LINKBANCORP INC(NASDAQ:LNKB) 
LINKBANCORP, Inc. operates as a bank holding company for The Gratz Bank, a full-service state chartered commercial bank in Pennsylvania. The company's deposit products include checking accounts, saving accounts, money market accounts, and certificates of deposits. The company's loan portfolio compri...
Website: https://www.linkbank.com
Founded: 2018
IPO Price: $7.5 (Sep 14, 2022)
Full Time Employees: 101
Sector: Financial Services
Industry: Banks—Regional
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
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Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||
noninterest-bearing cash equivalents | 15,482,000 | 13,834,000 | 15,295,000 | 14,516,000 | 13,552,000 | 13,089,000 | 5,447,000 | 4,736,000 | 4,209,000 | 8,711,000 | 7,563,000 | 6,425,000 | 8,620,000 | 17,073,000 | 2,117,000 |
interest-bearing deposits with other institutions | 36,811,000 | 152,266,000 | 175,937,000 | 167,141,000 | 158,731,000 | 67,101,000 | 62,532,000 | 118,438,000 | 25,802,000 | 66,085,000 | 55,433,000 | 102,704,000 | 13,970,000 | 86,471,000 | 29,332,000 |
cash and cash equivalents | 52,293,000 | 166,100,000 | 191,232,000 | 181,657,000 | 172,283,000 | 80,190,000 | 67,979,000 | 123,174,000 | 30,011,000 | 74,796,000 | 62,996,000 | 109,129,000 | 22,590,000 | 103,544,000 | 31,449,000 |
securities available for sale, at fair value | 262,620,000 | 145,590,000 | 149,315,000 | 140,121,000 | 133,949,000 | 115,490,000 | 78,779,000 | 83,620,000 | 78,813,000 | 78,698,000 | 85,756,000 | 93,202,000 | 103,783,000 | 122,748,000 | 3,398,000 |
securities held to maturity | 25,876,000 | 31,967,000 | 34,626,000 | 35,845,000 | 36,616,000 | 36,735,000 | 37,778,000 | 38,806,000 | 31,822,000 | 32,571,000 | 28,816,000 | 5,000,000 | |||
less: allowance for credit losses - securities | -391,000 | -471,000 | -502,000 | -507,000 | -512,000 | -586,000 | |||||||||
loans receivable | 2,556,729,000 | 2,255,749,000 | 2,215,868,000 | 2,193,197,000 | 2,245,817,000 | 2,241,533,000 | 978,912,000 | 969,533,000 | 927,871,000 | 863,969,000 | |||||
less: allowance for credit losses - loans | -31,674,000 | -26,435,000 | -26,542,000 | -26,288,000 | -23,842,000 | -23,767,000 | -9,964,000 | -10,228,000 | |||||||
net loans | 2,525,055,000 | 2,229,314,000 | 2,189,326,000 | 2,166,909,000 | 2,221,975,000 | 2,217,766,000 | 968,948,000 | 959,305,000 | 923,205,000 | 859,400,000 | |||||
investments in restricted bank stock | 7,735,000 | 5,209,000 | 4,904,000 | 4,928,000 | 4,286,000 | 3,965,000 | 3,107,000 | 5,544,000 | 3,377,000 | 3,327,000 | 2,567,000 | 3,612,000 | 2,685,000 | 3,586,000 | 1,039,000 |
premises and equipment | 15,957,000 | 18,029,000 | 17,623,000 | 18,364,000 | 22,233,000 | 22,279,000 | 6,414,000 | 6,292,000 | 6,743,000 | 9,087,000 | 7,915,000 | 5,253,000 | 5,289,000 | 5,250,000 | 1,771,000 |
right-of-use asset – premises | 15,225,000 | 14,913,000 | 14,150,000 | 13,970,000 | 14,663,000 | 15,598,000 | 9,727,000 | 9,896,000 | 10,219,000 | 8,920,000 | 4,513,000 | 4,605,000 | 4,680,000 | 4,748,000 | |
bank-owned life insurance | 53,708,000 | 52,079,000 | 51,646,000 | 49,616,000 | 49,230,000 | 48,847,000 | 24,732,000 | 24,554,000 | 19,244,000 | 19,127,000 | 19,012,000 | 18,898,000 | 18,787,000 | 13,683,000 | 4,756,000 |
goodwill | 58,806,000 | 58,806,000 | 58,806,000 | 58,806,000 | 56,968,000 | 56,968,000 | |||||||||
other intangible assets | 15,366,000 | 20,955,000 | 22,118,000 | 23,323,000 | 24,526,000 | 25,733,000 | |||||||||
