HARRISBURG, Pa., Oct. 27, 2025 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank"), reported net income of $7.8 million, or $0.21 per diluted share, for the quarter ended September 30, 2025, compared to net income of $7.4 million, or $0.20 per diluted share, for the quarter ended June 30, 2025.
Additionally, the Company announced that the Board of Directors declared a quarterly cash dividend of $0.075 per share of common stock which is expected to be paid on December 15, 2025 to shareholders of record on November 28, 2025.
Third Quarter 2025 Highlights
-- Strong Core Earnings Growth Trend Continues. Net income grew in the third
quarter of 2025 to $7.8 million, compared to $7.4 million for the second
quarter of 2025 and $7.1 million for the third quarter of 2024. Adjusted
pre-tax pre-provision net income was $11.0 million1 for the third quarter
of 2025, compared to $9.8 million1 for the second quarter of 2025 and
$9.4 million1 for the third quarter of 2024, resulting in a linked
quarterly increase of $1.2 million or 12.07%. Annualized return on
average assets was 1.04% for the third quarter of 2025, compared to 1.05%
for the second quarter of 2025 and 1.00% for the third quarter of 2024.
-- 16.92% Year over Year Increase in Tangible Book Value. Book value per
share increased to $8.16 at September 30, 2025 compared to $7.96 at June
30, 2025. Tangible book value per share increased to $6.151 at September
30, 2025 compared to $5.921 at June 30, 2025 and $5.261 at September 30,
2024
-- Total Deposits Increase 8.62% from Prior Quarter End. Total deposits at
September 30, 2025 were $2.67 billion compared to $2.46 billion at June
30, 2025 and $2.45 billion at December 31, 2024, representing a quarterly
increase of $211.7 million or 34.19% annualized and a year-to-date
increase of $329.7 million2 or 18.75% annualized, adjusting for the
impact of the sale of banking operations and branches in New Jersey,
including related loans and deposits (the "Branch Sale") and change in
brokered deposits.
-- Quality Commercial Loan Growth. Total loans at September 30, 2025 were
$2.46 billion, compared to $2.36 billion at June 30, 2025 and $2.35
billion at December 31, 2024, representing a quarterly increase of $100.4
million or 16.90% annualized and a year-to-date increase of $207.4
million2 or 11.81% annualized excluding the impact of the Branch Sale.
-- Disciplined Expense Management. Noninterest expense for the third quarter
of 2025 was $18.2 million with an efficiency ratio of 62.25%, compared to
$18.1 million of noninterest expense with an efficiency ratio of 64.79%
for the second quarter of 2025, and $18.5 million of noninterest expense
with an efficiency ratio of 66.71% in the third quarter of 2024.
(1) See Appendix A -- Reconciliation to Non-GAAP Financial Measures for the
computation of this non-GAAP measure.
(2) See Loan and Deposit Tables for total loan and deposit growth
reconciliations.
"We are pleased to announce another strong quarter of record core earnings accompanied by robust growth in core deposits and quality loans that position us well for a strong finish to 2025 and increasing momentum into the new year," said Andrew Samuel, Chief Executive Officer of LINKBANCORP. "Each of our markets are contributing to these results and we are proud of the exceptional performance of our teams as they navigate through the current environment."
Income Statement
Net interest income before the provision for credit losses for the third quarter of 2025 was $26.4 million compared to $24.9 million in the second quarter of 2025 and $25.0 million for the third quarter of 2024. Net interest margin was 3.75% for the third quarter of 2025 compared to 3.80% for the second quarter of 2025, and 3.82% for the third quarter of 2024. Net interest margin was impacted by the strong growth in core deposits and timing on loan fundings, resulting in higher average cash of $190.6 million for the quarter ending September 30, 2025 compared to $114.3 million for the quarter ending June 30, 2025. The spread on interest rates was stable quarter over quarter as the average loan yield increased from 6.22% for the second quarter of 2025 to 6.26% for the third quarter of 2025, while the cost of funds increased from 2.31% for the second quarter of 2025 to 2.34% for the third quarter of 2025. Interest income from purchase accounting accretion during the third quarter of 2025 was approximately $71 thousand more than that recognized in the second quarter of 2025 and $636 thousand less than the third quarter of 2024.
Noninterest income decreased slightly quarter-over-quarter to $2.8 million for the third quarter of 2025 compared to $2.9 million for the second quarter of 2025. Year-over-year, noninterest income increased $125 thousand from $2.7 million for the third quarter of 2024.
Noninterest expense for the third quarter of 2025 was $18.2 million compared to $18.1 million for the second quarter of 2025 and $18.5 million for the third quarter of 2024. Noninterest expense increased slightly from the prior quarter primarily due to an increase in employee health insurance costs.
Income tax expense was $2.2 million for the third quarter of 2025, reflecting an effective tax rate of 21.7% compared to $2.1 million for the second quarter of 2025, reflecting an effective tax rate of 22.0% and $2.0 million for the third quarter of 2024, reflecting an effective tax rate of 22.2%.
(1) See Appendix A -- Reconciliation to Non-GAAP Financial Measures for the computation of this Non-GAAP measure.
Balance Sheet
Total assets were $3.12 billion at September 30, 2025 compared to $2.89 billion at June 30, 2025 and $2.88 billion at December 31, 2024. Deposits and net loans as of September 30, 2025 totaled $2.67 billion and $2.43 billion, respectively, compared to deposits and net loans of $2.46 billion and $2.33 billion, respectively at June 30, 2025 and $2.36 billion and $2.23 billion, respectively, at December 31, 2024. Deposits and net loans exclude recorded balances held for sale in the Branch Sale of $93.6 million and $91.8 million, respectively, at December 31, 2024, which are reflected within liabilities held for sale and assets held for sale.
Total loans at September 30, 2025 were $2.46 billion, compared to $2.36 billion at June 30, 2025, representing an increase of $100.4 million, with the majority of the growth in commercial loans. Year-to-date, total loans have increased $207.4 million(2) from December 31, 2024, excluding the impact of the Branch Sale, or 11.81% annualized. Total commercial loan commitments originated in the third quarter of 2025 were $235.9 million with funded balances of $177.4 million. The average commercial loan commitment originated during the third quarter of 2025 totaled approximately $1.2 million with an average outstanding funded balance of $924 thousand. Total deposits at September 30, 2025 were $2.67 billion compared to $2.46 billion at June 30, 2025, representing an increase of $211.7 million or 34.19% annualized. This robust growth reflected a continued focus on core deposit generation, particularly from commercial relationships, and included strong inflows into interest checking accounts from professional services clients and money market accounts from commercial clients. Year-to-date, total deposits have increased $329.7 million(2) from December 31, 2024, or 18.75%, adjusting for the impact of the Branch Sale and change in brokered deposits. Noninterest bearing deposits totaled $640.1 million at September 30, 2025, slightly down from $646.7 million at June 30, 2025. Brokered deposits remained flat at $75.0 million at each quarter end. Average deposits increased $159.4 million from $2.34 billion for the three months ended June 30, 2025 to $2.50 billion for the three months ended September 30, 2025.
