Lakeland Bancorp, Inc. (LBAI): history, ownership, mission, how it works & makes money

A Brief History of Lakeland Bancorp, Inc. (LBAI)

Founding and Early Years

Lakeland Bancorp, Inc. was founded in 1969 as Lakeland Bank, primarily serving the community of Oak Ridge, New Jersey. Over the years, the bank expanded its operations through various mergers and acquisitions.

Expansion Phase

In 1988, Lakeland Bancorp became a publicly traded company. By 1999, the bank had expanded its presence throughout Northern New Jersey, acquiring several smaller banks. As of December 31, 2021, Lakeland Bancorp had total assets amounting to approximately $5.3 billion.

Acquisitions

• 2004: Merged with Sussex Bank, enhancing its market presence.
• 2012: Acquired the assets and deposits of the failed New Jersey-based Financial Resources Federal Credit Union.
• 2018: Completed the acquisition of the New Jersey branches of the Bank of New Jersey, further solidifying its market share.

Recent Financial Performance

As of Q2 2023, Lakeland Bancorp reported:

Community Engagement and Corporate Responsibility

Lakeland Bancorp is committed to community service and philanthropy, contributing over $1 million annually to local organizations. Their community involvement spans various sectors, including education, healthcare, and economic development.

Current Market Position

Lanland Bancorp is one of the largest commercial banks in New Jersey, focusing on business and consumer banking products. Their network consists of over 50 locations across New Jersey.

Stock Information

Lakeland Bancorp trades on the NASDAQ under the ticker symbol LBAI. As of October 2023, the stock price was approximately $15.75, with a market capitalization of around $500 million.

Future Outlook

Analysts project that Lakeland Bancorp will continue to grow its asset base by approximately 5% annually over the next three to five years, largely driven by organic growth and strategic acquisitions.

A Who Owns Lakeland Bancorp, Inc. (LBAI)

Shareholding Structure

As of the latest available data, Lakeland Bancorp, Inc. (LBAI) has a diversified ownership structure consisting of institutional investors, retail investors, and insider ownership. The following table summarizes the major shareholders:

Key Institutional Shareholders

Several institutional investors hold significant stakes in Lakeland Bancorp, contributing to its governance and financial strength. Below is a list of some key institutional shareholders along with their respective ownership percentages:

Insider Ownership

Insider ownership plays a crucial role in aligning the interests of management with those of shareholders. The insiders at Lakeland Bancorp include executives and board members who hold shares of the company. The table below provides insights into key insiders and their ownership:

Recent Stock Performance

As of October 2023, Lakeland Bancorp's stock price has shown steady performance. The following table illustrates key financial metrics over the past few quarters:

Analyst Ratings

Analyst ratings provide insights into market perceptions of Lakeland Bancorp's potential. The table below summarizes the latest analyst ratings:

Lakeland Bancorp, Inc. (LBAI) Mission Statement

Company Overview

Lakeland Bancorp, Inc. (NASDAQ: LBAI) is the parent company of Lakeland Bank, which primarily operates in the northeastern United States. The bank serves individuals, families, and businesses through a range of financial products.

Mission Statement

The mission of Lakeland Bancorp is to deliver superior financial services to their customers, enhance shareholder value, and engage in community development. Their focus is on personal and business banking, investment services, and mortgage lending.

Core Values

• Integrity
• Community Engagement
• Customer Focus
• Innovation
• Teamwork

Financial Highlights

Customer Base

As of 2022, Lakeland Bancorp serves over 100,000 customers, providing a wide array of services including commercial and residential lending, personal banking, and business accounts.

Community Involvement

In 2022, Lakeland Bancorp contributed over $1 million to community initiatives, supporting local non-profits and educational programs.

Strategic Goals

• Expand digital banking capabilities by 2024.
• Increase community engagement initiatives by 20% year-over-year.
• Achieve a net interest margin of at least 3.5% by 2025.

Conclusion of Mission Execution

By adhering to their mission statement and core values, Lakeland Bancorp aims to foster sustainable growth and maintain a strong presence in the financial services industry.

How Lakeland Bancorp, Inc. (LBAI) Works

Company Overview

Lakeland Bancorp, Inc. (LBAI) is a financial holding company headquartered in Oak Ridge, New Jersey. It operates through its subsidiary, Lakeland Bank, providing various financial services primarily to clients in New Jersey and surrounding regions. As of the end of Q3 2023, LBAI has total assets of approximately $5.69 billion.

Business Segments

The operations of Lakeland Bancorp can be categorized into several key segments:

• Commercial Banking
• Retail Banking
• Wealth Management
• Mortgage Banking

Financial Performance

In the fiscal year 2022, Lakeland Bancorp reported:

• Total Revenue: $220 million
• Net Income: $47.5 million
• Return on Average Assets (ROAA): 0.84%
• Return on Average Equity (ROAE): 10.12%

For Q3 2023, the following financial metrics were reported:

• Total Assets: $5.69 billion
• Net Loans: $3.63 billion
• Deposits: $4.79 billion
• Non-Performing Assets Ratio: 0.57%

Loan Portfolio

Lakeland Bancorp's loan portfolio is diversified across various sectors:

Deposits and Funding

As of Q3 2023, the deposit breakdown for Lakeland Bancorp is as follows:

Capital and Risk Management

Lakeland Bancorp maintains a strong capital position with the following metrics reported as of Q3 2023:

• Common Equity Tier 1 (CET1) Ratio: 10.5%
• Total Capital Ratio: 12.5%
• Leverage Ratio: 8.0%

Market Position

As of the end of 2023, Lakeland Bancorp operates 54 branches and is positioned as one of the top regional banks in New Jersey. The bank's stock (LBAI) is traded on the NASDAQ and has a market capitalization of approximately $500 million.

Recent Developments

In the past year, Lakeland Bancorp has engaged in strategic initiatives:

• Expansion of its digital banking platform
• Launch of a new wealth management service
• Acquisition of a local community bank resulting in a 20% increase in assets

How Lakeland Bancorp, Inc. (LBAI) Makes Money

Core Banking Activities

Lakeland Bancorp, Inc. primarily generates revenue through traditional banking activities such as:

• Interest income from loans
• Service fees from deposits
• Investment income

Interest Income

The largest source of revenue for Lakeland Bancorp comes from interest income generated from various types of loans. As of Q2 2023, the company reported:

The sum total of annual interest income from these loan products amounts to approximately $119.5 million.

Service Fees and Charges

Service fees and charges play a vital role in the company's revenue generation. In 2022, Lakeland Bancorp reported total service charge income of:

The overall service fee income reached $20 million in 2022.

Investment Income

Lakeland Bancorp also generates revenue from its investment portfolio. As of Q2 2023, the bank's investment securities totaled:

The total annual investment income from these securities is approximately $13 million.

Fee-Based Income from Wealth Management

Additionally, Lakeland Bancorp offers wealth management services, contributing to its fee-based income. In 2022, the bank reported fee revenues from these services of:

The total income from wealth management services was approximately $7 million.

Cost Structure and Net Interest Margin

In assessing how Lakeland Bancorp makes money, understanding its cost structure is crucial. As of Q2 2023, the company reported:

The net interest margin, an important indicator of profitability, stood at approximately 3.50% as of the same period.

Overall Financial Performance

For a comprehensive view, Lakeland Bancorp's financial performance metrics are summarized as follows: