LINKBANCORP, Inc. Completes Acquisition of Stonebridge Bank
CAMP HILL, Pa.--(BUSINESS WIRE)--Oct 5, 2018--LINKBANCORP, Inc. (“LINK”), a bank holding company, today announced that it has received all required regulatory approvals and has completed the acquisition of Stonebridge Bank, which will operate immediately as a wholly-owned subsidiary of LINK.
“We are excited to complete the purchase of Stonebridge Bank,” Andrew S. Samuel, Chairman and Chief Executive Officer of LINK said. “Our mission to positively impact lives will extend throughout Central and Southeast Pennsylvania as we strive to build a thriving community banking franchise.”
LINK has successfully closed round one of its $45 million capital offering, raising $36 million in capital as part of the approval process. “We would like to thank all our shareholders and employees for their efforts to date as we begin to build a great franchise in Pennsylvania. Southeastern and Central Pennsylvania boast such attractive demographics and diverse economic drivers, it’s an ideal place to do business,” said Samuel.
LINK will rebrand Stonebridge Bank to LINKBANK and expects to complete the rebranding before the end of 2018. The bank will continue to operate as Stonebridge Bank until that time.
This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as “will,” “expected,” “believe,” and “prospects,” involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, and market disruptions. LINKBANCORP undertakes no obligation to release revisions to these forward-looking statements publicly to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181005005478/en/
CONTACT: LINKBANCORP, Inc.
Brent Smith, 717-778-7243
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: LINKBANCORP, Inc.
Copyright Business Wire 2018.
PUB: 10/05/2018 03:30 PM/DISC: 10/05/2018 03:30 PM