Lakeland Bank Mortgage Rates, Fees & Info
Newfoundland, NJLEI: 549300ZJ3ZL66QGSGO48
Tax ID: 22-1867508
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Bank Data
Overview
Lakeland Bank is a smaller bank specializing in Refi and Home Purchase loans. Lakeland Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include New York, Poughkeepsie, Philadelphia, Easton, and Allentown among others. Lakeland Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Lakeland Bank is typically an average fee lendor.Originations
1,732Origination Dollar Volume (All Markets)
$792,390,000Employee count
736Awards
Lakeland Bank - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Lakeland Bank's average 30 year fixed rate mortgage of loans were
2.76%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.39%.
Relative Fees
Lakeland Bank's average total fees for a 30 year fixed rate
mortgage are $4,548.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1,605 | $645,575,000 | $402,227 | $2,740 | 2.87% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 23 | $50,035,000 | $2,175,435 | $3,592 | 3.06% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 25 | $36,125,000 | $1,445,000 | $4,001 | 3.37% |
| Easton, MD (FHA|USDA|VA) | 1 | $16,235,000 | $16,235,000 | $0 | 4.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 40 | $14,450,000 | $361,250 | $2,685 | 3.10% |
| Athens, TN (FHA|USDA|VA) | 1 | $8,005,000 | $8,005,000 | $0 | 3.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $6,960,000 | $3,480,000 | $0 | 3.45% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 14 | $5,810,000 | $415,000 | $4,108 | 2.79% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $1,725,000 | $1,725,000 | $0 | 3.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,500,000 | $750,000 | $3,908 | 2.88% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 3.50% |
| Outside of Metro Areas | 2 | $970,000 | $485,000 | $0 | 3.13% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $4,685 | 3.63% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $5,198 | 3.06% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,084 | 2.81% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,250 | 2.75% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 2.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,908 | 3.38% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 3.24% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,588 | 2.75% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,744 | 2.75% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.50% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,299 | 3.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,149 | 2.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 2.50% |
Lakeland Bank's top markets include New York, Poughkeepsie, Philadelphia, Easton, and Allentown among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,725 | $790,235,000 | $458,107 | $2,733 | 2.89% |
| FHA | 7 | $2,155,000 | $307,857 | $9,942 | 2.75% |
For the 2021 period, Lakeland Bank's most frequently originated loan type of loans were Conventional, with 1,725 originations. Their 2nd most popular type is FHA, with 7 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 703 | $276,515,000 | $393,336 | $2,170 | 2.86% |
| Home Improvement | 401 | $102,595,000 | $255,848 | $58 | 2.79% |
| Home Purchase | 380 | $358,550,000 | $943,553 | $4,879 | 3.10% |
| Other | 125 | $14,625,000 | $117,000 | $205 | 2.67% |
| Cash Out Refi | 123 | $40,105,000 | $326,057 | $3,592 | 2.93% |
For the 2021, Lakeland Bank's most frequently cited loan purpose of loans were Refi, with 703 originations. The 2nd most popular reason of loans were Home Improvement, with 401 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 772 | $226,310,000 | $293,148 | $4,548 | 2.76% |
| Other | 387 | $297,235,000 | $768,049 | $163 | 2.74% |
| 15 Year | 242 | $52,600,000 | $217,355 | $1,877 | 2.80% |
| 10 Year | 187 | $180,115,000 | $963,182 | $584 | 3.48% |
| 20 Year | 98 | $18,060,000 | $184,286 | $825 | 3.20% |
| 5 Year | 33 | $6,865,000 | $208,030 | $0 | 3.26% |
| 1 Year | 11 | $4,875,000 | $443,182 | $0 | 4.89% |