The Company continues to maintain strong on-balance sheet liquidity, as cash and cash equivalents were $194.2 million at September 30, 2025 compared to $155.1 million at June 30, 2025 and $166.1 million at December 31, 2024. As a result of the Company's strong core deposit growth, excess cash was redeployed into purchases of available for sale securities with balances of $267.9 million at September 30, 2025 compared to $169.6 million at June 30, 2025.
Shareholders' equity increased to $305.5 million at September 30, 2025 from $298.0 million at June 30, 2025 primarily as a result of a $5.1 million increase in retained earnings. Book value per share increased to $8.16 at September 30, 2025 compared to $7.96 at June 30, 2025. Tangible book value per share increased to $6.15(1) at September 30, 2025 compared to $5.92(1) at June 30, 2025 and $5.26(1) at September 30, 2024, representing 16.92% growth year over year.
(1) See Appendix A -- Reconciliation to Non-GAAP Financial Measures for the computation of this Non-GAAP measure. (2) See Loan and Deposit Tables for total loan and deposit growth reconciliations.
Asset Quality
The Company recorded a $1.0 million provision for credit losses during the third quarter of 2025, after recording a $344 thousand provision for credit losses in the second quarter of 2025.
The increase in provision was primarily related to commercial loan growth during the third quarter of 2025.
Delinquencies improved over the prior quarter, as loans 30-89 days past due at September 30, 2025 were $4.73 million, representing 0.19% of total loans compared to $14.5 million or 0.62% of total loans at June 30, 2025 and $2.9 million or 0.13% of total loans at December 31, 2024. As of September 30, 2025, the Company's non-performing assets increased slightly to $24.6 million, representing 0.79% of total assets, compared to $21.9 million, representing 0.76% of total assets at June 30, 2025. The increase in non-performing assets was primarily related to one commercial loan secured by a perfected first lien on real estate that is properly margined.
The allowance for credit losses for loans was $25.3 million, or 1.03% of total loans held for investment at September 30, 2025, compared to $24.7 million, or 1.05% of total loans held for investment at June 30, 2025. The ratio of the allowance for credit losses for loans to nonperforming assets was 102.90% at September 30, 2025, compared to 112.68% at June 30, 2025.
The Company recorded $300 thousand in net charge-offs during the third quarter of 2025 compared to $40 thousand for the second quarter of 2025. The charge-off was due to one loan which previously had a specific allocated reserve.
Capital
The Bank's regulatory capital ratios were well in excess of regulatory minimums to be considered "well capitalized" as of September 30, 2025. The Bank's Total Capital Ratio and Tier 1 Capital Ratio were 12.31% and 11.39% respectively, at September 30, 2025, compared to 12.43% and 11.51%, respectively, at June 30, 2025 and 11.44% and 10.62%, respectively, at September 30, 2024. The Company's ratio of Tangible Common Equity to Tangible Assets was 7.55%(1) at September 30, 2025 compared to 7.89%(1) at June 30, 2025 and 7.02%(1) at September 30, 2024.
(1) See Appendix A -- Reconciliation to Non-GAAP Financial Measures for the computation of this Non-GAAP measure.
ABOUT LINKBANCORP, Inc.
LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, LINKBANK, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Pennsylvania, Maryland, Delaware and Virginia, through 24 client solutions centers and www.linkbank.com. LINKBANCORP, Inc. common stock is traded on the Nasdaq Capital Market under the symbol "LNKB". For further company information, visit ir.linkbancorp.com.
Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties associated with newly developed or acquired operations; changes in general economic trends, including inflation, tariffs and changes in interest rates; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; adverse developments in borrower industries and, in particular, declines in real estate values; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and the effects of any cybersecurity breaches. The Company does not undertake, and specifically disclaims, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.
LB-E
LB-D
LINKBANCORP, Inc. and Subsidiaries
Consolidated Balance Sheet (Unaudited)
September 30, June 30, March 31, December 31, September 30,
2025 2025 2025 2024 2024
---------------- --------------- ----------------- --------------- ----------------
(In Thousands,
except share and per
share data)
ASSETS
Noninterest-bearing
cash equivalents $ 15,321 $ 15,319 $ 14,830 $ 13,834 $ 15,295
Interest-bearing
deposits with other
institutions 178,832 139,764 205,352 152,266 175,937
---------------- --------------- ----------------- --------------- ----------------
Cash and cash
equivalents 194,153 155,083 220,182 166,100 191,232
Securities available
for sale, at fair
value 267,930 169,569 159,183 145,590 149,315
Securities held to
maturity, net of
allowance for credit
losses 26,595 26,809 27,662 31,508 34,155
Loans receivable,
gross 2,456,977 2,356,609 2,273,941 2,255,749 2,215,868
Allowance for credit
losses - loans (25,342) (24,651) (26,619) (26,435) (26,542)
---------------- --------------- ----------------- --------------- ----------------
Loans receivable, net 2,431,635 2,331,958 2,247,322 2,229,314 2,189,326
---------------- --------------- ----------------- --------------- ----------------
Investments in
restricted bank
stock 4,791 4,821 4,780 5,209 4,904
Premises and
equipment, net 15,822 15,861 17,920 18,029 17,623
Right-of-Use Asset --
premises 15,632 15,410 14,537 14,913 14,150
Bank-owned life
insurance 53,263 52,943 52,507 52,079 51,646
Goodwill and other
intangible assets 75,213 76,296 77,379 79,761 80,924
Deferred tax asset 15,925 16,474 16,729 18,866 21,662
Assets held for sale -- -- -- 94,146 104,660
Accrued interest
receivable and other
assets 22,334 21,330 23,288 23,263 20,344
