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The recent Federal Reserve Survey shows most banks seeing flat demand for commercial and industrial loans, but none seeing an increase. PHOTO/GETTY IMAGES
LINKBANK completes merger with three banks
Andrew Samuel, CEO of Camp Hill-based LINKBANCORP Inc., parent company of LINKBANK, announced the completion of the merger of Partners Bancorp with and into LINK, and the merger of The Bank of Delmarva and Virginia Partners Bank with and into LINKBANK, effective Nov. 30.
The combined company has total assets of approximately $2.8 billion, deposits of approximately $2.3 billion and loans of approximately $2.2 billion, serving individuals, families, nonprofits and business clients online and in central and southeastern Pennsylvania; Maryland; Delaware; Virginia; and southern New Jersey through 31 branches operating under the LINKBANK brand.
“We are delighted with the closing of this transformational combination that establishes LINKBANK as a premier mid-Atlantic community bank franchise,” Samuel said in a release. “We look forward to moving forward united with an experienced and respected board, leadership team and employees highly focused on building sustained value for our key stakeholders.”
Newly established LINKBANK regions comprised of legacy markets of Partners’ bank subsidiaries are being led by in-market leadership familiar to customers.
That includes John W. Breda, market CEO, Delmarva Region; Adam Nalls, market CEO, Northern Virginia; David Talebian, market President, Northern Virginia; Wallace King, regional president, Fredericksburg Region; J.D. Zachry, regional president, Central Region; and Carl Cottingham, regional president, Delmarva Region.
LINKBANK’s existing Delaware Valley Region will continue to be led by Drew Smith, regional president, with the addition of John Herring as a regional president for New Jersey. Also, 10 former Partners directors have been appointed to the LINK board of directors, including Partners’ Chairman Jeffrey Turner, who was appointed vice chair of the LINK board.
Paula Wolf is a freelance writer
