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Hot Stocks
Lakeland Bancorp, 1st Constitution Bancorp announce regulatory non-objection » 16:34
12/13/21
12/13
16:34
12/13/21
16:34
LBAI

Lakeland Bancorp

$17.58 /

-0.19 (-1.07%)

, FCCY

1st Constitution Bancorp

$23.70 /

+0.1 (+0.42%)

Lakeland Bancorp, Inc.…

Lakeland Bancorp, Inc. (LBAI), the parent company of Lakeland Bank, and 1st Constitution Bancorp (FCCY), the parent company of 1st Constitution Bank, announced that on December 10, 2021, the Federal Reserve Bank of New York issued a non-objection to Lakeland's request to waive the application requirement in connection with the proposed merger of 1st Constitution with and into Lakeland. The companies have now received all regulatory approvals and non-objections in connection with the proposed merger. The closing of the proposed merger remains subject to certain customary closing conditions. The merger is expected to close on January 6, 2022.

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LBAI Lakeland Bancorp
$17.58 /

-0.19 (-1.07%)

FCCY 1st Constitution Bancorp
$23.70 /

+0.1 (+0.42%)

LBAI Lakeland Bancorp
$17.58 /

-0.19 (-1.07%)

04/28/21 Raymond James
Lakeland Bancorp upgraded to Strong Buy from Outperform at Raymond James
FCCY 1st Constitution Bancorp
$23.70 /

+0.1 (+0.42%)

LBAI Lakeland Bancorp
$17.58 /

-0.19 (-1.07%)

FCCY 1st Constitution Bancorp
$23.70 /

+0.1 (+0.42%)

Hot Stocks
Lakeland, 1st Constitution announce receipt of FDIC, New Jersey approvals » 09:26
11/05/21
11/05
09:26
11/05/21
09:26
LBAI

Lakeland Bancorp

$18.53 /

-0.155 (-0.83%)

, FCCY

1st Constitution Bancorp

$25.03 /

+0.08 (+0.32%)

Lakeland Bancorp (LBAI)…

Lakeland Bancorp (LBAI) and 1st Constitution Bancorp (FCCY) announced the receipt of Federal Deposit Insurance Corporation, or FDIC, and New Jersey Department of Banking and Insurance approval in connection with the proposed merger of 1st Constitution with and into Lakeland. The closing of the proposed merger remains subject to the approval of or waiver by the Board of Governors of the Federal Reserve System, the approval of Lakeland's shareholders at the special meeting of shareholders to be held on December 3, 2021, the approval of 1st Constitution's shareholders at the special meeting of shareholders to be held on December 3, 2021, and certain other customary closing conditions.

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LBAI Lakeland Bancorp
$18.53 /

-0.155 (-0.83%)

FCCY 1st Constitution Bancorp
$25.03 /

+0.08 (+0.32%)

LBAI Lakeland Bancorp
$18.53 /

-0.155 (-0.83%)

04/28/21 Raymond James
Lakeland Bancorp upgraded to Strong Buy from Outperform at Raymond James
FCCY 1st Constitution Bancorp
$25.03 /

+0.08 (+0.32%)

LBAI Lakeland Bancorp
$18.53 /

-0.155 (-0.83%)

FCCY 1st Constitution Bancorp
$25.03 /

+0.08 (+0.32%)

Earnings
Lakeland Bancorp reports Q3 EPS 43c, consensus 44c » 08:08
10/26/21
10/26
08:08
10/26/21
08:08
LBAI

Lakeland Bancorp

$18.38 /

+0.22 (+1.21%)

At September 30, 2021,…

At September 30, 2021, stockholders' equity was $814.1M compared to $763.8M at December 31, 2020, a 7% increase. Lakeland Bank remains above FDIC "well capitalized" standards, with a Tier 1 leverage ratio of 8.60% at September 30, 2021. The book value per common share and tangible book value per common share increased 8% and 10% to $16.09 and $12.95, respectively, compared to $14.93 and $11.77 at September 30, 2020. Thomas Shara, Lakeland Bancorp's President and CEO commented on the financial results, "We are pleased with our results for the quarter marked by strong core earnings and continued improvement in asset quality. Our subordinated debt offering during the quarter was very successful, affording us the opportunity to increase the offering size to $150 million with an interest rate of 2.875% fixed for 5 years. We believe the overwhelming success of the offering further illustrates the strength of the Lakeland brand in the market."

