Lakeland Bank Celebrates 40th Anniversary
May 27, 2009
Oak Ridge, NJ - May 27, 2009 – Lakeland Bank was formed in 1969 in Newfoundland, NJ. Since its inception, the bank has grown and prospered as it has continued to provide customer focused financial services to the communities of Northern, NJ. The directors and officers of Lakeland Bank have provided strong and effective leadership from the banks inception. Throughout the distinguished history of Lakeland Bank, the management and staff have provided to their customers and neighbors, a solid capital base, stable market share, dedication to service and innovative products and potential for excellent long-term growth and return on shareholder investments.
Today Lakeland Bank, still primarily owned by local people, is providing financial service to 48 markets throughout six counties in Northern, NJ and is one of the largest employers in the area.
The bank was started by three local businessmen; John Fredericks (Fredericks Fuel & Heating Service), Robert Nicholson (Eastern Propane), and Bruce Bohuny (Brooks LTD), who saw the great public need for a bank to service the Milton section of Jefferson and the Newfoundland, Oak Ridge section of West Milford. Over the past 40 years, Lakeland Bank has grown to $2.6 billion in assets, has over 600 employees and still operates under the same basic community banking principles and philosophies that have made the past four decades profitable and safe for depositors and investors.
“Did you know Lakeland Bank is credited for introducing Saturday banking and drive-in banking to Northern, NJ?” said John Fredericks, Chairman of the Board of Lakeland Bank. “Within a few years other area banks began offering these innovations pioneered by Lakeland.”
Today Lakeland Bank prides itself on its differentiating factors – outstanding customer service, innovative products and local decision-making. “Having grown with our customers and communities, Lakeland offers comprehensive products and services which develop and evolve based on our primary goal – to meet the customers’ needs. It is the focus and teamwork towards that goal that allows Lakeland Bank to make a difference for every customer we serve” said Thomas J. Shara, President and CEO of Lakeland Bank.
“At Lakeland Bank our mission is simply stated; we will remain a community focused financial institution committed to providing shareholders with returns that consistently exceed those of our peers. We will provide a challenging, yet rewarding environment for our employees who will foster the delivery of superior customer service that exceeds customer expectations by understanding and anticipating their financial needs each and every time we interact with them” he noted.
“We will continue to carry out this mission with the vision of Lakeland’s founders, current directors, officers and employees and continue to focus on our customers and communities who make it all possible for a bright future” said Shara.
Lakeland Bancorp, the holding company for Lakeland Bank, has a current asset base of $2.6 billion and forty-eight (48) offices spanning six northwestern New Jersey counties: Bergen, Essex, Morris, Passaic, Sussex and Warren. Lakeland Bank, headquartered at 250 Oak Ridge Road, Oak Ridge, offers an extensive array of consumer and commercial products and services, including online banking, localized commercial lending teams, equipment leasing, and 24-hour or less turnaround time on consumer loan applications. For more information about their full line of products and services, visit their website at www.lakelandbank.com.