectively, at September 30, 2024, compared to 11.09% and 10.30 %, respectively, at June 30, 2024 and 12.92% and 12.37%, respectively, at September 30, 2023. The Company's ratio of Tangible Common Equity to Tangible Assets was 7.02%1 at September 30, 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, Virginia, and New Jersey through 26 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; risks related to the integration of the Partners Merger; the timing and receipt of regulatory approvals to complete the Branch Sale; 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. 

Given that the Company's merger with Partners Bancorp was completed on November 30, 2023 , reported results prior to the fourth quarter of 2023 included in the following tables reflect legacy LINKBANCORP results only.

LB-E
LB-D

LINKBANCORP, Inc. and Subsidiaries

Consolidated Balance Sheet (Unaudited)





September 30, 2024


June 30, 2024


March 31, 2024


December 31, 2023


September 30, 2023

(In Thousands, except share and per share data)











ASSETS











Noninterest-bearing cash equivalents


$              15,295


$        14,516


$             13,552


$                  13,089


$                    5,447

Interest-bearing deposits with other institutions


175,937


167,141


158,731


67,101


62,532

Cash and cash equivalents


191,232


181,657


172,283


80,190


67,979

Certificates of deposit with other banks


—


—


—


—


249

Securities available for sale, at fair value


149,315


140,121


133,949


115,490


78,779

Securities held to maturity, net of allowance for credit losses


34,155


35,343


36,109


36,223


37,266

Loans receivable, gross


2,215,868


2,193,197


2,129,919


2,128,284


978,912

Allowance for credit losses - loans


(26,542)


(26,288)


(23,842)


(23,767)


(9,964)

Loans receivable, net


2,189,326


2,166,909


2,106,077


2,104,517


968,948

Investments in restricted bank stock


4,904


4,928


4,286


3,965


3,107

Premises and equipment, net


17,623


18,364


20,102


20,130


6,414

Right-of-Use Asset – premises


14,150


13,970


14,577


15,497


9,727

Bank-owned life insurance


51,646


49,616


49,230


48,847


24,732

Goodwill and other intangible assets


80,924


82,129


81,494


82,701


36,715

Deferred tax asset


21,662


22,024


22,717


24,153


6,880

Assets held for sale


104,660


118,362


118,115


115,499


—

Accrued interest receivable and other assets


20,344


25,170


26,730


22,113


14,899

TOTAL ASSETS


$         2,879,941


$   2,858,593


$        2,785,669


$             2,669,325


$             1,255,695

LIABILITIES











Deposits:











Demand, noninterest bearing


$            658,473


$      661,292


$           618,277


$                624,780


$                210,404

Interest bearing


1,714,179


1,699,220


1,662,124


1,574,019


831,368

Total deposits


2,372,652


2,360,512


2,280,401


2,198,799


1,041,772

Long-term borrowings


40,000


40,000


40,000


—


—

Short-term borrowings


—


—


—


10,000


15,000

Note payable


572


578


584


590


—

Subordinated debt


61,843


61,706


61,573


61,444


40,354

Lease liabilities


14,911


14,746


15,357


16,361


9,728

Liabilities held for sale


94,228


96,916


105,716


99,777


—

Accrued interest payable and other liabilities


18,382


12,726


13,795


16,558


7,490

TOTAL LIABILITIES


2,602,588


2,587,184


2,517,426


2,403,529


1,114,344

SHAREHOLDERS' EQUITY











Preferred stock


—


—


—


—


—

Common stock


370


370


369


369


162

Surplus


264,059


263,795


263,577


263,310


127,856

Retained earnings


15,147


10,826


7,724


4,843


19,062

Accumulated other comprehensive loss


(2,223)


(3,582)


(3,427)


(3,209)


(5,729)

        Total equity attributable to parent


277,353


271,409


268,243


265,313


141,351

        Noncontrolling interest in consolidated subsidiary


—


—


—


483


—

TOTAL SHAREHOLDERS' EQUITY


277,353


271,409


268,243


265,796


141,351

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY


$         2,879,941


$   2,858,593


$        2,785,669


$             2,669,325


$             1,255,695

Common shares outstanding


37,361,560


37,356,278


37,348,151


37,340,700


16,235,871

 

