LAKELAND BANCORP, INC LBAI Income Statement

Lakeland bancorp, inc (LBAI)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
INTEREST INCOME
Loans and fees
233,535	193,143	172,342	149,777	115,295	110,587	104,329	100,513	104,585	111,584	117,123
Federal funds sold and interest-bearing deposits with banks
1,720	1,559	880	569	62	71	93	51	51	121	109
Taxable investment securities and other
19,722	16,710	14,987	11,163	10,563	10,040	7,985	8,574	10,882	11,934	14,351
Tax-exempt investment securities
1,510	1,709	1,995	1,787	1,594	1,805	1,792	1,821	2,006	2,010	2,239
TOTAL INTEREST INCOME
256,487	213,121	190,204	163,296	127,514	122,503	114,199	110,959	117,524	125,649	133,822
INTEREST EXPENSE
Deposits
49,248	30,620	16,600	10,512	5,755	5,064	6,089	8,344	10,878	15,195	26,793
Federal funds purchased and securities sold under agreements to repurchase
1,471	471	198	69	110	78	39	79	88	127	139
Other borrowings
9,734	8,471	8,168	7,066	5,009	3,795	3,529	7,023	9,145	10,573	13,511
Interest Expense
60,453	39,562	24,966	17,647	10,874	8,937	9,657	15,446	20,111	25,895	40,443
NET INTEREST INCOME
196,034	173,559	165,238	145,649	116,640	113,566	104,542	95,513	97,413	99,754	93,379
Provision for loan losses
2,130	4,413	6,090	4,223	1,942	5,865	9,343	14,907	18,816	19,281	51,615
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
193,904	169,146	159,148	141,426	114,698	107,701	95,199	80,606	78,597	80,473	41,764
NONINTEREST INCOME
Service charges on deposit accounts
11,205	10,584	10,740	10,157	10,024	10,523	10,837	10,504	10,262	10,278	10,918
Commissions and fees
6,230	5,542	4,858	4,349	4,568	4,634	4,585	4,491	3,703	3,533	3,709
Other-than-temporary impairment loss on securities
-	-	-	-	-	-	-	-	-	128	940
Income on bank owned life insurance
2,700	3,300	2,400	2,562	2,017	1,453	1,410	1,344	1,423	1,516	1,930
Equity Securities, FV-NI, Realized Gain (Loss)
496	-583	0	0	-	-	-	-	-	-	-
Gains on sales of loans
1,660	1,329	1,836	2,123	1,681	573	760	-	-	-	-
Gain on debt extinguishment
-	-	-	-	1,830	-	1,197	-	-	-	-
Gains on sales of investment securities, net
0	0	2,524	370	241	2	839	1,049	1,229	1,742	3,845
Swap income
3,231	1,992	982	-	-	-	-	-	-	-	-
Gains on leasing related assets, net
-	-	-	-	-	-	-	-	-	1,580	-1,142
Other income
1,234	190	2,141	1,769	800	537	1,333	1,517	1,500	747	537
Total Noninterest Income
26,796	22,310	25,435	21,330	21,161	17,722	20,961	18,905	18,117	19,268	18,857
NONINTEREST EXPENSE
Salaries and employee benefits
77,287	68,595	61,166	56,107	48,640	45,167	41,871	38,586	36,500	36,086	34,505
Net occupancy expense
11,029	10,155	10,243	9,935	8,956	8,865	8,074	7,089	6,885	6,735	6,637
Furniture and equipment
8,681	8,297	8,269	8,017	6,930	6,605	6,181	4,751	4,726	4,867	5,038
FDIC insurance expense
431	1,608	1,577	2,248	2,086	2,019	2,014	2,163	2,790	3,764	5,819
Stationery, supplies and postage
1,599	1,625	1,797	1,727	1,529	1,403	1,482	1,415	1,396	1,636	1,605
Marketing expense
1,945	1,437	1,675	1,672	1,586	2,025	2,088	2,034	2,409	2,700	2,633
Data processing expense
4,913	3,609	1,993	1,891	1,524	1,245	1,466	-	-	-	-
Telecommunications expense
1,943	1,769	1,607	1,631	1,448	1,386	1,381	-	-	-	-
ATM and debit card expense
2,377	2,195	2,051	1,582	1,398	1,432	1,360	-	-	-	-
Amortization of Intangible Assets
1,200	594	654	734	415	464	288	-	577	1,062	1,062
Collection expense
-	-	-	-	-	-	-	-	-	592	1,552
Legal expense
-	-	-	-	-	-	-	1,236	1,692	1,698	1,003
Other real estate and repossessed asset expense
256	158	181	116	181	234	24	99	780	483	1,002
Long-term debt prepayment fee
0	0	2,828	0	2,407	-	1,209	782	800	1,835	3,075
Business Combination, Acquisition Related Costs
3,178	464	0	4,100	1,152	-	2,834	-	-	-	-
Other expenses
11,935	10,661	10,493	10,154	8,959	8,290	8,469	9,518	9,596	8,947	9,863
TOTAL NONINTEREST EXPENSE
126,756	111,167	104,534	99,917	87,211	79,135	78,741	67,673	68,151	70,405	73,794
Income before provision for income taxes
93,944	80,289	80,049	62,839	48,648	46,288	37,419	31,838	28,563	29,336	-13,173
Provision for income taxes
23,272	16,888	27,469	21,321	16,167	15,159	12,450	10,096	8,712	10,125	-7,777
Net Income (Loss) Attributable to Parent
70,672	63,401	52,580	41,518	32,481	31,129	24,969	21,742	19,851	19,211	-5,396
Dividends on Preferred Stock and Accretion
-	-	-	-	-	-	-	620	2,167	3,987	3,194
Net Income Available to Common Stockholders
-	-	-	-	-	-	-	21,122	17,684	15,224	-8,590
Earnings Per Share [Abstract]
Earnings Per Share, Basic
1.39	1.32	1.10	0.96	0.85	0.82	0.71	0.72	0.66	0.57	-0.35
Earnings Per Share, Diluted
1.38	1.32	1.09	0.95	0.85	0.82	0.71	0.72	0.66	0.57	-0.35
Common Stock, Dividends, Per Share, Cash Paid
0.49	0.45	0.40	0.37	0.33	0.29	0.27	0.24	0.23	0.19	0.29