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Company Description

Contact Info

250 Oak Ridge Road

Oak Ridge, NJ 07438

United States

Phone: 973-697-2000


Lakeland Bancorp, Inc. operates as the bank holding company for Lakeland Bank that provides a suite of financial products and services for businesses and consumers. The company operates 53 banking offices, located in Bergen, Essex, Morris, Passaic, Somerset, Sussex, Union and Warren counties in New Jersey; 5 New Jersey regional commercial lending centers in Bernardsville, Montville, Newton, Teaneck and Wyckoff/Waldwick; and 2 commercial loan production offices serving Middlesex and Monmouth counties in New Jersey and the Hudson Valley region of New York. Commercial Bank Services 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. In the lending area, these services include short and medium term loans, lines of credit, letters of credit, 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. These types of loans could diversify the company’s exposure in a depressed real estate market. The company’s equipment financing division provides a solution to small and medium sized companies who prefer to lease 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 also offers a range of consumer banking services, including checking accounts, savings accounts, NOW accounts, money market accounts, certificates of deposit, Internet banking, secured and unsecured loans, consumer installment loans, mortgage loans, and safe deposit services. The company expands its mortgage division by acquiring a mortgage company subsidiary, which originates and sells residential mortgage loans, and a 50% interest in a title company. Other Services Investment and advisory services for individuals and businesses are also available. Investment Securities As of December 31, 2015, the company’s investment securities included U.S. treasury and U.S. government agencies; mortgage-backed securities, residential; mortgage-backed securities, multifamily; obligations of states and political subdivisions; 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; 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 federal Bank Holding Company Act of 1956, as amended. 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 regulations of the state of New Jersey and FDIC govern most aspects of the bank’s business, including reserves against deposits, loans, investments, mergers and acquisitions, borrowings, dividends, and location of branch offices. The bank received an ‘outstanding’ Community Reinvestment Act rating in its examination. The common stock of the company is registered with the Securities and Exchange Commission under the Exchange Act. The bank’s deposits 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.


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Valuation LBAI Industry Range
Price/Earnings 15.9x
Price/Sales 3.9x
Price/Book 1.2x
Price/Cash Flow 17.7x
TEV/Sales 0.1x

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