LINKBANCORP, Inc. and Subsidiaries

Consolidated Statements of Operations (Unaudited)





























Three Months Ended


Nine Months Ended



9/30/2024


6/30/2024


9/30/2023




9/30/2024


9/30/2023

(In Thousands, except share and per share data)













INTEREST AND DIVIDEND INCOME













Loans receivable, including fees


$          36,856


$         36,112


$           13,068




$        109,093


$           37,330

Other


3,338


3,337


1,710




9,325


4,765

Total interest and dividend income


40,194


39,449


14,778




118,418


42,095

INTEREST EXPENSE













Deposits


13,292


13,071


5,434




38,210


15,193

Other Borrowings


949


932


550




2,967


1,196

Subordinated Debt


972


962


442




2,892


1,311

Total interest expense


15,213


14,965


6,426




44,069


17,700

NET INTEREST INCOME BEFORE
   PROVISION FOR (CREDIT TO) CREDIT LOSSES


24,981


24,484


8,352




74,349


24,395

Provision for (credit to) credit losses


84


—


(349)




125


(549)

NET INTEREST INCOME AFTER
   PROVISION FOR (CREDIT TO) CREDIT LOSSES


24,897


24,484


8,701




74,224


24,944

NONINTEREST INCOME













Service charges on deposit accounts


1,052


865


198




2,697


593

Bank-owned life insurance


430


386


177




1,199


488

Net realized gains (losses) on the sale of debt securities


—


4


—




4


(2,370)

Gain on sale of loans


138


12


—




200


296

Other


1,060


591


505




2,167


905

Total noninterest income


2,680


1,858


880




6,267


(88)

NONINTEREST EXPENSE













Salaries and employee benefits


9,855


9,941


4,193




30,914


12,350

Occupancy


1,440


1,559


701




4,577


2,104

Equipment and data processing


1,640


1,824


934




5,290


2,519

Professional fees


763


788


363




2,299


1,162

FDIC insurance and supervisory fees


812


545


276




1,709


619

Bank Shares Tax


752


760


278




2,103


834

Intangible amortization


1,205


1,204


59




3,616


179

Merger & restructuring expenses


171


631


777




858


1,679

Advertising


163


241


77




505


268

Other


1,651


1,407


336




4,730


1,833

Total noninterest expense


18,452


18,900


7,994




56,601


23,547

Income before income tax expense 


9,125


7,442


1,587




23,890


1,309

Income tax expense


2,030


1,638


347




5,265


276

NET  INCOME


$            7,095


$           5,804


$             1,240




$          18,625


$             1,033














EARNINGS PER SHARE, BASIC


$              0.19


$             0.16


$               0.08




$              0.50


$               0.06

 EARNINGS PER SHARE, DILUTED


$              0.19


$             0.16


$               0.08




$              0.50


$               0.06

WEIGHTED-AVERAGE COMMON SHARES
   OUTSTANDING,













BASIC


36,983,637


36,970,768


16,235,144




36,972,127


15,984,151

DILUTED


37,090,111


37,040,748


16,235,144




37,061,512


15,984,151
















(106,474)


(69,980)


—




(89,385)


—

 

LINKBANCORP, Inc. and Subsidiaries

Financial Highlights (Unaudited)












For the Three Months Ended


For the Nine Months Ended

('Dollars In Thousands, except per share data)

9/30/2024


6/30/2024


9/30/2023


9/30/2024


9/30/2023

Operating Highlights










Net Income

$        7,095


$           5,804


$                 1,240


$              18,625


$             1,033

Net Interest Income

24,981


24,484


8,352


74,349


24,395

Provision for (credit to) Credit Losses

84


-


(349)


125


(549)

Non-Interest Income

2,680


1,858


880


6,267


(88)

Non-Interest Expense

18,452


18,900


7,994


56,601


23,547

Earnings per Share, Basic

0.19


0.16


0.08


0.50


0.06

Adjusted Earnings per Share, Basic (2)