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LBAI Lakeland Bancorp
$18.38 /

+0.22 (+1.21%)

LBAI Lakeland Bancorp
$18.38 /

+0.22 (+1.21%)

04/28/21 Raymond James
Lakeland Bancorp upgraded to Strong Buy from Outperform at Raymond James
LBAI Lakeland Bancorp
$18.38 /

+0.22 (+1.21%)

Over a quarter ago
Earnings
Lakeland Bancorp reports Q2 EPS 53c, consensus 43c » 08:09
07/22/21
07/22
08:09
07/22/21
08:09
LBAI

Lakeland Bancorp

$15.93 /

+0.07 (+0.44%)

At June 30, 2021,…

At June 30, 2021, stockholders' equity was $796.7M compared to $763.8M at December 31, 2020, a 4% increase. Lakeland Bank remains above FDIC "well capitalized" standards, with a Tier 1 leverage ratio of 8.70% at June 30, 2021. The book value per common share and tangible book value per common share increased 7% and 9% to $15.74 and $12.60, respectively, compared to $14.77 and $11.60 at June 30, 2020. Thomas Shara, Lakeland Bancorp's President and CEO commented, "We are pleased with the company's record earnings for the quarter and our continued improvement in asset quality with non-performing assets to total assets dropping to 29 basis points. Notwithstanding the negative provision for credit losses for the quarter, Lakeland continues to effectively navigate the current economic environment with increased net interest margin, prudent expense management and excellent credit metrics."

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LBAI Lakeland Bancorp
$15.93 /

+0.07 (+0.44%)

LBAI Lakeland Bancorp
$15.93 /

+0.07 (+0.44%)

04/28/21 Raymond James
Lakeland Bancorp upgraded to Strong Buy from Outperform at Raymond James
LBAI Lakeland Bancorp
$15.93 /

+0.07 (+0.44%)

LBAI Lakeland Bancorp
$15.93 /

+0.07 (+0.44%)

Hot Stocks
Lakeland Bancorp to acquire 1st Constitution Bancorp » 08:03
07/12/21
07/12
08:03
07/12/21
08:03
LBAI

Lakeland Bancorp

$17.32 /

+0.54 (+3.22%)

, FCCY

1st Constitution Bancorp

$20.59 /

+0.11 (+0.54%)

The Boards of Directors…

The Boards of Directors of Lakeland Bancorp (LBAI), the parent company of Lakeland Bank, and 1st Constitution Bancorp (FCCY), the parent company of 1st Constitution Bank, announced today that they have entered into a definitive Agreement and Plan of Merger, under which Lakeland will acquire 1st Constitution. The combined organization will have approximately $9.6 billion in assets and will rank as the 5th largest bank headquartered in New Jersey. The merger brings together two high-performing companies with complementary geographies and business lines. Lakeland will acquire all of the outstanding shares of 1st Constitution in exchange for common shares of Lakeland and will cash out outstanding 1st Constitution options. The exchange ratio will be fixed at 1.3577 Lakeland shares for each 1st Constitution share, resulting in an aggregate transaction value of approximately $244.4 million, or $23.53 per share, which represents a 14% premium over the closing sale price per share of 1st Constitution common stock on July 9, 2021. The Merger Agreement has been unanimously approved by the Boards of Directors of both companies. The merger is expected to close in the fourth quarter of 2021 or early first quarter 2022, subject to satisfaction of customary closing conditions, including receipt of required regulatory approvals and approval by the shareholders of Lakeland and 1st Constitution. In the transaction, 1st Constitution will merge into Lakeland, and 1st Constitution Bank will merge into Lakeland Bank, with Lakeland and Lakeland Bank being the surviving entities. Key Transaction Highlights: Continues Lakeland's opportunistic acquisition growth and positions the Company to efficiently cross the $10 billion asset threshold in the future. Provides Lakeland with entry into attractive new markets in Mercer, Middlesex and Monmouth counties and enhances our presence in Ocean and Bergen counties in New Jersey. 1st Constitution residential mortgage business enhances non-interest income. Strong cultural fit that combines two organizations with like-minded commitments to customers, communities and stockholders. Key Financial Highlights: Strong earnings accretion: Approximately 10% accretive to Lakeland's earnings per share. Achievable cost savings assumption of 44% or approximately $18 million in 2022. Reasonable tangible book value dilution: Approximately 3.9% dilutive to tangible book value per share at closing. Tangible book value earnback period projected to be approximately 3.3 years using the crossover method. Compelling economics with anticipated internal rate of return over 20%. Pro forma combined company with total assets of $9.6 billion, total loans of $7.4 billion, and deposits of $8.2 billion 1st Constitution's directors and executive officers, who beneficially own in the aggregate approximately 13.2% of 1st Constitution's outstanding shares, have signed voting agreements pursuant to which they have agreed to vote their shares in favor of the holding company merger.

