Lakeland Financial Reports Second Quarter Net Income of $22.5 million, and Reaches $5.0 Billion in Total Loans, Representing 5% Annual Average Loan Growth

July 25, 2024

https://www.globenewswire.com/news-release/2024/07/25/2918706/8543/en/Lakeland-Financial-Reports-Second-Quarter-Net-Income-of-22-5-million-and-Reaches-5-0-Billion-in-Total-Loans-Representing-5-Annual-Average-Loan-Growth.html

WARSAW, Ind., July 25, 2024 (GLOBE NEWSWIRE) — Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $22.5 million for the three months ended June 30, 2024, which represents an increase of $7.9 million, or 54%, compared with net income of $14.6 million for the three months ended June 30, 2023. Diluted earnings per share were $0.87 for the second quarter of 2024 and increased 53% compared to $0.57 for the second quarter of 2023. On a linked quarter basis, net income decreased $852,000, or 4%, from first quarter 2024 net income of $23.4 million and diluted earnings per share decreased $0.04 or 4% from $0.91 at March 31, 2024.

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