0.20


0.17


0.11


0.52


0.26

Earnings per Share, Diluted

0.19


0.16


0.08


0.50


0.06

Adjusted Earnings per Share, Diluted (2)

0.19


0.17


0.11


0.52


0.26











Selected Operating Ratios










Net Interest Margin

3.82 %


3.83 %


2.89 %


3.89 %


2.88 %

Annualized Return on Assets ("ROA")

1.00 %


0.84 %


0.39 %


0.90 %


0.11 %

Adjusted ROA2

1.02 %


0.91 %


0.59 %


0.93 %


0.46 %

Annualized Return on Equity ("ROE")

10.30 %


8.65 %


3.46 %


9.20 %


0.99 %

Adjusted ROE2

10.50 %


9.39 %


5.17 %


9.53 %


4.04 %

Efficiency Ratio

66.71 %


71.75 %


86.59 %


70.21 %


96.87 %

Adjusted Efficiency Ratio3

66.09 %


69.36 %


78.17 %


69.15 %


81.97 %

Noninterest Income to Avg. Assets

0.38 %


0.27 %


0.28 %


0.30 %


-0.01 %

Noninterest Expense to Avg. Assets

2.61 %


2.73 %


2.54 %


2.73 %


2.56 %






















9/30/2024


6/30/2024


3/31/2024


12/31/2023


9/30/2023

Financial Condition Data










Total Assets

$ 2,879,941


$     2,858,593


$           2,785,669


$         2,669,325


$       1,255,695

Loans Receivable, Net

2,189,326


2,166,909


2,106,077


2,104,517


968,948











     Noninterest-bearing Deposits

658,473


661,292


618,277


624,780


210,404

     Interest-bearing Deposits

1,714,179


1,699,220


1,662,124


1,574,019


831,368

Total Deposits

2,372,652


2,360,512


2,280,401


2,198,799


1,041,772











Selected Balance Sheet Ratios










Total Capital Ratio1

11.44 %


11.09 %


11.04 %


10.62 %


12.92 %

Tier 1 Capital Ratio1

10.62 %


10.30 %


10.24 %


9.92 %


12.37 %

Common Equity Tier 1 Capital Ratio1

10.62 %


10.30 %


10.24 %


9.92 %


12.37 %

Leverage Ratio1

9.41 %


9.17 %


9.23 %


14.13 %


10.71 %

Tangible Common Equity to Tangible Assets4

7.02 %


6.82 %


6.91 %


7.08 %


8.58 %

Tangible Book Value per Share5

$          5.26


$             5.07


$                   5.00


$                 4.90


$               6.44











Asset Quality Data










Non-performing Assets

$      17,378


$         10,589


$                 6,675


$               7,250


$             2,958

Non-performing Assets to Total Assets

0.60 %


0.37 %


0.24 %


0.27 %


0.24 %

Non-performing Loans to Total Loans

0.78 %


0.48 %


0.31 %


0.34 %


0.30 %

Allowance for Credit Losses - Loans ("ACLL")

$      26,542


$         26,288


$               23,842


$              23,767


$             9,964

ACLL to Total Loans6

1.20 %


1.20 %


1.06 %


1.06 %


1.02 %

ACLL to Nonperforming Assets

152.73 %


248.26 %


357.18 %


327.82 %


336.85 %

Net (recoveries) chargeoffs

$           (28)


$              (20)


$                      70


$                  195


$                (12)











(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.

(6) - The historical ratios have not been recast for the reclassification of loans held for sale.















