A New Jersey-based bank has expanded its health care banking services into several states, including Massachusetts.

Oak Ridge, New Jersey-based Lakeland Bank said in a statement that the bank now offers lending and other banking services to health care organizations, including nonprofits, in Massachusetts and nine other states.

The $10.2 billion-asset Lakeland Bank said it has offered health care banking since 2019 in New Jersey, New York, Pennsylvania, Maryland, Delaware and Connecticut. In addition to Massachusetts, the services have recently been expanded into Ohio, Virginia and Florida.

“Lakeland’s Healthcare platform has provided over $500 million in lending in our core markets around New Jersey, New York and Connecticut, so we’re thrilled for the opportunity to expand our services to other areas of the country,” Ron Krauskopf, Lakeland Bank’s first senior vice president and health care banking team leader, said in the statement. “At Lakeland Bank we’re dedicated to building relationships and connecting with our customers – that’s what sets us apart from others, and we’re looking forward to helping meet the needs of new and existing customers from these added states.”

The bank offers lending and treasury management solutions to a variety of organizations involved with health care, the statement said. The bank has provided services for not-for-profit organizations, hospitals, higher education, senior living facilities, private equity groups, medical office building buyers, real estate investment trusts, large medical practices, behavioral health, and ambulatory and outpatient facilities. The bank said it can provide financing exceeding $60 million.

Lakeland is a stock bank with about 70 branches, all in New Jersey except for one in Highland Mills, New York.

New Jersey Bank Extends Health Care Lending to Massachusetts

by Banker & Tradesman time to read: 1 min
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