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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 31, 2025

 

 

LINKBANCORP, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Pennsylvania

001-41505

82-5130531

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

1250 Camp Hill Bypass, Suite 202

 

Camp Hill, Pennsylvania

 

17011

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 855 569-2265

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, par value $0.01

 

LNKB

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 


Item 8.01 Other Events.

On April 1, 2025, LINKBANCORP, Inc. (the "Company") issued a press release announcing the completion of the previously announced purchase and assumption agreement (the "Transaction") with American Heritage Federal Credit Union relating to three New Jersey branch offices of the Company, including associated loans and deposits.

A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(a)

Financial statements of businesses acquired. None.

(b)

Pro forma financial information. None.

(c)

Shell company transactions. None.

(d)

Exhibits.

 

99.1     Press release dated April 1, 2025

 

104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

LINKBANCORP, INC.

 

 

 

 

Date:

April 1, 2025

By:

/s/ Carl D. Lundblad

 

 

 

Carl D. Lundblad
President

 


EX-99.1 2 lnkb-ex99_1.htm EX-99.1 EX-99.1

img53420396_0.jpg

Exhibit 99.1

FOR IMMEDIATE RELEASE

 

 

Contact:

Andrew Samuel

CEO

717.798.4230

asamuel@linkbank.com

 

 

LINKBANCORP, INC. Announces Completion of New Jersey Branch Sale

April 1, 2025 - CAMP HILL, PA – Andrew Samuel, Chief Executive Officer of LINKBANCORP, Inc. (NASDAQ: LNKB) ( “Company”), announced that the Company’s wholly owned subsidiary, LINKBANK (“LINK”), has successfully consummated the sale of its banking operations and three branches in New Jersey, including related loans and deposits (the “New Jersey Operations”) to American Heritage Federal Credit Union, headquartered in Philadelphia, Pennsylvania. The transaction, effective March 31, 2025, involved the transfer of three branch locations, approximately $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 estimated after-tax gain, net of transaction costs, of approximately $8.5 million for the Company.

“This strategic sale of our New Jersey Operations enables the Company to reallocate capital to our core markets in Pennsylvania, Maryland, and Virginia, while enhancing operational efficiencies as we continue to build a premier Mid-Atlantic community bank,” said Samuel.

The three branches were acquired by the Company in the merger with Partners Bancorp that closed in November 2023.

Stephens Inc. served as financial adviser and Luse Gorman, PC provided legal counsel to the Company in connection with the transaction.

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; risks related to the integration of the merger with Partners; changes in general economic trends, including inflation and changes in interest rates; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; adverse developments in borrower industries and, in particular, declines in real estate values; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and the effects of any cybersecurity breaches. The Company does not undertake, and specifically disclaims, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.