 

LINKBANCORP, Inc. and Subsidiaries

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
















For the Three Months Ended September 30,



2024


2023

(Dollars in thousands)


Avg Bal


Interest (2)


Yield/Rate


Avg Bal


Interest (2)


Yield/Rate

Int. Earn. Cash


$                114,383


$                    1,296


4.51 %


$                  55,514


$                       577


4.12 %

Securities













Taxable (1)


133,443


1,683


5.02 %


82,499


833


4.01 %

Tax-Exempt


42,800


453


4.21 %


38,589


378


3.89 %

Total Securities


176,243


2,136


4.82 %


121,088


1,211


3.97 %

Total Cash Equiv. and Investments


290,626


3,432


4.70 %


176,602


1,788


4.02 %

Total Loans (3)(4)


2,313,228


36,856


6.34 %


971,877


13,068


5.33 %

Total Earning Assets


2,603,854


40,288


6.16 %


1,148,479


14,856


5.13 %

Other Assets


208,407






97,995





Total Assets


$             2,812,261






$             1,246,474





Interest bearing demand(5)


$                497,100


$                    2,902


2.32 %


$                254,725


$                    1,490


2.32 %

Money market demand(5)


580,766


3,396


2.33 %


254,849


1,827


2.84 %

Time deposits(5)


613,402


6,993


4.54 %


265,573


2,117


3.16 %

Total Borrowings


153,699


1,922


0.00 %


102,669


992


3.83 %

Total Interest-Bearing Liabilities


1,844,967


15,213


3.28 %


877,816


6,426


2.90 %

Non Interest-Bearing Deposits(5)


659,825






209,054





Total Cost of Funds


$             2,504,792


$                  15,213


2.42 %


$             1,086,870


$                    6,426


2.35 %

Other Liabilities


33,534






17,230





Total Liabilities


$             2,538,326






$             1,104,100





Shareholders' Equity


$                273,935






$                142,374





Total Liabilities & Shareholders' Equity


$             2,812,261






$             1,246,474





Net Interest Income/Spread (FTE)




25,075


2.88 %




8,430


2.23 %

Tax-Equivalent Basis Adjustment




(94)






(78)



Net Interest Income




$                  24,981






$                    8,352



Net Interest Margin






3.82 %






2.89 %

(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

(4) Includes the balances of loans held for sale

(5) Includes the balances of deposits held for sale

 

LINKBANCORP, Inc. and Subsidiaries

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
















For the Three Months Ended



September 30, 2024


June 30, 2024

(Dollars in thousands)


Avg Bal


Interest (2)


Yield/Rate


Avg Bal


Interest (2)


Yield/Rate

Int. Earn. Cash


$                 114,383


$            1,296


4.51 %


$       121,340


$             1,395


4.62 %

Securities













Taxable (1)


133,443


1,683


5.02 %


125,885


1,592


5.09 %

Tax-Exempt


42,800


453


4.21 %


41,776


443


4.26 %

Total Securities


176,243


2,136


4.82 %


167,661


2,035


4.88 %

Total Cash Equiv. and Investments


290,626


3,432


4.70 %


289,001


3,430


4.77 %

Total Loans (3)(4)


2,313,228


36,856


6.34 %


2,280,041


36,112


6.37 %

Total Earning Assets


2,603,854


40,288


6.16 %


2,569,042


39,542


6.19 %

Other Assets


208,407






212,097





Total Assets


$              2,812,261






$    2,781,139





Interest bearing demand(5)


$                 497,100


2,902


2.32 %


$       446,109


$             2,457


2.22 %

Money market demand(5)


580,766


3,396


2.33 %


581,223


3,271


2.26 %

Time deposits(5)


613,402


6,993


4.54 %


642,919


7,343


4.59 %

Total Borrowings


153,699


1,922


4.97 %


151,596


1,894


5.02 %

Total Interest-Bearing Liabilities


1,844,967


15,213


3.28 %


1,821,847


14,965


3.30 %

Non Interest-Bearing Deposits(5)


659,825






657,939





Total Cost of Funds


$              2,504,792


$          15,213


2.42 %


$    2,479,786


$           14,965


2.43 %

Other Liabilities


33,534






31,519





Total Liabilities


$              2,538,326






$    2,511,305





Shareholders' Equity


$                 273,935






$       269,834





Total Liabilities & Shareholders' Equity


$              2,812,261






$    2,781,139





Net Interest Income/Spread (FTE)




