Financial Performance - Net interest income rose by $16.6 million, or 199.1%, to $25.0 million for the three months ended September 30, 2024, compared to $8.4 million for the same period in 2023[33]. - Net income for the three months ended September 30, 2024, was $7,095,000, a significant increase from $1,240,000 in the same period last year, representing a growth of 471%[73]. - Net income for the nine months ended September 30, 2023, was $18,625,000, compared to $1,033,000 for the same period in 2022, representing a significant increase[78]. - Total interest and dividend income for the three months ended September 30, 2024, was $40,194,000, compared to $14,778,000 for the same period in 2023, marking an increase of 171%[73]. - Noninterest income totaled $2,680,000 for the three months ended September 30, 2024, compared to $880,000 in the same period last year, an increase of 204%[73]. - Total noninterest expense increased to $18,452,000 for the three months ended September 30, 2024, from $7,994,000 in the same period last year, representing a rise of 131%[73]. - The company reported a total comprehensive income for the three months ended September 30, 2024, was $8,454,000, significantly higher than $78,000 in the same period last year[74]. Asset and Deposit Growth - Deposits increased by $173.9 million, or 7.9%, to $2.37 billion at September 30, 2024, compared to $2.20 billion at December 31, 2023[22]. - Total assets as of September 30, 2024, were $2,764.544 million, compared to $1,227.289 million as of the same date in 2023[39]. - Total loans increased by $87.1 million, or 4.09%, to $2.22 billion at September 30, 2024, from $2.13 billion at December 31, 2023[19]. - The Company has estimated uninsured deposits of $844.0 million, or 34.22% of total deposits, at September 30, 2024[22]. - Total deposits increased to $2.373 billion as of September 30, 2024, compared to $2.199 billion at the end of 2023[98]. Credit Losses and Allowance - The allowance for credit losses increased by $2.8 million from $23.8 million at December 31, 2023, to $26.5 million at September 30, 2024[20]. - The company reported a provision for credit losses attributed to an increase in specific reserves at September 30, 2024, compared to September 30, 2023[39]. - The total allowance for credit losses increased to $26,542,000 as of September 30, 2024, from $26,289,000 at the beginning of the period, reflecting a provision for losses of $225,000 during the three months[184]. - The allowance for credit losses for off-balance sheet instruments was $1,857 thousand as of September 30, 2024, down from $2,189 thousand at December 31, 2023[221]. Mergers and Acquisitions - The Company completed a purchase and assumption agreement with American Heritage Federal Credit Union for its New Jersey operations[16]. - The Partners Merger was completed on November 30, 2023, with LINKBANCORP as the surviving corporation, issuing 20.7 million common shares to Partners shareholders, representing approximately 55.4% of post-merger outstanding shares[93]. - Total consideration in the Partners Merger amounted to $135.779 million, with net assets acquired valued at $112.815 million[94]. - The company completed the Partners Merger, resulting in increased salaries and employee benefits expense of $18.6 million due to a rise in the number of employees[39]. Liquidity and Borrowing Capacity - The company has available borrowing capacity at the FHLB and lines of credit with multiple financial institutions providing an additional $77 million of liquidity as of September 30, 2024[41]. - The company maintains sufficient liquidity to fund operations and loan demand, with liquidity management being a daily and long-term function[40]. - The company has $40,000 in long-term FHLB Advances as of September 30, 2024, with a fixed rate of 4.827% maturing on February 20, 2026[211]. - The company has a remaining available capacity with FHLB of approximately $742.8 million as of September 30, 2024[211]. Stock and Dividends - The company declared dividends of $0.075 per share, totaling $2,774,000[73]. - The company declared dividends of $0.075 per share, totaling $1,217,000[76]. - The company recognized stock-based compensation expense of $187 thousand for the three months ended September 30, 2024, compared to $10 thousand for the same period in 2023[219]. - The Company has 1,537,484 outstanding stock purchase warrants with a strike price of $10, which have not been exercised since their issuance[219]. Loan Portfolio and Credit Quality - The total loan portfolio increased to $2,189,326,000 in September 2024 from $2,104,517,000 in December 2023, reflecting a growth of approximately 4%[181]. - The grading analysis of loans indicates a significant portion classified as "Pass," reflecting the borrowers' ability to meet obligations[168]. - The company has identified potential weaknesses in some loans, categorized as "Special Mention," which could lead to future risks[168]. - The allowance for credit losses related to nonaccrual loans was $4,882,000, indicating a significant level of potential risk[165].

