Oak Ridge, N.J. – April 28, 2014 – Thomas J. Shara, president and CEO of Lakeland Bancorp, has announced that Lakeland Bancorp has been recognized by Forbes as one of “America’s 50 Most Trustworthy Financial Companies.” Lakeland Bancorp (LBAI) ranked 25th in the ‘Small Cap’ category ($250 million to $1 billion).
Forbes released the list April 1, 2014 which is based on data from proprietary ratings provider and investment advisor GMI Ratings. According to James Kaplan, director of GMI Ratings, “the measures taken in the wake of the financial crisis have led a high number of financial institutions to rank among the most trustworthy in America.” This data led him to generate a list specifically for publicly-traded North American bank and insurance companies. To develop the list, GMI reviews the accounting and governance behaviors of publicly-traded companies and assesses each company by factors including high-risk events, revenue and expense recognition methods, SEC actions, and bankruptcy risk as indicators of a company’s credibility.
“It is truly gratifying to be recognized by Forbes as one the most trustworthy banks in America,” said Shara. “The Bank’s founding fathers built an institution steeped in the philosophy that success would only come from conducting business clearly and honestly, and I am proud and honored to work with a Board of Directors and colleagues who hold themselves and our company to the utmost standards of integrity and esteem. Lakeland Bank’s core values are not just words on a poster, they are the fundamental reason we succeed at serving our shareholders, customers, the community, and our colleagues.”
Link to the online Forbes article: http://www.forbes.com/sites/kathryndill/2014/04/01/americas-50-most-trustworthy-financial-companies/
About Lakeland Bank
Lakeland Bancorp, the holding company for Lakeland Bank, has $3.3 billion in total assets with 52 offices spanning eight northern New Jersey counties: Bergen, Essex, Morris, Passaic, Somerset, Sussex, Union and Warren. Lakeland Bank, headquartered in Oak Ridge, offers an extensive array of consumer and commercial products and services, including online and mobile banking, localized commercial lending teams, an expanded residential mortgage lending platform and 24-hour-or-less turnaround on consumer loan applications. For more information about the full line of products and services, visit LakelandBank.com.