UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-17820 LAKELAND BANCORP, INC. (Exact name of registrant as specified in its charter) New Jersey 22-2953275 (State or other juris ...

EXHIBIT 99.1 Lakeland Bancorp Announces First Quarter Results OAK RIDGE, N.J., April 19, 2024 (GLOBE NEWSWIRE) -- 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. For the first quarter of 2024, annualized return on averag ...

ISELIN, N.J. and OAK RIDGE, N.J, April 11, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) ("Provident"), the parent company of Provident Bank, and Lakeland Bancorp, Inc. (NASDAQ:LBAI) ("Lakeland"), the parent company of Lakeland Bank, today announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System (the "Federal Reserve") for Provident and Lakeland to complete their previously announced merger. With this approval, no further regulatory approval ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 000-17820 LAKELAND BANCORP, INC. (Exact name of registrant as specified in its charter) New Jersey 22-2953275 (State or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-17820 LAKELAND BANCORP, INC. (Exact name of registrant as specified in its charter) New Jersey 22-2953275 (State or other j ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-17820 LAKELAND BANCORP, INC. (Exact name of registrant as specified in its charter) New Jersey 22-2953275 (State or other jurisdi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-17820 LAKELAND BANCORP, INC. (Exact name of registrant as specified in its charter) New Jersey 22-2953275 (State or other jurisd ...

