Lakeland Bancorp Announces Quarterly and Year-End 2023 Earnings
OAK RIDGE, N.J., Jan. 25, 2024 (GLOBE NEWSWIRE) — Lakeland Bancorp, Inc. (NASDAQ: LBAI) (the “Company”), the parent company of Lakeland Bank (“Lakeland”), reported net income of $20.1 million and earnings per diluted share (“EPS”) of $0.30 for the three months ended December 31, 2023, compared to net income of $33.6 million and diluted EPS of $0.51 for the fourth quarter of 2022. For the fourth quarter of 2023, annualized return on average assets was 0.73%, annualized return on average common equity was 6.97% and annualized return on average tangible common equity was 9.23%.