Lakeland Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months Ended December 31, 2015
January 28, 2016 at 02:28 pm
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Lakeland Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2015. For the quarter, the company reported total interest income of USD 33.055 million compared to USD 31.228 million a year ago. Net interest income was USD 30.119 million compared to USD 28.850 million a year ago. Income before provision for income taxes was USD 12.755 million compared to USD 11.552 million a year ago. Net income was USD 8.464 million compared to USD 7.939 million a year ago. Basic and diluted earnings per common share was USD 0.22 compared to USD 0.21 a year ago.
For the twelve months, the company reported total interest income of USD 127.514 million compared to USD 122.503 million a year ago. Net interest income was USD 116.640 million compared to USD 113.566 million a year ago. Income before provision for income taxes was USD 48.648 million compared to USD 46.288 million a year ago. Net income was USD 32.481 million compared to USD 31.129 million a year ago. Basic and diluted earnings per common share was USD 0.85 compared to USD 0.82 a year ago. Annualized return on average assets was 0.89% compared to 0.90% a year ago. Annualized return on average common equity was 8.40% compared to 8.35% a year ago. Annualized return on tangible common equity was 11.64% compared to 11.87% a year ago. Book value per common share was USD 10.57 compared to USD 10.01 a year ago. Tangible book value per common share was USD 7.62 compared to USD 7.06 a year ago. Non-GAAP Return on average tangible common stockholders' equity was 11.58% compared to 12.21% a year ago.
Lakeland Bancorp, Inc. is a bank holding company for Lakeland Bank (the Bank). The Bank offers a suite of financial products and services for businesses and consumers. The Company offers a range of lending, depository, and related financial services to individuals and small to medium sized businesses located primarily in northern and central New Jersey, the Hudson Valley region in New York and surrounding areas. The Bank provides services in three categories: commercial bank services, consumer banking and other services. The Bank offers a range of lending services include commercial real estate loans, commercial and industrial loans, short- and medium-term loans, letters of credit, and others. Its consumer banking services include checking accounts, savings accounts, money market accounts, certificates of deposit, online banking and other. In addition, the Bank provides commercial title insurance services and life insurance products. The Bank operates approximately 68 branch offices.
LAKELAND BANCORP 