TOTAL ASSETS $ 3,123,293 $ 2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,941
================ =============== ================= =============== ================
LIABILITIES
Deposits:
Demand, noninterest
bearing $ 640,100 $ 646,654 $ 646,002 $ 658,646 $ 658,473
Interest bearing 2,027,999 1,809,755 1,787,692 1,701,936 1,714,179
---------------- --------------- ----------------- --------------- ----------------
Total deposits 2,668,099 2,456,409 2,433,694 2,360,582 2,372,652
Long-term borrowings 40,000 40,000 40,000 40,000 40,000
Short-term
borrowings -- -- -- 10,000 --
Note payable -- -- 559 565 572
Subordinated debt 62,255 62,279 62,129 61,984 61,843
Lease liabilities 15,965 15,740 15,284 15,666 14,911
Liabilities held for
sale -- -- -- 93,777 94,228
Accrued interest
payable and other
liabilities 31,517 14,128 15,757 15,983 18,382
TOTAL LIABILITIES 2,817,836 2,588,556 2,567,423 2,598,557 2,602,588
---------------- --------------- ----------------- --------------- ----------------
SHAREHOLDERS' EQUITY
Preferred stock -- -- -- -- --
Common stock 370 370 370 370 370
Surplus 265,637 265,293 264,871 264,449 264,059
Retained earnings 42,157 37,107 32,507 19,947 15,147
Accumulated other
comprehensive loss (2,707) (4,772) (3,682) (4,545) (2,223)
TOTAL SHAREHOLDERS'
EQUITY 305,457 297,998 294,066 280,221 277,353
---------------- --------------- ----------------- --------------- ----------------
TOTAL LIABILITIES AND
SHAREHOLDERS'
EQUITY $ 3,123,293 $ 2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,941
================ =============== ================= =============== ================
Common shares
outstanding 37,447,026 37,441,879 37,377,342 37,370,917 37,361,560
LINKBANCORP, Inc. and Subsidiaries
Consolidated Statements of Operations (Unaudited)
Three Months Ended Nine Months Ended
------------------------------------------------- --------------------------------
9/30/2025 6/30/2025 9/30/2024 9/30/2025 9/30/2024
--------------- --------------- --------------- --------------- ---------------
(In Thousands,
except share and
per share data)
INTEREST AND
DIVIDEND INCOME
Loans receivable,
including fees $ 37,755 $ 36,032 $ 36,856 $ 110,828 $ 109,093
Other 4,269 3,294 3,338 10,664 9,325
---------------
Total interest and
dividend income 42,024 39,326 40,194 121,492 118,418
INTEREST EXPENSE
Deposits 13,677 12,467 13,292 38,501 38,210
Other Borrowings 950 931 949 2,867 2,967
Subordinated Debt 1,011 979 972 2,958 2,892
---------------
Total interest
expense 15,638 14,377 15,213 44,326 44,069
NET INTEREST
INCOME BEFORE
PROVISION FOR
CREDIT LOSSES 26,386 24,949 24,981 77,166 74,349
Provision for
credit losses 1,003 344 84 1,575 125
--------------- --------------- --------------- --------------- ---------------
NET INTEREST
INCOME AFTER
PROVISION FOR
CREDIT LOSSES 25,383 24,605 24,897 75,591 74,224
NONINTEREST
INCOME
Service charges on
deposit accounts 1,120 1,056 1,052 3,237 2,697
Bank-owned life
insurance 463 436 430 1,327 1,199
Net realized gains
(losses) on the
sale of debt
securities -- -- -- -- 4
Gain on sale of
loans 156 128 138 361 200
Gain on sale of
branches -- -- -- 11,093 --
Other 1,066 1,313 1,060 2,977 2,167
---------------
Total noninterest
income 2,805 2,933 2,680 18,995 6,267
NONINTEREST
EXPENSE
Salaries and
employee
benefits 10,513 10,252 9,855 31,921 30,914
Occupancy 1,356 1,308 1,440 4,128 4,577
Equipment and data
processing 2,063 2,052 1,640 6,158 5,290
Professional fees 593 728 763 1,808 2,299
FDIC insurance and
supervisory fees 439 537 812 1,575 1,709
Intangible
amortization 1,083 1,083 1,205 3,250 3,615
Merger &
restructuring
expenses -- 16 171 57 858
Advertising 128 176 163 448 505
Other 1,996 1,913 2,403 6,549 6,834
---------------
Total noninterest
expense 18,171 18,065 18,452 55,894 56,601
--------------- --------------- --------------- --------------- ---------------
Income before
income tax
expense 10,017 9,473 9,125 38,692 23,890
Income tax expense 2,178 2,086 2,030 8,123 5,265
--------------- --------------- --------------- --------------- ---------------
NET INCOME $ 7,839 $ 7,387 $ 7,095 $ 30,569 $ 18,625
=============== =============== =============== =============== ===============
EARNINGS PER
SHARE, BASIC $ 0.21 $ 0.20 $ 0.19 $ 0.82 $ 0.50
=============== =============== =============== =============== ===============
EARNINGS PER
SHARE, DILUTED $ 0.21 $ 0.20 $ 0.19 $ 0.82 $ 0.50
=============== =============== =============== =============== ===============
WEIGHTED-AVERAGE
COMMON SHARES
OUTSTANDING,
BASIC 37,192,313 37,136,851 36,983,637 37,146,280 36,972,127
DILUTED 37,335,646 37,244,008 37,090,111 37,257,831 37,061,512
LINKBANCORP, Inc. and Subsidiaries
Financial Highlights (Unaudited)
For the Three Months Ended For the Nine Months Ended
------------------------------------------------ -------------------------------
(Dollars In Thousands,
except per share data) 9/30/2025 6/30/2025 9/30/2024 9/30/2025 9/30/2024
-------------- --------------- --------------- -------------- ---------------
Operating Highlights
Net Income $ 7,839 $ 7,387 $ 7,095 $ 30,569 $ 18,625
Net Interest Income 26,386 24,949 24,981 77,166 74,349
Provision for Credit
Losses 1,003 344 84 1,575 125
Non-Interest Income 2,805 2,933 2,680 18,995 6,267
Non-Interest Expense 18,171 18,065 18,452 55,894 56,601
Earnings per Share,
Basic 0.21 0.20 0.19 0.82 0.50
Adjusted Earnings per
Share, Basic (2) 0.21 0.20 0.20 0.61 0.52
Earnings per Share,
Diluted 0.21 0.20 0.19 0.82 0.50
Adjusted Earnings per
Share, Diluted (2) 0.21 0.20 0.19 0.61 0.52
Selected Operating
Ratios
Net Interest Margin 3.75 % 3.80 % 3.82 % 3.82 % 3.89 %
Annualized Return on
Assets ("ROA") 1.04 % 1.05 % 1.00 % 1.41 % 0.90 %
Adjusted ROA(2) 1.04 % 1.05 % 1.02 % 1.05 % 0.93 %
Annualized Return on
Equity ("ROE") 10.33 % 10.04 % 10.30 % 13.93 % 9.20 %
Adjusted ROE(2) 10.33 % 10.06 % 10.50 % 10.32 % 9.53 %
Efficiency Ratio 62.25 % 64.79 % 66.71 % 58.13 % 70.21 %
Adjusted Efficiency
Ratio(3) 62.25 % 64.73 % 66.09 % 64.61 % 69.15 %
Noninterest Income to
Avg. Assets 0.37 % 0.42 % 0.38 % 0.88 % 0.30 %
Noninterest Expense to
