* Says completes sale of four pools of leases

* Sees Q2 to be hurt by $5.6 million from sale

June 10 (Reuters) - Lakeland Bancorp Inc (LBAI.O: Quote, Profile, Research) said its banking unit completed the sale of four pools of leases for $23.6 million, resulting in a loss of $5.6 million in the second quarter.

The four pools of leases had a combined net receivable balance of $33.1 million, including $7.4 million in non-performing assets, the bank holding company said.

The company said risk profile of the lease portfolio was "measurably greater" than its core loan portfolios and the sales were a part of its ongoing program to reduce risk within its lease portfolio.

Lease portfolio has reduced to $225 million from $386 million in June last year, the company said. They now comprise about 11 percent of the bank's total loan portfolio compared with 20 percent a year earlier, Lakeland added.

The leases sold included all of the remaining leases acquired by the bank from an originator that had defaulted on its contractual obligations, the bank said.

Lakeland said the originator's lease portfolio was sold at 66 percent of their net receivable value.

Shares of the company closed at $9.98 on the Nasdaq. (Reporting by Archana Shankar in Bangalore, Editing by Dinesh Nair)