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Home Business News LINKBANCORP, Inc. Announces Completion of $20 Million Subordinated Notes Offering

LINKBANCORP, Inc. Announces Completion of $20 Million Subordinated Notes Offering

HARRISBURG, Pa.–()–LINKBANCORP, Inc. (OTC Pink: LNKB) (the “Company”), the parent company for LINKBANK, today announced the closing of a $20.0 million private placement of Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Company intends to use the proceeds to support continued growth opportunities.

The Notes have a maturity date of October 1, 2030 and will initially bear interest at a fixed rate of 5.0% until October 1, 2025. From October 1, 2025 to the stated maturity date or early redemption date, the interest rate will reset semi-annually to an annual floating rate equal to the then-current three-month term Secured Overnight Financing Rate (SOFR) plus a spread of 475 basis…

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