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LBAI Lakeland Bancorp
$17.32 /

+0.54 (+3.22%)

FCCY 1st Constitution Bancorp
$20.59 /

+0.11 (+0.54%)

LBAI Lakeland Bancorp
$17.32 /

+0.54 (+3.22%)

04/28/21 Raymond James
Lakeland Bancorp upgraded to Strong Buy from Outperform at Raymond James
FCCY 1st Constitution Bancorp
$20.59 /

+0.11 (+0.54%)

LBAI Lakeland Bancorp
$17.32 /

+0.54 (+3.22%)

FCCY 1st Constitution Bancorp
$20.59 /

+0.11 (+0.54%)

LBAI Lakeland Bancorp
$17.32 /

+0.54 (+3.22%)

Upgrade
Lakeland Bancorp upgraded to Strong Buy from Outperform at Raymond James » 07:11
04/28/21
04/28
07:11
04/28/21
07:11
LBAI

Lakeland Bancorp

$17.41 /

+0.05 (+0.29%)

Raymond James analyst…

Raymond James analyst William Wallace upgraded Lakeland Bancorp to Strong Buy from Outperform with a price target of $23, up from $17, following Q1 results that beat on a reported basis, and were more in line on a PTPP basis. The reserves/loans ratio excluding PPP was generally stable in the 1.2% neighborhood, which Wallace views favorably, the analyst tells investors in a research note.

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LBAI Lakeland Bancorp
$17.41 /

+0.05 (+0.29%)

LBAI Lakeland Bancorp
$17.41 /

+0.05 (+0.29%)

06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
05/01/20 Piper Sandler
Lakeland Bancorp upgraded to Overweight from Neutral at Piper Sandler
LBAI Lakeland Bancorp
$17.41 /

+0.05 (+0.29%)

LBAI Lakeland Bancorp
$17.41 /

+0.05 (+0.29%)

Hot Stocks
Lakeland Bancorp board authorizes annualized 8% increase in cash dividend » 08:20
04/27/21
04/27
08:20
04/27/21
08:20
LBAI

Lakeland Bancorp

$17.36 /

-0.17 (-0.97%)

CEO Thomas Shara said,…

CEO Thomas Shara said, "The quarterly results were record earnings for Lakeland which were bolstered by an 11 basis point increase in our net interest margin and an increase in pre-tax income. Considering our continued success, the Board authorized an annualized 8% increase in our cash dividend."

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LBAI Lakeland Bancorp
$17.36 /

-0.17 (-0.97%)

06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
05/01/20 Piper Sandler
Lakeland Bancorp upgraded to Overweight from Neutral at Piper Sandler
LBAI Lakeland Bancorp
$17.36 /

-0.17 (-0.97%)

LBAI Lakeland Bancorp
$17.36 /

-0.17 (-0.97%)

Earnings
Lakeland Bancorp reports Q1 EPS 45c, consensus 39c » 08:19
04/27/21
04/27
08:19
04/27/21
08:19
LBAI

Lakeland Bancorp

$17.36 /

-0.17 (-0.97%)