deferred tax asset | 16,889,000 | 18,866,000 | 21,662,000 | 22,024,000 | 22,717,000 | 24,153,000 | 6,880,000 | 6,571,000 | 5,619,000 | 6,378,000 | 5,777,000 | 5,092,000 | 4,038,000 | 4,382,000 | 3,033,000 |
assets held for sale | 94,146,000 | 104,660,000 | 118,362,000 | ||||||||||||
accrued interest receivable and other assets | 21,790,000 | 23,263,000 | 20,344,000 | 25,170,000 | 26,730,000 | 22,113,000 | 14,899,000 | 14,024,000 | 12,084,000 | 7,256,000 | 7,909,000 | 9,280,000 | 5,407,000 | 6,198,000 | 3,772,000 |
total assets | 3,070,929,000 | 2,878,778,000 | 2,879,941,000 | 2,858,593,000 | 2,785,669,000 | 2,669,325,000 | 1,255,695,000 | 1,308,472,000 | 1,163,654,000 | 1,144,873,000 | 1,059,885,000 | 1,035,676,000 | 932,763,000 | 979,169,000 | 464,430,000 |
liabilities | |||||||||||||||
deposits: | |||||||||||||||
demand, noninterest bearing | 603,728,000 | 658,646,000 | 658,473,000 | 661,292,000 | 653,719,000 | 655,953,000 | 210,404,000 | 240,729,000 | 192,773,000 | 184,857,000 | 184,345,000 | 165,228,000 | 129,243,000 | 175,609,000 | 74,303,000 |
interest bearing | 1,951,024,000 | 1,701,936,000 | 1,714,179,000 | 1,699,220,000 | 1,732,310,000 | 1,642,520,000 | 831,368,000 | 794,113,000 | 753,999,000 | 766,853,000 | 718,028,000 | 696,942,000 | 642,422,000 | 626,986,000 | 297,750,000 |
total deposits | 2,554,752,000 | 2,360,582,000 | 2,372,652,000 | 2,360,512,000 | 2,386,029,000 | 2,298,473,000 | 1,041,772,000 | 1,034,842,000 | 946,772,000 | 951,710,000 | 902,373,000 | 862,170,000 | 771,665,000 | 802,595,000 | 372,053,000 |
long-term borrowings | 40,000,000 | 40,000,000 | 40,000,000 | 40,000,000 | 40,000,000 | ||||||||||
short-term borrowings | 75,000,000 | 10,000,000 | 10,000,000 | ||||||||||||
note payable | 565,000 | 572,000 | 578,000 | 584,000 | 590,000 | ||||||||||
subordinated debt | 62,281,000 | 61,984,000 | 61,843,000 | 61,706,000 | 61,573,000 | 61,444,000 | 40,354,000 | 40,398,000 | 40,484,000 | 40,526,000 | 40,585,000 | 20,653,000 | 20,696,000 | 20,740,000 | 19,973,000 |
lease liabilities | 15,564,000 | 15,666,000 | 14,911,000 | 14,746,000 | 15,445,000 | 16,464,000 | |||||||||
allowance for credit losses - unfunded commitments | 2,507,000 | 1,857,000 | 1,857,000 | 1,969,000 | 2,089,000 | 2,189,000 | 904,000 | 904,000 | |||||||
liabilities held for sale | 93,777,000 | 94,228,000 | 96,916,000 | ||||||||||||
accrued interest payable and other liabilities | 14,393,000 | 14,126,000 | 16,525,000 | 10,757,000 | 11,706,000 | 14,369,000 | 6,586,000 | 5,081,000 | 6,688,000 | 6,774,000 | 6,004,000 | 5,790,000 | 6,285,000 | 8,091,000 | 1,412,000 |
total liabilities | 2,764,497,000 | 2,598,557,000 | 2,602,588,000 | 2,587,184,000 | 2,517,426,000 | 2,403,529,000 | 1,114,344,000 | 1,166,020,000 | 1,025,101,000 | 1,007,931,000 | 955,114,000 | 929,336,000 | 823,140,000 | 869,208,000 | 420,953,000 |
commitments and contingent liabilities | |||||||||||||||
shareholders’ equity | |||||||||||||||
preferred stock | |||||||||||||||
common stock | 370,000 | 370,000 | 370,000 | 370,000 | 369,000 | 369,000 | 162,000 | 162,000 | 149,000 | 149,000 | 99,000 | 99,000 | 99,000 | 98,000 | 50,000 |
surplus | 266,090,000 | 264,449,000 | 264,059,000 | 263,795,000 | 263,577,000 | 263,310,000 | 127,856,000 | 127,818,000 | 117,709,000 | 117,698,000 | 83,070,000 | 82,930,000 | 82,910,000 | 82,771,000 | 50,567,000 |
retained earnings | 42,300,000 | 19,947,000 | 15,147,000 | 10,826,000 | 7,724,000 | 4,843,000 | 19,062,000 | 19,039,000 | 27,100,000 | 27,525,000 | 26,491,000 | 25,623,000 | 24,836,000 | 24,785,000 | |
accumulated other comprehensive loss | -2,328,000 | -4,545,000 | -2,223,000 | -3,582,000 | -3,427,000 | -3,209,000 | -5,729,000 | -4,567,000 | |||||||
