Upon the consummation of the acquisition by Lakeland Bancorp Inc. (Lakeland) of Pascack Bancorp Inc., a New Jersey corporation (Pascack) on January 7, 2016, Lawrence R. Inserra, Jr. was appointed to the Boards of Directors of Lakeland and Lakeland Bank, pursuant to the Agreement and Plan of Merger, dated as of August 3, 2015, by and between Lakeland and Pascack (the Merger Agreement). Mr. Inserra, is Chairman of the Board and CEO of Inserra Supermarkets Inc. Mr. Inserra also holds a number of leadership positions, both professionally and philanthropically, including board member and treasurer of Wakefern Food Corporation. In 2013, he was named Chairman of the Board of Governors at Hackensack University Medical Center (HUMC) after serving as first Vice Chairman and Chairman of the Human Resources Committee at HUMC.

Mr. Inserra served as a director of Pascack from 2011 until the closing of the merger with Lakeland, and as a member of Pascack's compliance committee. It is expected that Lakeland's Board will nominate Mr. Inserra to be elected by Lakeland's shareholders at its 2016 annual meeting for a term expiring in 2017. It is also expected that Mr. Inserra will serve on the Lakeland Board's Directors Loan Review and Policy Committees.

In addition, Lakeland has established a Corporate Advisory Council, which will be chaired by Jon F. Hanson, the former Chairman of the Board of Pascack. The Advisory Council will provide guidance and advice to Lakeland with respect to the business markets in the new areas Lakeland will serve as a result of its acquisition of Pascack.