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Jun 30, 2021
Lakeland Financial Q2 2021 Earnings Report
Lakeland Financial reported record quarterly net income, driven by strong organic loan and deposit growth, exceptional Paycheck Protection Program management, and prudent balance sheet management.
Key Takeaways
Lakeland Financial Corporation reported a record quarterly net income of $24.3 million for Q2 2021, a 24% increase compared to Q2 2020. Diluted earnings per share increased by 23% to $0.95. The company saw strong organic loan and deposit growth and effectively managed the Paycheck Protection Program.
Net income increased 24% year-over-year to $24.3 million.
Diluted earnings per share increased 23% year-over-year to $0.95.
Organic loan growth, excluding PPP loans, was $223.6 million, or 6%.
Core deposit growth was $769.3 million, or 17%.
Lakeland Financial
Lakeland Financial
Forward Guidance
Lakeland Financial looks forward to expanding business development efforts and focusing on growing relationships with clients and prospects in the second half of 2021.