Lakeland Bancorp reports Q4 EPS 30c vs 51c last year

At December 31, 2023, total assets were $11.14 billion, an increase of $354.7 million, or 3%, compared to December 31, 2022. For the year ended December 31, 2023, total loans increased $477.8 million to $8.34 billion, while investment securities decreased $184.5 million to $1.85 billion. Thomas Shara, Lakeland Bancorp’s President and CEO commented on the yearly financial results: “Despite a challenging economic environment in 2023, we are very pleased with our continued loan growth of 6% and our continued stellar asset quality as loan charge-offs for the year were negligible. Our deposit base was resilient throughout the banking crisis which speaks to our core deposit customer focus. I want to thank all of the Lakeland associates for their incredible contributions and unwavering customer support during this uncertain period.”