LINKBANCORP, Inc. Secures Approval for New Jersey Branch Transfer to American Heritage

LINKBANCORP, Inc. Receives Regulatory Approvals for New Jersey Branch Sale

On March 26, 2025, LINKBANCORP, Inc. (NASDAQ: LNKB), the parent company of LINKBANK, announced significant progress in its strategic efforts by acquiring regulatory approvals for the sale of its New Jersey operations to American Heritage Federal Credit Union, headquartered in Philadelphia, Pennsylvania. This move is pivotal as it outlines LINKBANCORP's plans to streamline its operations while enabling American Heritage to expand its footprint in New Jersey.

The transaction is set to close on March 31, 2025, assuming that customary closing conditions are met. This sale encompasses three branches of LINKBANK along with the associated loans, deposits, and fixed assets that were acquired during LINKBANCORP's merger with Partners Bancorp in November 2023. The decision to divest these operations highlights LINKBANCORP's commitment to focus on its core regions and optimize its banking services across Pennsylvania, Maryland, Delaware, Virginia, and New Jersey, where it operates a total of 27 client solutions centers.

Strategic Implications

The sale to American Heritage Federal Credit Union marks a strategic alliance that will allow both financial institutions to better serve their customers. LINKBANCORP aims to enhance its community banking model by reallocating resources and focusing on service innovation, which aligns with its mission to positively impact lives. Meanwhile, this acquisition by American Heritage stands as a testament to its growth strategy, looking to bolster its client base and enhance service offerings in New Jersey.

In his commentary about the transaction, Nick West, Director of Corporate Development at LINKBANCORP, stated, “This decision aligns with our goal to concentrate our efforts on regions where we can make the most impact, and we believe American Heritage is well-positioned to serve the New Jersey community.” He emphasized that such strategic partnerships can help strengthen the community's access to quality financial services while contributing to the economic development of the area.

About LINKBANCORP

Established in 2018, LINKBANCORP is dedicated to community banking and providing tailored financial solutions for individuals, families, nonprofits, and businesses. With its headquarters in Camp Hill, Pennsylvania, LINKBANK offers a broad range of services, including personal and business banking, as well as financial planning resources. The bank is recognized for its commitment to customer-centric solutions and maintains a strong presence in several key states, evident through its extensive network of branches and digital services at www.linkbank.com.

LINKBANCORP's shares are traded on the Nasdaq Capital Market under the ticker symbol “LNKB,” a reflection of its robust market presence and growth trajectory. The recent regulatory approvals signify not just a tactical maneuver but a long-term vision in the competitive banking landscape.

Conclusion

As LINKBANCORP prepares for the closure of the sale, the regulatory approval signifies a notable shift in its operational strategy. This move opens new doors for both LINKBANCORP and American Heritage as they set the groundwork for a future focused on serving their respective communities and enhancing banking access in New Jersey. The financial world will be watching closely to see how this change will unfold and what it means for the future of the regional banking industry.