| 3 Year | 2 | $6,330,000 | $3,165,000 | $0 | 3.45% |
For the 2021, Lakeland Bank's most frequently cited loan length of loans were 30 Year, with 772 originations. The 2nd most popular length of loans were Other, with 387 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 627 | $150,965,000 | $240,774 |
| $1k-2k | 170 | $74,680,000 | $439,294 |
| $2k-3k | 27 | $10,045,000 | $372,037 |
| $3k-4k | 12 | $6,660,000 | $555,000 |
| $5k+ | 12 | $9,580,000 | $798,333 |
$4,548 of loans were Lakeland Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 627 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 771 | $153,495,000 | $199,086 |
| 2.5-3% | 497 | $190,515,000 | $383,330 |
| 3-4% | 427 | $391,675,000 | $917,272 |
| 4-5% | 25 | $53,295,000 | $2,131,800 |
| 5-6% | 12 | $3,410,000 | $284,167 |
During 2021, Lakeland Bank's average interest rate of loans were 2.76%, while their most frequently originated rate bucket of loans were <2.5%, with 771 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 475 | $132,095,000 | $278,095 | $3,201 | 2.87% |
| $100k-200k | 424 | $59,210,000 | $139,646 | $1,657 | 2.76% |
| $100,000 or less | 421 | $23,175,000 | $55,048 | $173 | 2.77% |
| $400k-600k | 191 | $92,085,000 | $482,120 | $4,517 | 2.95% |
| $600k-1MM | 133 | $104,135,000 | $782,970 | $6,114 | 3.18% |
| $1MM+ | 88 | $381,690,000 | $4,337,386 | $8,513 | 3.52% |
2021 saw Lakeland Bank place emphasis on $200k-400k loans with 475 originations, totaling $132,095,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 408 | $103,670,000 | $254,093 | $2,768 | 2.77% |
| $100k-150k | 356 | $65,500,000 | $183,989 | $2,257 | 2.78% |
| $250k+ | 293 | $129,815,000 | $443,055 | $4,733 | 2.75% |
| $75k-100k | 228 | $37,970,000 | $166,535 | $2,197 | 2.80% |
| $50k-75k | 155 | $22,105,000 | $142,613 | $2,435 | 2.73% |
| $50k or less | 59 | $5,555,000 | $94,153 | $1,739 | 2.81% |
Lakeland Bank lent most frequently to those with incomes in the $150k-250k range, with 408 originations. The second most popular income band? $100k-150k, with 356 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 411 | $96,115,000 | $233,856 | $2,634 | 2.77% |
| 30-36% | 297 | $72,585,000 | $244,394 | $2,828 | 2.77% |
| <20% | 140 | $32,800,000 | $234,286 | $2,624 | 2.78% |
| 44% | 127 | $28,105,000 | $221,299 | $3,418 | 2.62% |
| 42% | 86 | $19,370,000 | $225,233 | $2,194 | 2.77% |
| 40% | 68 | $18,400,000 | $270,588 | $2,829 | 2.81% |
| 39% | 67 | $18,175,000 | $271,269 | $2,782 | 2.76% |
| 41% | 66 | $15,050,000 | $228,030 | $2,102 | 2.78% |
| 38% | 66 | $14,640,000 | $221,818 | $2,286 | 2.76% |
| 37% | 65 | $15,035,000 | $231,308 | $2,318 | 2.77% |
| 36% | 44 | $11,030,000 | $250,682 | $3,109 | 2.82% |
| 43% | 36 | $7,840,000 | $217,778 | $2,752 | 2.76% |
| 49% | 21 | $5,625,000 | $267,857 | $3,623 | 2.89% |
| 46% | 15 | $5,525,000 | $368,333 | $5,610 | 3.07% |
| 47% | 13 | $5,255,000 | $404,231 | $3,902 | 2.93% |
| 48% | 11 | $2,895,000 | $263,182 | $3,398 | 2.94% |
| 45% | 9 | $2,195,000 | $243,889 | $4,062 | 2.79% |
| >60% | 4 | $1,100,000 | $275,000 | $3,392 | 3.38% |
| 50-60% | 3 | $1,045,000 | $348,333 | $10,491 | 2.75% |
Lakeland Bank lent most frequently to those with DTI ratios of 20-30%, with 411 originations. The next most common DTI ratio? 30-36%, with 297 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 177 | $417,115,000 | $2,356,582 | $0 | 3.88% |
| White | 1,289 | $305,335,000 | $236,877 | $2,804 | 2.77% |
| Not provided | 168 | $34,780,000 | $207,024 | $1,552 | 2.76% |
| Asian | 61 | $26,415,000 | $433,033 | $4,293 | 2.83% |
| Black | 21 | $5,035,000 | $239,762 | $3,502 | 2.88% |
| Asian Indian | 5 | $1,695,000 | $339,000 | $4,843 | 2.75% |
| American Indian | 6 | $760,000 | $126,667 | $3,169 | 2.58% |
| Other Asian | 1 | $415,000 | $415,000 | $0 | 2.50% |
| Chinese | 1 | $395,000 | $395,000 | $0 | 2.50% |
| Korean | 1 | $275,000 | $275,000 | $2,652 | 2.75% |
| Filipino | 1 | $115,000 | $115,000 | $0 | 2.50% |
| Other Pacific Islander | 1 | $55,000 | $55,000 | $0 | 2.50% |
Approval Rates
Total approvals of all applications76.05%
Lakeland Bank has a below average approval rate.
