Latest Somerset Hills Bancorp (SOMH) Headlines
Research and Markets: Consumer Magazines Market Report Plus 2014
Business Wire - Fri Jan 31, 4:28AM CST
Research and Markets (http://www.researchandmarkets.com/research/cc9b4m/consumer) has announced the addition of the "Consumer Magazines Market Report Plus 2014" report to their offering.
Windstream Receives 2013 ShoreTel Circle of Excellence Award
GlobeNewswire - Thu Jan 30, 12:04PM CST
Windstream (Nasdaq:WIN), a leading provider of advanced network communications, announced today that it has received ShoreTel's Circle of Excellence Award for the 2013 partner year. The award recognizes Windstream for exceptional achievement in areas including customer satisfaction, revenue growth and proficiency with advanced applications. ShoreTel, Inc. is the leading provider of brilliantly simple phone systems and unified communications solutions.
Nielsen: Global Consumer Confidence Holds Steady to Close 2013, While Spending Intentions Retreat to Q4 2012 Levels
Business Wire - Tue Jan 28, 11:01PM CST
Global consumer confidence held steady at 94 for three consecutive quarters, ending 2013 one point higher than it started (Q1 2013) and three points higher than the same time period the previous year (Q4 2012), according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy.
Lakeland Bancorp Reports Third Quarter Results and Increases Cash Dividend by 7%
GlobeNewswire - Thu Oct 24, 7:19AM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) reported Net Income Available to Common Shareholders in the third quarter of 2013 of $6.6 million or $0.18 per diluted share compared to $5.5 million, or $0.20 per diluted share for the same period last year. Third quarter results included $744,000, or $0.02 per diluted share, in merger expenses relating to the acquisition of Somerset Hills Bancorp, which took place in the second quarter of 2013. Net Income Available to Common Shareholders for the first nine months of 2013 was $17.6 million or $0.54 per diluted share compared to $15.3 million, or $0.56 per diluted share for the same period last year. Excluding merger costs, Net Income Available to Common Shareholders was $19.8 million or $0.61 per diluted share for the first nine months of 2013.The Return on Average Assets for the nine months ended September 30, 2013 was 0.78%, the Return on Average Common Equity was 7.59% and the Return on Tangible Common Equity was 11.12%.
Lakeland Bancorp Reports Strong Second Quarter Results and Announces Gain on Early Extinguishment of Debt
GlobeNewswire - Thu Jul 25, 7:32AM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) reported Net Income Available to Common Shareholders in the second quarter of 2013 of $5.9 million or $0.19 per diluted share compared to $5.5 million, or $0.20 per diluted share for the same period last year. Second quarter results included $1.5 million in merger expenses relating to the acquisition of Somerset Hills Bancorp. Excluding merger expenses, Net Income Available to Common Shareholders was $6.9 million, or $0.22 per diluted share. Second quarter results also included a $1.2 million pre-tax gain on the purchase and early extinguishment of $9.0 million of trust preferred securities previously issued. Net Income Available to Common Shareholders for the first six months of 2013 was $11.0 million or $0.36 per diluted share compared to $9.8 million, or $0.36 per diluted share for the same period last year. Excluding merger costs, Net Income Available to Common Shareholders was $12.6 million or $0.41 per diluted share for the first six months of 2013. The Return on Average Assets for the six months ended June 30, 2013 was 0.76%, the Return on Average Common Equity was 7.55% and the Return on Tangible Common Equity was 10.96%.
Lakeland Bancorp Announces Closing of Acquisition of Somerset Hills Bancorp
GlobeNewswire - Fri May 31, 1:07PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, announced that its acquisition by merger of Somerset Hills Bancorp (formerly Nasdaq:SOMH), the parent company of Somerset Hills Bank, closed today upon the filing of a Certificate of Merger with the New Jersey Department of Treasury. Shortly after the merger of the holding companies, Somerset Hills Bank merged with and into Lakeland Bank.
