Lakeland bancorp, inc (LBAI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
INTEREST INCOME
Loans and fees

57,857

58,211

58,563

59,119

57,642

50,759

49,181

47,659

45,544

44,889

44,302

42,740

40,411

40,090

39,766

35,800

34,121

30,065

29,123

28,211

27,896

28,182

27,949

27,558

26,898

27,207

27,350

25,365

24,407

24,854

24,929

25,272

25,458

25,801

25,999

26,120

26,665

27,670

28,049

Federal funds sold and interest-bearing deposits with banks

159

423

695

348

254

715

533

145

166

262

210

132

276

228

142

124

75

32

7

11

12

25

24

9

13

36

27

17

13

22

17

6

6

12

16

11

12

42

40

Taxable investment securities and other

5,229

4,857

5,007

4,985

4,873

4,550

4,141

4,027

3,992

3,850

3,720

3,818

3,599

2,878

2,627

2,696

2,962

2,562

2,639

2,688

2,674

2,592

2,387

2,515

2,546

2,441

2,017

1,808

1,719

1,906

2,121

2,207

2,340

2,434

2,773

2,962

2,713

3,107

3,009

Tax-exempt investment securities

332

345

361

396

408

410

427

429

443

460

503

522

510

487

470

417

413

396

390

398

410

429

436

467

473

461

461

440

430

450

428

453

490

500

500

507

499

495

497

TOTAL INTEREST INCOME

63,577

63,836

64,626

64,848

63,177

56,434

54,282

52,260

50,145

49,461

48,735

47,212

44,796

43,683

43,005

39,037

37,571

33,055

32,159

31,308

30,992

31,228

30,796

30,549

29,930

30,145

29,855

27,630

26,569

27,232

27,495

27,938

28,294

28,747

29,288

29,600

29,889

31,314

31,595

INTEREST EXPENSE
Deposits

10,863

11,722

13,267

12,762

11,497

9,935

8,429

6,501

5,755

5,039

4,443

3,784

3,334

3,017

2,886

2,404

2,205

1,662

1,464

1,346

1,283

1,302

1,256

1,243

1,263

1,349

1,518

1,560

1,662

1,923

2,026

2,139

2,256

2,568

2,572

2,807

2,931

3,584

3,868

Federal funds purchased and securities sold under agreements to repurchase

429

138

231

494

608

62

42

233

134

38

52

98

10

3

19

9

38

18

33

37

22

9

19

35

15

3

14

13

9

11

12

28

28

15

18

28

27

27

31

Other borrowings

2,386

2,428

2,446

2,394

2,466

2,231

2,187

2,033

2,020

2,005

2,125

1,909

2,129

2,484

1,582

1,522

1,478

1,256

1,328

1,256

1,169

1,067

1,069

852

807

820

836

911

962

1,134

1,802

2,023

2,064

2,107

2,347

2,344

2,347

2,713

2,767

Interest Expense

13,678

14,288

15,944

15,650

14,571

12,228

10,658

8,767

7,909

7,082

6,620

5,791

5,473

5,504

4,487

3,935

3,721

2,936

2,825

2,639

2,474

2,378

2,344

2,130

2,085

2,172

2,368

2,484

2,633

3,068

3,840

4,190

4,348

4,690

4,937

5,179

5,305

6,324

6,666

NET INTEREST INCOME

49,899

49,548

48,682

49,198

48,606

44,206

43,624

43,493

42,236

42,379

42,115

41,421

39,323

38,179

38,518

35,102

33,850

30,119

29,334

28,669

28,518

28,850

28,452

28,419

27,845

27,973

27,487

25,146

23,936

24,164

23,655

23,748

23,946

24,057

24,351

24,421

24,584

24,990

24,929

Provision for loan losses

9,223

1,086

536

0

508

591

1,046

1,492

1,284

1,218

1,827

1,827

1,218

375

1,763

1,010

1,075

0

332

740

870

1,589

1,194

1,593

1,489

1,687

1,879

2,594

3,183

3,124

3,350

3,877

4,556

4,425

4,058

5,406

4,927

4,857

5,001

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES

40,676

48,462

48,146

49,198

48,098

43,615

42,578

42,001

40,952

41,161

40,288

39,594

38,105

37,804

36,755

34,092

32,775

30,119

29,002

27,929

27,648

27,261

27,258

26,826

26,356

26,286

25,608

22,552

20,753

21,040

20,305

19,871

19,390

19,632

20,293

19,015

19,657

20,133

19,928

NONINTEREST INCOME
Service charges on deposit accounts

2,500

3,026

2,851

2,755

2,573

2,814

2,614

2,545

2,611

2,814

2,797

2,674

2,455

2,577

2,615

2,523

2,442

2,620

2,614

2,450

2,340

2,612

2,689

2,663

2,559

2,785

2,838

2,692

2,522

2,590

2,757

2,710

2,447

2,590

2,623

2,571

2,478

2,678

2,500

Commissions and fees

1,640

1,548

1,545

1,725

1,412

1,446

1,414

1,410

1,272

1,309

1,258

1,135

1,156

1,089

1,182

1,099

979

1,081

984

1,196

1,307

1,168

1,371

1,082

1,013

1,090

1,139

1,143

1,213

1,090

1,162

1,259

980

916

915

1,040

832

965

833

Income on bank owned life insurance

665

636

691

690

683

743

1,127

711

719

850

624

500

426

437

1,303

414

408

475

455

388

699

363

365

365

360

374

383

340

313

309

357

339

339

353

356

359

355

376

385

Equity Securities, FV-NI, Realized Gain (Loss)

-653

-29

72

100

353

-199

-439

73

-18

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sales of loans

415

375

486

428

371

299

484

300

246

489

478

471

398

525

753

425

420

437

515

464

265

-

143

152

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt and Equity Securities, Gain (Loss)

342

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Sales of Investment Securities, Net

342

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,830

-

-

-

-

-

-

-

-

1,197

-

-

0

-

-

-

-

-

-

-

-

Gains on sales of investment securities, net

-

-

-

-

-

-

-

-

-

0

0

-15

2,539

0

0

0

370

-

173

17

-

0

0

0

2

333

0

1

505

776

0

241

32

-

785

444

-

1,681

-

Swap income

2,843

-

-

-

199

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on leasing related assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