Avg. Assets 2.42 % 2.57 % 2.61 % 2.59 % 2.73 %
9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024
-------------- --------------- --------------- -------------- ---------------
Financial Condition Data
Total Assets $ 3,123,293 $ 2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,941
Loans Receivable, Net 2,431,635 2,331,958 2,247,322 2,229,314 2,189,326
Noninterest-bearing
Deposits 640,100 646,654 646,002 658,646 658,473
Interest-bearing
Deposits 2,027,999 1,809,755 1,787,692 1,701,936 1,714,179
-------------- --------------- --------------- -------------- ---------------
Total Deposits $ 2,668,099 $ 2,456,409 $ 2,433,694 $ 2,360,582 $ 2,372,652
Selected Balance Sheet
Ratios
Total Capital Ratio(1) 12.31 % 12.43 % 12.61 % 11.55 % 11.44 %
Tier 1 Capital Ratio(1) 11.39 % 11.51 % 11.71 % 10.74 % 10.62 %
Common Equity Tier 1
Capital Ratio(1) 11.39 % 11.51 % 11.71 % 10.74 % 10.62 %
Leverage Ratio(1) 9.95 % 10.34 % 10.02 % 9.49 % 9.41 %
Tangible Common Equity
to Tangible Assets(4) 7.55 % 7.89 % 7.78 % 7.16 % 7.02 %
Tangible Book Value per
Share(5) $ 6.15 $ 5.92 $ 5.80 $ 5.36 $ 5.26
Asset Quality Data
Non-performing Assets $ 24,627 $ 21,877 $ 26,041 $ 17,173 $ 17,378
Non-performing Assets to
Total Assets 0.79 % 0.76 % 0.91 % 0.60 % 0.60 %
Non-performing Loans to
Total Loans 1.00 % 0.93 % 1.15 % 0.76 % 0.78 %
Allowance for Credit
Losses - Loans
("ACLL") $ 25,342 $ 24,651 $ 26,619 $ 26,435 $ 26,542
ACLL to Total Loans 1.03 % 1.05 % 1.17 % 1.17 % 1.20 %
ACLL to Nonperforming
Assets 102.90 % 112.68 % 102.22 % 153.93 % 152.73 %
Net chargeoffs
(recoveries)(6) $ 300 $ 40 $ 81 $ 252 $ (28)
(1) - These capital ratios have been calculated using bank-level capital
(2) - This is a non-GAAP financial measure. See our reconciliation of non-GAAP
financial measures to their most directly comparable GAAP financial measures
at the end of this release.
(3) - The efficiency ratio, as adjusted represents noninterest expense divided
by the sum of net interest income and noninterest income, excluding gains or
losses from securities sales and merger related expenses. This is a non-GAAP
financial measure. See our reconciliation of non-GAAP financial measures to
their most directly comparable GAAP financial measures at the end of this
release.
(4) - We calculate tangible common equity as total shareholders' equity less
goodwill and other intangibles, and we calculate tangible assets as total
assets less goodwill and other intangibles. This is a non-GAAP financial
measure. See our reconciliation of non-GAAP financial measures to their most
directly comparable GAAP financial measures at the end of this release.
(5) - We calculate tangible book value per common share as total shareholders'
equity less goodwill and other intangibles, divided by the outstanding number
of shares of our common stock at the end of the relevant period. Tangible book
value per common share is a non-GAAP financial measure, and, as we calculate
tangible book value per common share, the most directly comparable GAAP
financial measure is book value per common share. See our reconciliation of
non-GAAP financial measures to their most directly comparable GAAP financial
measures at the end of this release.
(6) - Charge offs for the three months ended June 30, 2025 do not include the
impact of a settlement of a purchase credit deteriorated loan ("PCD") that
resulted in a net decrease to the allowance of $2.0 million, which was covered
by a specific reserve established on this PCD loan at the time of
acquisition.
LINKBANCORP, Inc. and Subsidiaries
Net Interest Margin - Quarter-To-Date (Unaudited)
For the Three Months Ended September 30,
------------------------------------------------------------------------------
2025 2024
-------------------------------------- --------------------------------------
Interest Interest
(Dollars in thousands) Avg Bal (2) Yield/Rate Avg Bal (2) Yield/Rate
-------------- ---------- ---------- -------------- ---------- ----------
Int. Earn. Cash $ 190,584 $ 1,893 3.94 % $ 114,383 $ 1,296 4.51 %
Securities
Taxable (1) 162,865 2,089 5.09 % 133,443 1,683 5.02 %
Tax-Exempt 42,763 363 3.37 % 42,800 453 4.21 %
-------------- ---------- ---------- -------------- ---------- ----------
Total Securities 205,628 2,452 4.73 % 176,243 2,136 4.82 %
-------------- ---------- ---------- -------------- ---------- ----------
Total Cash Equiv. and
Investments 396,212 4,345 4.35 % 290,626 3,432 4.70 %
Total Loans (3) 2,393,119 37,755 6.26 % 2,313,228 36,856 6.34 %
-------------- ---------- ---------- -------------- ---------- ----------
Total Earning Assets 2,789,331 42,100 5.99 % 2,603,854 40,288 6.16 %
Other Assets 194,442 208,407
-------------- --------------
Total Assets $ 2,983,773 $ 2,812,261
============== ==============
Interest bearing demand $ 592,572 3,498 2.34 % $ 497,100 2,902 2.32 %
Money market demand 635,450 3,985 2.49 % 580,766 3,396 2.33 %
Time deposits 623,505 6,194 3.94 % 613,402 6,993 4.54 %
Total Borrowings 153,493 1,961 5.07 % 153,699 1,922 4.97 %
-------------- ---------- ---------- -------------- ---------- ----------
Total Interest-Bearing
Liabilities 2,005,020 15,638 3.09 % 1,844,967 15,213 3.28 %
Non Interest-Bearing
Deposits 646,608 659,825
-------------- ---------- ---------- -------------- ---------- ----------
Total Cost of Funds 2,651,628 15,638 2.34 % 2,504,792 15,213 2.42 %
---------- ---------- ---------- ----------
Other Liabilities 31,044 33,534
-------------- --------------
Total Liabilities 2,682,672 2,538,326
-------------- --------------
Shareholders' Equity 301,101 273,935
-------------- --------------
Total Liabilities &
Shareholders' Equity $ 2,983,773 $ 2,812,261
============== ==============
Net Interest
Income/Spread (FTE) 26,462 2.90 % 25,075 2.88 %
Tax-Equivalent Basis
Adjustment (76) (94)
---------- ----------
Net Interest Income $ 26,386 $ 24,981
========== ==========
Net Interest Margin 3.75 % 3.82 %
(1) Taxable income on securities includes income from available for sale
securities and income from certificates of deposits with other banks.
