LINKBANCORP ( (LNKB) ) has issued an update.
LINKBANCORP, Inc. has reported a record net income of $7.1 million for the third quarter of 2024, reflecting strong growth in core deposits and loans, despite selling its New Jersey branches. The company’s strategic focus on cost efficiencies and revenue generation resulted in an annualized return on average assets of 1.00%. Total deposits increased to $2.47 billion, driven by demand deposit growth, while noninterest income rose due to gains in service charges and merchant fees. Shareholders’ equity also saw a rise, underscoring LINKBANCORP’s solid financial performance.
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