M&A Deal Summary

Lakeland Bank Acquires 1st Constitution Bank

On July 12, 2021, Lakeland Bank acquired financial services company 1st Constitution Bank for 244M USD

Acquisition Highlights
  • This is Lakeland Bank’s 4th transaction in the Financial Services sector.
  • This is Lakeland Bank’s largest (disclosed) transaction.
  • This is Lakeland Bank’s 4th transaction in the United States.
  • This is Lakeland Bank’s 4th transaction in New Jersey.

M&A Deal Summary
Date 2021-07-12
Target 1st Constitution Bank
Sector Financial Services
Buyer(s) Lakeland Bank
Deal Type Add-on Acquisition
Deal Value 244M USD
Advisor(s) Raymond James - Investment Banking (Financial)
Day Pitney (Legal)

Target

1st Constitution Bank

Cranbury, New Jersey, United States
website
1st Constitution Bank delivers a fundamental approach to small business banking, commercial and residential mortgage origination and retail banking focused on personal service, technological support, and innovative customer-centered products. 1st Constitution Bank was formed in 1989 and is based in Cranbury, New Jersey.

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Buyer(S) 1

Buyer

Lakeland Bank

Oak Ridge, New Jersey, United States

website

Category Company
Founded 1989
Sector Financial Services
Employees860
Revenue 338M USD (2022)
DESCRIPTION

Lakeland Bank is a holding company for Lakeland Bank offers an extensive array of consumer and commercial financial products and services, including online and mobile banking, localized commercial lending teams, an expanded residential mortgage lending platform and 24-hour-or-less turnaround on consumer loan applications. Lakeland Bank was founded in 1969 and is based in Oak Ridge, New Jersey.

DEAL STATS #
Overall 4 of 4
Sector (Financial Services) 4 of 4
Type (Add-on Acquisition) 2 of 2
State (New Jersey) 4 of 4
Country (United States) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-18 Harmony Bank

Lakewood, New Jersey, United States

Harmony Bank is a state-chartered commercial bank that focuses on serving consumers and small-to-medium-size businesses.

Buy $32M
Mergr

Product

Company

Legal