Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Lakeland Bancorp : Bank Provides $30,000,000 towards Capital Expenditures and Refinancing of a Multi-Site, Nonprofit Senior Living Provider - April 6, 2021

04/06/2021 | 08:48am EDT

Oak Ridge, N.J. - April 6, 2021 - Lakeland Bank was pleased to provide $30,000,000 to finance one of three bond series used to refinance existing debt of the newly formed Obligated Group for Springpoint Senior Living, Inc. This will provide new funds for capital improvements across several of their campuses. Springpoint was formed in 1916 and today serves as one of the largest nonprofit providers of senior housing and care services with more than 27 communities in New Jersey and Delaware. Lakeland was one of two lenders working in tandem with the active public finance market to secure the $200MM total financing.

'Lakeland proved to be a valuable partner in completing our transaction for a combined $200MM of which we placed $115MM in fixed-rate tax-exempt bonds and $85MM in taxable bonds,' said Garrett Midgett III, Senior Vice President and Chief Financial Officer of Springpoint. 'The expertise and professionalism of the Lakeland bankers combined with their knowledge of our organization and the senior living industry was paramount to completing a smooth transaction.'

'Lakeland Bank is committed to working alongside the very best care providers in the region and certainly Springpoint is a marquee name in this space. I have worked with this client several times in the past and knew their team would be up for the challenge in coordinating a financing effort of this size and scope,' said Ron Krauskopf, Senior Vice President of Healthcare Lending. 'Lakeland looks forward to forging new relationships with organizations that do so much for the seniors in our communities.'

Lakeland Bank's Healthcare Banking experts are here to help by delivering customized solutions for unique challenges within the healthcare industry. Lakeland Bank's Healthcare Banking offers comprehensive lending and treasury management solutions to organizations across the healthcare spectrum. Our experienced lenders utilize a relationship banking approach, allowing them to provide value in many different verticals to various businesses. We provide financial solutions to nonprofit organizations, hospitals, higher education, senior living facilities, private equity groups, medical office building buyers, real estate investment trusts, large medical practices, behavioral health and ambulatory/outpatient facilities.

About Springpoint

Springpoint is a nationally recognized senior living provider with a legacy of over 100 years serving the Mid-Atlantic region. It consists of Springpoint Senior Living and its eight full-service Life Plan Communities and 19 affordable housing communities in New Jersey and Delaware. It also includes Springpoint at Home, providing home care and care management services, and Springpoint Choice, a membership-based program offering security for members. Learn more about Springpoint at springpointsl.org.

About Lakeland Bank

Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $7.6 billion in total assets. With an extensive branch network and commercial lending centers throughout New Jersey and Highland Mills, N.Y., the Bank offers business and retail banking products and services. Business services include commercial loans and lines of credit, commercial real estate loans, loans for healthcare services, asset based lending, equipment financing, small business loans and lines, and cash management services. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions. Lakeland is proud to be recognized as a Best-In-State Bank by Forbes and Statista, rated a 5-Star Bank by Bauer Financial and named one of New Jersey's 50 Fastest Growing Companies by NJBIZ. Visit LakelandBank.com for more information.


Lakeland Bancorp Inc. published this content on 06 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2021 12:47:06 UTC.

© Publicnow 2021
05/07LAKELAND BANCORP  : Management's Discussion and Analysis of Financial Condition ..
05/06LAKELAND BANCORP, INC. : Ex-dividend day for
05/04LAKELAND BANCORP  : Bank Provides $20,700,000 Loan for the Construction of an As..
05/03LAKELAND BANCORP  : Bank and ICBA Offer Tips for Safe Travel - May 3, 2021
04/30LAKELAND BANCORP  : Investor Presentation - 1st Quarter 2021
04/28LAKELAND BANCORP  : Raymond James Upgrades Lakeland Bancorp to Strong Buy Rating..
04/27LAKELAND BANCORP  : Posts Higher Q1 Earnings, Revenue; Increases Quarterly Divid..
04/27LAKELAND BANCORP INC  : Results of Operations and Financial Condition, Financial..
04/27LAKELAND BANCORP INC  : Results of Operations and Financial Condition, Other Eve..
04/27LAKELAND BANCORP : Q1 Earnings Snapshot
More news
Financials (USD)
Sales 2021 255 M - -
Net income 2021 84,9 M - -
Net Debt 2021 - - -
P/E ratio 2021 11,2x
Yield 2021 2,83%
Capitalization 949 M 949 M -
Capi. / Sales 2021 3,72x
Capi. / Sales 2022 3,62x
Nbr of Employees 689
Free-Float 94,9%
Duration : Period :
Lakeland Bancorp, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LAKELAND BANCORP, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 7
Average target price 21,21 $
Last Close Price 18,72 $
Spread / Highest target 22,9%
Spread / Average Target 13,3%
Spread / Lowest Target 6,84%
EPS Revisions
Managers and Directors
Thomas J. Shara President & Chief Executive Officer
Thomas F. Splaine Chief Financial Officer & Executive Vice President
Mary Ann Deacon Chairman
Ronald E. Schwarz Chief Operating Officer & Senior Executive VP
Timothy J. Matteson Secretary, Chief Administrative Officer & EVP
Sector and Competitors