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Jun 30, 2020
Lakeland Financial Q2 2020 Earnings Report
Reported a decrease in net income compared to the same quarter last year, but an increase compared to the previous quarter.
Key Takeaways
Lakeland Financial Corporation reported a net income of $19.7 million for Q2 2020, a 9% decrease compared to Q2 2019. However, net income increased by 14% compared to Q1 2020. Diluted earnings per share decreased by 9% to $0.77. Pretax pre-provision earnings increased by 6% compared to the same quarter last year.
Net income for the second quarter of 2020 was $19.7 million, a decrease of 9% compared to the second quarter of 2019.
Diluted earnings per share decreased 9% to $0.77 for the second quarter of 2020.
Pretax pre-provision earnings were $29.6 million for the second quarter of 2020, an increase of 6% compared to the second quarter of 2019.
Average total loans for the second quarter of 2020 were $4.46 billion, an increase of 13% versus the second quarter of 2019.