Oak Ridge, N.J. – October 6, 2023 – Thomas J. Shara, President and CEO of Lakeland Bank, is pleased to announce the following appointment.
Kenneth Kaestner has been hired as Senior Vice President and Team Leader for the Asset Based Lending Team. With 25 years of industry experience, he was most recently Senior Vice President and Asset Based Lending Regional Leader at Berkshire Bank overseeing the Mid Atlantic Market. Prior to that, Kaestner was Senior Vice President and Team Leader of PNC Business Credit, a division of PNC Bank, N.A. in New York before furthering his career in Philadelphia, Pa. “I am thrilled to be a part of the Lakeland team and to be joining an institution with such a long history of success with an excellent reputation,” said Kaestner. He earned a Bachelor of Science Business degree in finance at The College of New Jersey. Kaestner served on the board of the Secured Finance Network, Philadelphia Chapter, was the Philadelphia Smart CEO Banker of the Year finalist and has contributed in various industry panel discussions. He resides in Mullica Hill, N.J. “We are pleased to welcome Ken to Lakeland to lead our Asset Based Lending Team. Ken has a long and proven track record and I could not be more delighted to have him join us to support our existing and future Asset Based Lending customers,” said John Rath, Executive Vice President, Chief Lending Officer. Ron Krauskopf, First Senior Vice President, Group Leader of Specialty Lending added, “With Ken’s extensive experience in the asset-based lending industry, I am confident his leadership will result in tremendous growth by thoughtfully building new relationships and enhancing our existing client’s experience. I am excited for the platform he will build at Lakeland Bank.”
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $10 billion in total assets. With an extensive branch network and commercial lending centers throughout New Jersey and Highland Mills, N.Y., the Bank has been offering business and retail banking products and services for over 50 years. Business services include commercial loans and lines of credit, commercial real estate loans, loans for healthcare services, asset-based lending, equipment financing, small business loans and lines, and cash management services. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions. Lakeland is proud to be recognized as a Best-In-State Bank by Forbes and Statista for the fifth consecutive year, named a Best Bank To Work For by American Banker and Best Companies Group, rated a 5-Star Bank by Bauer Financial and named one of New Jersey’s 50 Fastest Growing Companies by NJBIZ. Visit LakelandBank.com for more information.