Nasdaq stocks posting largest volume decreases
AP - Thu May 23, 5:05PM CDT
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
Lakeland Bancorp and Somerset Hills Bancorp Announce Election Form Deadline and Anticipated Closing Date of Merger
GlobeNewswire - Mon May 20, 3:06PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, and Somerset Hills Bancorp (Nasdaq:SOMH) ("Somerset Hills Bancorp"), the parent company of Somerset Hills Bank, today announced that they intend to close the merger of Somerset Hills Bancorp with and into Lakeland Bancorp (the "Merger") and the merger of their respective bank subsidiaries on Friday, May 31, 2013.
Lakeland Bancorp Receives NJ Department of Banking Approval of Proposed Merger With Somerset Hills Bancorp and Provides Information Concerning Election Form Deadline
GlobeNewswire - Mon May 06, 4:52PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, announced that it has received approval from the New Jersey Department of Banking and Insurance of the proposed merger with Somerset Hills Bancorp (Nasdaq:SOMH) ("Somerset Hills Bancorp"), the parent company of Somerset Hills Bank, and of the merger of the bank subsidiaries. The parties expect the additional required regulatory approvals to be forthcoming within the next few weeks. Lakeland Bancorp and Somerset Hills Bancorp intend to issue a press release once all regulatory approvals have been received.
Lakeland Bancorp Receives NJ Department of Banking Approval of Proposed Merger With Somerset Hills Bancorp; Provides Information Concerning Election Form Deadline
GlobeNewswire - Mon May 06, 4:46PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, announced that it has received approval from the New Jersey Department of Banking and Insurance of the proposed merger with Somerset Hills Bancorp (Nasdaq:SOMH) ("Somerset Hills Bancorp"), the parent company of Somerset Hills Bank, and of the merger of the bank subsidiaries. The parties expect the additional required regulatory approvals to be forthcoming within the next few weeks. Lakeland Bancorp and Somerset Hills Bancorp intend to issue a press release once all regulatory approvals have been received.
Lakeland Bancorp Reports First Quarter Results
GlobeNewswire - Thu Apr 18, 7:22AM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) reported the following positive developments for the first quarter of 2013:
Somerset Hills Bancorp Reports 2013 First Quarter Earnings
GlobeNewswire - Thu Apr 18, 7:00AM CDT
Somerset Hills Bancorp (Nasdaq:SOMH) (the "Company"), parent company of Somerset Hills Bank (the "Bank"), today reported first quarter net income of $402,000 for 2013, a 51.0% decline from the $820,000 earned in the first quarter of 2012. First quarter diluted earnings were $0.07 per share for 2013 and $0.15 per share for 2012. First quarter 2013 results include $419,000 of pretax expenses related to the pending merger with Lakeland Bancorp, Inc. ("Lakeland") and amount to $352,000 on an after-tax basis. Net income of the first quarter of 2013 excluding these merger-related expenses was $754,000, a decline of 8.0% from the same quarter of 2012. Excluding merger-related expenses, fully diluted net income per share for the first quarter of 2013 was $0.14, a 6.7% decrease from the first quarter of 2012.
Somerset Hills Declares 2nd Quarter Cash Dividend
GlobeNewswire - Mon Apr 15, 4:00PM CDT
Somerset Hills Bancorp (Nasdaq:SOMH), announced today that its Board of Directors had declared a cash dividend of $.08 per share payable May 6, 2013 to holders of record of the Company's common stock on April 26, 2013. Under the terms of the Company's Merger Agreement with Lakeland Bancorp, Inc., the Company is permitted to continue to pay its regular quarterly cash dividend of $.08 per share each quarter until the closing of the transaction.
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Somerset Hills Bancorp - SOMH
PR Newswire - Wed Jan 30, 3:34PM CST
Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Somerset Hills Bancorp ("Somerset Hills" or the "Company") (NASDAQ: SOMH) (ISIN: US8347281078) (CUSIP: 834728107) concerning the proposed acquisition of Somerset Hills by Lakeland Bancorp in a transaction valued at approximately $64.4 million in aggregate value.
The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Somerset Hills Bancorp in Connection with the Sale of the Company to Lakeland Bancorp, Inc.
PR Newswire - Wed Jan 30, 2:10PM CST
Levi & Korsinsky is investigating the Board of Directors of Somerset Hills Bancorp ("Somerset Hills" or the "Company") (NasdaqGM: SOMH) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Lakeland Bancorp, Inc. (NasdaqGS: LBAI).