(2) Income stated on a tax equivalent basis which is a non-GAAP measure and
reconciled to GAAP at the bottom of the table
(3) Includes the balances of nonaccrual loans
LINKBANCORP, Inc. and Subsidiaries
Net Interest Margin - Linked Quarter-To-Date (Unaudited)
For the Three Months Ended
----------------------------------------------------------------------------------
September 30, 2025 June 30, 2025
---------------------------------------- ----------------------------------------
Interest Interest
(Dollars in thousands) Avg Bal (2) Yield/Rate Avg Bal (2) Yield/Rate
--------------- ----------- ---------- --------------- ----------- ----------
Int. Earn. Cash $ 190,584 $ 1,893 3.94 % $ 114,315 $ 1,097 3.85 %
Securities
Taxable (1) 162,865 2,089 5.09 % 152,185 1,819 4.79 %
Tax-Exempt 42,763 363 3.37 % 42,688 478 4.49 %
--------------- ----------- ---------- --------------- ----------- ----------
Total Securities 205,628 2,452 4.73 % 194,873 2,297 4.73 %
--------------- ----------- ---------- --------------- ----------- ----------
Total Cash Equiv. and
Investments 396,212 4,345 4.35 % 309,188 3,394 4.40 %
Total Loans (3) 2,393,119 37,755 6.26 % 2,324,897 36,032 6.22 %
--------------- ----------- ---------- --------------- ----------- ----------
Total Earning Assets 2,789,331 42,100 5.99 % 2,634,085 39,426 6.00 %
Other Assets 194,442 183,156
--------------- ---------------
Total Assets $ 2,983,773 $ 2,817,241
=============== ===============
Interest bearing demand $ 592,572 3,498 2.34 % $ 547,177 3,207 2.35 %
Money market demand 635,450 3,985 2.49 % 553,294 3,099 2.25 %
Time deposits 623,505 6,194 3.94 % 609,322 6,161 4.06 %
Total Borrowings 153,493 1,961 5.07 % 152,668 1,910 5.02 %
--------------- ----------- ---------- --------------- ----------- ----------
Total Interest-Bearing
Liabilities 2,005,020 15,638 3.09 % 1,862,461 14,377 3.10 %
Non Interest-Bearing
Deposits 646,608 628,962
--------------- ----------- ---------- --------------- ----------- ----------
Total Cost of Funds 2,651,628 15,638 2.34 % 2,491,423 14,377 2.31 %
----------- ---------- ----------- ----------
Other Liabilities 31,044 30,815
--------------- ---------------
Total Liabilities 2,682,672 2,522,238
--------------- ---------------
Shareholders' Equity 301,101 295,003
--------------- ---------------
Total Liabilities &
Shareholders' Equity $ 2,983,773 $ 2,817,241
=============== ===============
Net Interest
Income/Spread (FTE) 26,462 2.90 % 25,049 2.90 %
Tax-Equivalent Basis
Adjustment (76) (100)
----------- -----------
Net Interest Income $ 26,386 $ 24,949
=========== ===========
Net Interest Margin 3.75 % 3.80 %
(1) Taxable income on securities includes income from available for sale
securities and income from certificates of deposits with other banks.
(2) Income stated on a tax equivalent basis which is a non-GAAP measure and
reconciled to GAAP at the bottom of the table
(3) Includes the balances of nonaccrual loans
LINKBANCORP, Inc. and Subsidiaries
Net Interest Margin - Year-To-Date (Unaudited)
For the Nine Months Ended September 30,
--------------------------------------------------------------------------------
2025 2024
--------------------------------------- ---------------------------------------
Interest Interest
(Dollars in thousands) Avg Bal (2) Yield/Rate Avg Bal (2) Yield/Rate
-------------- ----------- ---------- -------------- ----------- ----------
Int. Earn. Cash $ 138,531 $ 3,962 3.82 % $ 106,334 $ 3,590 4.51 %
Securities
Taxable (1) 155,818 5,657 4.85 % 125,264 4,666 4.98 %
Tax-Exempt 43,142 1,323 4.10 % 42,606 1,353 4.24 %
-------------- ----------- ---------- -------------- ----------- ----------
Total Securities 198,960 6,980 4.69 % 167,870 6,019 4.79 %
-------------- ----------- ---------- -------------- ----------- ----------
Total Cash Equiv. and
Investments 337,491 10,942 4.33 % 274,204 9,609 4.68 %
Total Loans (3) 2,360,524 110,828 6.28 % 2,279,378 109,093 6.39 %
-------------- ----------- ---------- -------------- ----------- ----------
Total Earning Assets 2,698,015 121,770 6.03 % 2,553,582 118,702 6.21 %
Other Assets 192,203 210,962
-------------- --------------
Total Assets $ 2,890,218 $ 2,764,544
============== ==============
Interest bearing demand $ 564,320 $ 9,753 2.31 % $ 458,184 $ 7,301 2.13 %
Money market demand 584,401 10,021 2.29 % 582,998 9,841 2.25 %
Time deposits 623,723 18,727 4.01 % 621,881 21,068 4.53 %
Total Borrowings 151,403 5,825 5.14 % 147,557 5,859 5.30 %
-------------- ----------- -------------- -----------
Total Interest-Bearing
Liabilities 1,923,847 44,326 3.08 % 1,810,620 44,069 3.25 %
Non Interest-Bearing
Deposits 641,967 650,384
-------------- ----------- ---------- -------------- ----------- ----------
Total Cost of Funds $ 2,565,814 $ 44,326 2.31 % $ 2,461,004 $ 44,069 2.39 %
----------- ---------- ----------- ----------
Other Liabilities 31,092 33,086
-------------- --------------
Total Liabilities $ 2,596,906 $ 2,494,090
-------------- --------------
Shareholders' Equity $ 293,312 $ 270,454
-------------- --------------
Total Liabilities &
Shareholders' Equity $ 2,890,218 $ 2,764,544
============== ==============
Net Interest
Income/Spread (FTE) 77,444 2.95 % 74,633 2.96 %
Tax-Equivalent Basis
Adjustment (278) (284)
----------- -----------
Net Interest Income $ 77,166 $ 74,349
=========== ===========
Net Interest Margin 3.82 % 3.89 %
(1) Taxable income on securities includes income from available for sale
securities and income from certificates of deposits with other banks.
