Lakeland Bancorp, Inc. (the "Company" or "Lakeland Bancorp") is a bank holding company headquartered in Oak Ridge, New Jersey. The Company was organized in March of 1989 and commenced operations on May 19, 1989, upon the consummation of the acquisition of all of the outstanding stock of Lakeland Bank, formerly named Lakeland State Bank ("Lakeland" or the "Bank" or "Lakeland Bank"). The Bank operates 54 branch offices throughout Bergen, Essex, Morris, Ocean, Passaic, Somerset, Sussex, and Union counties in New Jersey and also including one branch in Highland Mills, New York; six New Jersey regional commercial lending centers in Bernardsville, Jackson, Montville, Newton, Teaneck and Waldwick; and one in New York to serve the Hudson Valley region. Lakeland also has a commercial loan production office serving Middlesex and Monmouth counties in New Jersey. Lakeland offers an extensive suite of financial products and services for businesses and consumers.
The Company has shown substantial growth through a combination of organic growth and acquisitions. Since 1998, the Company has acquired eight community banks with an aggregate asset total of approximately $2.3 billion, including its most recent acquisition of Highlands State Bank and its parent, Highlands Bancorp, Inc. ("Highlands Bancorp"), which closed on January 4, 2019. All of the acquired banks have been merged into Lakeland and the acquired holding companies, if applicable, have been merged into the Company.
At December 31, 2018, Lakeland Bancorp had total consolidated assets of $5.8 billion, total consolidated deposits of $4.6 billion, total consolidated loans, net of the allowance for loan and lease losses, of $4.4 billion and total consolidated stockholders' equity of $623.7 million. Following the closing of Lakeland Bancorp's acquisition of Highlands Bancorp and its subsidiary, Highlands State Bank, on January 4, 2019, Lakeland Bancorp's total assets approximated $6.3 billion.