Lakeland Bank

Headquarters

2717 Route 23 South
Newfoundland, NJ 07435
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.20% →
1-Year CD 0.27% 1.10% →
2-Year CD 0.22% 1.15% →
5-Year CD N.A. 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Lakeland Bank is an FDIC insured institution located in Newfoundland, NJ. It was founded in 1969 and has approximately $7.01 billion in assets. Customers can open an account at one of its 61 branches.

FDIC Insured Yes
FDIC Certificate # 19953
Date Established 1969
Assets $ 7.01 billion
Loans $ 5.28 billion
Deposits $ 5.49 billion
Capital $ 813.02 million
 

For a more detailed analysis of Lakeland Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - August 6, 2020

Your Current Location: Virginia, VA 20146

CD Rates APY MIN MAX
3 Mo CD
0.03% $10,000 $14,999 Learn More
3 Mo CD
0.03% $100,000 $199,999 Learn More
6 Mo CD
0.55% $10,000 $14,999 Learn More
6 Mo CD
0.55% $100,000 $199,999 Learn More
Special: 9 Mo CD
1.00% $500 $250,000 Learn More
12 Mo CD
0.17% $10,000 $14,999 Learn More
12 Mo CD
0.27% $100,000 $199,999 Learn More
Special: 13 Mo CD
0.95% $500 $250,000 Learn More
18 Mo CD
0.22% $10,000 $14,999 Learn More
18 Mo CD
0.22% $100,000 $199,999 Learn More
24 Mo CD
0.22% $10,000 $14,999 Learn More
24 Mo CD
0.22% $100,000 $199,999 Learn More
36 Mo CD
0.42% $10,000 $14,999 Learn More
36 Mo CD
0.42% $100,000 $199,999 Learn More
48 Mo CD
0.75% $10,000 $14,999 Learn More
48 Mo CD
0.75% $100,000 $199,999 Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.05% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
Checking Rates APY MIN FEE
Elite Checking 0.00% $0 $7.00 Learn MoreShow Less
Platinum Checking 0.00% $15,000 $25.00 Learn MoreShow Less
Classic Checking 0.00% $250 $6.00 Learn MoreShow Less

Loan Rates - August 6, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 3.50% 3.50% $732.55
4 Year 3.50% 3.50% $558.90
5 Year 3.74% 3.74% $457.49

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Lakeland Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Lakeland Bank Locations


Financial Details

Lakeland Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Lakeland Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Lakeland Bank U.S. Bank Average
4.13% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Lakeland Bank had $35,165,000 in non-current loans and $393,000 in owned real estate. To cover these potential losses it had $813,024,000 in equity and $48,884,000 in loans loss reserves. That gives it a Texas Ratio of 4.13%.

Return on Equity
Lakeland Bank U.S. Bank Average
7.24% 7.80%

Lakeland Bank has a Return on Equity of 7.24% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Lakeland Bank U.S. Bank Average
11.6% 12.68%

Lakeland Bank has a Capitalization of 11.6% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Lakeland Bank Balance Sheet Analysis

As of March 31, 2020, Lakeland Bank had assets of $7,009,565,000, loans of $5,282,837,000, and deposits of $5,486,752,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 285.34 million
Interest-bearing balances $ 245.67 million
Total securities $ 943.83 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 5.28 billion
Loan loss allowance $ 48.88 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.39 million
Goodwill and other intangibles $ 160.15 million
All other assets $ 271.78 million
     Total Assets $ 6.20 billion
LIABILITIES
Total deposits $ 5.49 billion
      Interest-bearing deposits $ 4.31 billion
      Deposits held in domestic offices $ 5.49 billion
      % insured (estimated) 54.45%
Federal funds purchased and repurchase agreements $ 59.09 million
Trading liabilities N.A.
Other borrowed funds $ 500.71 million
Subordinated debt N.A.
All other liabilities $ 149.99 million
      Total Liabilities $ 6.20 billion
      Shareholders’ Equity $ 813.02 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 63.55 million
Total Interest Expense $ 12.19 million
Net interest income $ 51.36 million
Provision for loan and lease losses $ 9.22 million
Total non interest income $ 8.31 million
Total non interest expense $ 32.40 million
Pre-tax Net Operating Income $ 18.05 million

Bank Loan Profile?

The top three loan types in Lakeland Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Multifamily Mortgages.

Compared to other banks in New Jersey, Lakeland Bank has a significantly higher percent of Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 16.78
Multifamily
Mortgages
11.96
Credit Card Loans 0.00
Consumer Auto Loans 0.06
Small Business Loans 9.36
Construction and Development Loans 6.29
Commercial Real Estate 54.53
Commercial and Industrial Loans 8.60
Farm Loans 0.00

Frequently Asked Questions About Lakeland Bank

Branches and Savings

Is Lakeland Bank FDIC insured?

Yes. It is covered under FDIC Certificate #19953.

Why does Lakeland Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Lakeland Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Lakeland Bank a commercial bank?

Yes

Where are Lakeland Bank locations?

See branch locations nearby.

Is Lakeland Bank open on Saturdays?

Is Lakeland Bank open on Sundays?

What time does Lakeland Bank open?

What time does Lakeland Bank close?

Are Lakeland Bank ATMs Open 24/7?

Do Lakeland Bank ATMs accept cash deposits?

Can Lakeland Bank customers use other ATMs?

Do Lakeland Bank branches have notaries?

Will Lakeland Bank notarize my document?

What address for Lakeland Bank should I put for incoming ACH transfers?

Will the Lakeland Bank branch print checks?

Do Lakeland Bank checks expire?

Does Lakeland Bank require US citizenship to open account?

Can Lakeland Bank close my account?

Does Lakeland Bank Report to credit bureaus?

Does Lakeland Bank Use Equifax?

What is Lakeland Bank's ACH Routing Number?

What is Lakeland Bank's SWIFT code?

Products

Does Lakeland Bank offer mortgages?

Compare mortgage rates here.

Does Lakeland Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Lakeland Bank offer personal loans?

Compare personal loan rates here.

Does Lakeland Bank offer student loans?

Will Lakeland Bank cash a check?

Will Lakeland Bank redeem a savings bond?

Does Lakeland Bank cash savings bonds?

Will Lakeland Bank cash money orders?

Can Lakeland Bank issue a money order?

Does Lakeland Bank do currency exchange?

Background on The Bank

Who owns Lakeland Bank?

How long has Lakeland Bank been around?

Can Lakeland Bank transfer to other banks?

Does Lakeland Bank have quick pay?

Does Lakeland Bank accept rolled coins?

Will Lakeland Bank accept loose change?

Where is Lakeland Bank headquarters?

Customer Reviews for Lakeland Bank


  • June 09, 2015

    Is check #906849 good

  • June 09, 2015

    Check number 907849

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