25,075


2.88 %




24,577


2.89 %

Tax-Equivalent Basis Adjustment




(94)






(93)



Net Interest Income




$          24,981






$           24,484



Net Interest Margin






3.82 %






3.83 %

(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

(4) Includes the balances of loans held for sale

(5) Includes the balances of deposits held for sale





-









 

LINKBANCORP, Inc. and Subsidiaries

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
















For the Nine Months Ended September 30,



2024


2023

(Dollars in thousands)


Avg Bal


Interest (2)


Yield/Rate


Avg Bal


Interest (2)


Yield/Rate

Int. Earn. Cash


$                106,334


$                    3,590


4.51 %


$                  51,547


$                    1,561


4.05 %

Securities













Taxable (1)


125,264


4,666


4.98 %


83,449


2,309


3.70 %

Tax-Exempt


42,606


1,353


4.24 %


38,617


1,133


3.92 %

Total Securities


167,870


6,019


4.79 %


122,066


3,442


3.77 %

Total Cash Equiv. and Investments


274,204


9,609


4.68 %


173,613


5,003


3.85 %

Total Loans (3)(4)


2,279,378


109,093


6.39 %


958,382


37,330


5.21 %

Total Earning Assets


2,553,582


118,702


6.21 %


1,131,995


42,333


5.00 %

Other Assets


210,962






95,400





Total Assets


$             2,764,544






$             1,227,395





Interest bearing demand(5)


$                458,184


$                    7,301


2.13 %


$                250,830


$                    3,938


2.10 %

Money market demand(5)


582,998


9,841


2.25 %


248,731


4,766


2.56 %

Time deposits(5)


621,881


21,068


4.53 %


285,666


6,489


3.04 %

Total Borrowings


147,557


5,859


5.30 %


81,749


2,507


4.10 %

Total Interest-Bearing Liabilities


1,810,620


44,069


3.25 %


866,976


17,700


2.73 %

Non Interest-Bearing Deposits(5)


650,384






203,284





Total Cost of Funds


$             2,461,004


$                  44,069


2.39 %


$             1,070,260


$                  17,700


2.21 %

Other Liabilities


33,086






17,024





Total Liabilities


$             2,494,090






$             1,087,284





Shareholders' Equity


$                270,454






$                140,005





Total Liabilities & Shareholders' Equity


$             2,764,544






$             1,227,289





Net Interest Income/Spread (FTE)




74,633


2.96 %




24,633


2.27 %

Tax-Equivalent Basis Adjustment




(284)






(238)



Net Interest Income




$                  74,349






$                  24,395



Net Interest Margin






3.89 %






2.88 %

(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

(4) Includes the balances of loans held for sale

(5) Includes the balances of deposits held for sale

 

LINKBANCORP, Inc. and Subsidiaries

Loans Receivable Detail (Unaudited)












(In Thousands)


September 30,
2024


June 30,
2024


March 31,
2024


December 31,
2023


September 30,
2023

 Agriculture and farmland loans 


$             65,166


$           66,937


$        67,359


$          65,861


$          50,584

 Construction loans 


175,373


201,174


194,391


178,483


65,836

 Commercial & industrial loans 


241,597


247,190


218,724


238,343


115,572

 Commercial real estate loans 











      Multifamily 


212,444


199,740


190,146


180,788


111,853

      Owner occupied 


500,643


492,065


489,467


501,732


160,929

      Non-owner occupied 


626,030


610,649


589,731


580,972


257,344

 Residential real estate loans 











      First liens 


400,869


400,098


403,300


402,433


172,481

      Second liens and lines of credit 


73,591


71,168


71,060


70,747


27,870

 Consumer and other loans 


17,498


15,514


16,810


16,756


11,869

 Municipal loans 


4,296


4,362


4,473


5,244


4,137



2,317,507


2,308,897


2,245,461


2,241,359


978,475

Deferred costs


634


478


356


174


437

Total loans receivable


2,318,141


2,309,375


2,245,817


2,241,533


978,912

Less: Loans held for sale


102,273


116,178


115,898


113,249


-

Loans Held for Investment


$        2,215,868


$      2,193,197


$   2,129,919


$     2,128,284


$        978,912

 

