FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News

Print

LINKBANCORP, Partners Bancorp Receive Shareholder Approvals for Merger of Equals

June 23, 2023, 07:20 AM
Filed Under: Mergers & Acquisitions

LINKBANCORP, Inc., parent company of LINKBANK, and Partners Bancorp, a financial services company with two wholly owned operating subsidiaries, The Bank of Delmarva and Virginia Partners Bank, announced that at special meetings of their respective shareholders held on June 22, LINK and Partners shareholders approved the merger of Partners with and into LINK, with LINK as the surviving corporation pursuant to the Agreement and Plan of Merger, dated as of Feb. 22 by and between LINK and Partners.

The closing of the proposed merger remains subject to regulatory approvals and certain other customary closing conditions.

Andrew S. Samuel, CEO and Vice Chairman of LINKBANCORP said, "We are grateful for the strong support of our shareholders, affirming the strategic significance of combining LINK and Partners in a transformational partnership to create a leading Mid-Atlantic community banking franchise. Together we will build on our shared heritage in community banking while providing greater strength, size, and stability to serve local communities, and to generate greater profitability and returns for our shareholders."

John W. Breda, President, CEO, and Director of Partners Bancorp said, "With this milestone, we are one step closer to creating a partnership that will benefit all stakeholders, including the communities we serve. We are excited about what the future holds for the combined company."

The final voting results on the proposals voted on at the special meetings will be set forth in the companies' separate Form 8-Ks filed with the U.S. Securities and Exchange Commission after certification by each company's inspector of election.







Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.