Research and Markets: Consumer Magazines Market Report Plus 2014
Business Wire - Fri Jan 31, 4:28AM CST
Research and Markets (http://www.researchandmarkets.com/research/cc9b4m/consumer) has announced the addition of the "Consumer Magazines Market Report Plus 2014" report to their offering.
Windstream Receives 2013 ShoreTel Circle of Excellence Award
GlobeNewswire - Thu Jan 30, 12:04PM CST
Windstream (Nasdaq:WIN), a leading provider of advanced network communications, announced today that it has received ShoreTel's Circle of Excellence Award for the 2013 partner year. The award recognizes Windstream for exceptional achievement in areas including customer satisfaction, revenue growth and proficiency with advanced applications. ShoreTel, Inc. is the leading provider of brilliantly simple phone systems and unified communications solutions.
Nielsen: Global Consumer Confidence Holds Steady to Close 2013, While Spending Intentions Retreat to Q4 2012 Levels
Business Wire - Tue Jan 28, 11:01PM CST
Global consumer confidence held steady at 94 for three consecutive quarters, ending 2013 one point higher than it started (Q1 2013) and three points higher than the same time period the previous year (Q4 2012), according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy.
Lakeland Bancorp Reports Third Quarter Results and Increases Cash Dividend by 7%
GlobeNewswire - Thu Oct 24, 7:19AM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) reported Net Income Available to Common Shareholders in the third quarter of 2013 of $6.6 million or $0.18 per diluted share compared to $5.5 million, or $0.20 per diluted share for the same period last year. Third quarter results included $744,000, or $0.02 per diluted share, in merger expenses relating to the acquisition of Somerset Hills Bancorp, which took place in the second quarter of 2013. Net Income Available to Common Shareholders for the first nine months of 2013 was $17.6 million or $0.54 per diluted share compared to $15.3 million, or $0.56 per diluted share for the same period last year. Excluding merger costs, Net Income Available to Common Shareholders was $19.8 million or $0.61 per diluted share for the first nine months of 2013.The Return on Average Assets for the nine months ended September 30, 2013 was 0.78%, the Return on Average Common Equity was 7.59% and the Return on Tangible Common Equity was 11.12%.
Lakeland Bancorp Reports Strong Second Quarter Results and Announces Gain on Early Extinguishment of Debt
GlobeNewswire - Thu Jul 25, 7:32AM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) reported Net Income Available to Common Shareholders in the second quarter of 2013 of $5.9 million or $0.19 per diluted share compared to $5.5 million, or $0.20 per diluted share for the same period last year. Second quarter results included $1.5 million in merger expenses relating to the acquisition of Somerset Hills Bancorp. Excluding merger expenses, Net Income Available to Common Shareholders was $6.9 million, or $0.22 per diluted share. Second quarter results also included a $1.2 million pre-tax gain on the purchase and early extinguishment of $9.0 million of trust preferred securities previously issued. Net Income Available to Common Shareholders for the first six months of 2013 was $11.0 million or $0.36 per diluted share compared to $9.8 million, or $0.36 per diluted share for the same period last year. Excluding merger costs, Net Income Available to Common Shareholders was $12.6 million or $0.41 per diluted share for the first six months of 2013. The Return on Average Assets for the six months ended June 30, 2013 was 0.76%, the Return on Average Common Equity was 7.55% and the Return on Tangible Common Equity was 10.96%.
Lakeland Bancorp Announces Closing of Acquisition of Somerset Hills Bancorp
GlobeNewswire - Fri May 31, 1:07PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, announced that its acquisition by merger of Somerset Hills Bancorp (formerly Nasdaq:SOMH), the parent company of Somerset Hills Bank, closed today upon the filing of a Certificate of Merger with the New Jersey Department of Treasury. Shortly after the merger of the holding companies, Somerset Hills Bank merged with and into Lakeland Bank.
Nasdaq stocks posting largest volume decreases
AP - Thu May 23, 5:05PM CDT
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
Lakeland Bancorp and Somerset Hills Bancorp Announce Election Form Deadline and Anticipated Closing Date of Merger
GlobeNewswire - Mon May 20, 3:06PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, and Somerset Hills Bancorp (Nasdaq:SOMH) ("Somerset Hills Bancorp"), the parent company of Somerset Hills Bank, today announced that they intend to close the merger of Somerset Hills Bancorp with and into Lakeland Bancorp (the "Merger") and the merger of their respective bank subsidiaries on Friday, May 31, 2013.
