Pascack Bancorp Shareholders Approve Merger With Lakeland Bancorp; Parties Announce Anticipated Closing Date
December 14 2015 - 9:45AM
The Boards of Directors of Lakeland Bancorp, Inc. (NASDAQ:LBAI)
(“Lakeland Bancorp”), the parent company of Lakeland Bank, and
Pascack Bancorp, Inc. (OTCQX:PSBR) (“Pascack Bancorp”), the parent
company of Pascack Community Bank, announced today that the
shareholders of Pascack Bancorp have approved the merger of Pascack
Bancorp with and into Lakeland Bancorp (the “Merger”).
Approval of the Merger by Lakeland Bancorp’s shareholders was not
required.
The parties also announced that they intend to close the Merger
and the merger of their respective bank subsidiaries on or about
January 7, 2016. All bank regulatory approvals have been
obtained.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities. In connection
with the proposed mergers, Lakeland Bancorp filed a registration
statement with the Securities and Exchange Commission, which was
declared effective. The proxy statement and prospectus
contained in the registration statement was mailed to shareholders
of Pascack Bancorp. On December 14, 2015, the Merger was
approved by Pascack Bancorp’s shareholders. INVESTORS
AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND
PROSPECTUS BECAUSE IT CONTAINS IMPORTANT INFORMATION.
Investors and security holders may obtain a free copy of the
registration statement and other documents filed by Lakeland
Bancorp with the Commission at the Commission’s web site at
www.sec.gov. These documents may be accessed and downloaded
for free at Lakeland Bancorp’s website at
www.lakelandbank.com or by directing a request to Investor
Relations, Lakeland Bancorp, Inc., 250 Oak Ridge Road, Oak Ridge,
NJ 07438 (973-697-2000). Requests for the proxy
statement and prospectus may also be made to Investor Relations,
Pascack Bancorp, Inc., 64 Crescent Avenue, Waldwick New Jersey
07463 (201-345-9348).
Forward Looking Statements
This communication contains forward-looking statements with
respect to the proposed mergers and the timing of consummation of
the mergers that are made in reliance upon the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. The words “anticipates”, “projects”, “intends”,
“estimates”, “expects”, “believes”, “plans”, “may”, “will”,
“should”, “could” and other similar expressions are intended to
identify such forward looking statements. These
forward-looking statements speak only as of the date made, and are
subject to numerous assumptions, risks and uncertainties, all of
which may change over time. Actual results could differ
materially from such forward-looking statements. Neither
Lakeland Bancorp nor Pascack Bancorp assumes any obligation for
updating any such forward-looking statements at any time.
Lakeland Bancorp, Inc.:
Thomas J. Shara
President & CEO
Joseph F. Hurley
EVP & CFO
973-697-2000
Pascack Bancorp, Inc.:
Nancy E. Graves
President & CEO
201-345-9348
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