LINKBANCORP, Inc. | Stephens

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Financial Advisor


$105 Million Deposits 05/09/2024 Financial Institutions Pending
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Transaction Details

  • On May 9, 2024, LINKBANCORP, Inc. (“LINK”) (NASDAQ: LNKB) 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 transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2024
  • 100% cash consideration paid to LINK
  • $7.4 million deposit premium paid(1) to LINK
Sources: Company Press Release, Company Investor Presentation, S&P Global Market Intelligence.
  1. (1) Deposit premium is set at 7.0% of deposits acquired at closing.
    (2) Financial data as of 3/31/2024.
    (3) Non-GAPP financial measure.
    (4) After-tax financial impacts assume 21.0% tax rate.

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