LINKBANCORP, Inc. Announces Fourth Quarter 2025 and Full Year 2025 Financial Results and Declares Dividend

HARRISBURG, Pa., Jan. 26, 2026 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank"), reported net income of $2.9 million, or $0.08 per diluted share, for the quarter ended December 31, 2025, compared to net income of $7.8 million, or $0.21 per diluted share, for the quarter ended September 30, 2025. Excluding expenses associated with the pending merger with Burke & Herbert Financial Services Corp. ("Burke & Herbert") and other non-core expenses, adjusted pre-tax, pre-provision net income was $11.7 million 1 for the quarter ended December 31, 2025, compared to $11.0 million 1 for the quarter ended September 30, 2025. Net income for the year ended December 31, 2025 was $33.5 million, or $0.90 per diluted share, compared to $26.2 million, or $0.71 for the year ended December 31, 2024. Earnings for the fourth quarter of 2025 were adversely affected by increased provision expense primarily related to a specific reserve established for a single commercial credit (the "Commercial Relationship") with total exposure of $5.0 million, requiring a full impairment, with an after-tax effect of $4.0 million. The determination of this reserve resulted from concerns with the Commercial Relationship raised during the fourth quarter of 2025, leading to the identification of purported fraudulent activity in January 2026.

Additionally, the Company announced that the Board of Directors declared a quarterly cash dividend of $0.075 per share of common stock which is expected to be paid on March 16, 2026 to shareholders of record on February 27, 2026.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this Non-GAAP measure.

FULL YEAR 2025 HIGHLIGHTS:

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this Non-GAAP measure.

2 See Loan and Deposit tables for total loan and deposit growth reconciliations.

"Overall, we were pleased with the core performance reflected in our quarterly and annual results, despite the impact of the required provision for a single commercial lending relationship," said Andrew Samuel, Chief Executive Officer of LINKBANCORP. "Annual net income reached an all-time high on strong growth in net interest income, continued progress in fee income and continued discipline in operating expenses. Looking ahead to 2026, we are excited to build on our strong organic growth, deliver exceptional service to our clients, and prepare for a successful merger with Burke & Herbert to create value for our shareholders."

Income Statement

Net interest income before the provision for credit losses for the fourth quarter of 2025 was $27.1 million compared to $26.4 million in the third quarter of 2025 and $25.5 million for the fourth quarter of 2024. The increase was primarily driven by the significant growth in average earnings assets. Net interest margin was 3.74% for the fourth quarter of 2025 compared to 3.75% for the third quarter of 2025, and 3.85% for the fourth quarter of 2024. The spread on interest rates was stable quarter over quarter as the average loan yield decreased from 6.26% for the third quarter of 2025 to 6.22% for the fourth quarter of 2025, while the cost of funds decreased from 2.34% for the third quarter of 2025 to 2.32% for the fourth quarter of 2025. Interest income from purchase accounting accretion during the fourth quarter of 2025 was approximately $150 thousand less than that recognized in the third quarter of 2025 and $813 thousand less than the fourth quarter of 2024.

Noninterest income increased slightly quarter-over-quarter to $2.9 million for the fourth quarter of 2025 compared to $2.8 million for the third quarter of 2025. Year-over-year, noninterest income increased $326 thousand from $2.6 million for the fourth quarter of 2024.

Noninterest expense for the fourth quarter of 2025 was $19.5 million compared to $18.2 million for the third quarter of 2025 and $18.3 million for the fourth quarter of 2024. The increase resulted primarily from an increased incentive compensation accrual, which was driven by achievement of organic growth goals, as well as a $500 thousand impairment on assets included in other expense.

Income tax expense was $1.0 million for the fourth quarter of 2025, reflecting an effective tax rate of 26.1% compared to $2.2 million for the third quarter of 2025, reflecting an effective tax rate of 21.7% and $2.1 million for the fourth quarter of 2024, reflecting an effective tax rate of 21.9%.

Balance Sheet

Total assets were $3.07 billion at December 31, 2025 compared to $3.12 billion at September 30, 2025 and $2.88 billion at December 31, 2024. Deposits and net loans as of December 31, 2025 totaled $2.55 billion and $2.53 billion, respectively, compared to deposits and net loans of $2.67 billion and $2.43 billion, respectively at September 30, 2025 and $2.36 billion and $2.23 billion, respectively, at December 31, 2024. Deposits and net loans exclude recorded balances held for sale in the Branch Sale of $93.6 million and $91.8 million, respectively, at December 31, 2024, which are reflected within liabilities held for sale and assets held for sale.

Total loans at December 31, 2025 were $2.56 billion, compared to $2.46 billion at September 30, 2025, representing an increase of $99.8 million, with the majority of the growth in commercial loans. For the full year, total loans have increased $307.1 million 2 from December 31, 2024, excluding the impact of the Branch Sale, or 13.1% annualized. Total commercial loan commitments originated in the fourth quarter of 2025 were $199.4 million with funded balances of $132.7 million. The average commercial loan commitment originated during the fourth quarter of 2025 totaled approximately $1.1 million with an average outstanding funded balance of $750 thousand. Total deposits at December 31, 2025 were $2.55 billion compared to $2.67 billion at September 30, 2025, representing a decrease of $113.3 million or -4.3% annualized driven by seasonal outflows related primarily to professional services and commercial clients. For the full year, total deposits have increased $256.3 million 2 from December 31, 2024, or 10.9%, adjusting for the impact of the Branch Sale and changes in brokered deposits. Noninterest bearing deposits totaled $603.7 million at December 31, 2025, down from $640.1 million at September 30, 2025. Brokered deposits decreased $40.0 million to $35.0 million at December 31, 2025. Average deposits increased $57.4 million, or 2.3%, to $2.56 billion for the quarter ended December 31, 2025, compared to $2.50 billion for the quarter ended September 30, 2025. This continued growth reflects our focus on developing deep relationships with our retail, professional services, and commercial clients to build a strong deposit franchise.

