Lakeland Bancorp Announces Closing of Acquisition of Pascack Bancorp
January 07 2016 - 2:00PM
Lakeland Bancorp, Inc. (NASDAQ:LBAI) (“Lakeland Bancorp”), the
parent company of Lakeland Bank, announced that its acquisition by
merger of Pascack Bancorp, Inc. (formerly OTCQX:PSBR), the parent
company of Pascack Community Bank, closed today upon the filing of
a Certificate of Merger with the New Jersey Department of
Treasury. Shortly after the merger of the holding companies,
Pascack Community Bank merged with and into Lakeland Bank.
Following the merger, Lakeland Bancorp, the
holding company for Lakeland Bank, will have $4.3 billion in total
assets and will operate 53 New Jersey branch offices in Bergen,
Essex, Morris, Passaic, Somerset, Sussex, Union and Warren
counties, five New Jersey regional commercial lending centers
in Bernardsville, Montville, Newton, Teaneck and Wyckoff/Waldwick
and two commercial loan production offices serving Middlesex and
Monmouth counties in New Jersey and the Hudson Valley region
of New York. Lakeland Bank offers an extensive array of consumer
and commercial products and services, including online and mobile
banking, localized commercial lending teams, and 24-hour or less
turnaround time on consumer loan applications. For more information
about the full line of products and services, visit
LakelandBank.com.
Forward Looking Statements
This communication contains forward-looking statements that are
made in reliance upon the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements speak only as of the date made, and are subject to
numerous assumptions, risks and uncertainties, all of which may
change over time. Lakeland Bancorp does not assume any obligation
for updating any such forward-looking statements at any time.
Contact:
Lakeland Bancorp, Inc.:
Thomas J. Shara
President & CEO
Joseph F. Hurley
EVP & CFO
973-697-2000
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