LINKBANCORP, Inc. And Partners Bancorp Announce Receipt Of Federal Reserve Board Approval And Closing Date For Merger Of Equals; The Merger Is Expected To Close On November 30, 2023, Pending Satisfaction Of Customary Closing Conditions
Portfolio Pulse from Benzinga Newsdesk
LINKBANCORP, Inc. (LNKB) and Partners Bancorp (PTRS) have received the final regulatory approval from the Federal Reserve Board for their merger of equals. The all-stock transaction will result in Partners merging into LINKBANCORP, with LINKBANCORP as the surviving entity. The Bank of Delmarva and Virginia Partners Bank will merge into LINKBANK. The expected closing date is November 30, 2023, subject to customary closing conditions.
November 16, 2023 | 1:21 pm
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POSITIVE IMPACT
LINKBANCORP, Inc. has received the final necessary regulatory approval for its merger with Partners Bancorp, with the merger expected to close on November 30, 2023.
The Federal Reserve Board's approval is a significant step towards completing the merger, which is a major corporate event likely to be viewed positively by investors. The anticipation of the merger's benefits may drive short-term positive sentiment for LNKB.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Partners Bancorp has received the final necessary regulatory approval for its merger with LINKBANCORP, with the merger expected to close on November 30, 2023.
Receiving the Federal Reserve Board's approval is a critical step for PTRS's merger with LNKB. This news is likely to be received positively by the market, potentially leading to a short-term uptick in PTRS's stock price as the merger completion nears.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100