The Company continues to maintain strong on-balance sheet liquidity, as total cash, cash equivalents, and securities available for sale were $314.9 million at December 31, 2025 compared to $462.1 million at September 30, 2025 and $311.7 million at December 31, 2024. Available sources of liquidity remain stable, with total availability of sources of liquidity of $1.31 billion at December 31, 2025.

Shareholders' equity increased to $306.4 million at December 31, 2025 from $305.5 million at September 30, 2025. Book value per share increased to $8.18 at December 31, 2025 compared to $8.16 at September 30, 2025. Tangible book value per share increased to $6.20 1 at December 31, 2025 compared to $6.15 1 at September 30, 2025 and $5.36 1 at December 31, 2024, representing 15.7% growth year over year.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this Non-GAAP measure.

2 See Loan and Deposit tables for total loan and deposit growth reconciliations.

Asset Quality

The Company recorded a $6.6 million provision for credit losses during the fourth quarter of 2025, $5.0 million of which related to a specific reserve for the Commercial Relationship referenced above. As noted above, the impairment resulted from concerns with the Commercial Relationship raised during the fourth quarter of 2025, leading to the identification of purported fraudulent activity in January 2026. The Company is pursuing all available sources of recovery. Based on the Company's review of the circumstances of the purported fraudulent activity involving this borrower, the Company believes this incident is an isolated occurrence and not indicative of a broader increase in exposure to fraud-related losses in connection with its lending businesses. The remaining $1.6 million in provision recorded was driven by the strong loan growth experienced in the fourth quarter.

As of December 31, 2025, the Company's non-performing assets decreased to $24.4 million, representing 0.79% of total assets, compared to $24.6 million, representing 0.79% of total assets at September 30, 2025, resulting from the successful sale of multiple properties from one credit relationship, offset by the addition of the Commercial Relationship. Loans 30-89 days past due at December 31, 2025 were $8.22 million, representing 0.32% of total loans compared to $4.73 million or 0.19% of total loans at September 30, 2025 and $2.89 million or 0.13% of total loans at December 31, 2024. The increase was driven entirely by the inclusion of the Commercial Relationship, without which loans 30-89 days past due at December 31, 2025 would have decreased to $3.24 million.

The allowance for credit losses for loans was $31.7 million, or 1.24% of total loans held for investment at December 31, 2025, compared to $25.3 million, or 1.03% of total loans held for investment at September 30, 2025. The ratio of the allowance for credit losses for loans to nonperforming assets was 129.85% at December 31, 2025, compared to 102.90% at September 30, 2025. The increase in the allowance for credit losses was primarily due to the $5.0 million specific reserve for the Commercial Relationship.

The Company recorded $57 thousand in net recoveries during the fourth quarter of 2025 compared to $300 thousand in net charge-offs for the third quarter of 2025.

Capital

The Bank's regulatory capital ratios were well in excess of regulatory minimums to be considered "well capitalized" as of December 31, 2025. The Bank's Total Capital Ratio and Tier 1 Capital Ratio were 12.07% and 10.94% respectively, at December 31, 2025, compared to 12.31% and 11.39%, respectively, at September 30, 2025 and 11.55% and 10.74%, respectively, at December 31, 2024. The Company's ratio of Tangible Common Equity to Tangible Assets was 7.75% 1 at December 31, 2025 compared to 7.56% 1 at September 30, 2025 and 7.16% 1 at December 31, 2024.

1 See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this Non-GAAP measure.

ABOUT LINKBANCORP, Inc.

LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, LINKBANK, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Pennsylvania, Maryland, Delaware and Virginia, through 24 client solutions centers and www.linkbank.com. LINKBANCORP, Inc. common stock is traded on the Nasdaq Capital Market under the symbol "LNKB". For further company information, visit ir.linkbancorp.com.

Forward Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties associated with newly developed or acquired operations; changes in general economic trends, including inflation, tariffs and changes in interest rates; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; adverse developments in borrower industries and, in particular, declines in real estate values; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and the effects of any cybersecurity breaches. In addition, factors from the proposed merger with Burke & Herbert that could cause actual results to differ materially include the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between Burke & Herbert and the Company; the outcome of any legal proceedings that may be instituted against Burke & Herbert or the Company; the possibility that the proposed transaction will not close when expected or at all because required regulatory, shareholder or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated (and the risk that required regulatory approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction); the ability of Burke & Herbert and the Company to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of either or both parties to the proposed transaction; the possibility that the anticipated benefits of the proposed transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Burke & Herbert and the Company do business; certain restrictions during the pendency of the proposed transaction that may impact the parties' ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management's attention from ongoing business operations and opportunities; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate the Company's operations and those of Burke & Herbert; such integration may be more difficult, time- consuming or costly than expected; revenues following the proposed transaction may be lower than expected; Burke & Herbert's and the Company's success in executing their respective business plans and strategies and managing the risks involved in the foregoing; the dilution caused by Burke & Herbert's issuance of additional shares of its capital stock in connection with the proposed transaction; effects of the announcement, pendency or completion of the proposed transaction on the ability of Burke & Herbert and the Company to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally; and risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction and other factors that may affect future results of Burke & Herbert and the Company; and the other factors discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of each of Burke & Herbert's and the Company's Quarterly Report on Form 10–Q for the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025, and other reports Burke & Herbert and the Company file with the Securities and Exchange Commission (the "SEC").

The Company does not undertake, and specifically disclaims, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.