Financial Performance - Total assets increased to $10,783,840 thousand in 2022, up from $8,198,056 thousand in 2021, representing a growth of 31.7%[310] - Net income for 2022 was $107,369 thousand, compared to $95,041 thousand in 2021, reflecting an increase of 12.3%[313] - Total loans, net of deferred fees, rose to $7,795,786 thousand in 2022, up from $5,918,101 thousand in 2021, marking a growth of 31.7%[310] - Total deposits increased to $8,567,471 thousand in 2022, compared to $6,965,823 thousand in 2021, an increase of 23.0%[310] - Net interest income after provision for credit losses was $304,101 thousand in 2022, up from $245,731 thousand in 2021, a rise of 23.6%[313] - Noninterest income totaled $28,099 thousand in 2022, compared to $22,361 thousand in 2021, an increase of 25.7%[313] - Total noninterest expense increased to $188,208 thousand in 2022, up from $140,757 thousand in 2021, reflecting a rise of 33.8%[313] - Cash dividends paid per share increased to $0.57 in 2022 from $0.53 in 2021, a rise of 7.5%[313] - The allowance for credit losses increased to $70,264 thousand in 2022 from $58,047 thousand in 2021, reflecting a growth of 20.0%[310] - Net cash provided by operating activities increased to $124,696,000 in 2022 from $95,103,000 in 2021, reflecting a growth of 31%[322] Employee and Organizational Growth - As of December 31, 2022, Lakeland employed 911 associates, a 27% increase from 717 associates in 2021, with approximately 68% being women[24] - Approximately 29% of Lakeland's staff had been with the Company for over 10 years as of December 31, 2022, indicating strong employee retention[28] - The Company has implemented a Leader Engagement and Development (LEAD) Program since 2018, with 51 associates completing the program to foster leadership skills[25] - The Company provides competitive employee benefits, including a 401(k) plan with employer matching contributions and wellness programs, to enhance associate satisfaction[28] Regulatory Compliance and Capital Requirements - Lakeland's consolidated assets exceeded $10 billion following the acquisition of 1st Constitution Bancorp and 1st Constitution Bank on January 6, 2022, leading to increased regulatory supervision[32] - As of December 31, 2022, the Company and Lakeland met all capital requirements under the Basel Rules, including the capital conservation buffer requirement, and were classified as "well capitalized" on that date[58] - The Company is required to maintain a Common Equity Tier 1 Capital Ratio of at least 4.5%, a Tier 1 Capital Ratio of at least 6.0%, and a Total Capital Ratio of at least 8.0% to be classified as "well capitalized"[56] - The Federal Reserve Board and FDIC have established guidelines that limit the amount of dividends the Company can pay based on its capital ratios and current operating earnings[46] - The Company must comply with a leverage ratio requirement of 4.0% as part of its capital requirements[49] - The Basel Rules require a capital conservation buffer of 2.5%, effectively increasing the minimum capital ratios the Company must maintain[50] Competition and Market Position - The Company faces intense competition from various financial institutions, including credit unions and fintechs, which may impact its market share and pricing strategies[21] - The Company faces intense competition from financial services and technology companies, which may lead to actions such as lowering interest rates or fees to attract customers[167] - The Company aims to establish a reputation as the "small and middle market business bank" in its principal markets[326] Mergers and Acquisitions - The merger will convert each share of the Company common stock into 0.8319 of a share of Provident common stock, with no adjustments for market price fluctuations[75] - The combined company will incur substantial non-recurring costs related to the merger, including legal and advisory fees, which may affect future earnings[79] - The merger is subject to various regulatory approvals, which may impose conditions that could delay or adversely affect the combined company's operations[87] - The success of the merger depends on the ability to retain key employees and effectively manage the expanded operations of the combined company[86] - The combined company will face increased scrutiny from governmental authorities due to its larger size following the merger[85] - The merger agreement includes conditions that must be fulfilled, including SEC registration of shares and shareholder approval, which have already been met[94] - The integration process may result in unforeseen expenses and challenges that could impact the anticipated benefits of the merger[81] - The merger agreement includes a termination fee of $50 million payable under certain circumstances if the merger is not completed[96] Risk Factors - The company faces liquidity risks if its ability to borrow funds from the FHLB or other sources deteriorates, which could impact its financial condition[129] - Interest rate risks could negatively affect net interest income, which is the company's largest source of income, and changes in rates may influence loan demand and asset values[123] - The company is exposed to various economic risks, including potential increases in loan delinquencies and foreclosures due to adverse economic conditions[120] - Cybersecurity risks pose a threat to the company's operations, with potential impacts on reputation, customer retention, and regulatory scrutiny[137] - The ongoing COVID-19 pandemic has materially impacted supply chains and could lead to economic disruptions affecting the Company's operations and financial condition[162] - The Company faces risks from severe weather and geopolitical events, which could disrupt operations and impair borrowers' ability to repay loans[161] Asset Management and Investments - The company's investment portfolio was approximately $1.98 billion as of December 31, 2022, with $1.05 billion classified as available for sale and $923.3 million as held to maturity[135] - The transition from LIBOR to alternative rates, such as Term SOFR, is ongoing, with the company focusing on converting remaining LIBOR-based loans, which may impact risk profiles and pricing models[133] - The held-to-maturity portfolio includes major security types such as U.S. government agencies and mortgage-backed securities, which are highly rated and have a history of no credit losses[336] - The Company evaluates securities in segments for risk characteristics, utilizing a historical losses method for estimating expected collections on mortgage-backed securities and related obligations[337] Community Engagement - Lakeland received an "Outstanding" rating in its most recent Community Reinvestment Act examination, reflecting its commitment to meeting community credit needs[41] - Lakeland Bank will provide $12 million in loan subsidies over five years in Majority Black and Hispanic Census Tracts within the Newark Lending Area[72] - The bank will also allocate $750,000 for additional marketing of mortgage lending services and $400,000 for community development partnerships in the Newark Lending Area[72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (I.R.S. Employer Identification No.) 250 Oak Ridge Road, Oak Ridge, New Jersey 07438 (Address of principal executive offices and zip code) (973) 697-20 ...

Lakeland Bancorp, Inc. (NASDAQ:LBAI) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Mary Russell - Assistant Controller and Director, Financial Reporting Thomas Shara - President and CEO Thomas Splaine - Executive Vice President and CFO Conference Call Participants Chris O'Connell - KBW Operator Good morning. And welcome to the Lakeland Bancorp, Incorporated Third Quarter Earnings Conference Call. My name is Megan, and I will be coordinating todayÂ's call. You will have t ...