LINKBANCORP, Partners Bancorp Receive Approval For Merger From Federal Reserve System

(RTTNews) - LINKBANCORP, Inc. (LNKB), parent company of LINKBANK, and Partners Bancorp (PTRS), a financial services company, announced Thursday the receipt of regulatory approval from the Board of Governors of the Federal Reserve System, the final regulatory approval required to complete the previously announced merger of equals transaction under which Partners will merge with and into LINK in an all-stock transaction, with LINK as the surviving corporation.

In connection with the merger, The Bank of Delmarva and Virginia Partners Bank will each merge with and into LINKBANK, with LINKBANK as the surviving sole bank subsidiary of LINK.

The merger is expected to close on November 30, 2023, pending satisfaction of customary closing conditions.