Additional Information and Where to Find It

In connection with the proposed transaction, Burke & Herbert will file a registration statement on Form S-4 with the SEC to register the shares of Burke & Herbert common stock to be issued in connection with the proposed transaction. The registration statement will include a joint proxy statement of Burke & Herbert and the Company, which also constitutes a prospectus of Burke & Herbert, that will be sent to shareholders of Burke & Herbert and shareholders of the Company seeking certain approvals related to the proposed transaction. Each of Burke & Herbert and the Company may file with the SEC other relevant documents concerning the proposed transaction. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. INVESTORS AND SHAREHOLDERS OF THE COMPANY AND THEIR RESPECTIVE AFFILIATES ARE URGED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT ON FORM S-4, THE JOINT PROXY STATEMENT/PROSPECTUS TO BE INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BURKE & HERBERT, THE COMPANY AND THE PROPOSED TRANSACTION. Investors and shareholders will be able to obtain a free copy of the registration statement, including the joint proxy statement/prospectus, as well as other relevant documents filed with the SEC containing information about Burke & Herbert and the Company, without charge, at the SEC's website www.sec.gov. Copies of documents filed with the SEC by Burke & Herbert will be made available free of charge in the "Investor Relations" section of Burke & Herbert's website, www.burkeandherbertbank.com, under the heading "Financials." Copies of documents filed with the SEC by the Company will be made available free of charge in the "Investor Relations" section of the Company's website, www.linkbank.com, under the heading "Financials." The information on Burke & Herbert's or the Company's respective websites is not, and shall not be deemed to be, a part of this press release or incorporated into other filings either company makes with the SEC.

Participants in Solicitation

Burke & Herbert, the Company, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from shareholders of Burke & Herbert and shareholders of the Company in respect of the proposed transaction under the rules of the SEC. Information regarding Burke & Herbert's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on March 31, 2025, and certain other documents filed by Burke & Herbert with the SEC. Information regarding the Company's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 17, 2025, and certain other documents filed by the Company with the SEC. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

LB-E

LB-D

LINKBANCORP, Inc. and Subsidiaries

Consolidated Balance Sheet (Unaudited)

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2024

(In Thousands, except share and per share data)

ASSETS

Noninterest-bearing cash equivalents

$ 15,482

$ 15,321

$ 15,319

$ 14,830

$ 13,834

Interest-bearing deposits with other institutions

36,811

178,832

139,764

205,352

152,266

Cash and cash equivalents

52,293

194,153

155,083

220,182

166,100

Securities available for sale, at fair value

262,620

267,930

169,569

159,183

145,590

Securities held to maturity, net of allowance for credit losses

25,485

26,595

26,809

27,662

31,508

Loans receivable, gross

2,556,729

2,456,977

2,356,609

2,273,941

2,255,749

Allowance for credit losses - loans

(31,674)

(25,342)

(24,651)

(26,619)

(26,435)

Loans receivable, net

2,525,055

2,431,635

2,331,958

2,247,322

2,229,314

Investments in restricted bank stock

7,735

4,791

4,821

4,780

5,209

Premises and equipment, net

15,957

15,822

15,861

17,920

18,029

Right-of-Use Asset – premises

15,225

15,632

15,410

14,537

14,913

Bank-owned life insurance

53,708

53,263

52,943

52,507

52,079

Goodwill and other intangible assets

74,172

75,213

76,296

77,379

79,761

Deferred tax asset

15,952

15,003

16,474

16,729

18,866

Assets held for sale

—

94,146

Accrued interest receivable and other assets

21,790

22,334

21,330

23,288

23,263

TOTAL ASSETS

$ 3,069,992

$ 3,122,371

$ 2,886,554

$ 2,861,489

$ 2,878,778

LIABILITIES

Deposits:

Demand, noninterest bearing

$ 603,728

$ 640,100

$ 646,654

$ 646,002

$ 658,646

Interest bearing

1,951,024

2,027,999

1,809,755

1,787,692

1,701,936

Total deposits

2,554,752

2,668,099

2,456,409

2,433,694

2,360,582

Long-term borrowings

—

40,000

Short-term borrowings

115,000

—

10,000

Note payable

—

559

565

Subordinated debt

62,281

62,255

62,279

62,129

61,984

Lease liabilities

15,564

15,965

15,740

15,284

15,666

Liabilities held for sale

—

93,777

Accrued interest payable and other liabilities

15,963

30,595

14,128

15,757

15,983

TOTAL LIABILITIES

2,763,560

2,816,914

2,588,556

2,567,423

2,598,557

SHAREHOLDERS' EQUITY

Preferred stock

—

Common stock

370

Surplus

266,090

265,637

265,293

264,871

264,449

Retained earnings

42,300

42,157

37,107

32,507

19,947

Accumulated other comprehensive loss

(2,328)

(2,707)

(4,772)

(3,682)

(4,545)

TOTAL SHAREHOLDERS' EQUITY

306,432

305,457

297,998

294,066

280,221

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$ 3,069,992

$ 3,122,371

$ 2,886,554

$ 2,861,489

$ 2,878,778

Common shares outstanding

37,457,914

37,447,026

37,441,879

37,377,342

37,370,917

LINKBANCORP, Inc. and Subsidiaries

Consolidated Statements of Operations (Unaudited)

Three Months Ended

Twelve Months Ended

12/31/2025

9/30/2025

12/31/2024

12/31/2025

12/31/2024

(In Thousands, except share and per share data)