117

230

463

312

555

Other income

259

-644

1,055

691

132

-1,423

439

670

504

-622

297

1,346

1,120

533

564

424

248

114

116

443

127

48

241

109

139

130

285

420

498

672

364

222

259

1,033

299

66

102

77

280

Total Noninterest Income

8,011

7,984

6,700

6,389

5,723

5,628

5,639

5,709

5,334

5,776

5,454

6,111

8,094

5,161

6,417

4,885

4,867

4,778

6,687

4,958

4,738

4,469

4,809

4,371

4,073

5,472

4,645

5,793

5,051

5,437

4,640

4,771

4,057

4,082

5,095

4,710

4,230

6,089

4,553

NONINTEREST EXPENSE
Salaries and employee benefits

20,235

19,615

19,062

19,379

19,231

17,674

17,352

16,708

16,861

15,553

15,100

15,096

15,417

14,305

14,626

13,091

14,085

12,370

12,376

12,144

11,750

11,827

11,327

11,200

10,813

10,766

11,019

10,133

9,953

10,008

9,578

9,565

9,435

9,035

9,280

9,199

8,986

9,073

8,996

Net occupancy expense

2,836

2,679

2,767

2,629

2,954

2,498

2,316

2,603

2,738

2,573

2,327

2,507

2,836

2,534

2,372

2,341

2,688

2,068

2,067

2,273

2,548

2,190

2,017

2,041

2,617

2,153

2,060

1,887

1,974

1,958

1,807

1,636

1,688

1,680

1,692

1,602

1,911

1,594

1,636

Furniture and equipment

2,560

2,316

2,084

2,165

2,116

2,010

2,070

2,011

2,206

2,103

2,073

1,996

2,097

2,113

1,876

2,082

1,946

1,764

1,881

1,629

1,656

1,647

1,605

1,660

1,693

1,689

1,582

1,505

1,405

1,324

1,205

1,139

1,083

1,165

1,172

1,225

1,164

1,270

1,221

FDIC insurance expense

298

0

-420

401

450

383

400

400

425

404

430

425

318

262

715

681

590

563

474

531

518

518

489

511

501

509

436

556

513

543

519

546

555

612

636

595

947

937

964

Stationery, supplies and postage

399

385

366

401

447

395

371

443

416

378

404

572

443

456

412

416

443

392

395

377

365

347

368

334

354

396

348

368

370

336

388

355

336

338

298

395

365

360

386

Marketing expense

227

515

423

538

469

277

343

456

361

324

442

508

401

549

429

385

309

534

396

416

240

534

629

476

386

650

715

435

288

388

718

458

470

563

612

619

615

511

648

Data processing expense

1,253

1,113

1,248

1,225

1,327

1,084

1,083

976

466

497

441

502

553

394

518

459

520

392

359

438

335

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Telecommunications expense

444

492

480

478

493

448

438

462

421

451

380

372

404

342

479

386

424

374

371

358

345

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ATM and debit card expense

587

604

588

583

602

571

556

558

510

547

546

517

441

433

420

383

346

317

357

382

342

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of Intangible Assets

265

307

288

301

304

142

142

153

157

165

104

190

195

202

201

164

167

99

98

107

111

111

111

119

123

-

123

41

-

-

0

-

-

0

46

266

265

265

266

Collection expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

70

60

65

188

159

Legal expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

144

219

273

-

406

286

242

356

135

346

399

529

457

411

295

411

423

Other real estate and repossessed asset expense

12

33

29

108

86

46

45

21

46

73

67

4

37

83

-32

26

39

