Earnings release
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1 See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP measure. Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Nick West Director, Corporate Development 717.678.7935 IR@LINKBANCORP.COM LINKBANCORP, Inc. Announces Strong Second Quarter 2025 Earnings and Declares Dividend July 28, 2025 – HARRISBURG, PA – LINKBANCORP, Inc. (NASDAQ: LNKB) (the “Company”), the parent company of LINKBANK (the “Bank”), reported net income of $7.4 million, or $0.20 per diluted share, for the quarter ended June 30, 2025, compared to net income of $15.3 million, or $0.41 per diluted share, for the quarter ended March 31, 2025. Excluding the sale of branches, merger and restructuring related income and expenses, adjusted earnings were $7.4 million1, or $0.201 per diluted share for both the first and second quarter of 2025. 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 September 15, 2025 to shareholders of record on August 29, 2025.
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Page 2 of 21 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 Branch Sale Reconciliation Second Quarter 2025 Highlights • Stable, strong core earnings. Annualized return on average assets was 1.05% for the second quarter of 2025, compared to 2.19% for the first quarter of 2025 and 0.84% for the second quarter of 2024. Adjusted return on average assets was 1.05%1 for the second quarter of 2025, compared to 1.05%1 for the first quarter of 2025 and 0.91%1 for the second quarter of 2024. • Robust balance sheet growth. Total loans at June 30, 2025 were $2.36 billion, compared to $2.27 billion at March 31, 2025 and $2.35 billion at December 31, 2024, representing a quarterly increase of $82.7 million or 14.58% annualized and a year-to-date increase of $107.0 million2or 9.19% annualized excluding the impact of the sale of banking operations and branches in New Jersey, including related loans and deposits (the "Branch Sale"). Total deposits at June 30, 2025 were $2.46 billion compared to $2.43 billion at March 31, 2025 and $2.45 billion at December 31, 2024, representing a quarterly increase of $22.7 million, or 3.74% annualized and a year-to-date increase of $89.36 million2 or 7.34% excluding the impact of the Branch Sale. • Improving credit quality. The Company’s non-performing assets declined by $4.2 million to $21.9 million, representing 0.76% of total assets at June 30, 2025, compared to $26.0 million, representing 0.91% of total assets at March 31, 2025. This decrease was driven by resolutions to several loan relationships including a purchased credit deteriorated loan that was resolved at an amount greater than its purchase date fair value. The successful resolutions have decreased specific reserve needs by $2.5 million while enhancing the ratio of the allowance for credit losses-loans to nonperforming assets to 112.68% at June 30, 2025, compared to 102.22% at March 31, 2025.
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Page 3 of 21 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 Branch Sale Reconciliation • Disciplined expense management. GAAP noninterest expense for the second quarter of 2025 was $18.1 million with an efficiency ratio of 64.79%, compared to $19.7 million of GAAP noninterest expense with an efficiency ratio of 50.29% for the first quarter of 2025. Excluding non-core operating expenses, the adjusted noninterest expense decreased $697 thousand1 quarter over quarter from $18.7 million1 for the quarter ended March 31, 2025 to $18.0 million1for the quarter ended June 30, 2025. The Company’s adjusted efficiency ratio improved to 64.73%1 for the quarter ended June 30, 2025 compared to 66.96%1for the quarter ended March 31, 2025. “We are pleased to report another quarter of strong core earnings, combined with exceptional loan and deposit growth throughout our entire footprint,” said Andrew Samuel, Chief Executive Officer of LINKBANCORP. “We remain focused on improving operating efficiency and expanding noninterest income to support our core business and enabling us to deliver sustainable long-term value to our shareholders.” Income Statement Net interest income before the provision for credit losses for the second quarter of 2025 was $24.9 million compared to $25.8 million in the first quarter of 2025 and $24.5 million for the second quarter of 2024. Net interest margin was 3.80% for the second quarter of 2025 compared to 3.94% for the first quarter of 2025. Net interest income was impacted by a linked quarter decline in purchase accounting accretion, together with a decrease in the average balances of loans and deposits due to the March 31, 2025 completion of the Branch Sale. Interest income from purchase accounting accretion during the current quarter was approximately $922 thousand less than that recognized in the first quarter of 2025. Cost of funds increased to 2.31% for the second quarter of 2025, compared to 2.29% for the first quarter of 2025, reflecting the lower cost of deposits included in the Branch Sale as well as continued competition for deposits in the Bank’s markets. Noninterest income decreased quarter-over-quarter to $2.9 million for the second quarter of 2025 compared to $13.3 million for the first quarter of 2025 due to the $11.1 million pre-tax gain from the Branch Sale in the first quarter. Excluding the gain on sale of the New Jersey branches, noninterest income grew by $769 thousand quarter- over-quarter, including increases in swap fee