INTEREST AND DIVIDEND INCOME

Loans receivable, including fees

$ 39,123

$ 37,755

$ 37,082

$ 149,951

$ 146,175

Other

3,974

4,269

3,224

14,638

12,549

Total interest and dividend income

43,097

42,024

40,306

164,589

158,724

INTEREST EXPENSE

Deposits

13,614

13,677

12,823

52,115

51,033

Other Borrowings

1,098

950

962

3,965

3,977

Subordinated Debt

1,261

1,011

976

4,219

3,820

Total interest expense

15,973

15,638

14,761

60,299

58,830

NET INTEREST INCOME BEFORE

PROVISION FOR CREDIT LOSSES

27,124

26,386

25,545

104,290

99,894

Provision for credit losses

6,594

1,003

132

8,169

257

NET INTEREST INCOME AFTER

PROVISION FOR CREDIT LOSSES

20,530

25,383

25,413

96,121

99,637

NONINTEREST INCOME

Service charges on deposit accounts

1,074

1,120

1,339

4,311

4,036

Bank-owned life insurance

445

463

433

1,772

1,633

Net realized gains (losses) on the sale of debt securities

—

Gain on sale of loans

358

157

719

270

Gain on sale of branches

—

11,093

—

Other

1,043

1,065

752

4,020

2,919

Total noninterest income

2,920

2,805

2,594

21,915

8,862

NONINTEREST EXPENSE

Salaries and employee benefits

11,223

10,513

10,147

43,144

41,061

Occupancy

1,373

1,356

1,368

5,501

5,945

Equipment and data processing

1,631

2,063

1,884

7,789

7,174

Professional fees

745

593

531

2,553

2,830

FDIC insurance and supervisory fees

255

439

687

1,830

2,396

Intangible amortization

1,041

1,083

1,162

4,291

4,778

Merger & restructuring expenses

650

—

707

914

Advertising

155

128

603

633

Other

2,466

1,996

2,339

9,015

9,173

Total noninterest expense

19,539

18,171

18,302

75,433

74,904

Income before income tax expense

3,911

10,017

9,705

42,603

33,595

Income tax expense

969

2,178

2,121

9,092

7,386

NET INCOME

$ 2,942

$ 7,839

$ 7,584

$ 33,511

$ 26,209

EARNINGS PER SHARE, BASIC

$ 0.08

$ 0.21

$ 0.20

$ 0.90

$ 0.71

EARNINGS PER SHARE, DILUTED

$ 0.08

$ 0.21

$ 0.20

$ 0.90

$ 0.71

WEIGHTED-AVERAGE COMMON SHARES

OUTSTANDING,

BASIC

37,266,414

37,192,313

37,045,701

37,173,548

36,990,672

DILUTED

37,415,446

37,335,646

37,166,107

37,315,644

37,105,614

LINKBANCORP, Inc. and Subsidiaries

Financial Highlights (Unaudited)

For the Three Months Ended

For the Twelve Months Ended

(Dollars In Thousands, except per share data)

12/31/2025

9/30/2025

12/31/2024

12/31/2025

12/31/2024

Operating Highlights

Net Income

$ 2,942

$ 7,839

$ 7,584

$ 33,511

$ 26,209

Net Interest Income

27,124

26,386

25,545

104,290

99,894

Provision for Credit Losses

6,594

1,003

132

8,169

257

Non-Interest Income

2,920

2,805

2,594

21,915

8,862

Non-Interest Expense

19,539

18,171

18,302

75,433

74,904

Earnings per Share, Basic

0.08

0.21

0.20

0.90

0.71

Adjusted Earnings per Share, Basic (2)

0.10

0.21

0.71

0.73

Earnings per Share, Diluted

0.08

0.21

0.20

0.90

0.71

Adjusted Earnings per Share, Diluted (2)

0.10

0.21

0.71

0.73

Selected Operating Ratios

Net Interest Margin

3.74 %

3.75 %

3.85 %

3.81 %

3.88 %

Annualized Return on Assets ("ROA")

0.38 %

1.04 %

1.06 %

1.14 %

0.94 %

Adjusted ROA 2

0.50 %

1.04 %

1.07 %

0.90 %

0.97 %

Annualized Return on Equity ("ROE")

3.78 %

10.33 %

10.82 %

11.28 %

9.62 %

Adjusted ROE 2

4.93 %

10.33 %

10.88 %

8.92 %

9.89 %

Efficiency Ratio

65.03 %

62.25 %

65.04 %

59.77 %

68.87 %

Adjusted Efficiency Ratio 3

61.21 %

62.25 %

64.84 %

63.72 %

68.04 %

Noninterest Income to Avg. Assets

0.38 %

0.37 %

0.36 %

0.75 %

0.32 %

Noninterest Expense to Avg. Assets

2.52 %

2.42 %

2.56 %

2.57 %

2.70 %

12/31/2025

9/30/2025

6/30/2025

3/31/2025

12/31/2024

Financial Condition Data

Total Assets

$ 3,069,992

$ 3,122,371

$ 2,886,554

$ 2,861,489

$ 2,878,778

Loans Receivable, Net

2,525,055

2,431,635

2,331,958

2,247,322

2,229,314

Noninterest-bearing Deposits

603,728

640,100

646,654

646,002

658,646

Interest-bearing Deposits

1,951,024

2,027,999

1,809,755

1,787,692

1,701,936

Total Deposits

$ 2,554,752

$ 2,668,099

$ 2,456,409

$ 2,433,694

$ 2,360,582

Selected Balance Sheet Ratios

Total Capital Ratio 1

12.07 %

12.31 %

12.43 %

12.61 %

11.55 %

Tier 1 Capital Ratio 1

10.94 %

11.39 %

11.51 %

11.71 %

10.74 %

Common Equity Tier 1 Capital Ratio 1

10.94 %

11.39 %

11.51 %

11.71 %

10.74 %

Leverage Ratio 1

9.69 %

9.95 %

10.34 %

10.02 %

9.49 %

Tangible Common Equity to Tangible Assets 4

7.75 %

7.56 %

7.89 %

7.78 %

7.16 %

Tangible Book Value per Share 5

$ 6.20

$ 6.15

$ 5.92

$ 5.80

$ 5.36

Asset Quality Data

Non-performing Assets

$ 24,393

$ 24,627

$ 21,877

$ 26,041

$ 17,173

Non-performing Assets to Total Assets

0.79 %

0.76 %

0.91 %

0.60 %

Non-performing Loans to Total Loans

0.95 %

1.00 %

0.93 %

1.15 %

0.76 %

Allowance for Credit Losses - Loans ("ACLL")

$ 31,674

$ 25,342

$ 24,651

$ 26,619

$ 26,435

ACLL to Total Loans

1.24 %

1.03 %

1.05 %

1.17 %

ACLL to Nonperforming Assets

129.85 %

102.90 %

112.68 %

102.22 %

153.93 %

Net chargeoffs (recoveries) (6)

$ (57)

$ 300

$ 40

$ 81

$ 252

(1) - These capital ratios have been calculated using bank-level capital

(2) - This is a non-GAAP financial measure. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

(3) - The efficiency ratio, as adjusted represents noninterest expense divided by the sum of net interest income and noninterest income, excluding gains or losses from securities sales and merger related expenses. This is a non-GAAP financial measure. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

(4) - We calculate tangible common equity as total shareholders' equity less goodwill and other intangibles, and we calculate tangible assets as total assets less goodwill and other intangibles. This is a non-GAAP financial measure. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

(5) - We calculate tangible book value per common share as total shareholders' equity less goodwill and other intangibles, divided by the outstanding number of shares of our common stock at the end of the relevant period. Tangible book value per common share is a non-GAAP financial measure, and, as we calculate tangible book value per common share, the most directly comparable GAAP financial measure is book value per common share. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures at the end of this release.

