LinkBancorp announces sale of New Jersey operations

LinkBancorp announced that its wholly owned subsidiary, LINKBANK, entered into a definite purchase and assumption agreement under which American Heritage Federal Credit Union, based in Philadelphia, Pennsylvania, will acquire LINKBANK’s banking operations and 3 branches in New Jersey. The transaction includes approximately $105M of deposits and $123M in loans. The 3 branches were previously part of the Liberty Bell Bank division of The Bank of Delmarva, which merged with LINBANK as part of the company’s recent merger with Partners Bancorp. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2024.