LINKBANCORP, Inc. and Subsidiaries



Investments in Securities Detail (Unaudited)














September 30, 2024



(In Thousands)


Amortized
Cost


Net
Unrealized Gains
(Losses)


Fair
Value



Available for Sale:









US Government Agency securities


$        11,935


$                   442


$        12,377



Obligations of state and political subdivisions


51,124


(2,529)


48,595



Mortgage-backed securities in government-sponsored entities


88,528


(700)


87,828



Other securities


524


(9)


515





$      152,111


$              (2,796)


$      149,315














 Amortized
Cost 


 Net
Unrealized Gains
(Losses) 


 Fair Value 


 Allowance for
Credit Losses 

Held to Maturity:









Corporate debentures


$        15,000


$              (1,198)


$        13,802


$            (471)

Structured mortgage-backed securities


19,626


(605)


19,021


-



$        34,626


$              (1,803)


$        32,823


$            (471)












December 31, 2023



(In Thousands)


Amortized
Cost


Net
Unrealized Gains
(Losses)


Fair
Value



Available for Sale:









US Government Agency securities


$        12,711


$                   274


$        12,985



US Government Treasury securities


4,925


17


4,942



Obligations of state and political subdivisions


49,640


(2,595)


47,045



Mortgage-backed securities in government-sponsored entities


50,795


(2,614)


48,181



Other securities


2,301


36


2,337





$      120,372


$              (4,882)


$      115,490














Amortized
Cost


Net
Unrealized Gains
(Losses)


Fair Value


Allowance for
Credit Losses

Held to Maturity:









Corporate debentures


$        15,000


$              (1,592)


$        13,408


$            (512)

Structured mortgage-backed securities


21,735


(907)


20,828


-



$        36,735


$              (2,499)


$        34,236


$            (512)

 

LINKBANCORP, Inc. and Subsidiaries

Deposits Detail (Unaudited)












(In Thousands)


September 30,
2024


June 30,
2024


March 31,
2024


December 31,
2023


September 30,
2023

Demand, noninterest-bearing


$             687,536


$            692,095


$       653,719


$         655,953


$      210,404

Demand, interest-bearing


547,099


488,043


447,412


438,765


273,673

Money market and savings


585,395


582,561


591,982


577,448


258,334

Time deposits, $250 and over


169,616


156,621


147,898


134,324


51,563

Time deposits, other


401,976


393,603


398,365


372,572


172,798

Brokered deposits


75,000


144,429


146,653


119,411


75,000



2,466,622


2,457,352


2,386,029


2,298,473


1,041,772

Less: Deposits held for sale


93,970


96,840


105,628


99,674


—

Total deposits  


$          2,372,652


$         2,360,512


$    2,280,401


$      2,198,799


$   1,041,772























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












(In Thousands)


September 30,
2024


June 30,
2024


March 31,
2024


December 31,
2023


September 30,
2023

Demand, noninterest-bearing


$             659,825


$            657,939


$       632,637


$         371,051


$      209,054

Demand, interest-bearing


497,100


446,109


424,781


328,342


254,725

Money market and savings


580,766


581,223


587,455


367,821


254,849

Time deposits


560,815


547,582


518,929


317,747


236,869

Brokered deposits


52,587


95,337


89,263


30,832


28,705

Total deposits  


$          2,351,093


$         2,328,190


$    2,253,065


$      1,415,793


$      984,202

Balances in table above include deposits held for sale

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


For the Nine Months Ended

(Dollars in thousands)

9/30/2024


6/30/2024


9/30/2023


9/30/2024


9/30/2023

Net income

$       7,095


$             5,804


$             1,240


$           18,625


$             1,033

Average assets

2,812,261


2,781,139


1,246,474


2,764,544


1,227,395

Return on average assets (annualized)

1.00 %


0.84 %


0.39 %


0.90 %


0.11 %

Net income

7,095


5,804


1,240


18,625


1,033

Net (gains) losses on sale of securities

-


(4)


