Lakeland Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 08:00 am EDT
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Lakeland Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 71.54 million compared to USD 80.3 million a year ago. Net income was USD 22.63 million compared to USD 29.12 million a year ago. Basic earnings per share from continuing operations was USD 0.34 compared to USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 0.34 compared to USD 0.44 a year ago.
For the six months, net interest income was USD 147.47 million compared to USD 150.69 million a year ago. Net income was USD 42.43 million compared to USD 45.05 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to USD 0.69 a year ago. Diluted earnings per share from continuing operations was USD 0.64 compared to USD 0.69 a year ago.
Lakeland Bancorp, Inc. is a bank holding company for Lakeland Bank (the Bank). The Bank offers a suite of financial products and services for businesses and consumers. 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. The Bank provides services in three categories: commercial bank services, consumer banking and other services. The Bank offers a range of lending services include commercial real estate loans, commercial and industrial loans, short- and medium-term loans, letters of credit, and others. Its consumer banking services include checking accounts, savings accounts, money market accounts, certificates of deposit, online banking and other. In addition, the Bank provides commercial title insurance services and life insurance products. The Bank operates approximately 68 branch offices.