Pick Rate
Approvals leading to origination84.37%
Lakeland Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,732 | $792,390,000 | $457,500 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,732 | $792,390,000 | $457,500 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 375 | $72,375,000 | $193,000 | $1,466 | 2.73% |
| 40-60% | 315 | $156,065,000 | $495,444 | $2,876 | 2.93% |
| 60-80% | 458 | $451,420,000 | $985,633 | $4,135 | 3.11% |
| 80-100% | 125 | $48,395,000 | $387,160 | $4,781 | 2.84% |
| Under 20% | 456 | $63,530,000 | $139,320 | $68 | 2.76% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Lakeland Bank | 25 Main Street Hackensack, NJ 7601 | Full Service B&M | $85,284 |
| Lakeland Bank | 11 Ackerman Avenue, Botany Plaza Shopping Center Clifton, NJ 7011 | Full Service B&M | $10,511 |
| Lakeland Bank | 11 Hampton House Road Newton, NJ 7860 | Full Service B&M | $273,276 |
| Lakeland Bank | 1410 Route 23 North Butler, NJ 7405 | Full Service B&M | $212,029 |
| Lakeland Bank | 143 Route 183 Stanhope, NJ 7874 | Full Service B&M | $73,523 |
| Lakeland Bank | 151 South Street Morristown, NJ 7960 | Full Service B&M | $118,931 |
| Lakeland Bank | 1527 Union Valley Road West Milford, NJ 7480 | Full Service B&M | $171,854 |
| Lakeland Bank | 155 Morristown Road Bernardsville, NJ 7924 | Full Service B&M | $123,607 |
| Lakeland Bank | 165 Kinderkamack Road Park Ridge, NJ 7656 | Full Service B&M | $83,129 |
| Lakeland Bank | 166 Changebridge Road Montville, NJ 7045 | Full Service B&M | $268,802 |
| Lakeland Bank | 21 Jefferson Avenue Westwood, NJ 7675 | Full Service B&M | $126,533 |
| Lakeland Bank | 2120 West County Line Road Jackson, NJ 8527 | Full Service B&M | $200,984 |
| Lakeland Bank | 231 Black Oak Ridge Road Wayne, NJ 7470 | Full Service B&M | $226,779 |
| Lakeland Bank | 64 Crescent Avenue Waldwick, NJ 7463 | Full Service B&M | $100,769 |
| Lakeland Bank | 650 Union Boulevard Totowa, NJ 7512 | Full Service B&M | $217,422 |
| Lakeland Bank | 652 Wyckoff Avenue Wyckoff, NJ 7481 | Full Service B&M | $249,781 |
| Lakeland Bank | 7 Town Center Drive Sparta, NJ 7871 | Full Service B&M | $248,615 |
| Lakeland Bank | 86-88 Main Street Little Falls, NJ 7424 | Full Service B&M | $460,094 |
| Lakeland Bank | 9 Polifly Road Hackensack, NJ 7601 | Full Service B&M | $82,202 |
| Lakeland Bank | One Cedar Crest Village Drive Pompton Plains, NJ 7444 | Full Service B&M | $45,280 |
| Lakeland Bank | Www.Lakelandbank.Com Oak Ridge, NJ 7438 | Full Service Cyber Office | $9,476 |
| Lakeland Bank | 1 East Passaic Street Rochelle Park, NJ 7662 | Full Service B&M | $206,712 |
| Lakeland Bank | 1 Woodland Commons Pompton Plains, NJ 7444 | Full Service B&M | $15,440 |
| Lakeland Bank | 103 Ringwood Avenue Wanaque, NJ 7465 | Full Service B&M | $104,670 |
| Lakeland Bank | 104 Route 37 East Toms River, NJ 8753 | Full Service B&M | $132,949 |
| Lakeland Bank | 106 East Main Street Mendham, NJ 7945 | Full Service B&M | $113,563 |
| Lakeland Bank | 417 Cedar Lane Teaneck, NJ 7666 | Full Service B&M | $126,846 |
| Lakeland Bank | 42 N. Dean Street Englewood, NJ 7631 | Full Service B&M | $44,222 |