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Page 4 of 21 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 Branch Sale Reconciliation income and interchange income. Year-over-year, noninterest income increased $1.1 million from $1.9 million for the second quarter of 2024. Noninterest expense for the second quarter of 2025 was $18.1 million compared to $19.7 million for the first quarter of 2025 and $18.9 million for the second quarter of 2024. Excluding non-core operating costs totaling $16 thousand in the second quarter of 2025, $912 thousand in the first quarter of 2025 and $631 thousand in the second quarter of 2024, adjusted noninterest expense decreased $697 thousand1 from $18.7 million1for the first quarter of 2025 to $18.0 million1 for the second quarter of 2025 while decreasing $220 thousand1 year-over-year from $18.3 million1 for the second quarter of 2024. Adjusted non-interest expense for the first quarter of 2025 excludes expenses related to the reduction of the size of the Board of Directors included in other noninterest expense, as well as bonus accruals related to the completion of the Branch Sale included in salaries and employee benefits expense, and other merger and restructuring costs. Income tax expense was $2.1 million for the second quarter of 2025, reflecting an effective tax rate of 22.0% compared to $3.9 million for the first quarter of 2025, reflecting an effective tax rate of 20.1% and $1.6 million for the second quarter of 2024, reflecting an effective tax rate of 22.0%, respectively. The tax rate increased quarter- over-quarter due to a state income tax apportionment adjustment in the first quarter of 2025. Balance Sheet Total assets were $2.89 billion at June 30, 2025 compared to $2.86 billion at March 31, 2025 and $2.88 billion at December 31, 2024. Deposits and net loans as of June 30, 2025 totaled $2.46 billion and $2.33 billion, respectively, compared to deposits and net loans of $2.43 billion and $2.25 billion, respectively at March 31, 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 June 30, 2025 were $2.36 billion, compared to $2.27 billion at March 31, 2025, representing an increase of $82.7 million. Year-to-date, total loans have increased $107.0 million2 from December 31, 2024, excluding the impact of the Branch Sale, or 9.19% annualized. Total commercial loan commitments originated in the second quarter of 2025 were $154.6
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Page 5 of 21 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 Branch Sale Reconciliation million with funded balances of $137.1 million. The average commercial loan commitment originated during the second quarter of 2025 totaled approximately $985 thousand with an average outstanding funded balance of $873 thousand. Total deposits at June 30, 2025 were $2.46 billion compared to $2.43 billion at March 31, 2025, representing an increase of $22.7 million. Year-to-date, total deposits have increased $89.4 million2from December 31, 2024, excluding the impact of the Branch Sale, or 7.34% annualized. Noninterest bearing deposits totaled $646.7 million at June 30, 2025, generally flat from March 31, 2025. Brokered deposits decreased $28.6 million from $103.6 million at March 31, 2025 to $75.0 million at June 30, 2025. Excluding the $28.6 million change in brokered deposits and the impact from the Branch Sale, deposits increased $118.0 million2 year-to-date representing an annualized growth rate of 10.1%. The Company continues to maintain strong on-balance sheet liquidity, as cash and cash equivalents were $155.1 million at June 30, 2025 compared to $220.2 million at March 31, 2025 and $166.1 million at December 31, 2024. Shareholders’ equity increased to $298.0 million at June 30, 2025 from $294.1 million at March 31, 2025 primarily as a result of a $4.6 million increase in retained earnings. Book value per share increased to $7.96 at June 30, 2025 compared to $7.87 at March 31, 2025. Tangible book value per share increased to $5.921 at June 30, 2025 compared to $5.801 at March 31, 2025 and $5.071 at June 30, 2024, representing 17% growth year over year. Asset Quality The Company recorded a $344 thousand provision for credit losses during the second quarter of 2025, after recording a $228 thousand provision for credit losses in the first quarter of 2025. The increase in provision was primarily related to commercial loan growth during the second quarter of 2025. As of June 30, 2025, the Company’s non-performing assets declined by $4.2 million to $21.9 million, representing 0.76% of total assets, compared to $26.0 million, representing 0.91% of total assets at March 31, 2025. This improvement was driven largely by the favorable resolution of a purchased credit deteriorated (PCD) loan above its purchase date fair value.
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Page 6 of 21 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 Branch Sale Reconciliation Loans 30-89 days past due at June 30, 2025 were $14.5 million, representing 0.62% of total loans compared to $12.7 million or 0.56% of total loans at March 31, 2025 and $2.9 million or 0.13% of total loans at December 31, 2024. The allowance for credit losses for loans was $24.7 million, or 1.05% of total loans held for investment at June 30, 2025, compared to $26.6 million, or 1.17% of total loans held for investment at March 31, 2025. Due to the resolution of certain nonperforming loans resulting in the improvement in nonperforming assets noted above, the required specific reserve on loans decreased by $2.5 million from March 31, 2025 to June 30, 2025. The ratio of the allowance for credit losses for loans to nonperforming assets increased to 112.68% at June 30, 2025, compared to 102.22% at March 31, 2025. Net charge-offs continue to improve as the Company recorded $40 thousand in net charge-offs during the second quarter of 2025 compared to $81 thousand for the first quarter of 2025 and $252 thousand in the fourth quarter of 2024. Capital The Bank’s regulatory capital ratios were well in excess of regulatory minimums to be considered “well capitalized” as of June 30, 2025. The Bank’s Total Capital Ratio and Tier 1 Capital Ratio were 12.43% and 11.51% respectively, at June 30, 2025, compared to 12.61% and 11.71%, respectively, at March 31, 2025 and 11.09% and 10.30%, respectively, at June 30, 2024. The Company’s ratio of Tangible Common Equity to Tangible Assets was 7.89%1 at June 30, 2025 compared to 7.78%1 at March 31, 2025.
