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Sep 30, 2024
Lakeland Financial Q3 2024 Earnings Report
Reported a net income of $23.3 million, driven by organic loan and deposit growth.
Key Takeaways
Lakeland Financial Corporation reported a net income of $23.3 million for the third quarter of 2024, a decrease of 8% compared to the same period in 2023. Despite the decrease, the company saw organic loan growth of 5% and organic deposit growth of 4%. Pretax pre-provision earnings increased by 2% year-over-year.
Tangible book value per share grew by 25% to $27.07.
Total risk-based capital ratio improved to 15.75%.
Average loans grew by 4% to $5.06 billion.
Core deposit growth of 5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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