total shareholders' equity | 306,432,000 | 280,221,000 | 277,353,000 | 271,409,000 | 268,243,000 | 265,796,000 | |||||||||
total liabilities and shareholders’ equity | 3,070,929,000 | 2,878,778,000 | 2,879,941,000 | 2,858,593,000 | 2,785,669,000 | 2,669,325,000 | 1,255,695,000 | 1,308,472,000 | 1,163,654,000 | 1,144,873,000 | 1,059,885,000 | 1,035,676,000 | 932,763,000 | 979,169,000 | 464,430,000 |
less: allowance for credit losses - held to maturity securities | -459,000 | -512,000 | |||||||||||||
total equity attributable to parent | 280,221,000 | 277,353,000 | 271,409,000 | 268,243,000 | 265,313,000 | ||||||||||
noncontrolling interest in consolidated subsidiary | 483,000 | ||||||||||||||
certificates of deposit with other banks | 249,000 | 498,000 | 5,623,000 | 8,358,000 | 11,088,000 | 12,828,000 | 12,828,000 | 13,077,000 | |||||||
goodwill and other intangible assets | 36,715,000 | 36,774,000 | 36,894,000 | 36,955,000 | 37,020,000 | 37,085,000 | 37,152,000 | 36,890,000 | 1,357,000 | ||||||
other borrowings | 15,000,000 | 74,899,000 | 20,938,000 | 1,639,000 | 36,117,000 | 19,814,000 | 33,034,000 | 23,087,000 | |||||||
operating lease liabilities | 9,728,000 | 9,896,000 | 10,219,000 | 8,921,000 | 4,513,000 | 4,606,000 | 4,680,000 | 4,748,000 | 4,428,000 | ||||||
total shareholders’ equity | 141,351,000 | 142,452,000 | 138,553,000 | 136,942,000 | 104,771,000 | 106,340,000 | 109,623,000 | 109,961,000 | 43,477,000 | ||||||
loans held for sale | 4,074,000 | 3,860,000 | |||||||||||||
less: allowance for loan losses | -4,666,000 | -4,569,000 | |||||||||||||
accumulated other comprehensive income | -6,405,000 | -8,430,000 | -4,889,000 | -2,312,000 | 1,778,000 | 2,307,000 | 67,000 | ||||||||
loans receivable, net of allowance for loan losses of 3,890 at june 30, 2022, and 3,152 at december 31, 2021 | 786,516,000 | ||||||||||||||
loans receivable, net of allowance for loan losses of 3,443 at march 31, 2022, and 3,152 at december 31, 2021 | 727,618,000 | ||||||||||||||
loans receivable, net of allowance for loan losses of 3,152 at december 31, 2021, and 2,789 at december 31, 2020 | 711,664,000 | ||||||||||||||
deferred tax liability | |||||||||||||||
treasury stock | |||||||||||||||
loans receivable, net of allowance for loan losses of 3,335 at september 30, 2021, and 2,789 at december 31, 2020 | 665,063,000 | ||||||||||||||
loans receivable, net of allowance for loan losses of 4,800 at june 30, 2021, and 4,177 at december 31, 2020 | 409,427,000 | ||||||||||||||
right-to-use asset – premises | 4,428,000 | ||||||||||||||
accumulated deficit | -7,207,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | ||||||||||||
net income | 7,584,000 | 7,095,000 | 5,804,000 | 5,726,000 | -13,001,000 | 1,240,000 | 696,000 | 1,772,000 | 1,606,000 | 1,524,000 | 788,000 | -3,666,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||
gain on sale of branches | ||||||||||||
provision for credit losses | 40,000 | |||||||||||
depreciation | 420,000 | 460,000 | 514,000 | 498,000 | 342,000 | 263,000 | 243,000 | 223,000 | 192,000 | 192,000 | -21,000 | 253,000 |
amortization of intangible assets | 1,163,000 | 1,204,000 | 1,204,000 | 1,207,000 | 484,000 | 59,000 | 61,000 | 65,000 | 65,000 | 67,000 | -195,000 | 306,000 |
accretion of discounts | -2,951,000 | -2,753,000 | -2,775,000 | -3,268,000 | 243,000 | -126,000 | ||||||
origination of loans to be sold | -3,371,000 | -5,755,000 | -766,000 | -201,000 | -465,000 | 0 | 0 | -5,703,000 | -1,799,000 | -1,860,000 | 0 | |
