Lakeland Bancorp Reports Strong First Quarter Performance with Net Income of $19.8 Million

Lakeland Bancorp, Inc.(LBAI), and its subsidiaries have re ported impressive financial results for the first quarter of 2023. The unaudited consolidated financial statements indicate a notable increase in net income and revenue, showcasing the bank's resilience and successful strategies amid a challenging economic environment.

Lakeland Bancorp Reports Strong First Quarter Performance with Net Income of $19.8 Million

Lakeland Bancorp demonstrated its financial strength and resilience, recording a net income of $19.8 million for the first quarter of 2023. This figure represents a significant growth compared to the same period last year when the bank reported a net income of $15.9 million. The substantial increase in net income reflects the bank's ability to manage risks effectively and capitalize on various revenue-generating opportunities.

Lakeland Bancorp Achieves Robust Revenue Growth, Recording $114.4 Million in Total Interest Income