(2) Income stated on a tax equivalent basis which is a non-GAAP measure and
reconciled to GAAP at the bottom of the table
(3) Includes the balances of nonaccrual loans
LINKBANCORP, Inc. and Subsidiaries
Loans Receivable Detail (Unaudited)
September 30, June 30, March 31, December 31, September 30,
(In Thousands) 2025 2025 2025 2024 2024
----------------- ----------------- --------------- ---------------- -----------------
Agriculture and
farmland loans $ 62,098 $ 61,996 $ 66,684 $ 67,741 $ 65,166
Construction
loans 155,542 140,976 136,421 158,296 175,373
Commercial &
industrial
loans 266,765 259,877 257,302 252,163 241,597
Commercial real
estate loans
Multifamily 236,534 231,469 215,916 217,331 212,444
Owner
occupied 522,674 502,515 472,895 493,906 500,643
Non-owner
occupied 730,740 681,521 645,793 658,615 626,030
Residential real
estate loans
First liens 377,226 375,879 378,420 399,476 400,869
Second liens
and lines of
credit 84,395 81,194 79,905 78,410 73,591
Consumer and
other loans 17,645 17,525 17,097 17,087 17,498
Municipal loans 2,816 2,917 3,012 3,886 4,296
----------------- ----------------- --------------- ---------------- -----------------
2,456,435 2,355,869 2,273,445 2,346,911 2,317,507
Deferred costs 542 740 496 645 634
Total loans
receivable 2,456,977 2,356,609 2,273,941 2,347,556 2,318,141
----------------- ----------------- --------------- ---------------- -----------------
Less: Loans held
for sale -- -- -- 91,807 102,273
Loans Held for
Investment $ 2,456,977 $ 2,356,609 $ 2,273,941 $ 2,255,749 $ 2,215,868
================= ================= =============== ================ =================
LINKBANCORP, Inc. and Subsidiaries
Loan Growth Calculation Excluding Branch Sale (Unaudited)
September 30,
(In Thousands) 2025
-----------------
Total Loans at September 30, 2025 $ 2,456,977
Total Loans at December 31, 2024 2,347,556
-----------------
Year-to-date Change 109,421
Net Book Value of Loans Sold 97,952
-----------------
Loan Growth Excluding Branch Sale 207,373
Annualized Growth Rate 11.81 %
LINKBANCORP, Inc. and Subsidiaries
Investments in Securities Detail (Unaudited)
September 30, 2025
------------------------------------------------
Net
Amortized Unrealized Gains Fair
(In Thousands) Cost (Losses) Value
----------- ---------------------- -----------
Available for Sale:
US Government Agency
securities $ 11,257 $ 322 $ 11,579
Obligations of state
and political
subdivisions 50,731 (2,761) 47,970
Mortgage-backed
securities in
government-sponsored
entities 209,168 (1,120) 208,048
Other securities 341 (8) 333
$ 271,497 $ (3,567) $ 267,930
=========== ====================== ===========
Amortized Allowance for
Cost Net Unrealized Losses Fair Value Credit Losses
----------- ---------------------- ----------- -------------------
Held to Maturity:
Corporate debentures $ 12,250 $ (651) $ 11,599 $ (387)
Structured
mortgage-backed
securities 14,732 (307) 14,425 --
$ 26,982 $ (958) $ 26,024 $ (387)
=========== ====================== =========== ===================
December 31, 2024
------------------------------------------------
Net
Amortized Unrealized Gains Fair
(In Thousands) Cost (Losses) Value
----------- ---------------------- -----------
Available for Sale:
US Government Agency
securities $ 13,017 $ 56 $ 13,073
Obligations of state
and political
subdivisions 51,254 (4,053) 47,201
Mortgage-backed
securities in
government-sponsored
entities 88,289 (3,506) 84,783
Other securities 542 (9) 533
$ 153,102 $ (7,512) $ 145,590
=========== ====================== ===========
Amortized Allowance for
Cost Net Unrealized Losses Fair Value Credit Losses
----------- ---------------------- ----------- -------------------
Held to Maturity:
Corporate debentures $ 15,250 $ (984) $ 14,266 $ (459)
Structured
mortgage-backed
securities 16,717 (699) 16,018 --
$ 31,967 $ (1,683) $ 30,284 $ (459)
=========== ====================== =========== ===================
LINKBANCORP, Inc. and Subsidiaries
Deposits Detail (Unaudited)
March 31,
(In Thousands) September 30, 2025 June 30, 2025 2025 December 31, 2024 September 30, 2024
------------------------------ ----------------- ------------- ------------------- ------------------
Demand,
noninterest-bearing $ 640,100 $ 646,654 $ 646,002 $ 686,510 $ 687,536
Demand,
interest-bearing 677,496 576,050 577,170 537,546 547,099
Money market and
savings 656,727 580,143 553,240 553,807 585,395
Time deposits, $250
and over 201,648 177,897 166,441 167,165 169,616
Time deposits, other 417,128 400,665 387,226 405,493 401,976
Brokered deposits 75,000 75,000 103,615 103,615 75,000
------------------------------ ----------------- ------------- ------------------- ------------------
2,668,099 2,456,409 2,433,694 2,454,136 2,466,622
Less: Deposits held
for sale -- -- -- 93,554 93,970
------------------------------ ----------------- ------------- ------------------- ------------------
Total deposits $ 2,668,099 $ 2,456,409 $ 2,433,694 $ 2,360,582 $ 2,372,652
============================== ================= ============= =================== ==================
Average Deposits Detail, for the Three Months Ended (Unaudited)
March 31,
(In Thousands) September 30, 2025 June 30, 2025 2025 December 31, 2024 September 30, 2024
------------------------------ ----------------- ------------- ------------------- ------------------
Demand,
noninterest-bearing $ 646,608 $ 628,962 $ 649,440 $ 665,276 $ 659,825
Demand,
interest-bearing 592,572 547,177 545,475 537,856 497,100
Money market and
savings 635,450 553,294 555,663 567,593 580,766
Time deposits 599,048 575,205 576,366 568,615 560,815
Brokered deposits 24,457 34,117 56,283 38,616 52,587
Total deposits $ 2,498,135 $ 2,338,755 $ 2,383,227 $ 2,377,956 $ 2,351,093
============================== ================= ============= =================== ==================
Balances in table above include deposits held for sale for the three months
ended December 31, 2024 and September 30, 2024.
