On January 6, 2022, 1st Constitution Bancorp and Lakeland Bancorp, Inc. completed a merger in which Lakeland acquired 1st Constitution, creating the fifth-largest bank headquartered in New Jersey.
Lakeland is issuing approximately 14.1 million shares of common stock in the transaction, with the common shareholders of 1st Constitution receiving 1.3577 shares of Lakeland common stock for each 1st Constitution share that they own. As of Sept. 30, 2021, 1st Constitution had approximately $1.91 billion in assets, $1.20 billion in loans and $1.64 billion in deposits. The combined organization has over $10 billion in assets.
Day Pitney served as legal counsel to 1st Constitution. The team, led by Scott Warren Goodman and Gretchen E. Blauvelt-Marquez, includes Jaclyn M. D'Esposito and Trevor G. Korb, with executive compensation and benefits counsel provided by David P. Doyle and litigation counsel provided by Paul Marino and Mike Fialkoff.
The deal was featured in the NJBiz article, "Lakeland Completes Merger with 1st Constitution," and the press release can be found here.
Day Pitney Data Privacy, Protection and Litigation practice group co-chair William Roberts and Associate Johanna Lerner authored an article titled, "New Jersey Bolsters Cybersecurity Incident Reporting Requirements," for the New Jersey Law Journal's Cybersecurity Special Section.
In October 2023, Day Pitney represented a state pension system client in connection with a $200 million investment in a $20 billion private equity fund, and its accompanying co-investment vehicle, focused on acquiring, operating and disposing of financing, software, data and technology-enabled businesses.
Day Pitney Technology Partner Richard Harris was interviewed by Brian Shactman of WTIC Radio's Brian & Company along with Adam Chiara, Applied Associate Professor of Communication at the University of Hartford on artificial intelligence (AI).
Day Pitney Real Estate Partner Jared Ross has been elected to the Board of Directors of the New England Council.
The arrival of new Miami Healthcare Partner Magda Rodriguez was featured in the Florida Bar News' On the Move column.
The arrival of new Miami Healthcare Partner Magda Rodriguez was featured in the Miami Today article, "Day Pitney Adds Partner."
Day Pitney Press Release
The arrival of new Miami Healthcare Partner Magda Rodriguez was featured in CityBiz article, "Magda Rodriguez Joins Day Pitney as a Healthcare Partner in the Firm's Healthcare Life Sciences and Technology Practice."
The arrival of new Miami Healthcare Partner Magda Rodriguez was featured in the Daily Business Review article, "Day Pitney Expands Health Care Practice in Miami as it Prepares to Focus on Palm Beach Growth."
Day Pitney Healthcare practice chair Susan Huntington was featured in the Hartford Business Journal article, "With COVID-19 Emergency Orders Lifted, Employers Seek Guidance on Workplace Precautions."
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