Lakeland Bancorp, Inc. operates as the holding company for Lakeland Bank that provides various banking services. The company offers a range of lending services, including commercial loans and leases, real estate, and consumer loans to small and medium-sized businesses, professionals, and individuals located in its markets. The company operates 52 banking offices, located in Bergen, Essex, Morris, Passaic, Somerset, Sussex, Union, and Warren counties in New Jersey. Commercial Bank Services The company offers a range of lending, depository, and related financial services to individuals, small to medium sized businesses, and municipalities located primarily in northern and central New Jersey. In the lending area, these services include short and medium term loans, lines of credit, letters of credit, interest rate swaps, inventory and accounts receivable financing, real estate construction loans, mortgage loans, and merchant credit card services. In addition to commercial real estate loans, the company makes commercial and industrial loans, which are not always secured by real estate. Its Equipment Finance division provides a solution to small and medium sized companies who prefer to finance equipment over other financial alternatives. The company’s Asset Based Loan Department provides commercial borrowers with another lending alternative. Depository products include demand deposits, as well as savings, money market, and time accounts. The company also offers wire transfer, Internet banking, mobile banking, and night depository services to the business community and municipal relationships. In addition, the company offers cash management services, such as remote capture of deposits and overnight sweep repurchase agreements. Consumer Banking The company offers a range of consumer banking services, including checking accounts, savings accounts, NOW accounts, money market accounts, certificates of deposit, Internet banking, mobile banking, secured and unsecured loans, consumer installment loans, home equity loans, mortgage loans, and safe deposit services. The company also provides wealth management services. Other Services The company offers investment and advisory services for individuals and businesses. Investment Securities As of December 31, 2013, the company’s investment securities included U.S. treasury and U.S. government agencies; mortgage-backed securities, residential; obligations of states and political subdivisions; other equity securities; and other debt securities. Supervision and Regulation The company is a registered bank holding company under the federal Bank Holding Company Act of 1956, as amended (the ‘Holding Company Act’), and is required to file with the Federal Reserve Board an annual report and such additional information as the Federal Reserve Board might require pursuant to the Holding Company Act. The company is subject to examination by the Federal Reserve Board. The bank is a state chartered banking association subject to supervision and examination by the Department of Banking and Insurance of the State of New Jersey and the Federal Deposit Insurance Corporation (the ‘FDIC’). The deposits of the bank are insured up to applicable limits by the Deposit Insurance Fund (DIF) of the FDIC and are subject to deposit insurance assessments to maintain the DIF. History Lakeland Bancorp, Inc. was founded in 1969.
lakeland bancorp inc (LBAI:NASDAQ GS)
250 Oak Ridge Road
Oak Ridge, NJ 07438
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