| Lakeland Bank | 45 Skyline Drive Ringwood, NJ 7456 | Full Service B&M | $75,195 |
| Lakeland Bank | 455 Route 23 North Wantage, NJ 7461 | Full Service B&M | $130,939 |
| Lakeland Bank | 49-53 Bloomfield Avenue Caldwell, NJ 7006 | Full Service B&M | $190,583 |
| Lakeland Bank | 500 River Avenue Lakewood, NJ 8701 | Full Service B&M | $224,367 |
| Lakeland Bank | 510 Morris Avenue Summit, NJ 7901 | Full Service B&M | $55,958 |
| Lakeland Bank | 529 Route 515 Vernon, NJ 7462 | Full Service B&M | $149,999 |
| Lakeland Bank | 55 Broadway Denville, NJ 7834 | Full Service Retail | $80,384 |
| Lakeland Bank | 556 Route 32 Highland Mills, NY 10930 | Full Service B&M | $195,028 |
| Lakeland Bank | 5729 Berkshire Valley Road Oak Ridge, NJ 7438 | Full Service B&M | $157,367 |
| Lakeland Bank | 615 Us 206 Newton, NJ 7860 | Full Service B&M | $79,743 |
| Lakeland Bank | 25 Route 23 Franklin, NJ 7416 | Full Service B&M | $99,325 |
| Lakeland Bank | 265 Main Street Madison, NJ 7940 | Full Service B&M | $66,620 |
| Lakeland Bank | 2717 Route 23 South Newfoundland, NJ 7435 | Full Service B&M | $321,021 |
| Lakeland Bank | 28 Main Street Bloomingdale, NJ 7403 | Full Service B&M | $108,896 |
| Lakeland Bank | 3 Broad Street Branchville, NJ 7826 | Full Service B&M | $184,873 |
| Lakeland Bank | 321 W Main Street Boonton, NJ 7005 | Full Service B&M | $113,115 |
| Lakeland Bank | 325 Garden Street Carlstadt, NJ 7072 | Full Service B&M | $47,617 |
| Lakeland Bank | 350 North Main Street, Wharton Mall Wharton, NJ 7885 | Full Service B&M | $68,798 |
| Lakeland Bank | 356 Franklin Avenue Nutley, NJ 7110 | Full Service B&M | $83,140 |
| Lakeland Bank | 37 Route 15 Lafayette, NJ 7848 | Full Service B&M | $60,542 |
| Lakeland Bank | 395 Route 94 North Fredon Township, NJ 7860 | Full Service B&M | $119,138 |
For 2021, Lakeland Bank had 49 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $257,318 |
| Net interest income | $240,254 |
| Total noninterest income | $22,602 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $3,643 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $18,959 |
| Pre-tax net operating income | $134,494 |
| Securities gains (or losses, -) | $-276 |
| Income before extraordinary items | $100,479 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $100,479 |
| Minority interest net income | $0 |
| Net income | $100,479 |
| Sale, conversion, retirement of capital stock, net | $4,073 |
| Net operating income | $100,697 |
Lakeland Bank's gross interest income from loans was $257,318,000.
Lakeland Bank's net interest income from loans was $240,254,000.
Lakeland Bank's fee based income from loans was $3,643,000.
Lakeland Bank's net income from loans was $100,479,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $17,064 |
| Provision for credit losses | $-10,896 |
| Total noninterest expense | $139,258 |
| Salaries and employee benefits | $82,589 |
| Premises and equipment expense | $24,773 |
| Additional noninterest expense | $31,896 |
| Applicable income taxes | $33,739 |
| Net charge-offs | $2,162 |
| Cash dividends | $50,648 |
Lakeland Bank's interest expense for loans was $17,064,000.
