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Lakeland Bancorp: 1Q Earnings Snapshot

OAK RIDGE, N.J. (AP) _ Lakeland Bancorp Inc. (LBAI) on Monday reported first-quarter net income of $15.6 million.

The Oak Ridge, New Jersey-based bank said it had earnings of 31 cents per share.

The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 31 cents per share.

The bank holding company posted revenue of $68.9 million in the period. Its revenue net of interest expense was $54.3 million, topping Street forecasts. Three analysts surveyed by Zacks expected $53.7 million.

Lakeland Bancorp shares have risen roughly 4% since the beginning of the year. The stock has dropped 23% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LBAI at https://www.zacks.com/ap/LBAI