(6) - Charge offs for the twelve months ended December 31, 2025 do not include the impact of a settlement of a purchase credit deteriorated loan ("PCD") that resulted in a net decrease to the allowance of $2.0 million, which was covered by a specific reserve established on this PCD loan at the time of acquisition.

LINKBANCORP, Inc. and Subsidiaries

Net Interest Margin - Linked Quarter-To-Date (Unaudited)

For the Three Months Ended

December 31, 2025

September 30, 2025

(Dollars in thousands)

Avg Bal

Interest (2)

Yield/Rate

Avg Bal

Interest (2)

Yield/Rate

Int. Earn. Cash

$ 90,179

$ 672

2.96 %

$ 190,584

$ 1,893

3.94 %

Securities

Taxable (1)

247,687

2,950

4.73 %

162,865

2,089

5.09 %

Tax-Exempt

44,550

474

4.22 %

42,763

363

3.37 %

Total Securities

292,237

3,424

4.65 %

205,628

2,452

4.73 %

Total Cash Equiv. and Investments

382,416

4,096

4.25 %

396,212

4,345

4.35 %

Total Loans (3)

2,497,355

39,123

6.22 %

2,393,119

37,755

6.26 %

Total Earning Assets

2,879,771

43,219

5.95 %

2,789,331

42,100

5.99 %

Other Assets

191,711

194,442

Total Assets

$ 3,071,482

$ 2,983,773

Interest bearing demand

$ 644,650

3,643

2.24 %

$ 592,572

3,498

2.34 %

Money market demand

633,856

3,597

2.25 %

635,450

3,985

2.49 %

Time deposits

630,472

6,374

4.01 %

623,505

6,194

3.94 %

Total Borrowings

182,877

2,359

5.12 %

153,493

1,961

5.07 %

Total Interest-Bearing Liabilities

2,091,855

15,973

3.03 %

2,005,020

15,638

3.09 %

Non Interest-Bearing Deposits

635,055

646,608

Total Cost of Funds

2,726,910

15,973

2.32 %

2,651,628

15,638

2.34 %

Other Liabilities

35,907

31,044

Total Liabilities

2,762,817

2,682,672

Shareholders' Equity

308,665

301,101

Total Liabilities & Shareholders' Equity

$ 3,071,482

$ 2,983,773

Net Interest Income/Spread (FTE)

27,246

2.92 %

26,462

2.90 %

Tax-Equivalent Basis Adjustment

(122)

(76)

Net Interest Income

$ 27,124

$ 26,386

Net Interest Margin

3.74 %

3.75 %

(1) Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks.

(2) Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table

(3) Includes the balances of nonaccrual loans

LINKBANCORP, Inc. and Subsidiaries

Net Interest Margin - Quarter-To-Date (Unaudited)

For the Three Months Ended December 31,

2025

2024

(Dollars in thousands)

Avg Bal

Interest (2)

Yield/Rate

Avg Bal

Interest (2)

Yield/Rate

Int. Earn. Cash

$ 90,179

$ 672

2.96 %

$ 128,802

$ 1,300

4.02 %

Securities

Taxable (1)

247,687

2,950

4.73 %

138,168

1,540

4.43 %

Tax-Exempt

44,550

474

4.22 %

44,958

486

4.30 %

Total Securities

292,237

3,424

4.65 %

183,126

2,026

4.40 %

Total Cash Equiv. and Investments

382,416

4,096

4.25 %

311,928

3,326

4.24 %

Total Loans (3)

2,497,355

39,123

6.22 %

2,327,829

37,082

6.34 %

Total Earning Assets

2,879,771

43,219

5.95 %

2,639,757

40,408

6.09 %

Other Assets

191,711

202,693

Total Assets

$ 3,071,482

$ 2,842,450

Interest bearing demand

$ 644,650

3,643

2.24 %

$ 537,856

3,043

2.25 %

Money market demand

633,856

3,597

2.25 %

567,593

3,139

2.20 %

Time deposits

630,472

6,374

4.01 %

607,231

6,641

4.35 %

Total Borrowings

182,877

2,359

5.12 %

153,117

1,938

5.04 %

Total Interest-Bearing Liabilities

2,091,855

15,973

3.03 %

1,865,797

14,761

3.15 %

Non Interest-Bearing Deposits

635,055

665,276

Total Cost of Funds

2,726,910

15,973

2.32 %

2,531,073

14,761

2.32 %

Other Liabilities

35,907

32,493

Total Liabilities

2,762,817

2,563,566

Shareholders' Equity

308,665

278,884

Total Liabilities & Shareholders' Equity

$ 3,071,482

$ 2,842,450

Net Interest Income/Spread (FTE)

27,246

2.92 %

25,647

2.94 %

Tax-Equivalent Basis Adjustment

(122)

(102)

Net Interest Income

$ 27,124

$ 25,545

Net Interest Margin

3.74 %

3.85 %

(1) Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks.

