Lakeland Bancorp, Inc. (OQ:LBAI)

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
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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

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