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Sep 30, 2021
Lakeland Financial Q3 2021 Earnings Report
Lakeland Financial reported record third quarter net income and year-to-date record net income improved.
Key Takeaways
Lakeland Financial Corporation reported a record third quarter net income of $24.1 million, an increase of 6% compared to the third quarter of 2020. Diluted earnings per share increased 6% to $0.94. The company's net income for the nine months ended September 30, 2021, was a record $71.5 million, a 20% increase compared to the same period in 2020.
Net income increased by 6% year-over-year to $24.1 million.
Diluted earnings per share increased by 6% year-over-year to $0.94.
Average loan growth, excluding PPP loans, increased by 5%.
Core deposit growth increased by 14%.
Lakeland Financial
Lakeland Financial
Forward Guidance
The loan pipeline is encouraging, and the company continues to see an increase in both client and prospect in-person business development meetings that they are confident will lead to loan growth in the future.