Lakeland Bancorp Announces Pricing of $150 Million Subordinated Debt Offering
Lakeland Bancorp, Inc. (LBAI)
Last lakeland bancorp, inc. earnings: 4/30 08:00 am
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US:NASDAQ Investor Relations:
lakelandbank.com/about/investor-relations
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Source: GlobeNewswire
OAK RIDGE, N.J., Sept. 08, 2021 (GLOBE NEWSWIRE) -- Lakeland Bancorp, Inc. (NASDAQ: LBAI) (“Lakeland” or the “Company”), the holding company for Lakeland Bank, today announced that it has priced an underwritten public offering of $150 million aggregate principal amount of its fixed-to-floating rate subordinated notes (the “Notes”) due 2031. The Notes will initially bear a fixed interest rate of 2.875% per year. Commencing on December 15, 2026, the interest rate on the Notes will reset quarterly to the three-month SOFR rate plus a spread of 220 basis points, payable quarterly in arrears. The offering is expected to close on September 15, 2021, subject to the satisfaction of customary closing conditions. The Company plans to use the net proceeds from the Notes offering for general corporate purposes, which may include refinancing activities, including redeeming all or a portion of the outstanding principal amount of its outstanding subordinated notes. Keefe, Bruyette & Woods, A Stife
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LBAI
News
- Lakeland Bancorp, Inc. (NASDAQ: LBAI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Lakeland Bancorp Announces Date for First Quarter EarningsGlobeNewswire
- The Fed is monitoring banks with both high commercial real estate exposure and uninsured deposits. These 60 banks are in the top quantile for both. [Business Insider]Business Insider
- Lakeland Bancorp, Inc. (NASDAQ: LBAI) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Lakeland Bancorp, Inc. (NASDAQ: LBAI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
LBAI
Earnings
- 1/25/24 - In-Line
LBAI
Sec Filings
- 4/12/24 - Form 8-K
- 3/29/24 - Form 8-K
- 3/29/24 - Form 10-K/A
- LBAI's page on the SEC website