NEW YORK -- The Federal Reserve Bank of New York Wednesday approved the application by Lakeland Bancorp, Inc., Oak Ridge, N.J., to acquire 100 percent of the outstanding voting shares of High Point Financial Corporation, and indirectly its bank subsidiary, The National Bank of Sussex County, both of Branchville, N.J.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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