Lakeland Bancorp, Inc. Announces Management Transitions
January 03 2017 - 03:08PM
Lakeland Bancorp, Inc. (NASDAQ:LBAI) (“Lakeland Bancorp” or the
“Company”), the parent company of Lakeland Bank, announced several
management team transitions, in line with the Company’s long-term
succession planning process.
Stewart E. McClure, Jr. is retiring as of
December 31, 2016. Mr. McClure had served as Senior Executive
Vice President of the Company and Regional President of the Bank
since 2013, after the Company’s acquisition of Somerset Hills
Bancorp and Somerset Hills Bank, where Mr. McClure had served as
President and CEO.
As of January 1, 2017, Robert A. Vandenbergh
will continue to serve as Senior Executive Vice President of the
Company and Regional President of the Bank, and will transition his
role of Chief Operating Officer of the Company to Ronald E.
Schwarz, Senior Executive Vice President and Chief Revenue Officer
of the Company and the Bank.
Joseph F. Hurley, Executive Vice President and
Chief Financial Officer of the Company and the Bank, is expected to
retire in July 2017, and Thomas F. Splaine, Jr., First Senior Vice
President and Chief Accounting Officer of the Company and the Bank,
is expected to assume the position of Chief Financial Officer upon
completion and filing of the Company’s 2016 Annual Report on Form
10-K in March 2017.
About the Company
As of September 30, 2016, the Company had
consolidated total assets of $4.90 billion, total loans and leases
of $3.79 billion, deposits of $3.94 billion and stockholders’
equity of $498.7 million. Lakeland Bank currently
operates 52 New Jersey branch offices in Bergen, Essex, Morris,
Ocean, Passaic, Somerset, Sussex and Union counties; six New Jersey
regional commercial lending centers in Bernardsville, Jackson,
Montville, Newton, Teaneck and 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.
Forward-Looking StatementsThis
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
Lakeland Bancorp (NASDAQ:LBAI)
Historical Stock Chart
From Feb 2024 to Mar 2024
Lakeland Bancorp (NASDAQ:LBAI)
Historical Stock Chart
From Mar 2023 to Mar 2024