Lakeland Bancorp Receives NJ Department of Banking Approval of Proposed Merger With Somerset Hills Bancorp and Provides Information Concerning Election Form Deadline
GlobeNewswire - Mon May 06, 4:52PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, announced that it has received approval from the New Jersey Department of Banking and Insurance of the proposed merger with Somerset Hills Bancorp (Nasdaq:SOMH) ("Somerset Hills Bancorp"), the parent company of Somerset Hills Bank, and of the merger of the bank subsidiaries. The parties expect the additional required regulatory approvals to be forthcoming within the next few weeks. Lakeland Bancorp and Somerset Hills Bancorp intend to issue a press release once all regulatory approvals have been received.
Lakeland Bancorp Receives NJ Department of Banking Approval of Proposed Merger With Somerset Hills Bancorp; Provides Information Concerning Election Form Deadline
GlobeNewswire - Mon May 06, 4:46PM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) ("Lakeland Bancorp"), the parent company of Lakeland Bank, announced that it has received approval from the New Jersey Department of Banking and Insurance of the proposed merger with Somerset Hills Bancorp (Nasdaq:SOMH) ("Somerset Hills Bancorp"), the parent company of Somerset Hills Bank, and of the merger of the bank subsidiaries. The parties expect the additional required regulatory approvals to be forthcoming within the next few weeks. Lakeland Bancorp and Somerset Hills Bancorp intend to issue a press release once all regulatory approvals have been received.
Lakeland Bancorp Reports First Quarter Results
GlobeNewswire - Thu Apr 18, 7:22AM CDT
Lakeland Bancorp, Inc. (Nasdaq:LBAI) reported the following positive developments for the first quarter of 2013:
Somerset Hills Bancorp Reports 2013 First Quarter Earnings
GlobeNewswire - Thu Apr 18, 7:00AM CDT
Somerset Hills Bancorp (Nasdaq:SOMH) (the "Company"), parent company of Somerset Hills Bank (the "Bank"), today reported first quarter net income of $402,000 for 2013, a 51.0% decline from the $820,000 earned in the first quarter of 2012. First quarter diluted earnings were $0.07 per share for 2013 and $0.15 per share for 2012. First quarter 2013 results include $419,000 of pretax expenses related to the pending merger with Lakeland Bancorp, Inc. ("Lakeland") and amount to $352,000 on an after-tax basis. Net income of the first quarter of 2013 excluding these merger-related expenses was $754,000, a decline of 8.0% from the same quarter of 2012. Excluding merger-related expenses, fully diluted net income per share for the first quarter of 2013 was $0.14, a 6.7% decrease from the first quarter of 2012.
Somerset Hills Declares 2nd Quarter Cash Dividend
GlobeNewswire - Mon Apr 15, 4:00PM CDT
Somerset Hills Bancorp (Nasdaq:SOMH), announced today that its Board of Directors had declared a cash dividend of $.08 per share payable May 6, 2013 to holders of record of the Company's common stock on April 26, 2013. Under the terms of the Company's Merger Agreement with Lakeland Bancorp, Inc., the Company is permitted to continue to pay its regular quarterly cash dividend of $.08 per share each quarter until the closing of the transaction.
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Somerset Hills Bancorp - SOMH
PR Newswire - Wed Jan 30, 3:34PM CST
Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Somerset Hills Bancorp ("Somerset Hills" or the "Company") (NASDAQ: SOMH) (ISIN: US8347281078) (CUSIP: 834728107) concerning the proposed acquisition of Somerset Hills by Lakeland Bancorp in a transaction valued at approximately $64.4 million in aggregate value.
The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Somerset Hills Bancorp in Connection with the Sale of the Company to Lakeland Bancorp, Inc.
PR Newswire - Wed Jan 30, 2:10PM CST
Levi & Korsinsky is investigating the Board of Directors of Somerset Hills Bancorp ("Somerset Hills" or the "Company") (NasdaqGM: SOMH) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Lakeland Bancorp, Inc. (NasdaqGS: LBAI).
