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Jun 30, 2022
Lakeland Financial Q2 2022 Earnings Report
Lakeland Financial reported record second quarter net income and year-to-date record net income improved.
Key Takeaways
Lakeland Financial Corporation reported a record second quarter net income of $25.7 million, a 5% increase compared to the same period last year. Diluted earnings per share increased by 5% to $1.00. The company's pretax pre-provision earnings, a non-GAAP financial measure, also increased by 10% to $31.3 million.
Return on average equity of 17.65%, compared to 14.71%.
Return on average assets of 1.59%, compared to 1.58%.
Core loan growth, excluding PPP loans, of $260.0 million, or 6%.
Net interest margin expansion of 25 basis points to 3.26% compared to 3.01%