LinkBancorp reports Q1 non-GAAP EPS 16c, consensus 18c

Reports Q1 non-performing assets $6.7M, representing 0.25% of total assets at March 31, compared to $7.3M, representing 0.27% of total assets at December 31, 2023. “We are very pleased by the strong results of the Q1, which represents the first full quarter following completion of our merger with Partners Bancorp,” said Andrew Samuel, CEO of LINKBANCORP. “Following a very successful conversion during the fourth quarter, we have continued to make significant progress in integrating our institutions and executing on the actions needed to achieve the operational efficiencies and other benefits of this combination, including recognizing a 14% reduction in headcount since the close of the transaction and positive steps in implementing our bank-wide branch rationalization initiative.” He continued, “Loan activity during the quarter was consistent with our expectations and solid deposit growth will support growing loan pipelines.”