For the first quarter of…

For the first quarter of 2021, annualized return on average assets was 1.22%, annualized return on average common equity was 12.20% and annualized return on average tangible common equity was 15.39%. Thomas Shara, Lakeland Bancorp's President and CEO commented, "I want to thank all of our Lakeland associates who unselfishly continue to deliver banking services to our customers and businesses while ensuring the safety and well-being of their fellow associates and our customers. Their commitment has been outstanding. Despite the ongoing pandemic, we are encouraged that our customers and local economy are faring well as evidenced by the continued improvements in asset quality with non-accrual loans and non-performing asset levels dropping below pre-COVID levels. As a result, we released a small portion of our loan reserves and will continue to monitor economic conditions closely as we progress into 2021."

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LBAI Lakeland Bancorp
$17.36 /

-0.17 (-0.97%)

06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
05/01/20 Piper Sandler
Lakeland Bancorp upgraded to Overweight from Neutral at Piper Sandler
LBAI Lakeland Bancorp
$17.36 /

-0.17 (-0.97%)

LBAI Lakeland Bancorp
$17.36 /

-0.17 (-0.97%)

Periodicals
Lakeland Bancorp to recommence existing share repurchase plan in Q1 » 08:24
01/28/21
01/28
08:24
01/28/21
08:24
LBAI

Lakeland Bancorp

$12.96 /

-0.42 (-3.14%)

On January 26, 2021, the…

On January 26, 2021, the Company declared a quarterly cash dividend of $0.125 per share to be paid on February 17, 2021, to shareholders of record as of February 8, 2021. The Company will recommence its existing share repurchase plan, which has 2.4 million shares remaining under the current plan, in the first quarter of 2021.

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LBAI Lakeland Bancorp
$12.96 /

-0.42 (-3.14%)

06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
05/01/20 Piper Sandler
Lakeland Bancorp upgraded to Overweight from Neutral at Piper Sandler
LBAI Lakeland Bancorp
$12.96 /

-0.42 (-3.14%)

Earnings
Lakeland Bancorp reports Q4 EPS 37c, consensus 29c » 08:24
01/28/21
01/28
08:24
01/28/21
08:24
LBAI

Lakeland Bancorp

$12.96 /

-0.42 (-3.14%)

At December 31, 2020,…

At December 31, 2020, stockholders' equity was $763.8 million compared to $725.3 million at December 31, 2019, a 5% increase. Lakeland Bancorp remains above FDIC "well capitalized" standards, with a Tier 1 leverage ratio of 8.37% at December 31, 2020. At December 31, 2020, the book value per common share increased 5% to $15.13 and tangible book value per common share increased 7% to $11.97. Thomas Shara, Lakeland Bancorp's President and CEO commented, "2020 turned out to be a year that no one could have anticipated. We have all been directly or indirectly impacted by the events of the past year and, while it has presented many challenges, I could not be prouder of our Lakeland team for going above and beyond to support our customers and communities. Our team worked tirelessly to ensure the needs of our customers were addressed by increasing our lending, extending PPP loans, granting loan payment deferrals to borrowers, keeping our branches open and increasing donations to the communities we serve. The ongoing pandemic has impacted every sector of our society and dramatically changed the financial services industry. Yet, Lakeland maintained its position as one of New Jersey's leading banks and developed even closer relationships with our customers in the last year. We will continue to prudently navigate the current environment with the safety of our customers and associates at the forefront. Our financial performance in this environment was strong and directly related to our focus on addressing our customers' needs. In 2020, we experienced substantial balance sheet growth in both our loan and deposit portfolios. Our provision for projected credit losses increased significantly due to the pandemic; however, our loan charge-offs remained very low for the year. Due to our strong capital position, we will be recommencing our share repurchase plan in the first quarter of 2021."

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LBAI Lakeland Bancorp
$12.96 /

-0.42 (-3.14%)

06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
06/17/20 Raymond James
Lakeland Bancorp upgraded to Outperform from Market Perform at Raymond James
05/01/20 Piper Sandler
Lakeland Bancorp upgraded to Overweight from Neutral at Piper Sandler
LBAI Lakeland Bancorp
$12.96 /

-0.42 (-3.14%)

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