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Sep 30, 2020
Lakeland Financial Q3 2020 Earnings Report
Lakeland Financial Corporation reported record quarterly performance driven by strong performances from Commercial Banking, Wealth Advisory and Retail Banking teams.
Key Takeaways
Lakeland Financial Corporation reported a record quarterly net income of $22.8 million for Q3 2020, a 6% increase compared to Q3 2019. Diluted earnings per share increased 7% to $0.89. The company's performance was driven by strong results from its Commercial Banking, Wealth Advisory, and Retail Banking teams.
Net income for the three months ended September 30, 2020, was $22.8 million, a 6% increase versus the same period in 2019.
Diluted earnings per share increased 7% to $0.89 for the third quarter of 2020, versus $0.83 for the third quarter of 2019.
Average total loans for the third quarter of 2020 were $4.56 billion, an increase of 13% versus the third quarter 2019.
Total deposits grew 11% from September 30, 2019 to September 30, 2020.