Lakeland Bancorp Q4 Profit Up

(RTTNews) - Lakeland Bancorp Inc. (LBAI) Thursday reported fourth-quarter profit of $7.3 million, up from $5.8 million in the same period last year.

Earnings available to common shareholders increased to $25.0 million or $0.75 per share from $21.1 million or $0.76 per share last year.

Adjusted earnings for the quarter were $27.0 million or $0.81 per share. On average, five analysts polled by Thomson Reuters expected the company to earn $0.21 per share for the quarter. Analysts' estimates typically exclude special items.

Net-interest income increased to $28.0 million from $24.2 million last year. Net-interest margin was 3.70 percent, compared to 3.67 percent last year. Non-interest income totaled $5.1 million, up from $4.7 million last year.