(2) Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table

(3) Includes the balances of nonaccrual loans

LINKBANCORP, Inc. and Subsidiaries

Net Interest Margin - Year-To-Date (Unaudited)

For the Twelve Months Ended December 31,

2025

2024

(Dollars in thousands)

Avg Bal

Interest (2)

Yield/Rate

Avg Bal

Interest (2)

Yield/Rate

Int. Earn. Cash

$ 126,531

$ 4,633

3.66 %

$ 111,790

$ 4,890

4.37 %

Securities

Taxable (1)

176,647

8,608

4.87 %

128,140

6,206

4.84 %

Tax-Exempt

43,468

1,768

4.07 %

43,134

1,839

4.26 %

Total Securities

220,115

10,376

4.71 %

171,274

8,045

4.70 %

Total Cash Equiv. and Investments

346,646

15,009

4.33 %

283,064

12,935

4.57 %

Total Loans (3)

2,392,590

149,951

6.27 %

2,290,618

146,175

6.38 %

Total Earning Assets

2,739,236

164,960

6.02 %

2,573,682

159,110

6.18 %

Other Assets

192,063

205,568

Total Assets

$ 2,931,299

$ 2,779,250

Interest bearing demand

$ 582,618

$ 13,396

2.30 %

$ 476,686

$ 10,344

2.17 %

Money market demand

595,229

13,619

2.29 %

579,232

12,981

2.24 %

Time deposits

596,161

25,100

4.21 %

617,894

27,708

4.48 %

Total Borrowings

187,859

8,184

4.36 %

149,572

7,797

5.21 %

Total Interest-Bearing Liabilities

1,961,867

60,299

3.07 %

1,823,384

58,830

3.23 %

Non Interest-Bearing Deposits

640,536

653,966

Total Cost of Funds

$ 2,602,403

$ 60,299

2.32 %

$ 2,477,350

$ 58,830

2.37 %

Other Liabilities

31,938

29,515

Total Liabilities

$ 2,634,341

$ 2,506,865

Shareholders' Equity

$ 296,958

$ 272,385

Total Liabilities & Shareholders' Equity

$ 2,931,299

$ 2,779,250

Net Interest Income/Spread (FTE)

104,661

2.95 %

100,280

2.95 %

Tax-Equivalent Basis Adjustment

(371)

(386)

Net Interest Income

$ 104,290

$ 99,894

Net Interest Margin

3.81 %

3.88 %

(1) Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks.

(2) Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table

(3) Includes the balances of nonaccrual loans

LINKBANCORP, Inc. and Subsidiaries

Loans Receivable Detail (Unaudited)

(In Thousands)

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2024

Agriculture and farmland loans

$ 61,611

$ 62,098

$ 61,996

$ 66,684

$ 67,741

Construction loans

172,917

155,542

140,976

136,421

158,296

Commercial & industrial loans

275,824

266,765

259,877

257,302

252,163

Commercial real estate loans

Multifamily

244,554

236,534

231,469

215,916

217,331

Owner occupied

545,837

522,674

502,515

472,895

493,906

Non-owner occupied

771,537

730,740

681,521

645,793

658,615

Residential real estate loans

First liens

377,108

377,226

375,879

378,420

399,476

Second liens and lines of credit

87,051

84,395

81,194

79,905

78,410

Consumer and other loans

17,062

17,645

17,525

17,097

17,087

Municipal loans

2,767

2,816

2,917

3,012

3,886

2,556,268

2,456,435

2,355,869

2,273,445

2,346,911

Deferred costs

461

542

740

496

645

Total loans receivable

2,556,729

2,456,977

2,356,609

2,273,941

2,347,556

Less: Loans held for sale

—

91,807

Loans Held for Investment

$ 2,556,729

$ 2,456,977

$ 2,356,609

$ 2,273,941

$ 2,255,749

LINKBANCORP, Inc. and Subsidiaries

Loan Growth Calculation Excluding Branch Sale (Unaudited)

(In Thousands)

December 31,

2025

Total Loans at December 31, 2025

$ 2,556,729

Total Loans at December 31, 2024

2,347,556

Year-to-date Change

209,173

Net Book Value of Loans Sold

97,952

Loan Growth Excluding Branch Sale

307,125

Annualized Growth Rate

13.08 %

LINKBANCORP, Inc. and Subsidiaries

Investments in Securities Detail (Unaudited)

December 31, 2025

(In Thousands)

Amortized

Cost

Net

Unrealized Gains

(Losses)

Fair

Value

Available for Sale:

US Government Agency securities

$ 11,337

$ 292

$ 11,629

Obligations of state and political subdivisions

49,892

(2,378)

47,514

Mortgage-backed securities in government-sponsored entities

203,984

(935)

203,049

Other securities

434

(6)

428

$ 265,647

$ (3,027)

$ 262,620

Amortized

Cost

Net Unrealized

Losses

Fair Value

Allowance for

Credit Losses

Held to Maturity:

Corporate debentures

$ 12,250

$ (367)

$ 11,883

$ (391)

Structured mortgage-backed securities

13,626

(298)

13,328

—

$ 25,876

$ (665)

$ 25,211

$ (391)

December 31, 2024

(In Thousands)

Amortized

Cost

Net

Unrealized Gains

(Losses)

Fair

Value

Available for Sale:

US Government Agency securities

$ 13,017

$ 56

$ 13,073

Obligations of state and political subdivisions

51,254

(4,053)

47,201

Mortgage-backed securities in government-sponsored entities

88,289

(3,506)

84,783

Other securities

542

(9)

533

$ 153,102

$ (7,512)

$ 145,590

Amortized

Cost

Net Unrealized

Losses

Fair Value

Allowance for

Credit Losses

Held to Maturity:

Corporate debentures

$ 15,250

$ (984)

$ 14,266

$ (459)

Structured mortgage-backed securities

16,717

(699)

16,018

—

$ 31,967

$ (1,683)

$ 30,284

$ (459)

LINKBANCORP, Inc. and Subsidiaries

Deposits Detail (Unaudited)

(In Thousands)

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2024

Demand, noninterest-bearing

$ 603,728

$ 640,100

$ 646,654

$ 646,002

$ 686,510

Demand, interest-bearing

658,523

677,496

576,050

577,170

537,546

Money market and savings

617,534

656,727

580,143

553,240

553,807

Time deposits, $250 and over

210,105

201,648

177,897

166,441

167,165

Time deposits, other

429,862

417,128

400,665

387,226

405,493

Brokered deposits

35,000

75,000

103,615

2,554,752

2,668,099

2,456,409

2,433,694

2,454,136

Less: Deposits held for sale

—

93,554

Total deposits

$ 2,554,752

$ 2,668,099

$ 2,456,409

$ 2,433,694

$ 2,360,582

Average Deposits Detail, for the Three Months Ended (Unaudited)

(In Thousands)

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2024

Demand, noninterest-bearing

$ 635,055

$ 646,608

$ 628,962

$ 649,440

$ 665,276

Demand, interest-bearing

644,650

592,572

547,177

545,475

537,856

Money market and savings

633,856

635,450

553,294

555,663

567,593

Time deposits

630,472

599,048

575,205

576,366

568,615

Brokered deposits

11,467

24,457

34,117

56,283

38,616

Total deposits

$ 2,555,500

$ 2,498,135

$ 2,338,755

$ 2,383,227

$ 2,377,956

Balances in table above include deposits held for sale for the three months ended December 31, 2024.