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Page 7 of 21 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 Branch Sale Reconciliation 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. 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.
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Page 8 of 21 LINKBANCORP, Inc. and Subsidiaries Consolidated Balance Sheet (Unaudited) June 30, 2025 March 31, 2025 December 31, 2024 Septembe r 30, 2024 June 30, 2024 (In Thousands, except share and per share data) ASSETS Noninterest-bearing cash equivalents $ 15,319 $ 14,830 $ 13,834 $ 15,295 $ 14,516 Interest-bearing deposits with other institutions 139,764 205,352 152,266 175,937 167,141 Cash and cash equivalents 155,083 220,182 166,100 191,232 181,657 Securities available for sale, at fair value 169,569 159,183 145,590 149,315 140,121 Securities held to maturity, net of allowance for credit losses 26,809 27,662 31,508 34,155 35,343 Loans receivable, gross 2,356,609 2,273,941 2,255,749 2,215,86 8 2,193,197 Allowance for credit losses - loans (24,651) (26,619) (26,435) (26,542) (26,288) Loans receivable, net 2,331,958 2,247,322 2,229,314 2,189,32 6 2,166,909 Investments in restricted bank stock 4,821 4,780 5,209 4,904 4,928 Premises and equipment, net 15,861 17,920 18,029 17,623 18,364 Right-of-Use Asset – premises 15,410 14,537 14,913 14,150 13,970 Bank-owned life insurance 52,943 52,507 52,079 51,646 49,616 Goodwill and other intangible assets 76,296 77,379 79,761 80,924 82,129 Deferred tax asset 16,474 16,729 18,866 21,662 22,024 Assets held for sale — — 94,146 104,660 118,362 Accrued interest receivable and other assets 21,330 23,288 23,263 20,344 25,170 TOTAL ASSETS $2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,94 1 $ 2,858,593 LIABILITIES Deposits: Demand, noninterest bearing $ 646,654 $ 646,002 $ 658,646 $ 658,473 $ 661,292 Interest bearing 1,809,755 1,787,692 1,701,936 1,714,17 9 1,699,220 Total deposits 2,456,409 2,433,694 2,360,582 2,372,65 2 2,360,512 Long-term borrowings 40,000 40,000 40,000 40,000 40,000 Short-term borrowings — — 10,000 — — Note payable — 559 565 572 578 Subordinated debt 62,279 62,129 61,984 61,843 61,706 Lease liabilities 15,740 15,284 15,666 14,911 14,746 Liabilities held for sale — — 93,777 94,228 96,916 Accrued interest payable and other liabilities 14,128 15,757 15,983 18,382 12,726 TOTAL LIABILITIES 2,588,556 2,567,423 2,598,557 2,602,58 8 2,587,184 SHAREHOLDERS’ EQUITY Preferred stock — — — — — Common stock 370 370 370 370 370 Surplus 265,293 264,871 264,449 264,059 263,795 Retained earnings 37,107 32,507 19,947 15,147 10,826 Accumulated other comprehensive loss (4,772) (3,682) (4,545) (2,223) (3,582) TOTAL SHAREHOLDERS' EQUITY 297,998 294,066 280,221 277,353 271,409 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,94 1 $ 2,858,593 Common shares outstanding 37,441,87 9 37,377,342 37,370,917 37,361,5 60 37,356,278
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Page 9 of 21 LINKBANCORP, Inc. and Subsidiaries Consolidated Statements of Operations (Unaudited) Three Months Ended Six Months Ended 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 (In Thousands, except share and per share data) INTEREST AND DIVIDEND INCOME Loans receivable, including fees $ 36,032 $ 37,041 $ 36,112 $ 73,073 $ 72,237 Other 3,294 3,101 3,337 6,395 5,987 Total interest and dividend income 39,326 40,142 39,449 79,468 78,224 INTEREST EXPENSE Deposits 12,467 12,357 13,071 24,824 24,918 Other Borrowings 931 986 932 1,917 2,018 Subordinated Debt 979 968 962 1,947 1,920 Total interest expense 14,377 14,311 14,965 28,688 28,856 NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES 24,949 25,831 24,484 50,780 49,368 Provision for credit losses 344 228 — 572 40 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 24,605 25,603 24,484 50,208 49,328 NONINTEREST INCOME Service charges on deposit accounts 1,056 1,061 865 2,117 1,645 Bank-owned life insurance 436 428 386 864 769 Net realized gains (losses) on the sale of debt securities — — 4 — 4 Gain on sale of loans 128 77 12 205 62 Gain on sale of branches — 11,093 — 11,093 — Other 1,313 598 591 1,911 1,107 Total noninterest income 2,933 13,257 1,858 16,190 3,587 NONINTEREST EXPENSE Salaries and employee benefits 10,252 11,156 9,941 21,408 21,059 Occupancy 1,308 1,464 1,559 2,772 3,137 Equipment and data processing 2,052 2,043 1,824 4,095 3,650 Professional fees 728 487 788 1,215 1,536 FDIC insurance and supervisory fees 537 599 545 1,136 897 Bank Shares Tax (82) 614 760 532 1,351 Intangible amortization 1,083 1,084 1,204 2,167 2,411 Merger & restructuring expenses 16 41 631 57 687 Advertising 176 144 241 320 475 Other 1,995 2,026 1,407 4,021 2,947 Total noninterest expense 18,065 19,658 18,900 37,723 38,150 Income before income tax expense 9,473 19,202 7,442 28,675 14,765 Income tax expense 2,086 3,859 1,638 5,945 3,235 NET INCOME $ 7,387 $ 15,343 $ 5,804 $ 22,730 $ 11,530 EARNINGS PER SHARE, BASIC $ 0.20 $ 0.41 $ 0.16 $ 0.61 $ 0.31 EARNINGS PER SHARE, DILUTED $ 0.20 $ 0.41 $ 0.16 $ 0.61 $ 0.31 WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING, BASIC 37,136,8 51 37,105,48 0 36,970,76 8 37,122,88 3 36,966,37 1 DILUTED 37,244,0 08 37,221,93 9 37,040,74 8 37,231,83 9 37,042,89 5
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Page 10 of 21 LINKBANCORP, Inc. and Subsidiaries Financial Highlights (Unaudited) For the Three Months Ended For the Six Months Ended (Dollars In Thousands, except per share data) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Operating Highlights Net Income $ 7,387 $ 15,343 $ 5,804 $ 22,730 $ 11,530 Net Interest Income 24,949 25,831 24,484 50,780 49,368 Provision for Credit Losses 344 228 — 572 40 Non-Interest Income 2,933 13,257 1,858 16,190 3,587 Non-Interest Expense 18,065 19,658 18,900 37,723 38,150 Earnings per Share, Basic 0.20 0.41 0.16 0.61 0.31 Adjusted Earnings per Share, Basic 0.20 0.20 0.17 0.40 0.33 Earnings per Share, Diluted 0.20 0.41 0.16 0.61 0.31 Adjusted Earnings per Share, Diluted 0.20 0.20 0.17 0.40 0.33 Selected Operating Ratios Net Interest Margin 3.80% 3.94% 3.83% 3.87% 3.92% Annualized Return on Assets ("ROA") 1.05% 2.19% 0.84% 1.62% 0.85% Adjusted ROA 1.05% 1.05% 0.91% 1.05% 0.89% Annualized Return on Equity ("ROE") 10.04% 21.90% 8.65% 15.83% 8.63% Adjusted ROE 10.06% 10.56% 9.39% 10.31% 9.04% Efficiency Ratio 64.79% 50.29% 71.75% 56.33% 72.04% Adjusted Efficiency Ratio 64.73% 66.96% 69.36% 65.85% 70.75% Noninterest Income to Avg. Assets 0.42% 1.89% 0.27% 1.15% 0.26% Noninterest Expense to Avg. Assets 2.57% 2.80% 2.73% 2.68% 2.80% 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 Financial Condition Data Total Assets $ 2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,941 $ 2,858,593 Loans Receivable, Net 2,331,958 2,247,322 2,229,314 2,189,326 2,166,909 Noninterest-bearing Deposits 646,654 646,002 658,646 658,473 661,292 Interest-bearing Deposits 1,809,755 1,787,692 1,701,936 1,714,179 1,699,220 Total Deposits $ 2,456,409 $ 2,433,694 $ 2,360,582 $ 2,372,652 $ 2,360,512 Selected Balance Sheet Ratios Total Capital Ratio 12.43% 12.61% 11.55% 11.44% 11.09% Tier 1 Capital Ratio 11.51% 11.71% 10.74% 10.62% 10.30% Common Equity Tier 1 Capital Ratio 11.51% 11.71% 10.74% 10.62% 10.30% Leverage Ratio 10.34% 10.02% 9.49% 9.41% 9.17% Tangible Common Equity to Tangible Assets 7.89% 7.78% 7.16% 7.02% 6.82% Tangible Book Value per Share $ 5.92 $ 5.80 $ 5.36 $ 5.26 $ 5.07 Asset Quality Data Non-performing Assets $ 21,877 $ 26,041 $ 17,173 $ 17,378 $ 10,589 Non-performing Assets to Total Assets 0.76% 0.91% 0.60% 0.60% 0.37% Non-performing Loans to Total Loans 0.93% 1.15% 0.76% 0.78% 0.48% Allowance for Credit Losses - Loans ("ACLL")$ 24,651 $ 26,619 $ 26,435 $ 26,542 $ 26,288 ACLL to Total Loans 1.05% 1.17% 1.17% 1.20% 1.20% ACLL to Nonperforming Assets 112.68% 102.22% 153.93% 152.73% 248.26% Net chargeoffs (recoveries) $ 40 $ 81 $ 252 $ (28) $ (20) (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. (2) (2) 2 2 3 1 1 1 1 4 5 (6)
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Page 11 of 21 (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 three months ended June 30, 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.
