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LinkBancorp passes $1 billion in total assets
Paula Wolf//May 4, 2022
Harrisburg-based LinkBancorp Inc., parent company of The Gratz Bank, including its LinkBank division, reported that it passed $1 billion in total assets in the first quarter.
More specifically, assets were $1.036 billion as of March 31, up from $932.8 million at the end of last year.
That milestone was LinkBancorp’s biggest highlight for the first three months of 2022. Other numbers cited were organic loan growth of $29 million, exclusive of Paycheck Protection Program loans, and an increase in noninterest-bearing deposits of $36 million.
CEO Andrew Samuel commented in a release: “We are very pleased by the results of our first quarter free of merger-related charges related to the combination with GNB Financial Services Inc., crossing over the $1 billion threshold and demonstrating growing earnings potential as we begin to recognize economies of scale and increasing operating leverage.”
He added that “key additions within areas experiencing varying levels of market disruption, including the York and Delaware Valley markets, are expected to help fuel further loan and earnings growth and complement the strong performance of our core Capital, Lancaster and Gratz regions.”
