Lakeland Bancorp Reports Q1 2024 Net Income of $19.8M, Declares $0.145 Dividend, Provides Merger Update

LAKELAND BANCORP INC

2024-Q1 EPS reported $0.30

Net income for Q1 2024 was $19.8 million, flat year-over-year, with diluted EPS of $0.30.
Declared quarterly cash dividend of $0.145 per share, payable May 8, 2024 to holders of record April 29.
Nonperforming assets decreased 12% to $14.9M (0.14% of assets) from $16.9M a year ago.
All regulatory approvals obtained for merger with Provident Financial Services; subordinated debt offering in progress.
Net interest margin declined 61 bps to 2.46% from 3.07% in Q1 2023 due to higher deposit costs.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LAKELAND BANCORP INC reported the three months ended March 31, 2024 results: net income $19.8 million, EPS $0.30.

Period: the three months ended March 31, 2024
Net income: $19.8 million
EPS: $0.30
Result: reported results

Exact text from the filing

Lakeland Bancorp, Inc. (NASDAQ: LBAI ) (the “Company”), the parent company of Lakeland Bank (“Lakeland”), reported net income of $19.8 million and earnings per diluted share ("EPS") of $0.30 for the three months ended March 31, 2024 compared to net income of $19.8 million and diluted EPS of $0.30 for the three months ended March 31, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LAKELAND BANCORP INC reported the three months ended March 31, 2023 results: net income $19.8 million, EPS $0.30.

Period: the three months ended March 31, 2023
Net income: $19.8 million
EPS: $0.30
Result: reported results

Exact text from the filing

Lakeland Bancorp, Inc. (NASDAQ: LBAI ) (the “Company”), the parent company of Lakeland Bank (“Lakeland”), reported net income of $19.8 million and earnings per diluted share ("EPS") of $0.30 for the three months ended March 31, 2024 compared to net income of $19.8 million and diluted EPS of $0.30 for the three months ended March 31, 2023.

View on SEC.gov

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Source: SEC EDGAR

accession 0001171843-24-002098

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