135

27

27

-8

69

50

100

15

9

-2

-2

19

10

13

38

38

-28

336

200

272

119

198

Long-term debt prepayment fee

356

-

-

-

0

-

-

-

-

0

0

0

2,828

-

-

-

-

-

2,407

-

-

-

-

-

-

683

0

0

526

-

0

-

-

-

800

-

-

1,835

-

Merger related expenses

0

-

0

318

2,860

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business Combination, Acquisition Related Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-3

1,697

685

1,721

-

330

-

-

-

-

-

-

7

744

1,452

631

-

0

-

-

-

-

-

-

-

-

Other expenses

3,032

3,482

2,648

3,160

2,645

2,671

2,677

2,783

2,530

2,781

2,535

2,677

2,500

3,099

2,293

2,616

2,146

2,312

2,294

2,513

1,840

-492

2,945

2,870

2,967

455

2,976

2,732

2,306

2,255

2,605

2,387

2,271

2,654

2,641

2,160

2,141

2,388

2,210

TOTAL NONINTEREST EXPENSE

32,504

31,523

29,563

31,686

33,984

28,663

27,793

27,574

27,137

25,849

24,849

25,366

28,470

24,772

26,006

23,715

25,424

22,142

23,832

21,195

20,042

20,178

19,685

19,530

19,742

20,714

20,407

19,393

18,227

17,960

16,968

16,470

16,275

16,353

18,040

16,732

17,026

18,951

17,107

Income before provision for income taxes

16,183

24,923

25,283

23,901

19,837

20,580

20,424

20,136

19,149

21,088

20,893

20,339

17,729

18,193

17,166

15,262

12,218

12,755

11,857

11,692

12,344

11,552

12,382

11,667

10,687

11,044

9,846

8,952

7,577

8,517

7,977

8,172

7,172

7,361

7,348

6,993

6,861

7,271

7,374

Provision for income taxes

3,791

6,208

6,409

6,444

4,211

5,030

3,666

4,298

3,894

7,913

7,170

6,969

5,417

6,240

5,839

5,132

4,110

4,291

4,032

3,830

4,014

3,613

4,136

3,886

3,524

3,703

3,229

3,049

2,469

2,688

2,488

2,719

2,201

2,245

2,242

2,135

2,090

2,399

2,621

Net Income (Loss) Attributable to Parent

12,392

18,715

18,874

17,457

15,626

15,550

16,758

15,838

15,255

13,175

13,723

13,370

12,312

11,953

11,327

10,130

8,108

8,464

7,825

7,862

8,330

7,939

8,246

7,781

7,163

7,341

6,617

5,903

5,108

5,829

5,489

5,453

4,971

5,116

5,106

4,858

4,771

4,872

4,753

Dividends on Preferred Stock and Accretion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

620

294

293

294

1,286

1,589

904

Net Income Available to Common Stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,829

5,489

5,453

4,351

4,822

4,813

4,564

3,485

3,283

3,849

Earnings Per Share [Abstract]
Earnings Per Share, Basic

0.24

0.37

0.37

0.34

0.31

0.32

0.35

0.33

0.32

0.27

0.29

0.28

0.26

0.27

0.25

0.24

0.20

0.22

0.20

0.21

0.22

0.21

0.22

0.20

0.19

0.18

0.18

0.18

0.17

0.16

0.20

0.20

0.16

0.18

0.18

0.17

0.13

0.13

0.15

Earnings Per Share, Diluted

0.24

0.36

0.37

0.34

0.31

0.32

0.35

0.33

0.32

0.26

0.29

0.28

0.26

0.26

0.25

0.24

0.20

0.22

0.20

0.21

0.22

0.21

0.22

0.20

0.19

0.18

0.18

0.18

0.17

0.16

0.20

0.20

0.16

0.18

0.18

0.17

0.13

0.13

0.15

Common Stock, Dividends, Per Share, Cash Paid

0.12

0.12

0.12

0.12

0.11

0.12

0.11

0.11

0.10

0.10

0.10

0.10

0.09

0.09

0.09

0.09

0.08

0.08

0.08

0.08

0.07

0.07

0.07

0.07

0.07

0.06

0.06

0.07

0.07

0.06

0.06

0.06

0.06

0.05

0.06

0.06

0.06

0.05

0.05