--- schema_version: "secwatch.filing_event.v1" accession: "0000943374-23-000462" form_type: "8-K" ticker: "LNKB" cik: "0001756701" company_name: "LINKBANCORP, Inc." filed_at: "2023-12-01T23:59:59+00:00" generated_at: "2026-06-07T19:27:33.505149+00:00" event_type: "m_and_a" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # LINKBANCORP closes merger with Partners Bancorp; combined company has $2.8B assets ## Summary - Merger of Partners Bancorp into LINK completed Nov 30, 2023; Partners shareholders received 1.15 LINK shares per share. - Combined company has approx. $2.8B total assets, $2.3B deposits, $2.2B loans, serving 31 branches across Mid-Atlantic. - Ten former Partners directors appointed to LINK board; Jeffrey Turner named Vice Chairman. - LINK assumed $17.8M of Partners' 6% subordinated notes due 2030 and $4.5M subordinated term loan due 2028. - Andrew Samuel continues as CEO; John Breda named Market CEO for Delmarva Region; other regional presidents appointed. ## SEC filing metadata - accession: 0000943374-23-000462 - form_type: 8-K - ticker: LNKB - cik: 0001756701 - company_name: LINKBANCORP, Inc. - filed_at: 2023-12-01T23:59:59+00:00 - event_type: m_and_a - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 2.01, 2.03, 5.02, 5.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/form8k_113023.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000943374-23-000462 - JSON: https://secwatch.observer/filing/0000943374-23-000462.json - Plain text: https://secwatch.observer/filing/0000943374-23-000462.txt ## Key facts - Debt Financings LINKBANCORP, Inc. incurred term loan of $4.5 million aggregate principal amount at 6.875% per annum maturing due April 1, 2028. - Instrument: term loan - Principal: $4.5 million aggregate principal amount - Rate: 6.875% per annum - Maturity: due April 1, 2028 - Event: incurrence source text: (ii) $4.5 million aggregate principal amount of a subordinated term loan, with an interest rate of 6.875% per annum, due April 1, 2028 evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - Debt Financings LINKBANCORP, Inc. incurred senior notes of $17.8 million aggregate principal amount at 6.000% fixed-to-floating rate maturing due July 1, 2030. - Instrument: senior notes - Principal: $17.8 million aggregate principal amount - Rate: 6.000% fixed-to-floating rate - Maturity: due July 1, 2030 - Event: incurrence source text: LINK assumed Partners’ obligations with respect to (i) $17.8 million aggregate principal amount of 6.000% fixed-to-floating rate subordinated notes due July 1, 2030 evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - Executive change Jeffrey F. Turner was appointed as Vice Chairman at LINKBANCORP, Inc.. - Action: appointed - Role: Vice Chairman source text: Pursuant to the Merger Agreement and the Bylaws Amendment (as defined under Item 5.03 below), effective as of the Effective Time, Mr. Turner, the Chairman of the Board of Partners prior to the Effective Time, was appointed Vice Chairman of LINK. evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - Executive change Brent Smith resigned as Director at LINKBANCORP, Inc.. - Action: resigned - Role: Director source text: Brent Smith (the “Resigning Director”) resigned as a member of the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - Executive change John W. Breda was appointed as Chief Executive Officer, Delmarva Market at LINKBANCORP, Inc.. - Action: appointed - Role: Chief Executive Officer, Delmarva Market source text: In connection with the Transaction, Mr. Breda, was appointed as a Director of LINK and Chief Executive Officer, Delmarva Market . evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - Executive change Mona D. Albertine was appointed as Director at LINKBANCORP, Inc.. - Action: appointed - Role: Director source text: The ten Partners Designated Directors that were appointed by the Board to fill the vacancies resulting from the resignation referred to above and the increase in the size of the Board to twenty-two (22) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Mona D. Albertine evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - Governance Changes LINKBANCORP, Inc.: Amended and restated bylaws to provide for certain arrangements related to the Board and LINK Bank board following the merger. - Change: bylaw amendment source text: the bylaws of LINK were amended and restated to provide for certain arrangements related to the Board and the board of directors of LINK Bank (such amendment, the "Bylaws Amendment," evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm - M&A Transactions LINKBANCORP, Inc. completed an acquisition involving Partners Bancorp (closed 2023-11-30). - Action: acquisition - Counterparty: Partners Bancorp - Closing: 2023-11-30 source text: Effective on November 30, 2023, LINKBANCORP, Inc., a Pennsylvania corporation (“LINK”), completed its previously announced combination with Partners Bancorp, a Maryland corporation (“Partners”), pursuant to the Agreement and Plan of Merger, dated February 22, 2023, by and between LINK and Partners (the “Merger Agreement”). evidence_url: https://www.sec.gov/Archives/edgar/data/1756701/000094337423000462/0000943374-23-000462-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.