LINKBANCORP, Inc. and Subsidiaries
Total Deposit Growth Calculation Adjusting for Branch Sale and Change in
Brokered Deposits (Unaudited)
(In Thousands) September 30, 2025
-----------------------
Total Deposits at September 30, 2025 $ 2,668,099
Less: Brokered Deposits at September 30, 2025 (75,000)
-----------------------
Total Core Deposits at September 30, 2025 $ 2,593,099
Total Deposits at December 31, 2024 $ 2,454,136
Less: Brokered Deposits at December 31, 2024 (103,615)
-----------------------
Total Core Deposits at December 31, 2024 $ 2,350,521
Year-to-date Change in Core Deposits 242,578
Net Book Value of Deposits Sold 87,086
-----------------------
Quarterly Deposit Growth Excluding Branch Sale 329,664
Annualized Growth Rate 18.75 %
Appendix A -- Reconciliation to Non-GAAP Financial Measures
This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these non-GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by us. As a complement to GAAP financial measures, our management believes these non-GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-GAAP measures. See the tables below for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.
Adjusted Return on Average Assets
----------------------------------------------------------------------------------------------------
For the Three Months Ended For the Nine Months Ended
---------------------------------------------- --------------------------
(Dollars in thousands) 9/30/2025 6/30/2025 9/30/2024 9/30/2025 9/30/2024
-------------- -------------- -------------- ------------- -----------
Net income $ 7,839 $ 7,387 $ 7,095 $ 30,569 $ 18,625
Average assets 2,983,773 2,817,241 2,812,261 2,890,218 2,764,544
Return on average assets
(annualized) 1.04 % 1.05 % 1.00 % 1.41 % 0.90 %
Net income $ 7,839 $ 7,387 $ 7,095 30,569 18,625
Gain on sale of
branches -- -- -- (11,093) --
Tax effect(1) -- -- -- 2,440 --
Transaction bonus
accrual -- -- -- 490 --
Tax effect(1) -- -- -- (108) --
Board restructuring
accrual -- -- -- 381 --
Tax effect(1) -- -- -- (84) --
Net losses on sale of
securities -- -- -- -- (4)
Tax effect(1) -- -- -- -- 1
Merger & restructuring
expenses -- 16 171 57 858
Tax effect(1) -- (4) (36) (13) (180)
-------------- -------------- -------------- ------------- -----------
Adjusted Net Income
(Non-GAAP) $ 7,839 $ 7,399 $ 7,230 $ 22,639 19,300
Average assets $ 2,983,773 $ 2,817,241 $ 2,812,261 $ 2,890,218 2,764,544
Adjusted return on
average assets
(annualized)
(Non-GAAP) 1.04 % 1.05 % 1.02 % 1.05 % 0.93 %
(1) Tax effect was 22% for the three months ended September 30, 2025 and June
30, 2025, and nine months ended September 30, 2025, and 21% for all other
periods
Adjusted Return on Average Shareholders' Equity
-----------------------------------------------------------------------------------------
For the Nine Months
For the Three Months Ended Ended
------------------------------------- ------------------------
(Dollars in thousands) 9/30/2025 6/30/2025 9/30/2024 9/30/2025 9/30/2024
----------- ----------- ----------- ---------- ------------
Net income $ 7,839 $ 7,387 $ 7,095 $ 30,569 $ 18,625
Average shareholders'
equity 301,101 295,003 273,935 293,312 270,454
Return on average
shareholders' equity
(annualized) 10.33 % 10.04 % 10.30 % 13.93 % 9.20 %
Net income $ 7,839 $ 7,387 $ 7,095 $ 30,569 $ 18,625
Gain on sale of
branches -- -- -- (11,093) --
Tax effect(1) -- -- -- 2,440 --
Transaction bonus
accrual -- -- -- 490 --
Tax effect(1) -- -- -- (108) --
Board restructuring
accrual -- -- -- 381 --
Tax effect(1) -- -- -- (84) --
Merger & restructuring
expenses -- 16 171 57 858
Tax effect(1) -- (4) (36) (13) (180)
Net (gains) losses on
sale of securities -- -- -- -- (4)
Tax effect(1) -- -- -- -- 1
----------- ----------- ----------- ---------- ------------
Adjusted Net Income
(Non-GAAP) $ 7,839 $ 7,399 $ 7,230 $ 22,639 $ 19,300
Average shareholders'
equity $ 301,101 $ 295,003 $ 273,935 $ 293,312 $ 270,454
Adjusted return on
average shareholders'
equity (annualized)
(Non-GAAP) 10.33 % 10.06 % 10.50 % 10.32 % 9.53 %
(1) Tax effect was 22% for the three months ended September 30, 2025 and June
30, 2025, and nine months ended September 30, 2025, and 21% for all other
periods
Tangible Common Equity and Tangible Book Value
---------------------------------------------------------------------------------------------
(Dollars in thousands,
except per share data) 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024
--------------- ----------- ----------- ----------- -----------
Tangible Common Equity
-----------------------
Total shareholders'
equity $ 305,457 $ 297,998 $ 294,066 $ 280,221 $ 277,353
Adjustments:
Goodwill (58,806) (58,806) (58,806) (58,806) (58,806)
Other intangible assets (16,407) (17,490) (18,573) (20,955) (22,118)
--------------- ----------- ----------- ----------- -----------
Tangible common equity
(Non-GAAP) $ 230,244 $ 221,702 $ 216,687 $ 200,460 $ 196,429
Common shares
outstanding 37,447,026 37,441,879 37,377,342 37,370,917 37,361,560
Book value per common