Core Viewpoint - LINKBANCORP, Inc. reported quarterly earnings of $0.19 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.11 per share a year ago [1]. Financial Performance - The company posted revenues of $27.66 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 1.21%, compared to $9.23 million in the same quarter last year [2]. - Over the last four quarters, LINKBANCORP has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2][1]. Stock Performance - LINKBANCORP shares have declined approximately 18.7% since the beginning of the year, while the S&P 500 has gained 21.8% [3]. - The company's current Zacks Rank is 3 (Hold), indicating expected performance in line with the market in the near future [6]. Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.20 on revenues of $28.28 million, and for the current fiscal year, it is $0.70 on revenues of $108.55 million [7]. - The outlook for the industry, particularly the Banks - Northeast sector, is favorable, ranking in the top 14% of over 250 Zacks industries, suggesting potential for outperformance [8].

Core Viewpoint - LINKBANCORP, Inc. reported record net income of $7.1 million for Q3 2024, reflecting growth from the previous quarter and demonstrating strong operational performance [1][2]. Financial Performance - Net income for Q3 2024 was $7.1 million, or $0.19 per diluted share, compared to $5.8 million, or $0.16 per diluted share in Q2 2024 [1]. - Adjusted earnings for Q3 2024 were $7.2 million, or $0.191 per diluted share, up from $6.3 million, or $0.171 per diluted share in Q2 2024 [1][2]. - Annualized return on average assets was 1.00% for Q3 2024, an increase from 0.84% in Q2 2024 [2][12]. - Total deposits increased by $9.3 million to $2.47 billion, driven by growth in demand deposit accounts and retail time deposits [2][12]. - Noninterest income rose by $822 thousand to $2.7 million in Q3 2024 compared to Q2 2024 [2][12]. - Noninterest expense decreased by $448 thousand to $18.5 million in Q3 2024, reflecting efficiency strategies post-merger [2][12]. Balance Sheet Highlights - Total assets were $2.88 billion at September 30, 2024, up from $2.86 billion at June 30, 2024 [2][12]. - Total loans increased by $8.8 million to $2.32 billion, with a notable increase in loans held for investment [2][12]. - Shareholders' equity rose to $277.4 million, primarily due to a $4.3 million increase in retained earnings [2][12]. Asset Quality - Non-performing assets were $17.4 million, representing 0.60% of total assets, an increase from 0.37% in the previous quarter [2][12]. - The allowance for credit losses on loans was 1.20% of total loans held for investment, unchanged from the previous quarter [2][12]. - Loans 30-89 days past due improved to $2.7 million, or 0.12% of total loans, down from $5.2 million, or 0.24% [2][12]. Capital Ratios - The Bank's Total Capital Ratio and Tier 1 Capital Ratio were 11.44% and 10.62%, respectively, as of September 30, 2024, indicating strong capital position [4][12]. - Tangible book value per share increased to $5.26 at September 30, 2024, from $5.07 at June 30, 2024 [4][12].

Company Performance - LINKBANCORP, Inc. reported quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.18 per share, compared to earnings of $0.10 per share a year ago [8] - The company posted revenues of $26.34 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.05%, and this is an increase from year-ago revenues of $8.98 million [2] - LINKBANCORP, Inc. has not been able to beat consensus revenue estimates over the last four quarters [2] Stock Performance - LINKBANCORP, Inc. shares have lost about 7.3% since the beginning of the year, while the S&P 500 has gained 14.5% [3] - The company has surpassed consensus EPS estimates two times over the last four quarters [9] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.19 on revenues of $28.23 million, and for the current fiscal year, it is $0.75 on revenues of $110.99 million [5] - The estimate revisions trend for LINKBANCORP, Inc. is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [12] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call [10] Industry Context - The Zacks Industry Rank for Banks - Northeast is currently in the top 16% of over 250 Zacks industries, suggesting a favorable outlook for the industry [13] - Citizens & Northern (CZNC), another stock in the same industry, is expected to report revenues of $26.9 million, down 0.4% from the year-ago quarter [7]

