Lakeland Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, net interest income was $27,973,000 against $24,164,000 a year ago. This increase was due to the improved NIM, as well as a 14% increase in interest-earning assets, resulting from the Somerset Hills' merger, as well as organic growth. Pretax income was $11,044,000 against $8,517,000 a year ago. Net income was $7,341,000 against $5,829,000 a year ago. Net income available to common stockholders was $7,341,000 or $0.20 per basic and diluted share against $5,829,000 or $0.20 per basic and diluted share a year ago. Annualized return on average assets was 0.88% against 0.81% a year ago. Annualized return on average common equity was 8.30% against 8.30% a year ago. Annualized return on average tangible common equity was 12.23% against 12.06% a year ago. Total revenue was $33,445,000 against $29,601,000 a year ago. Adjusted total revenue was $33,360,000 against $29,067,000 a year ago.

For the full year, net interest income was $104,542,000 against $95,513,000 a year ago. Pretax income was $37,419,000 against $31,838,000 a year ago. Net income was $24,969,000 against $21,742,000 a year ago. Net income available to common stockholders was $24,969,000 or $0.75 per basic and diluted share against $21,122,000 or $0.76 per basic and diluted share a year ago. Annualized return on average assets was 0.80% against 0.77% a year ago. Annualized return on average common equity was 7.78% against 8.48% a year ago. Annualized return on average tangible common equity was 11.42% against 12.85% a year ago. Book value per common share was $9.74 as at December 31, 2013 against $9.45 as at December 31, 2012. Tangible book value per common share was $6.63 as at December 31, 2013 against $6.52 as at December 31, 2012. Tangible book value per share - non-GAAP was $6.63 as at December 31, 2013 against $6.52 as at December 31, 2012. Return on average tangible common stockholders' equity - non-GAAP was $12.23% against $12.06% a year ago. Total revenue was $125,503,000 against $114,418,000 a year ago. Adjusted total revenue was $124,432,000 against $114,350,000 a year ago.

For the quarter, the company had net charge offs totaling $1,623,000 against $2,862,000 for the same period in the last year.