secwatch.observer — SEC 8-K summary
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Issuer:     LAKELAND BANCORP INC (—)
CIK:        0000846901
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001171843-24-002098
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/846901/000117184324002098/0001171843-24-002098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/846901/000117184324002098/f8k_041924.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002098

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