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Last $12.08 USD
Change Today +0.08 / 0.67%
Volume 61.0K
LBAI On Other Exchanges
As of 8:10 PM 07/7/15 All times are local (Market data is delayed by at least 15 minutes).

lakeland bancorp inc (LBAI) Snapshot

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06/23/15 - $12.29
52 Week Low
10/1/14 - $9.67
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Current Stock Chart for LAKELAND BANCORP INC (LBAI)

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lakeland bancorp inc (LBAI) Details

Lakeland Bancorp, Inc. operates as the bank holding company for Lakeland Bank that provides banking services for individuals, professionals, and small to medium sized businesses in northern and central New Jersey. The company accepts various deposit products, including checking accounts, savings accounts, time accounts, NOW accounts, money market accounts, demand deposits, and certificates of deposits, as well as offers safe deposit services. It also offers loans comprising short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, merchant credit card services, commercial and industrial loans, secured and unsecured loans, consumer installment loans, home equity loans and lines, and automobile loans. In addition, the company provides wire transfer, Internet banking, mobile banking, night depository, cash management, wealth management, and investment and advisory services. Further, it offers equipment leasing services; and securities brokerage services, including mutual funds and variable annuities. As of April 23, 2015, the company operated a network of 51 offices and 2 loan production offices located in Bergen, Essex, Middlesex, Morris, Passaic, Somerset, Sussex, Union and Warren counties, as well as a loan production office located in the Hudson Valley area of New York State. Lakeland Bancorp, Inc. was founded in 1969 and is headquartered in Oak Ridge, New Jersey.

566 Employees
Last Reported Date: 03/16/15
Founded in 1969

lakeland bancorp inc (LBAI) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $630.0K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $293.5K
Chief Operating Officer, Senior Executive Vic...
Total Annual Compensation: $350.2K
Regional President of Lakeland Bank
Total Annual Compensation: $328.1K
Chief Retail Officer, Executive Vice Presiden...
Total Annual Compensation: $258.7K
Compensation as of Fiscal Year 2014.

lakeland bancorp inc (LBAI) Key Developments

Lakeland Bancorp Inc. Declares Quarterly Cash Dividend, Payable on May 15, 2015; Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Impairment Charges for the First Quarter of 2015

On April 20, 2015, Lakeland Bancorp Inc. declared a quarterly cash dividend of $0.085 per common share, payable on May 15, 2015 to holders of record as of the close of business on May 4, 2015. This dividend represents a 13% increase over the first quarter 2015 dividend of $0.075 per common share. The company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, total interest income was $30,992,000 against $29,930,000 a year ago. Net interest income was $28,518,000 against $27,845,000 a year ago. The decrease was primarily due to a decrease in the yield on interest-earning assets. Income before provision for income taxes was $12,344,000 against $10,687,000 a year ago. Net income was $8,330,000 against $7,163,000 a year ago. Basic and diluted earnings per common share were $0.22 against $0.19 a year ago. Annualized return on average assets was 0.96% against 0.88% a year ago. Annualized return on average common equity was 8.81% against 8.14% a year ago. Tangible book value per common share was $7.29 against $6.52 a year ago. Tangible book value per share - Non-GAAP was $7.29 against $6.52 a year ago. Return on average tangible common stockholders' equity - Non-GAAP was 12.43% against 11.88% a year ago. In the first quarter of 2015, the company had net charge-offs totaling $1.0 million compared to $1.8 million in the first quarter of 2014.

Lakeland Bancorp Seeks Acquisitions

Lakeland Bancorp Inc. (NasdaqGS:LBAI) has filed a shelf registration in the amount of $150 million. Lakeland Bancorp said, "We expect to use the net proceeds from any offering of securities by us for general corporate purposes, which may include acquisitions, capital expenditures, investments, and the repayment, redemption or refinancing of all or a portion of any indebtedness or other securities outstanding at a particular time. Pending the application of the net proceeds, we expect to invest the proceeds in short-term, interest-bearing instruments or other investment-grade securities."

Lakeland Bancorp Inc., Annual General Meeting, May 20, 2015

Lakeland Bancorp Inc., Annual General Meeting, May 20, 2015., at 17:00 US Eastern Standard Time. Location: Knoll Country Club West. Agenda: To elect four directors for three year terms; to ratify the appointment of KPMG LLP as the company's independent registered public accounting firm for 2015; to approve, on an advisory basis, the executive compensation of the company's named executive officers as described in this proxy statement; and to transact such other business as may properly come before the meeting and/or any adjournment or adjournments thereof.


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Valuation LBAI Industry Range
Price/Earnings 14.2x
Price/Sales 3.6x
Price/Book 1.2x
Price/Cash Flow 14.1x
TEV/Sales NM Not Meaningful

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