Sector: Financials | Industry: Banks |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 250 OAK RIDGE RD OAK RIDGE NJ 07438 |
Tel: | N/A |
Website: | https://investorrelations.lakelandbank.com |
IR: | See website |
Key People | ||
Thomas J. Shara President, Chief Executive Officer, Director | Thomas F. Splaine Executive Vice President, Chief Financial Officer of the Company and the Bank | Ronald E. Schwarz Chief Operating Officer, Senior Executive Vice President of the Company and the Bank |
Timothy J. Matteson Executive Vice President, Chief Administrative Officer, General Counsel, Corporate Secretary | Paul Ho Sing Loy Executive Vice President, Chief Information Officer | James M. Nigro Executive Vice President, Chief Risk Officer |
Ellen Lalwani Executive Vice President, Chief Banking Officer of the Company and the Bank | John F. Rath Executive Vice President, Chief Lending Officer of the Company and the Bank |
Business Overview |
Lakeland Bancorp, Inc. is a bank holding company for Lakeland Bank (the Bank). The Bank offers a suite of financial products and services for businesses and consumers. The Company offers a range of lending, depository, and related financial services to individuals and small to medium sized businesses located primarily in northern and central New Jersey, the Hudson Valley region in New York and surrounding areas. The Bank provides services in three categories: commercial bank services, consumer banking and other services. The Bank offers a range of lending services include commercial real estate loans, commercial and industrial loans, short- and medium-term loans, letters of credit, and others. Its consumer banking services include checking accounts, savings accounts, money market accounts, certificates of deposit, online banking and other. In addition, the Bank provides commercial title insurance services and life insurance products. The Bank operates approximately 68 branch offices. |
Financial Overview |
For the three months ended 31 March 2024, Lakeland Bancorp, Inc. interest income increased 13% to $128.9M. Net interest income after loan loss provision decreased 4% to $65.3M. Net income applicable to common stockholders remained flat at $19.6M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 20% to 2.46%, Net Interest Spread, Total -% decrease of 35% to 1.6%. |
Employees: | 871 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $1,453M as of Mar 31, 2024 |
Annual revenue (TTM): | $505.49M as of Mar 31, 2024 |
EBITDA (TTM): | $135.57M as of Mar 31, 2024 |
Net annual income (TTM): | $83.88M as of Mar 31, 2024 |
Free cash flow (TTM): | $61.48M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $594.58M as of Mar 31, 2024 |
Shares outstanding: | 65,154,526 as of Apr 19, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |