LBAI Repaid 51% Of Remaining TARP Capital, KBW Reports

Lakeland Bancorp Inc. LBAI announced intraday that it has repaid $20 million or 51% of its remaining TARP capital, KBW reports.

“This comes as the company's second partial repayment of TARP without issuing shares with the first coming in 3Q10 of equal amount,” KBW writes. “The payment does not come as a surprise to us, as Lakeland has stated its intention of repaying TARP capital incrementally with a focus on maximizing shareholder value.”

Lakeland Bancorp closed Wednesday at $9.50.