Core Insights - The company reported a total loan increase of $63.6 million, or 11.4% annualized, from $2.25 billion at March 31, 2024, to $2.31 billion at June 30, 2024, driven by strong growth in commercial and industrial loans [1] - Total deposits rose by $71.3 million, or 12.0% annualized, from $2.39 billion at March 31, 2024, to $2.46 billion at June 30, 2024, with significant growth in noninterest-bearing demand accounts [1] - Noninterest expense decreased by $350 thousand quarter-over-quarter to $18.9 million in Q2 2024, with adjusted noninterest expense at $18.3 million, a decrease of $925 thousand compared to Q1 2024 [1] - Net interest income before provision for credit losses was $24.5 million for Q2 2024, slightly down from $24.9 million in Q1 2024, with a net interest margin of 3.83% compared to 4.03% in Q1 2024 [1][13] - Non-performing assets increased to $10.6 million, or 0.37% of total assets, at June 30, 2024, up from $6.7 million, or 0.24% of total assets, at March 31, 2024 [1][14] - The company announced a definitive purchase and assumption agreement for the sale of its banking operations and three branches in New Jersey, expected to close in the second half of 2024 [1] Financial Performance - The company achieved a net income of $5.8 million for Q2 2024, compared to $5.7 million in Q1 2024, with earnings per share of $0.16 [12][16] - The annualized return on equity (ROE) was reported at 8.65% for Q2 2024, slightly up from 8.63% in Q1 2024 [5] - The efficiency ratio improved to 71.75% in Q2 2024 from 72.33% in Q1 2024, indicating better cost management [5] - Noninterest income increased to $1.9 million in Q2 2024 from $1.7 million in Q1 2024, driven by higher service charges on deposit accounts [13] Asset Quality - The allowance for credit losses on loans was $26.3 million, or 1.20% of total loans held for investment, at June 30, 2024, up from $23.8 million, or 1.06%, at March 31, 2024 [14] - Loans 30-89 days past due improved to $5.15 million, or 0.24% of total loans, at June 30, 2024, compared to $15.3 million, or 0.72%, at March 31, 2024 [14] Strategic Developments - The company completed the consolidation of three client solution centers during the quarter and remains focused on improving profitability and customer experience [1] - The reclassification of assets and liabilities related to the Branch Sale impacted the company's allowance for credit losses and purchase accounting amortization [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number 001-41505 LINKBANCORP, Inc. (Exact name of registrant as specified in its charter) Pennsylvania 82-5130531 (State or other jurisdi ...

CAMP HILL, Pa., May 9, 2024 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) ("LINK" or the Company), today announced that its wholly owned subsidiary, LINKBANK, entered into a definite purchase and assumption agreement under which American Heritage Federal Credit Union, based in Philadelphia, Pennsylvania, will acquire LINKBANK's banking operations and 3 branches in New Jersey. The transaction includes approximately $105 million of deposits and $123 million in loans. The 3 branches were previously part of ...

LINKBANCORP, Inc. (LNKB) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.79%. A quarter ago, it was expected that this company would post a loss of $0.05 per share when it actually produced earnings of $0.09, delivering a surprise of 280%.Over the last four quarters, the company h ...

Contact: Nicole Davis Corporate and Investor Relations Officer 717.803.8895 IR@LINKBANCORP.COM LINKBANCORP, Inc. Announces Record First Quarter Earnings April 29, 2024 – HARRISBURG, PA – LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank") reported net income of $5.73 million, or $0.15 per diluted share, for the quarter ended March 31, 2024. Excluding merger related expenses, adjusted earnings were $5.77 million1 , or $0.161 per diluted share for the first quarter of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Pennsylvania 82-5130531 (I.R.S. Employer I ...