LINKBANCORP, Inc. and Subsidiaries

Core Deposit Growth Calculation Excluding Branch Sale (Unaudited)

(In Thousands)

December 31, 2025

Total Deposits at December 31, 2025

$ 2,554,752

Less: Brokered Deposits at December 31, 2025

(35,000)

Total Core Deposits at December 31, 2025

$ 2,519,752

Total Deposits at December 31, 2024

$ 2,454,136

Less: Brokered Deposits at December 31, 2024

(103,615)

Total Core Deposits at December 31, 2024

$ 2,350,521

Year-to-date Change in Core Deposits

169,231

Net Book Value of Deposits Sold

87,086

Deposit Growth Excluding Branch Sale

256,317

Annualized Growth Rate

10.90 %

Appendix A – Reconciliation to Non-GAAP Financial Measures

This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these non-GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by us. As a complement to GAAP financial measures, our management believes these non-GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-GAAP measures. See the tables below for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.

Adjusted Return on Average Assets

For the Three Months Ended

For the Twelve Months Ended

(Dollars in thousands)

12/31/2025

9/30/2025

12/31/2024

12/31/2025

12/31/2024

Net income

$ 2,942

$ 7,839

$ 7,584

$ 33,511

$ 26,209

Average assets

3,071,482

2,983,773

2,842,450

2,931,299

2,779,250

Return on average assets (annualized)

0.38 %

1.04 %

1.06 %

1.14 %

0.94 %

Net income

$ 2,942

$ 7,839

$ 7,584

33,511

26,209

Gain on sale of branches

—

(11,093)

—

Tax effect (1)

—

2,440

—

Transaction bonus accrual

—

490

—

Tax effect (1)

—

(108)

—

Board restructuring accrual

—

381

—

Tax effect (1)

—

(84)

—

Net (gains) losses on sale or impairment of assets

500

—

500

(4)

Tax effect (1)

(110)

—

(110)

Merger & restructuring expenses

650

—

707

914

Tax effect (1)

(143)

—

(12)

(156)

(192)

Adjusted Net Income (Non-GAAP)

$ 3,839

$ 7,839

$ 7,628

$ 26,478

26,928

Average assets

$ 3,071,482

$ 2,983,773

$ 2,842,450

$ 2,931,299

2,779,250

Adjusted return on average assets (annualized)

(Non-GAAP)

0.50 %

1.04 %

1.07 %

0.90 %

0.97 %

(1) Tax effect was 22% for the three months ended December 31, 2025 and September 30, 2025, and twelve months ended December 31, 2025, and 21% for all other periods

Adjusted Return on Average Shareholders' Equity

For the Three Months Ended

For the Twelve Months Ended

(Dollars in thousands)

12/31/2025

9/30/2025

12/31/2024

12/31/2025

12/31/2024

Net income

$ 2,942

$ 7,839

$ 7,584

$ 33,511

$ 26,209

Average shareholders' equity

308,665

301,101

278,884

296,958

272,385

Return on average shareholders' equity (annualized)

3.78 %

10.33 %

10.82 %

11.28 %

9.62 %

Net income

$ 2,942

$ 7,839

$ 7,584

$ 33,511

$ 26,209

Gain on sale of branches

—

(11,093)

—

Tax effect (1)

—

2,440

—

Transaction bonus accrual

—

490

—

Tax effect (1)

—

(108)

—

Board restructuring accrual

—

381

—

Tax effect (1)

—

(84)

—

Merger & restructuring expenses

650

—

707

914

Tax effect (1)

(143)

—

(12)

(156)

(192)

Net (gains) losses on sale or impairment of assets

500

—

500

(4)

Tax effect (1)

(110)

—

(110)

Adjusted Net Income (Non-GAAP)

$ 3,839

$ 7,839

$ 7,628

$ 26,478

$ 26,928

Average shareholders' equity

$ 308,665

$ 301,101

$ 278,884

$ 296,958

$ 272,385

Adjusted return on average shareholders' equity (annualized)

(Non-GAAP)

4.93 %

10.33 %

10.88 %

8.92 %

9.89 %

(1) Tax effect was 22% for the three months ended December 31, 2025 and September 30, 2025, and twelve months ended December 31, 2025, and 21% for all other periods

Adjusted Earnings Per Share

For the Three Months Ended

For the Twelve Months Ended

(Dollars in thousands, except per share data)

12/31/2025

9/30/2025

12/31/2024

12/31/2025

12/31/2024

GAAP-Based Earnings Per Share, Basic

$ 0.08

$ 0.21

$ 0.20

$ 0.90

$ 0.71

GAAP-Based Earnings Per Share, Diluted

$ 0.08

$ 0.21

$ 0.20

$ 0.90

$ 0.71

Net Income

$ 2,942

$ 7,839

$ 7,584

$ 33,511

$ 26,209

Gain on sale of branches

—

(11,093)

—

Tax effect (1)

—

2,440

—

Transaction bonus accrual

—

490

—

Tax effect (1)

—

(108)

—

Board restructuring accrual

—

381

—

Tax effect (1)

—

(84)

—

Merger & restructuring expenses

650

—

707

914

Tax effect (1)

(143)

—

(12)

(156)

(192)

Net (gains) losses on sale or impairment of assets

500

—

500

(4)