-


(4)


2,370

Tax effect at 21%

-


1


-


1


(498)

Merger & restructuring expenses

171


631


777


858


1,679

Tax effect at 21%

(36)


(133)


(163)


(180)


(353)

Adjusted Net Income (Non-GAAP)

7,230


6,299


1,854


19,300


4,231

Average assets

2,812,261


2,781,139


1,246,474


2,764,544


1,227,395

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

1.02 %


0.91 %


0.59 %


0.93 %


0.46 %

 

Adjusted Return on Average Shareholders' Equity


For the Three Months Ended


For the Nine Months Ended

(Dollars in thousands)

9/30/2024


6/30/2024


9/30/2023


9/30/2024


9/30/2023

Net income

$     7,095


$          5,804


$        1,240


$      18,625


$        1,033

Average shareholders' equity

273,935


269,834


142,374


270,454


140,005

Return on average shareholders' equity (annualized)

10.30 %


8.65 %


3.46 %


9.20 %


0.99 %

Net income

7,095


5,804


1,240


18,625


1,033

Net (gains) losses on sale of securities

-


(4)


-


(4)


2,370

Tax effect at 21%

-


1


-


1


(498)

Merger & restructuring expenses

171


631


777


858


1,679

Tax effect at 21%

(36)


(133)


(163)


(180)


(353)

Adjusted Net Income (Non-GAAP)

7,230


6,299


1,854


19,300


4,231

Average shareholders' equity

273,935


269,834


142,374


270,454


140,005

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

10.50 %


9.39 %


5.17 %


9.53 %


4.04 %

 

Adjusted Efficiency Ratio


For the Three Months Ended


For the Nine Months Ended

(Dollars in thousands)

9/30/2024


6/30/2024


9/30/2023


9/30/2024


9/30/2023

GAAP-based efficiency ratio

66.71 %


71.75 %


86.59 %


70.21 %


96.87 %

Net interest income 

$      24,981


$      24,484


$     8,352


$              74,349


$   24,395

Noninterest income 

2,680


1,858


880


6,267


(88)

Less: net gains (losses) on sales of securities 

-


4


-


4


(2,370)

Adjusted revenue (Non-GAAP)

27,661


26,338


9,232


80,612


26,677

Total noninterest expense 

18,452


18,900


7,994


56,601


23,547

Less: Merger & restructuring expenses

171


631


777


858


1,679

Adjusted non-interest expense

18,281


18,269


7,217


55,743


21,868

Efficiency ratio, as adjusted (Non-GAAP)

66.09 %


69.36 %


78.17 %


69.15 %


81.97 %

 

Adjusted Earnings Per Share


For the Three Months Ended


For the Nine Months Ended

(Dollars in thousands, except per share data)

9/30/2024


6/30/2024


9/30/2023


9/30/2024


9/30/2023

GAAP-Based Earnings Per Share, Basic

$       0.19


$              0.16


$          0.08


$       0.50


$                  0.06

GAAP-Based  Earnings Per Share, Diluted

$       0.19


$              0.16


$          0.08


$       0.50


$                  0.06

Net Income

$     7,095


$            5,804


$        1,240


$   18,625


$                1,033

Net (gains) losses on sale of securities

-


(4)


-


(4)


2,370

Tax effect at 21%

-


1


-


1


(498)

Merger & restructuring expenses

171


631


777


858


1,679

 Tax effect at 21% 

(36)


(133)


(163)


(180)


(353)

Adjusted Net Income (Non-GAAP)

7,230


6,299


1,854


19,300


4,231

Adjusted Earnings per Share, Basic (Non-GAAP)

$       0.20


$              0.17


$          0.11


$       0.52


$                  0.26

Adjusted Earnings per Share, Diluted (Non-GAAP)

$       0.19


$              0.17


$          0.11


$       0.52


$                  0.26

 

Tangible Common Equity and Tangible Book Value



9/30/2024


6/30/2024


3/31/2024


12/31/2023


9/30/2023

Tangible Common Equity




(Dollars in thousands, except for share data)

