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Lakeland Bancorp: 3Q Earnings Snapshot

OAK RIDGE, N.J. (AP) _ Lakeland Bancorp Inc. (LBAI) on Thursday reported third-quarter net income of $16.8 million.

The Oak Ridge, New Jersey-based bank said it had earnings of 35 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 35 cents per share.

The bank holding company posted revenue of $59.9 million in the period. Its revenue net of interest expense was $49.3 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $50.4 million.

Lakeland Bancorp shares have declined 17 percent since the beginning of the year. The stock has declined 23 percent in the last 12 months.

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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