Tax effect (1)

(110)

—

(110)

Adjusted Net Income (Non-GAAP)

$ 3,839

$ 7,839

$ 7,628

$ 26,478

$ 26,928

Adjusted Earnings per Share, Basic (Non-GAAP)

$ 0.10

$ 0.21

$ 0.71

$ 0.73

Adjusted Earnings per Share, Diluted (Non-GAAP)

$ 0.10

$ 0.21

$ 0.71

$ 0.73

(1) Tax effect was 22% for the three months ended December 31, 2025 and September 30, 2025, and twelve months ended December 31, 2025, and 21% for all other periods

Adjusted Pre-tax, Pre-provision Net Income (Non-GAAP)

For the Three Months Ended

For the Twelve Months Ended

(Dollars in thousands, except per share data)

12/31/2025

9/30/2025

12/31/2024

12/31/2025

12/31/2024

Net Income (GAAP)

$ 2,942

$ 7,839

$ 7,584

$ 33,511

$ 26,209

Gain on sale of branches

—

(11,093)

—

Tax effect (1)

—

2,440

—

Transaction bonus accrual

—

490

—

Tax effect (1)

—

(108)

—

Board restructuring accrual

—

381

—

Tax effect (1)

—

(84)

—

Net (gains) losses on sale or impairment of assets

500

—

500

(4)

Tax effect (1)

(110)

—

(110)

Merger & restructuring expenses

650

—

707

914

Tax effect (1)

(143)

—

(12)

(156)

(192)

Adjusted Net Income (Non-GAAP)

3,839

7,839

7,628

26,478

26,928

Income tax expense

969

2,178

2,121

9,092

7,386

Provision for credit losses

6,594

1,003

132

8,169

257

Tax effect included in Adjusted Net Income

253

—

(1,982)

191

Adjusted Pre-tax, Pre-provision Net Income (Non-GAAP)

$ 11,655

$ 11,020

$ 9,893

$ 41,757

$ 34,762

(1) Tax effect was 22% for the three months ended December 31, 2025 and September 30, 2025, and twelve months ended December 31, 2025, and 21% for all other periods

Tangible Common Equity and Tangible Book Value

(Dollars in thousands, except per share data)

12/31/2025

9/30/2025

6/30/2025

3/31/2025

12/31/2024

Tangible Common Equity

Total shareholders' equity

$ 306,432

$ 305,457

$ 297,998

$ 294,066

$ 280,221

Adjustments:

Goodwill

(58,806)

Other intangible assets

(15,366)

(16,407)

(17,490)

(18,573)

(20,955)

Tangible common equity (Non-GAAP)

$ 232,260

$ 230,244

$ 221,702

$ 216,687

$ 200,460

Common shares outstanding

37,457,914

37,447,026

37,441,879

37,377,342

37,370,917

Book value per common share

$ 8.18

$ 8.16

$ 7.96

$ 7.87

$ 7.50

Tangible book value per common share

(Non-GAAP)

$ 6.20

$ 6.15

$ 5.92

$ 5.80

$ 5.36

Tangible Assets

Total assets

$ 3,069,992

$ 3,122,371

$ 2,886,554

$ 2,861,489

$ 2,878,778

Adjustments:

Goodwill

(58,806)

Other intangible assets

(15,366)

(16,407)

(17,490)

(18,573)

(20,955)

Tangible assets (Non-GAAP)

$ 2,995,820

$ 3,047,158

$ 2,810,258

$ 2,784,110

$ 2,799,017

Tangible common equity to tangible

assets (Non-GAAP)

7.75 %

7.56 %

7.89 %

7.78 %

7.16 %

Return on Tangible Common Equity

For the Three Months Ended

For the Twelve Months Ended

(Dollars in thousands)

12/31/2025

Net income

$ 2,942

$ 33,511

Average shareholders' equity

308,665

296,958

Adjustments:

Goodwill

(58,806)

Other intangible assets

(16,020)

(15,366)

Average tangible common equity (Non-GAAP)

$ 233,839

$ 222,786

Return on tangible common equity (annualized) (Non-GAAP)

4.99 %

15.04 %

Adjusted Efficiency Ratio

For the Three Months Ended

For the Twelve Months Ended

(Dollars in thousands)

12/31/2025

9/30/2025

12/31/2024

12/31/2025

12/31/2024

GAAP-based efficiency ratio

65.03 %

62.25 %

65.04 %

59.77 %

68.87 %

Net interest income

$ 27,124

$ 26,386

$ 25,545

$ 104,290

$ 99,894

Noninterest income

2,920

2,805

2,594

21,915

8,862

Less: Gain on sale of branches

—

(11,093)

—

Less: net gains (losses) on sale of securities

—

(4)

Adjusted revenue (Non-GAAP)

30,044

29,191

28,139

115,112

108,752

Total noninterest expense

19,539

18,171

18,302

75,433

74,904

Less: Merger & restructuring expenses

650

—

707

914

Less: Transaction bonus accrual

—

490

—

Less: Board restructuring accrual

—

381

—

Less: Impairment of assets

500

—

500

—

Adjusted non-interest expense

$ 18,389

$ 18,171

$ 18,246

$ 73,355

$ 73,990

Efficiency ratio, as adjusted (Non-GAAP)

61.21 %

62.25 %

64.84 %

63.72 %

68.04 %

Adjusted noninterest expense (Non-GAAP)

For the Three Months Ended

(Dollars in thousands, except per share data)

12/31/2025

9/30/2025

6/30/2025

3/31/2025

12/31/2024

Noninterest expense - GAAP

$ 19,539

$ 18,171

$ 18,065

$ 19,658

$ 18,302

Merger & restructuring expenses

650

—

Transaction bonus accrual

—

490

—

Board restructuring accrual

—

381

—

Impairment of assets

500

—

Adjusted noninterest expense (Non-GAAP)

$ 18,389

$ 18,171

$ 18,049

$ 18,746

$ 18,246

Contact:

Nick West

Director, Corporate Development

717.678.7935

[email protected]

SOURCE LINKBANCORP, Inc.