Total shareholders' equity 


$         277,353


$       271,409


$         268,243


$         265,796


$         141,351

Adjustments:











Goodwill 


(58,806)


(58,806)


(56,968)


(56,968)


(35,842)

Other intangible assets 


(22,118)


(23,323)


(24,526)


(25,733)


(873)

Tangible common equity (Non-GAAP)


$         196,429


$       189,280


$         186,749


$         183,095


$         104,636

Common shares outstanding 


37,361,560


37,356,278


37,348,151


37,340,700


16,235,871

Book value per common share 


$               7.42


$             7.27


$               7.18


$               7.12


$               8.71

Tangible book value per common share
(Non-GAAP)


$               5.26


$             5.07


$               5.00


$               4.90


$               6.44

Tangible Assets











Total assets 


$      2,879,941


$    2,858,593


$      2,785,669


$      2,669,325


$      1,255,695

Adjustments:











Goodwill 


(58,806)


(58,806)


(56,968)


(56,968)


(35,842)

Other intangible assets 


(22,118)


(23,323)


(24,526)


(25,733)


(873)

Tangible assets (Non-GAAP)


$      2,799,017


$    2,776,464


$      2,704,175


$      2,586,624


$      1,218,980

Tangible common equity to tangible assets (Non-GAAP)


7.02 %


6.82 %


6.91 %


7.08 %


8.58 %

 

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


For the Three Months Ended


For the Nine Months Ended

(Dollars in thousands, except per share data)

9/30/2024


6/30/2024


9/30/2023


9/30/2024


9/30/2023

Net Income - GAAP

$            7,095


$        5,804


$           1,240


$              18,625


$        1,033

Net (gains) losses on sale of securities

-


(4)


-


(4)


2,370

Tax effect at 21%

-


1


-


1


(498)

Merger & restructuring expenses

171


631


777


858


1,679

 Tax effect at 21% 

(36)


(133)


(163)


(180)


(353)

Adjusted Net Income (Non-GAAP)

7,230


6,299


1,854


19,300


4,231

Income tax expense

2,030


1,638


347


5,265


276

 Provision for (credit to) credit losses

84


-


(349)


125


(549)

Tax effect included in Adjusted Net Income

36


132


163


179


851

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

$            9,380


$        8,069


$           2,015


$              24,869


$        4,809

 

Contact:
Nicole Davis
Corporate and Investor Relations Officer
717.803.8895
IR@LINKBANCORP.COM 

 

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SOURCE LINKBANCORP, Inc.

FAQ

What was LINKBANCORP's (LNKB) net income for Q3 2024?

LINKBANCORP reported a record net income of $7.1 million ($0.19 per diluted share) for Q3 2024.

What is LNKB's total deposit amount as of September 30, 2024?

Total deposits were $2.47 billion as of September 30, 2024, showing an increase of $9.3 million from the previous quarter.

When is LINKBANCORP's New Jersey branch sale expected to close?

The New Jersey branch sale is expected to close in the fourth quarter of 2024 or the first quarter of 2025.

What was LNKB's net interest margin in Q3 2024?

The net interest margin was 3.82% for the third quarter of 2024.

Stock LNKB logo
LINKBANCORP, Inc.

NASDAQ:LNKB

LNKB Rankings

#3578 Ranked by Market Cap
#797 Ranked by Dividends

LNKB Latest News

Jul 29, 2024
LINKBANCORP, Inc. Announces Second Quarter 2024 Earnings
May 9, 2024
LINKBANCORP, INC. Announces Sale of New Jersey Operations
May 7, 2024
LINKBANCORP Appoints Chief Risk Officer
Apr 29, 2024
LINKBANCORP, Inc. Announces Record First Quarter Earnings
Jan 29, 2024
LINKBANCORP, Inc. Announces Fourth Quarter 2023 and Full Year 2023 Financial Results

LNKB Stock Data

284.01M
24.94M
33.33%
32.43%
0.9%
Banks - Regional
State Commercial Banks
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United States of America
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