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Sep 30, 2023
Lakeland Financial Q3 2023 Earnings Report
Lakeland Financial reported a net income of $25.3 million, with diluted earnings per share of $0.98, and experienced 10% annualized average loan growth.
Key Takeaways
Lakeland Financial Corporation reported a net income of $25.3 million for the third quarter of 2023, a decrease of $3.3 million, or 11%, compared to the same period in 2022. Diluted earnings per share were $0.98, a 12% decrease year-over-year. However, net income increased 73% compared to the second quarter of 2023. The company experienced double-digit organic loan growth and maintained a robust liquidity position.
Net income for Q3 2023 was $25.3 million, down 11% compared to Q3 2022.
Diluted earnings per share for Q3 2023 were $0.98, a 12% decrease compared to Q3 2022.
Loan growth was $381.1 million, or 8%, compared to the third quarter of 2022.
Net interest margin contracted by 36 basis points year-over-year to 3.21%.
Lakeland Financial
Lakeland Financial
Forward Guidance
Lakeland Financial Corporation did not provide specific forward guidance in the provided document. The document focuses on the results of the third quarter of 2023 and does not include any projections or expectations for future performance.