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Strategic Value, Parmer group to each acquire more than 5% of LinkBancorp

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Strategic Value, Parmer group to each acquire more than 5% of LinkBancorp

Institutional investor Strategic Value Private Investors LP and an investor group led by George Parmer are each proposing to acquire more than 5% of the common stock of Camp Hill, Pa.-based LinkBancorp Inc., according to the Pennsylvania Department of Banking and Securities' summary of activities.

As previously reported in June, LinkBancorp seeks to form a bank holding company by acquiring West Chester, Pa.-based Stonebridge Bank for more than $1.1 million.

Aside from George Parmer, the investor group includes Barbara Parmer, The Parmer Family Partnership LP, Parmer 2016 Family Continuity Trust, and Parmer 2016 Descendants Trust. The investor group filed their application on June 26, while Strategic Value filed its application on June 27.

The Stonebridge Bank's parent company, Stonebridge Financial Corp., filed for bankruptcy protection in June 2015.