Lakeland Bank's payroll and benefits expense were $82,589,000.
Lakeland Bank's property, plant and equipment expenses $24,773,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 1.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $7,006,531 |
| Deposits held in domestic offices | $7,006,531 |
| Deposits by Individuals, partnerships, and corporations | $5,440,257 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,561,058 |
| Deposits by Commercial banks and other depository institutions in U.S. | $5,216 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $600,758 |
| Demand deposits | $600,758 |
| Nontransaction accounts | $6,405,773 |
| Money market deposit accounts (MMDAs) | $4,969,443 |
| Other savings deposits (excluding MMDAs) | $677,101 |
| Total time deposits | $759,229 |
| Total time and savings deposits | $6,405,773 |
| Noninterest-bearing deposits | $1,787,706 |
| Interest-bearing deposits | $5,218,825 |
| Retail deposits | $6,756,410 |
| IRAs and Keogh plan accounts | $96,602 |
| Brokered deposits | $114,286 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $8,195,337 |
| Cash & Balances due from depository institutions | $228,384 |
| Interest-bearing balances | $184,228 |
| Total securities | $1,612,280 |
| Federal funds sold & reverse repurchase | $148 |
| Net loans and leases | $5,920,044 |
| Loan and leases loss allowance | $58,047 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $61,138 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $158,621 |
| All other assets | $214,722 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $8,195,337 |
| Total Liabilities | $7,242,069 |
| Total deposits | $7,006,531 |
| Interest-bearing deposits | $5,218,825 |
| Deposits held in domestic offices | $7,006,531 |
| % insured (estimated) | $54 |
| Federal funds purchased and repurchase agreements | $106,453 |
| Trading liabilities | $0 |
| Other borrowed funds | $25,000 |
| Subordinated debt | $0 |
| All other liabilities | $104,085 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $5,920,044 |
| Loan and leases loss allowance | $58,047 |
| Total loans and leases (domestic) | $5,978,091 |
| All real estate loans | $5,386,954 |
| Real estate loans in domestic offices | $5,386,954 |
| Construction and development loans | $302,228 |
| Residential 1-4 family construction | $59,862 |
| Other construction, all land development and other land | $242,366 |
| Loans secured by nonfarm nonresidential properties | $3,213,172 |
| Nonfarm nonresidential secured by owner-occupied properties | $896,819 |
| Commercial real estate & other non-farm, non-residential | $2,316,353 |
| Multifamily residential real estate | $972,233 |
| 1-4 family residential loans | $887,816 |
| Farmland loans | $11,505 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $453,565 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,725 |
| Credit card loans | $0 |
| Related Plans | $522 |
| Consumer Auto Loans | $2,041 |
| Other loans to individuals | $3,162 |
| All other loans & leases | $131,847 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $8,635 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $10,299 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $3,191 |
| Non 1-4 family restructured loans & leases | $2,942 |
| Total loans and leases (foreign) | $0 |
Lakeland Bank had $5,920,044,000 of loans outstanding in 2021. $5,386,954,000 of loans were in real estate loans. $302,228,000 of loans were in development loans. $972,233,000 of loans were in multifamily mortgage loans. $887,816,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,041,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 1,267 | $433,794 | $342,379 |
| Nonfarm, nonresidential loans - <$100k | 107 | $4,406 | $41,178 |
| Nonfarm, nonresidential loans - $100-250k | 267 | $33,925 | $127,060 |
| Nonfarm, nonresidential loans - $250k-1MM | 893 | $395,463 | $442,848 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,248 | $117,111 | $93,839 |
| Commercial & Industrial, US addressed loans - <$100k | 771 | $22,863 | $29,654 |
| Commercial & Industrial, US addressed loans - $100-250k | 256 | $30,914 | $120,758 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 221 | $63,334 | $286,579 |
| Farmland loans - <$1MM | 5 | $645 | $129,000 |
| Farmland loans - $100-250k | 4 | $435 | $108,750 |
| Farmland loans - $250k-1MM | 1 | $210 | $210,000 |