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Page 12 of 21 LINKBANCORP, Inc. and Subsidiaries Net Interest Margin - Quarter-To-Date (Unaudited) For the Three Months Ended June 30, 2025 2024 (Dollars in thousands) Avg Bal Interest Yield/Rate Avg Bal Interest Yield/Rate Int. Earn. Cash $ 114,315 $ 1,097 3.85% $ 121,340 $ 1,395 4.62% Securities Taxable 152,185 1,819 4.79% 125,885 1,592 5.09% Tax-Exempt 42,688 478 4.50% 41,776 443 4.26% Total Securities 194,873 2,297 4.73% 167,661 2,035 4.88% Total Cash Equiv. and Investments 309,188 3,394 4.40% 289,001 3,430 4.77% Total Loans 2,324,897 36,032 6.22% 2,280,041 36,112 6.37% Total Earning Assets 2,634,085 39,426 6.00% 2,569,042 39,542 6.19% Other Assets 183,203 212,097 Total Assets $ 2,817,288 $ 2,781,139 Interest bearing demand $ 547,177 3,207 2.35% $ 446,109 2,457 2.22% Money market demand 553,294 3,099 2.25% 581,223 3,271 2.26% Time deposits 609,322 6,161 4.06% 642,919 7,343 4.59% Total Borrowings 152,668 1,910 5.02% 151,596 1,894 5.02% Total Interest-Bearing Liabilities 1,862,461 14,377 3.10% 1,821,847 14,965 3.30% Non Interest-Bearing Deposits 628,962 657,939 Total Cost of Funds 2,491,423 14,377 2.31% 2,479,786 14,965 2.43% Other Liabilities 30,826 31,519 Total Liabilities 2,522,249 2,511,305 Shareholders' Equity 295,039 269,834 Total Liabilities & Shareholders' Equity $ 2,817,288 $ 2,781,139 Net Interest Income/Spread (FTE) 25,049 2.90% 24,577 2.89% Tax-Equivalent Basis Adjustment (100) (93) Net Interest Income $ 24,949 $ 24,484 Net Interest Margin 3.80% 3.83% Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks. Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table Includes the balances of nonaccrual loans (2) (2) (1) (3) (1) (2) (3)
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Page 13 of 21 LINKBANCORP, Inc. and Subsidiaries Net Interest Margin - Linked Quarter-To-Date (Unaudited) For the Three Months Ended June 30, 2025 March 31, 2025 (Dollars in thousands) Avg Bal Interest Yield/Rate Avg Bal Interest Yield/Rate Int. Earn. Cash $ 114,315 $ 1,097 3.85% $ 119,269 $ 972 3.31% Securities Taxable 152,185 1,819 4.79% 142,867 1,749 4.96% Tax-Exempt 42,688 478 4.50% 43,845 481 4.45% Total Securities 194,873 2,297 4.73% 186,712 2,230 4.84% Total Cash Equiv. and Investments 309,188 3,394 4.40% 305,981 3,202 4.24% Total Loans 2,324,897 36,032 6.22% 2,350,03 1 37,041 6.39% Total Earning Assets 2,634,085 39,426 6.00% 2,656,01 2 40,243 6.14% Other Assets 183,203 191,469 Total Assets $ 2,817,288 $ 2,847,48 1 Interest bearing demand $ 547,177 3,207 2.35% $ 545,475 3,048 2.27% Money market demand 553,294 3,099 2.25% 555,663 2,937 2.14% Time deposits 609,322 6,161 4.06% 632,649 6,372 4.08% Total Borrowings 152,668 1,910 5.02% 149,922 1,954 5.29% Total Interest-Bearing Liabilities 1,862,461 14,377 3.10% 1,883,70 9 14,311 3.08% Non Interest-Bearing Deposits 628,962 649,440 Total Cost of Funds 2,491,423 14,377 2.31% 2,533,14 9 14,311 2.29% Other Liabilities 30,826 30,229 Total Liabilities 2,522,249 2,563,37 8 Shareholders' Equity 295,039 284,103 Total Liabilities & Shareholders' Equity $ 2,817,288 $ 2,847,48 1 Net Interest Income/Spread (FTE) 25,049 2.90% 25,932 3.06% Tax-Equivalent Basis Adjustment (100) (101) Net Interest Income $ 24,949 $ 25,831 Net Interest Margin 3.80% 3.94% Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks. Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table Includes the balances of nonaccrual loans (2) (2) (1) (3) (1) (2) (3)
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Page 14 of 21 LINKBANCORP, Inc. and Subsidiaries Net Interest Margin - Year-To-Date (Unaudited) For the Six Months Ended June 30, 2025 2024 (Dollars in thousands) Avg Bal Interest Yield/Rate Avg Bal Interest Yield/Rate Int. Earn. Cash $ 113,957 $ 2,069 3.66% $ 102,471 $ 2,293 4.50% Securities Taxable 147,952 3,568 4.86% 121,333 2,983 4.94% Tax-Exempt 43,240 959 4.47% 42,344 900 4.27% Total Securities 191,192 4,527 4.78% 163,677 3,883 4.77% Total Cash Equiv. and Investments 305,149 6,596 4.36% 266,148 6,176 4.67% Total Loans 2,340,413 73,073 6.30% 2,263,595 72,237 6.42% Total Earning Assets 2,645,562 