LINKBANCORP Announces Sale Of New Jersey Operations For ~$105M Of Deposits And $123M In Loans
Portfolio Pulse from Benzinga Newsdesk
LINKBANCORP, Inc. (NASDAQ:LNKB) has announced the sale of its New Jersey operations, including $105M in deposits and $123M in loans, to American Heritage Federal Credit Union. The sale encompasses 3 branches previously part of Liberty Bell Bank, a division of The Bank of Delmarva, which merged with LINKBANK following LINKBANCORP's merger with Partners Bancorp.
May 09, 2024 | 9:26 pm
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LINKBANCORP's sale of its New Jersey operations, including significant assets in deposits and loans, to American Heritage Federal Credit Union marks a strategic move following its merger with Partners Bancorp.
The sale of LINKBANCORP's New Jersey operations is a significant strategic move, likely aimed at consolidating and optimizing its banking operations post-merger with Partners Bancorp. This could be viewed positively by investors as a sign of effective post-merger integration and focus on core markets, potentially leading to a short-term positive impact on LNKB's stock price.
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