Lakeland in NJ expands footprint for health care lending

Lakeland Bancorp in Oak Ridge, N.J., has expanded its health care lending services to four new states.

The $10.3 billion-asset company said in a press release that it has started making loans in Florida, Massachusetts, Ohio and Virginia. Lakeland’s health care banking team has been operating in Connecticut, Delaware, Maryland, New Jersey, New York and Pennsylvania since 2019.

The platform has originated more than $500 million of loans since its formation. 

“We’re thrilled for the opportunity to expand our services to other areas of the country,” Ron Krauskopf, the company’s health care banking team leader, said in the release. 

“We’re dedicated to building relationships and connecting with our customers … and we’re looking forward to helping meet the needs of new and existing customers from these added states,” Krauskopf added.

The team lends to nonprofits, hospitals, higher education, senior living facilities, private equity groups, medical office building buyers, REITs, large medical practices, behavioral health and ambulatory/outpatient facilities.