proceeds from loan sales | 3,441,000 | 5,893,000 | 778,000 | 251,000 | 496,000 | 0 | 0 | 6,123,000 | 218,000 | |||
gain on sale of loans | -70,000 | -138,000 | -12,000 | -50,000 | -169,000 | 0 | 0 | -420,000 | -153,000 | -180,000 | 0 | |
share-based and deferred compensation | 526,000 | 513,000 | 423,000 | 402,000 | 422,000 | 205,000 | 163,000 | 144,000 | 104,000 | 245,000 | ||
bank-owned life insurance income | -434,000 | -430,000 | -386,000 | -383,000 | -250,000 | -178,000 | -116,000 | -156,000 | -115,000 | -110,000 | -77,000 | -108,000 |
gain on sale of debt securities, available for sale | 0 | 0 | 0 | -13,000 | ||||||||
change in accrued interest receivable and other assets | 2,877,000 | 2,339,000 | 2,769,000 | -2,046,000 | -4,128,000 | 545,000 | -2,208,000 | 959,000 | -558,000 | -1,798,000 | -622,000 | 1,610,000 |
change in accrued interest payable and other liabilities | -3,435,000 | 5,475,000 | -1,154,000 | -2,863,000 | 2,835,000 | 1,338,000 | -231,000 | 646,000 | 130,000 | -720,000 | -1,092,000 | 2,775,000 |
other | -23,000 | -26,000 | -3,000 | -84,000 | ||||||||
net cash from operating activities | 5,859,000 | 13,962,000 | 6,392,000 | -771,000 | -3,347,000 | 2,997,000 | -2,407,000 | 3,948,000 | 3,463,000 | -2,660,000 | -643,000 | 6,021,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 5,859,000 | 13,962,000 | 6,392,000 | -771,000 | -3,347,000 | 2,997,000 | -2,407,000 | 3,948,000 | 3,463,000 | -2,660,000 | -643,000 | 6,021,000 |
investing activities | ||||||||||||
investment securities available for sale: | ||||||||||||
proceeds from sales | 0 | 0 | 89,517,000 | 0 | 0 | 0 | 0 | 513,000 | ||||
proceeds from calls and maturities | 1,855,000 | 7,080,000 | 1,000,000 | 295,000 | 95,000 | 0 | 400,000 | 750,000 | 1,520,000 | -73,620,000 | ||
proceeds from principal repayments | 4,335,000 | 3,372,000 | 3,191,000 | 2,357,000 | 2,640,000 | 1,886,000 | 2,155,000 | 2,477,000 | 3,569,000 | 3,702,000 | 5,260,000 | 15,606,000 |
purchases | -6,943,000 | -15,463,000 | -12,294,000 | -22,622,000 | 0 | 0 | 0 | |||||
investment securities held to maturity: | ||||||||||||
purchase of restricted investment in bank stocks | -3,399,000 | -3,000,000 | -3,691,000 | -6,440,000 | -8,762,000 | -1,009,000 | -3,471,000 | -3,526,000 | 0 | -999,000 | -36,000 | 841,000 |
redemption of restricted investment in bank stocks | 3,094,000 | 3,024,000 | 3,049,000 | 6,119,000 | 14,667,000 | 3,446,000 | 3,421,000 | 2,766,000 | 1,045,000 | 72,000 | 901,000 | -2,696,000 |
increase in loans | -26,296,000 | -5,596,000 | -16,350,000 | -9,021,000 | -62,752,000 | -73,058,000 | ||||||
purchase of bank-owned life insurance | 1,000 | -4,712,000 | 0 | |||||||||
payment of death benefit under bank owned life insurance | ||||||||||||
cash paid to buy-out minority interest | 0 | 0 | 0 | -483,000 | ||||||||
proceeds from disposal of premises and equipment | 657,000 | 1,175,000 | ||||||||||
purchase of premises and equipment | -1,496,000 | -882,000 | -55,000 | -452,000 | -489,000 | -599,000 | 2,101,000 | -1,395,000 | -2,854,000 | -156,000 | -149,000 | 397,000 |
proceeds from sale of branches | ||||||||||||
net cash from investing activities | -25,524,000 | -10,668,000 | -64,946,000 | -20,880,000 | 119,342,000 | -4,006,000 | -57,248,000 | -73,767,000 | -74,703,000 | -16,872,000 | -35,544,000 | 40,562,000 |
financing activities | ||||||||||||
increase in deposits | -12,739,000 | 9,011,000 | 70,629,000 | 86,524,000 | -43,166,000 | 6,930,000 | -4,938,000 | 49,337,000 | 40,203,000 | 90,505,000 | -30,930,000 | -52,688,000 |
change in short-term borrowings | 0 | 0 | -10,000,000 | -59,702,000 | 15,101,000 | 20,938,000 | -1,639,000 | |||||
