Provident Financial Services, Inc., the parent company of Provident Bank, and Lakeland Bancorp, Inc., the parent company of Lakeland Bank, announced the two companies have agreed to extend their merger agreement to March 31, 2024, to provide additional time to obtain the required regulatory approvals.

Both parties remain committed to the merger and to obtaining regulatory approvals.

When completed, the combined company will operate under the Provident name and will benefit from enhanced scale, opportunities for growth and profitability, and Provident’s and Lakeland’s complementary strengths will provide exceptional service to customers and communities served.

As reported by Equipment Finance Advisor in September, Provident Financial Services, the parent company of Provident Bank, and Lakeland Bancorp, Inc., the parent company of Lakeland Bank, announced in September that they had entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger, valued at approximately $1.3 billion.