Pennsylvania bank LINKBANCORP prices Nasdaq uplisting at $7.50, below the range
September 14, 2022
LINKBANCORP, a Pennsylvania community bank with 11 branches, raised $34 million by offering 4.6 million shares at $7.50, below the range of $8.00 to $9.50. The company had been listed on the OTC (LNKB).
Through its subsidiary The Gratz Bank, LINKBANCORP offers personal and business lending and deposit services to individuals, families, nonprofit, and business clients throughout Central and Southeastern Pennsylvania. The company has 10 branches, or “client solutions centers,” in Chester, Cumberland, Dauphin, Lancaster, Northumberland, and Schuylkill Counties, as well as one loan production office in York. As of June 30, 2022, LINKBANCORP had $1.1 billion in consolidated assets, $787 million in net loans, $902 million in deposits, and $105 million in shareholders’ equity.
LINKBANCORP plans to list on the Nasdaq under the symbol LNKB. Stephens Inc. and Piper Sandler acted as joint bookrunners on the deal.