Banks | Lakeland Bank

Lakeland Bank


Lakeland Bank is an FDIC insured institution headquartered at 2717 Route 23, Newfoundland, NJ 7435.
It was founded in 1969 and has approximately $10 billion in assets. Customers can open an account at one of its 61 branches.

Deposit Rates - March 23, 2023

CD RATES APY MIN
6 Mo CD
0.55% $10,000 Compare
6 Mo CD
0.55% $100,000 Compare
Special: 9 Mo CD
1.00% $500 Compare
12 Mo CD
0.17% $10,000 Compare
12 Mo CD
0.27% $100,000 Compare
Special: 13 Mo CD
0.95% $500 Compare
18 Mo CD
0.22% $10,000 Compare
18 Mo CD
0.22% $100,000 Compare
24 Mo CD
0.22% $10,000 Compare
24 Mo CD
0.22% $100,000 Compare
36 Mo CD
0.42% $10,000 Compare
36 Mo CD
0.42% $100,000 Compare
48 Mo CD
0.75% $10,000 Compare
48 Mo CD
0.75% $100,000 Compare
VARIABLE IRA RATES APY MIN
Var IRA
0.05% $1
INT CHECKING RATES APY MIN
Int Ckg
0.05% $2,500

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 19953
Date Established 1969
Assets $ 10.37 billion
Loans $ 7.50 billion
Deposits $ 8.72 billion
Capital $ 1,218.61 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 245.61 million
Interest-bearing balances $ 169.81 million
Total securities $ 2.03 billion
Federal funds sold and reverse repurchase $ 0.15 million
Net loans and leases $ 7.50 billion
Loan loss allowance $ 68.88 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 282.17 million
All other assets $ 321.96 million
     Total Assets $ 9.29 billion

LIABILITIES
Total deposits $ 8.72 billion
      Interest-bearing deposits $ 6.38 billion
      Deposits held in domestic offices $ 8.72 billion
      % insured (estimated) 50.57%
Federal funds purchased and repurchase agreements $ 357.79 million
Trading liabilities N.A.
Other borrowed funds $ 25.00 million
Subordinated debt N.A.
All other liabilities $ 140.21 millionn
      Total Liabilities $ 9.29 billion
      Shareholders’ Equity $ 1,081.38 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 259.36 million
Total Interest Expense $ 23.52 million
Net interest income $ 235.85 million
Provision for loan and lease losses $ 11.27 million
Total non interest income $ 22.34 million
Total non interest expense $ 142.40 million
Pre-tax Net Operating Income $ 63.85 million

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Branches

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Lakeland Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Lakeland Bank
    Bank
    NEW JERSEY
    $50,000
    6 Month
    0.55%
    1.90x (National Avg. - 0.29%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.55%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 275 193
    2 50,275 277 194
    3 50,552 278 195
    4 50,830 280 196
    5 51,109 281 197
    6 51,390 283 198
    7 51,673 284 199
    8 51,957 286 200
    9 52,243 287 201
    10 52,530 289 202
    11 52,819 291 203
    12 53,110 292 204
    13 53,402 294 206
    14 53,695 295 207
    15 53,991 297 208
    16 54,288 299 209
    17 54,586 300 210
    18 54,886 302 211
    19 55,188 304 212
    20 55,492 305 214
    TOTAL $5,797 $4,058
  • 2
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    60 Month
    4.10%
    5.06x (National Avg. - 0.81%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.10%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,050 1,435
    2 52,050 2,134 1,494
    3 54,184 2,222 1,555
    4 56,406 2,313 1,619
    5 58,718 2,407 1,685
    6 61,126 2,506 1,754
    7 63,632 2,609 1,826
    8 66,241 2,716 1,901
    9 68,957 2,827 1,979
    10 71,784 2,943 2,060
    11 74,727 3,064 2,145
    12 77,791 3,189 2,233
    13 80,980 3,320 2,324
    14 84,300 3,456 2,419
    15 87,757 3,598 2,519
    16 91,355 3,746 2,622
    17 95,100 3,899 2,729
    18 98,999 4,059 2,841
    19 103,058 4,225 2,958
    20 107,284 4,399 3,079
    TOTAL $61,682 $43,178
  • 3
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.76x (National Avg. - 0.55%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    12 Month
    4.50%
    10.25x (National Avg. - 0.44%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.50%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410


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