proceeds from long-term borrowings | 0 | 0 | 0 | 40,000,000 | ||||||||
issuance of shares from exercise of stock options | 3,000 | 0 | 0 | 11,000 | 0 | 0 | ||||||
dividends paid | -2,784,000 | -2,774,000 | -2,702,000 | -2,845,000 | -1,218,000 | -1,217,000 | -1,121,000 | -738,000 | -738,000 | -737,000 | -737,000 | |
net proceeds from issuance of common stock | 53,000 | 44,000 | 1,000 | 54,000 | 152,000 | 0 | -9,000 | |||||
net cash from financing activities | -5,467,000 | 6,281,000 | 67,928,000 | 113,744,000 | -103,784,000 | -54,186,000 | 14,870,000 | 81,619,000 | 25,107,000 | 106,071,000 | -44,767,000 | 1,352,000 |
increase in cash and cash equivalents | -25,132,000 | 9,575,000 | 9,374,000 | 92,093,000 | 12,211,000 | -55,195,000 | -44,785,000 | 11,800,000 | -46,133,000 | 86,539,000 | -80,954,000 | 47,935,000 |
cash and cash equivalents at beginning of period | 0 | 0 | 0 | 80,190,000 | 0 | 0 | 0 | 0 | 0 | 22,590,000 | 0 | 24,160,000 |
cash and cash equivalents at end of period | -25,132,000 | 9,575,000 | 9,374,000 | 172,283,000 | 12,211,000 | -55,195,000 | -44,785,000 | 11,800,000 | -46,133,000 | 109,129,000 | -80,954,000 | 72,095,000 |
loss on sale of debt securities | ||||||||||||
proceeds from redemptions of certificates of deposit with other banks | 249,000 | 249,000 | 2,735,000 | 2,730,000 | 249,000 | |||||||
purchase of computer software | ||||||||||||
net cash acquired through merger and acquisition | 0 | |||||||||||
provision for (credit to) credit losses | ||||||||||||
loss on sale of debt securities, available for sale | 0 | |||||||||||
benefit from (credit to) credit losses | ||||||||||||
(gain) loss on sale of debt securities, available for sale | ||||||||||||
decrease in loans | 213,000 | -15,754,000 | ||||||||||
capitalized mortgage servicing rights | ||||||||||||
proceeds from death benefit under bank-owned life insurance | 0 | |||||||||||
proceeds from issuance of subordinated debt | 0 | 0 | ||||||||||
(credit to) provision for credit losses | ||||||||||||
(credit to) benefit from credit losses | ||||||||||||
proceeds from other borrowings | 31,969,000 | |||||||||||
provision for loan losses | 100,000 | 515,000 | 395,000 | 280,000 | -69,000 | |||||||
amortization of premiums and (discounts) | -1,044,000 | -220,000 | -188,000 | -495,000 | ||||||||
investment securities held to maturity | ||||||||||||
purchase of certificates of deposit with other banks | 0 | |||||||||||
repayments of other borrowings | -15,666,000 | |||||||||||
decrease in other assets | 208,000 | |||||||||||
purchase of investment securities held to maturity | -5,000,000 | |||||||||||
redemption of bank-owned life insurance | ||||||||||||
benefit from loan losses | ||||||||||||
amortization of premiums and discounts | ||||||||||||
repayments of long-term borrowings | -13,220,000 | 13,108,000 | ||||||||||
amortization of premiums and discounts on investment securities | 1,147,000 | |||||||||||
payment of death benefit under bank-owned life insurance | ||||||||||||
adjustments to reconcile net income to net cash used for operating activities: | ||||||||||||
share-based compensation | ||||||||||||
amortization of premiums on purchased loans | ||||||||||||
deferred tax benefit | ||||||||||||
proceeds from exercise of stock options | ||||||||||||
supplemental cash flow disclosures | ||||||||||||
cash paid during the period for: | ||||||||||||
interest | ||||||||||||
income taxes | ||||||||||||
non-cash activities : | ||||||||||||
right of use asset | ||||||||||||
operating lease liability |