The Bank Slate


Provident, Lakeland in NJ extend deadline to complete merger

Provident Financial Services in Iselin, N.J., and Lakeland Bancorp in Oak Ridge, N.J., have extended the deadline for their merger agreement to give regulators more time to approve the deal.

The $14.1 billion-asset Provident agreed in September 2022 to buy the $11.2 billion-asset Lakeland for $1.3 billion. The deal was initially expected to close by mid-2023.

The companies, which remain committed to the merger, said in a press release that the merger agreement is now set to expire on March 31, unless they agree to another extension.

Leave a Reply

Your email address will not be published. Required fields are marked *