Attached files

file filename
10-K - FORM 10-K - LAKELAND BANCORP INCd10k.htm
EX-24.1 - POWER OF ATTORNEY - LAKELAND BANCORP INCdex241.htm
EX-32.1 - CERTIFICATION OF CEO & CFO PURSUANT TO SECTION 906 - LAKELAND BANCORP INCdex321.htm
EX-99.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 111(B)(4) - LAKELAND BANCORP INCdex991.htm
EX-31.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 302 - LAKELAND BANCORP INCdex312.htm
EX-21.1 - SUBSIDIARIES OF REGISTRANT - LAKELAND BANCORP INCdex211.htm
EX-31.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 302 - LAKELAND BANCORP INCdex311.htm
EX-12.1 - STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES - LAKELAND BANCORP INCdex121.htm
EX-10.25 - CHANGE IN CONTROL AGREEMENT, DATED AS OF JUNE 12, 2009 - LAKELAND BANCORP INCdex1025.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - LAKELAND BANCORP INCdex231.htm

Exhibit 99.2

LAKELAND BANCORP, INC.

Certification of Chief Financial Officer

Pursuant to Section 111(b)(4) of the

Emergency Economic Stabilization Act of 2008

I, Joseph F. Hurley, certify, based on my knowledge, that:

(i) The compensation committee of Lakeland Bancorp, Inc. has discussed, reviewed, and evaluated with senior risk officers at least every six months during the period beginning on the later of September 14, 2009, or ninety days after the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury (such closing date, February 6, 2009) and ending with the last day of Lakeland Bancorp, Inc.’s fiscal year containing that date (the applicable period), the senior executive officer (SEO) compensation plans and employee compensation plans and the risks these plans pose to Lakeland Bancorp, Inc.;

(ii) The compensation committee of Lakeland Bancorp, Inc. has identified and limited during the applicable period any features of the SEO compensation plans that could lead SEOs to take unnecessary and excessive risks that could threaten the value of Lakeland Bancorp, Inc., and during that same applicable period has identified any features of the employee compensation plans that pose risks to Lakeland Bancorp, Inc. and has limited those features to ensure that Lakeland Bancorp, Inc. is not unnecessarily exposed to risks;

(iii) The compensation committee has reviewed, at least every six months during the applicable period, the terms of each employee compensation plan and identified any features of the plan that could encourage the manipulation of reported earnings of Lakeland Bancorp, Inc. to enhance the compensation of an employee, and has limited any such features;

(iv) The compensation committee of Lakeland Bancorp, Inc. will certify to the reviews of the SEO compensation plans and employee compensation plans required under (i) and (iii) above;

(v) The compensation committee of Lakeland Bancorp, Inc. will provide a narrative description of how it limited during any part of the most recently completed fiscal year that included a TARP period the features in

(A) SEO compensation plans that could lead SEOs to take unnecessary and excessive risks that could threaten the value of Lakeland Bancorp, Inc.;

(B) Employee compensation plans that unnecessarily expose Lakeland Bancorp, Inc. to risks; and

(C) Employee compensation plans that could encourage the manipulation of reported earnings of Lakeland Bancorp, Inc. to enhance the compensation of an employee;

(vi) Lakeland Bancorp, Inc. has required that bonus payments, as defined in the regulations and guidance established under section 111 of EESA (bonus payments), of the SEOs and twenty next most highly compensated employees, be subject to a recovery or “clawback” provision during any part of the most recently completed fiscal year that was a TARP period if the bonus payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria;

(vii) Lakeland Bancorp, Inc. has prohibited any golden parachute payment, as defined in the regulations and guidance established under section 111 of EESA, to an SEO or any of the next five most highly compensated employees during the period beginning on the later of the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury or June 15, 2009 and ending with the last day of Lakeland Bancorp, Inc.’s fiscal year containing that date;

(viii) Lakeland Bancorp, Inc. has limited bonus payments to its applicable employees in accordance with section 111 of EESA and the regulations and guidance established thereunder during the period beginning on the


later of the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury or June 15, 2009 and ending with the last day of Lakeland Bancorp, Inc.’s fiscal year containing that date;

(ix) The board of directors of Lakeland Bancorp, Inc. has established an excessive or luxury expenditures policy, as defined in the regulations and guidance established under section 111 of EESA, by the later of September 14, 2009, or ninety days after the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury; this policy has been provided to Treasury and its primary regulatory agency; Lakeland Bancorp, Inc. and its employees have complied with this policy during the applicable period; and any expenses that, pursuant to the policy, required approval of the board of directors, a committee of the board of directors, an SEO, or an executive officer with a similar level of responsibility were properly approved;

(x) Lakeland Bancorp, Inc. will permit a non-binding shareholder resolution in compliance with any applicable Federal securities rules and regulations on the disclosures provided under the Federal securities laws related to SEO compensation paid or accrued during the period beginning on the later of the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury or June 15, 2009 and ending with the last day of Lakeland Bancorp, Inc.’s fiscal year containing that date;

(xi) Lakeland Bancorp, Inc. will disclose the amount, nature, and justification for the offering during the period beginning on the later of the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury or June 15, 2009 and ending with the last day of Lakeland Bancorp, Inc.’s fiscal year containing that date of any perquisites, as defined in the regulations and guidance established under section 111 of EESA, whose total value exceeds $25,000 for any employee who is subject to the bonus payment limitations identified in paragraph (viii);

(xii) Lakeland Bancorp, Inc. will disclose whether Lakeland Bancorp, Inc., the board of directors of Lakeland Bancorp, Inc., or the compensation committee of Lakeland Bancorp, Inc. has engaged during the period beginning on the later of the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury or June 15, 2009 and ending with the last day of Lakeland Bancorp, Inc.’s fiscal year containing that date, a compensation consultant; and the services the compensation consultant or any affiliate of the compensation consultant provided during this period;

(xiii) Lakeland Bancorp, Inc. has prohibited the payment of any gross-ups, as defined in the regulations and guidance established under section 111 of EESA, to the SEOs and the next twenty most highly compensated employees during the period beginning on the later of the closing date of the agreement between Lakeland Bancorp, Inc. and Treasury or June 15, 2009 and ending with the last day of Lakeland Bancorp, Inc.’s fiscal year containing that date;

(xiv) Lakeland Bancorp, Inc. has substantially complied with all other requirements related to employee compensation that are provided in the agreement between Lakeland Bancorp, Inc. and Treasury, including any amendments;

(xv) Lakeland Bancorp, Inc. has submitted to Treasury a complete and accurate list of the SEOs and the twenty next most highly compensated employees for the current fiscal year and the most recently completed fiscal year, with the non-SEOs ranked in descending order of level of annual compensation, and with the name, title, and employer of each SEO and most highly compensated employee identified; and

(xvi) I understand that a knowing and willful false or fraudulent statement made in connection with this certification may be punished by fine, imprisonment, or both. (See, for example, 18 U.S.C. 1001.)

Dated: March 16, 2010

 

/s/    JOSEPH F. HURLEY        

Joseph F. Hurley

Executive Vice President and Chief Financial Officer