79,669 6.07% 2,529,743 78,413 6.23% Other Assets 191,799 211,138 Total Assets $ 2,837,361 $ 2,740,881 Interest bearing demand $ 546,906 $ 6,255 2.31% $ 437,011 $ 4,400 2.02% Money market demand 557,551 6,036 2.18% 584,121 6,445 2.22% Time deposits 621,040 12,533 4.07% 628,616 14,073 4.50% Total Borrowings 151,269 3,864 5.15% 144,509 3,938 5.48% Total Interest-Bearing Liabilities 1,876,766 28,688 3.08% 1,794,257 28,856 3.23% Non Interest-Bearing Deposits 640,730 646,728 Total Cost of Funds $ 2,517,496 $ 28,688 2.30% $ 2,440,985 $ 28,856 2.38% Other Liabilities 30,368 31,360 Total Liabilities $ 2,547,864 $ 2,472,345 Shareholders' Equity $ 289,497 $ 268,536 Total Liabilities & Shareholders' Equity $ 2,837,361 $ 2,740,881 Net Interest Income/Spread (FTE) 50,981 2.99% 49,557 3.00% Tax-Equivalent Basis Adjustment (201) (189) Net Interest Income $ 50,780 $ 49,368 Net Interest Margin 3.87% 3.92% Taxable income on securities includes income from available for sale securities and income from certificates of deposits with other banks. Income stated on a tax equivalent basis which is a non-GAAP measure and reconciled to GAAP at the bottom of the table Includes the balances of nonaccrual loans (2) (2) (1) (3) (1) (2) (3)
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Page 15 of 21 LINKBANCORP, Inc. and Subsidiaries Loans Receivable Detail (Unaudited) (In Thousands) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Agriculture and farmland loans $ 61,996 $ 66,684 $ 67,741 $ 65,166 $ 66,937 Construction loans 140,976 136,421 158,296 175,373 201,174 Commercial & industrial loans 259,877 257,302 252,163 241,597 247,190 Commercial real estate loans Multifamily 231,469 215,916 217,331 212,444 199,740 Owner occupied 502,515 472,895 493,906 500,643 492,065 Non-owner occupied 681,521 645,793 658,615 626,030 610,649 Residential real estate loans First liens 375,879 378,420 399,476 400,869 400,098 Second liens and lines of credit 81,194 79,905 78,410 73,591 71,168 Consumer and other loans 17,525 17,097 17,087 17,498 15,514 Municipal loans 2,917 3,012 3,886 4,296 4,362 2,355,869 2,273,445 2,346,911 2,317,507 2,308,897 Deferred costs 740 496 645 634 478 Total loans receivable 2,356,609 2,273,941 2,347,556 2,318,141 2,309,375 Less: Loans held for sale — — 91,807 102,273 116,178 Loans Held for Investment $ 2,356,609 $ 2,273,941 $ 2,255,749 $ 2,215,868 $ 2,193,197 LINKBANCORP, Inc. and Subsidiaries Loan Growth Calculation Excluding Branch Sale (Unaudited) (In Thousands) June 30, 2025 Total Loans at June 30, 2025 $ 2,356,609 Total Loans at December 31, 2024 2,347,556 Year-to-date Change 9,053 Net Book Value of Loans Sold 97,952 Loan Growth Excluding Branch Sale 107,005 Annualized Growth Rate 9.19%
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Page 16 of 21 LINKBANCORP, Inc. and Subsidiaries Investments in Securities Detail (Unaudited) June 30, 2025 (In Thousands) AmortizedCost NetUnrealized Gains(Losses) FairValue Available for Sale: US Government Agency securities $ 13,177 $ 168 $ 13,345 Obligations of state and political subdivisions 50,758 (4,438) 46,320 Mortgage-backed securities in government-sponsored entities 111,564 (2,010) 109,554 Other securities 357 (7) 350 $ 175,856 $ (6,287) $ 169,569 AmortizedCost Net Unrealized Losses Fair Value Allowance for Credit Losses Held to Maturity: Corporate debentures $ 12,250 $ (728) $ 11,522 $ (475) Structured mortgage-backed securities 15,034 (452) 14,582 — $ 27,284 $ (1,180) $ 26,104 $ (475) December 31, 2024 (In Thousands) AmortizedCost NetUnrealized Gains (Losses) FairValue 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 AmortizedCost 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)
