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Kroll affirms Lakeland Bancorp debt ratings

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Kroll affirms Lakeland Bancorp debt ratings

Kroll Bond Rating Agency on Aug. 9 affirmed Oak Ridge, N.J.-based Lakeland Bancorp Inc.'s BBB senior unsecured debt rating, BBB- subordinated debt rating and K3 short-term debt rating.

It also affirmed subsidiary Lakeland Bank's deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB and short-term deposit and debt ratings of K2.

The outlook for all long-term ratings is "stable."

Kroll's affirmation reflects the company's solid deposit franchise, improving earnings results, sustained strength of asset quality, developing risk management structure and measured approach to growth.