share $ 8.16 $ 7.96 $ 7.87 $ 7.50 $ 7.42
Tangible book value per
common share
(Non-GAAP) $ 6.15 $ 5.92 $ 5.80 $ 5.36 $ 5.26
Tangible Assets
-----------------------
Total assets $ 3,123,293 $ 2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,941
Adjustments:
Goodwill (58,806) (58,806) (58,806) (58,806) (58,806)
Other intangible assets (16,407) (17,490) (18,573) (20,955) (22,118)
--------------- ----------- ----------- ----------- -----------
Tangible assets
(Non-GAAP) $ 3,048,080 $ 2,810,258 $ 2,784,110 $ 2,799,017 $ 2,799,017
Tangible common equity
to tangible assets
(Non-GAAP) 7.55 % 7.89 % 7.78 % 7.16 % 7.02 %
Adjusted Efficiency Ratio
---------------------------------------------------------------------------------------------
For the Nine Months
For the Three Months Ended Ended
-------------------------------------------- ----------------------
(Dollars in thousands) 9/30/2025 6/30/2025 9/30/2024 9/30/2025 9/30/2024
-------------------- ---------- ---------- ---------- ----------
GAAP-based efficiency
ratio 62.25 % 64.79 % 66.71 % 58.13 % 70.21 %
Net interest income $ 26,386 $ 24,949 $ 24,981 $ 77,166 $ 74,349
Noninterest income 2,805 2,933 2,680 18,995 6,267
Less: Gain on sale of
branches -- -- -- (11,093) --
Less: net gains
(losses) on sale of
securities -- -- -- -- (4)
-------------------- ---------- ---------- ---------- ----------
Adjusted revenue
(Non-GAAP) 29,191 27,882 27,661 85,068 80,612
Total noninterest
expense 18,171 18,065 18,452 55,894 56,601
Less: Merger &
restructuring
expenses -- 16 171 57 858
Less: Transaction bonus
accrual -- -- -- 490 --
Less: Board
restructuring accrual -- -- -- 381 --
-------------------- ---------- ---------- ---------- ----------
Adjusted non-interest
expense $ 18,171 $ 18,049 $ 18,281 $ 54,966 $ 55,743
Efficiency ratio, as
adjusted (Non-GAAP) 62.25 % 64.73 % 66.09 % 64.61 % 69.15 %
Adjusted Pre-tax, Pre-provision Net Income (Non-GAAP)
---------------------------------------------------------------------------------------------
For the Nine Months
For the Three Months Ended Ended
------------------------------------------ ------------------------
(Dollars in thousands,
except per share data) 9/30/2025 6/30/2025 9/30/2024 9/30/2025 9/30/2024
---------------- ----------- ----------- ---------- ------------
Net Income (GAAP) $ 7,839 $ 7,387 $ 7,095 $ 30,569 $ 18,625
Gain on sale of
branches -- -- -- (11,093) --
Tax effect(1) -- -- -- 2,440 --
Transaction bonus
accrual -- -- -- 490 --
Tax effect(1) -- -- -- (108) --
Board restructuring
accrual -- -- -- 381 --
Tax effect(1) -- -- -- (84) --
Net (gains) losses on
sale of securities -- -- -- -- (4)
Tax effect(1) -- -- -- -- 1
Merger & restructuring
expenses -- 16 171 57 858
Tax effect(1) -- (4) (36) (13) (180)
---------------- ----------- ----------- ---------- ------------
Adjusted Net Income
(Non-GAAP) 7,839 7,399 7,230 22,639 19,300
Income tax expense 2,178 2,086 2,030 8,123 5,265
Provision for credit
losses 1,003 344 84 1,575 125
Tax effect included in
Adjusted Net Income - 4 36 (2,235) 179
---------------- ----------- ----------- ---------- ------------
Adjusted Pre-tax,
Pre-provision Net
Income (Non-GAAP) $ 11,020 $ 9,833 $ 9,380 $ 30,102 $ 24,869
================ =========== =========== ========== ============
(1) Tax effect was 22% for the three months ended September 30, 2025 and June
30, 2025, and nine months ended September 30, 2025, and 21% for all other
periods
Adjusted Earnings Per Share
--------------------------------------------------------------------------------------
For the Nine Months
For the Three Months Ended Ended
------------------------------------- ----------------------
(Dollars in thousands,
except per share data) 9/30/2025 6/30/2025 9/30/2024 9/30/2025 9/30/2024
----------- ----------- ----------- ---------- ----------
GAAP-Based Earnings Per
Share, Basic $ 0.21 $ 0.20 $ 0.19 $ 0.82 $ 0.50
GAAP-Based Earnings Per
Share, Diluted $ 0.21 $ 0.20 $ 0.19 $ 0.82 $ 0.50
Net Income $ 7,839 $ 7,387 $ 7,095 $ 30,569 $ 18,625
Gain on sale of
branches -- -- -- (11,093) --
Tax effect(1) -- -- -- 2,440 --
Transaction bonus
accrual -- -- -- 490 --
Tax effect(1) -- -- -- (108) --
Board restructuring
accrual -- -- -- 381 --
Tax effect(1) -- -- -- (84) --
Merger & restructuring
expenses -- 16 171 57 858
Tax effect(1) -- (4) (36) (13) (180)
Net (gains) losses on
sale of securities -- -- -- -- (4)
Tax effect(1) -- -- -- -- 1
Adjusted Net Income
(Non-GAAP) $ 7,839 $ 7,399 $ 7,230 $ 22,639 $ 19,300
Adjusted Earnings per
Share, Basic
(Non-GAAP) $ 0.21 $ 0.20 $ 0.20 $ 0.61 $ 0.52
Adjusted Earnings per
Share, Diluted
(Non-GAAP) $ 0.21 $ 0.20 $ 0.19 $ 0.61 $ 0.52
(1) Tax effect was 22% for the three months ended September 30, 2025 and June
30, 2025, and nine months ended September 30, 2025, and 21% for all other
periods
Contact:
Nick West
Director, Corporate Development
717.678.7935
IR@LINKBANCORP.COM
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SOURCE LINKBANCORP, Inc.
(END) Dow Jones Newswires
October 27, 2025 16:10 ET (20:10 GMT)