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Page 17 of 21 LINKBANCORP, Inc. and Subsidiaries Deposits Detail (Unaudited) (In Thousands) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Demand, noninterest-bearing $ 646,654 $ 646,002 $ 686,510 $ 687,536 $ 692,095 Demand, interest-bearing 576,050 577,170 537,546 547,099 488,043 Money market and savings 580,143 553,240 553,807 585,395 582,561 Time deposits, $250 and over 177,897 166,441 167,165 169,616 156,621 Time deposits, other 400,665 387,226 405,493 401,976 393,603 Brokered deposits 75,000 103,615 103,615 75,000 144,429 2,456,409 2,433,694 2,454,136 2,466,622 2,457,352 Less: Deposits held for sale — — 93,554 93,970 96,840 Total deposits $ 2,456,409 $ 2,433,694 $ 2,360,582 $ 2,372,652 $ 2,360,512 Average Deposits Detail, for the Three Months Ended (Unaudited) (In Thousands) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Demand, noninterest-bearing $ 628,962 $ 649,440 $ 665,276 $ 659,825 $ 657,939 Demand, interest-bearing 547,177 545,475 537,856 497,100 446,109 Money market and savings 553,294 555,663 567,593 580,766 581,223 Time deposits 575,205 576,366 568,615 560,815 547,582 Brokered deposits 34,117 56,283 38,616 52,587 95,337 Total deposits $ 2,338,755 $ 2,383,227 $ 2,377,956 $ 2,351,093 $ 2,328,190 Balances in table above include deposits held for sale LINKBANCORP, Inc. and Subsidiaries Deposit Growth Calculation Excluding Branch Sale (Unaudited) (In Thousands) June 30, 2025 Total Deposits at June 30, 2025 $ 2,456,409 Total Deposits at December 31, 2024 2,454,136 Year-to-date Change 2,273 Net Book Value of Deposits Sold 87,086 Quarterly Deposit Growth Excluding Branch Sale 89,359 Annualized Growth Rate 7.34%
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Page 18 of 21 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.
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Page 19 of 21 Adjusted Return on Average Assets For the Three Months Ended For the Six Months Ended (Dollars in thousands) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Net income $ 7,387 $ 15,343 $ 5,804 $ 22,730 $ 11,530 Average assets 2,817,288 2,847,481 2,781,139 2,837,361 2,740,881 Return on average assets (annualized) 1.05% 2.19% 0.84% 1.62% 0.85% Net income $ 7,387 $ 15,343 $ 5,804 22,730 11,530 Gain on sale of branches — (11,093) — (11,093) — Tax effect — 2,440 — 2,440 — Transaction bonus accrual — 490 — 490 — Tax effect — (108) — (108) — Board restructuring accrual — 381 — 381 — Tax effect — (84) — (84) — Net losses on sale of securities — — (4) — (4) Tax effect — — 1 — 1 Merger & restructuring expenses 16 41 631 57 687 Tax effect (4) (9) (133) (13) (144) Adjusted Net Income (Non-GAAP) $ 7,399 $ 7,401 $ 6,299 $ 14,800 12,070 Average assets $2,817,288 $ 2,847,481 $ 2,781,139 $ 2,837,361 2,740,881 Adjusted return on average assets (annualized) (Non-GAAP) 1.05% 1.05% 0.91% 1.05% 0.89% (1) Tax effect was 22% for the three months ended June 30, 2025 and March 31, 2025, and six months ended June 30, 2025, and 21% for all other periods Adjusted Return on Average Shareholders' Equity For the Three Months Ended For the Six Months Ended (Dollars in thousands) 6/30/202 5 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Net income $ 7,387 $ 15,343 $ 5,804 $ 22,730 $ 11,530 Average shareholders' equity 295,039 284,103 269,834 289,497 268,536 Return on average shareholders' equity (annualized) 10.04% 21.90% 8.65% 15.83% 8.63% Net income $ 7,387 $ 15,343 $ 5,804 $ 22,730 $ 11,530 Gain on sale of branches — (11,093) — (11,093) — Tax effect — 2,440 — 2,440 — Transaction bonus accrual — 490 — 490 — Tax effect — (108) — (108) — Board restructuring accrual — 381 — 381 — Tax effect — (84) — (84) — Merger & restructuring expenses 16 41 631 57 687 Tax effect (4) (9) (133) (13) (144) Net (gains) losses on sale of securities — — (4) — (4) Tax effect — — 1 — 1 Adjusted Net Income (Non-GAAP) $ 7,399 $ 7,401 $ 6,299 $ 14,800 $ 12,070 Average shareholders' equity $295,039 $ 284,103 $ 269,834 $ 289,497 $ 268,536 Adjusted return on average shareholders' equity (annualized) (Non-GAAP) 10.06% 10.56% 9.39% 10.31% 9.04% (1) Tax effect was 22% for the three months ended June 30, 2025 and March 31, 2025, and six months ended June 30, 2025, and 21% for all other periods (1) (1) (1) (1) (1) (1) (1) (1) (1) (1)
