NJBIZ issues its 2020 ranking of the fastest growing companies in New Jersey
Oak Ridge, N.J. – Dec. 17, 2020 – Lakeland Bank is pleased to announce that it has been named for the fourth consecutive year to the New Jersey 50 Fastest Growing Companies list and was ranked 27th. The 2020 NJBIZ 50 Fastest Growing Companies program recognizes companies which progressively contribute to the success of the state's economic growth and stability.
“A few years ago, it was evident that in order for Lakeland to maintain its position as one of the leading financial institutions in the State and continue to expand we would need to develop and fortify a strategy that would ensure our ability to meet the sea change of digital technology looming on the horizon,” said Thomas Shara, President and CEO. “Having that plan in place has not only been a factor in being named to the FAST50 list for the fourth consecutive year, but our Digital Strategy has also been crucial in Lakeland’s adeptness to meet the needs of our customers and associates during the challenges of 2020.”
To qualify for the 2020 NJBIZ 50 Fastest Growing Companies award, companies had to meet selection criteria that included a revenue size of at least $500,000 within the past two out of three years and growth in revenue over a three year period, dating from fiscal year 2017 to 2019. Mazars USA LLP calculated the nominations and ranked the companies according to revenue growth over the three year period. Both dollar and percentage increases were taken into consideration.
NJBIZ and the program sponsors honored this year’s fifty fastest growing companies and announced their rankings during a virtual awards ceremony on December 16. The Fast 50 companies will be highlighted in a special supplemental insert in an upcoming NJBIZ issue. For more information about the NJBIZ 50 Fastest Growing Companies awards program, visit www.njbiz.com/events.
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $7 billion in total assets. With an extensive branch network and commercial lending centers throughout New Jersey and Highland Mills, N.Y., the Bank offers business and retail banking products and services. Business services include commercial loans and lines of credit, commercial real estate loans, loans for healthcare services, asset based lending, equipment financing, small business loans and lines, and cash management services. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions. Lakeland is proud to be recognized as a Best-In-State Bank by Forbes and Statista, rated a 5-Star Bank by Bauer Financial and named one of New Jersey’s 50 Fastest Growing Companies by NJBIZ. Visit LakelandBank.com for more information.