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Page 20 of 21 Adjusted Earnings Per Share For the Three Months Ended For the Six Months Ended (Dollars in thousands, except per share data) 6/30/202 5 3/31/2025 6/30/2024 6/30/2025 6/30/2024 GAAP-Based Earnings Per Share, Basic $ 0.20 $ 0.41 $ 0.16 $ 0.61 $ 0.31 GAAP-Based Earnings Per Share, Diluted $ 0.20 $ 0.41 $ 0.16 $ 0.61 $ 0.31 Net Income $ 7,387 $ 15,343 $ 5,804 $ 22,730 $ 11,530 Gain on sale of branches — (11,093) — (11,093) — Tax effect — 2,440 — 2,440 — Transaction bonus accrual — 490 — 490 — Tax effect — (108) — (108) — Board restructuring accrual — 381 — 381 — Tax effect — (84) — (84) — Merger & restructuring expenses 16 41 631 57 687 Tax effect (4) (9) (133) (13) (144) Net (gains) losses on sale of securities — — (4) — (4) Tax effect — — 1 — 1 Adjusted Net Income (Non-GAAP) $ 7,399 $ 7,401 $ 6,299 $ 14,800 $ 12,070 Adjusted Earnings per Share, Basic (Non-GAAP) $ 0.20 $ 0.20 $ 0.17 $ 0.40 $ 0.33 Adjusted Earnings per Share, Diluted (Non-GAAP) $ 0.20 $ 0.20 $ 0.17 $ 0.40 $ 0.33 (1) Tax effect was 22% for the three months ended June 30, 2025 and March 31, 2025, and six months ended June 30, 2025, and 21% for all other periods Adjusted Efficiency Ratio For the Three Months Ended For the Six Months Ended (Dollars in thousands) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 GAAP-based efficiency ratio 64.79% 50.29% 71.75% 56.33% 72.04% Net interest income $ 24,949 $ 25,831 $ 24,484 $ 50,780 $ 49,368 Noninterest income 2,933 13,257 1,858 16,190 3,587 Less: Gain on sale of branches — (11,093) — (11,093) — Less: net gains (losses) on sale of securities — — (4) — (4) Adjusted revenue (Non-GAAP) 27,882 27,995 26,338 55,877 52,951 Total noninterest expense 18,065 19,658 18,900 37,723 38,150 Less: Merger & restructuring expenses 16 41 631 57 687 Less: Transaction bonus accrual — 490 — 490 — Less: Board restructuring accrual — 381 — 381 — Adjusted non-interest expense $ 18,049 $ 18,746 $ 18,269 $ 36,795 $ 37,463 Efficiency ratio, as adjusted (Non-GAAP) 64.73% 66.96% 69.36% 65.85% 70.75% (1) (1) (1) (1) (1)
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Page 21 of 21 Tangible Common Equity and Tangible Book Value (Dollars in thousands, except per share data) 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 Tangible Common Equity Total shareholders’ equity $ 297,998 $ 294,066 $ 280,221 $ 277,353 $ 271,409 Adjustments: Goodwill (58,806) (58,806) (58,806) (58,806) (58,806) Other intangible assets (17,490) (18,573) (20,955) (22,118) (23,323) Tangible common equity (Non-GAAP) $ 221,702 $ 216,687 $ 200,460 $ 196,429 $ 189,280 Common shares outstanding 37,441,879 37,377,342 37,370,917 37,361,560 37,356,278 Book value per common share $ 7.96 $ 7.87 $ 7.50 $ 7.42 $ 7.27 Tangible book value per common share (Non-GAAP) $ 5.92 $ 5.80 $ 5.36 $ 5.26 $ 5.07 Tangible Assets Total assets $ 2,886,554 $ 2,861,489 $ 2,878,778 $ 2,879,941 $ 2,858,593 Adjustments: Goodwill (58,806) (58,806) (58,806) (58,806) (58,806) Other intangible assets (17,490) (18,573) (20,955) (22,118) (23,323) Tangible assets (Non-GAAP) $ 2,810,258 $ 2,784,110 $ 2,799,017 $ 2,799,017 $ 2,776,464 Tangible common equity to tangible assets (Non-GAAP) 7.89% 7.78% 7.16% 7.02% 6.82% Adjusted Pre-tax, Pre-provision Net Income (Non-GAAP) For the Three Months Ended For the Six Months Ended (Dollars in thousands, except per share data) 6/30/202 5 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Net Income (GAAP) $ 7,387 $ 15,343 $ 5,804 $ 22,730 $ 11,530 Gain on sale of branches — (11,093) — (11,093) — Tax effect — 2,440 — 2,440 — Transaction bonus accrual — 490 — 490 — Tax effect — (108) — (108) — Board restructuring accrual — 381 — 381 — Tax effect — (84) — (84) — Net (gains) losses on sale of securities — — (4) — (4) Tax effect — — 1 — 1 Merger & restructuring expenses 16 41 631 57 687 Tax effect (4) (9) (133) (13) (144) Adjusted Net Income (Non-GAAP) 7,399 7,401 6,299 14,800 12,070 Income tax expense 2,086 3,859 1,638 5,945 3,235 Provision for credit losses 344 228 — 572 40 Tax effect included in Adjusted Net Income 4 (2,239) 132 (2,235) 143 Adjusted Pre-tax, Pre-provision Net Income (Non- GAAP) $ 9,833 $ 9,249 $ 8,069 $ 19,082 $ 15,488 (1) Tax effect was 22% for the three months ended June 30, 2025 and March 31, 2025, and six months ended June 30, 2025, and 21% for all other periods (1) (1) (1) (1) (1)