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Dec 31, 2020
Lakeland Financial Q4 2020 Earnings Report
Lakeland Financial reported record quarterly performance driven by loan growth and core deposit growth.
Key Takeaways
Lakeland Financial Corporation reported a record quarterly net income of $24.6 million for the three months ended December 31, 2020, an increase of 11% compared to the same period in 2019. Diluted net income per common share also reached a record for the quarter, increasing 13% to $0.97. The company experienced unprecedented loan growth and provided uninterrupted service through its 50 branch offices.
Record quarterly net income of $24.6 million, up 11% year-over-year.
Diluted net income per common share increased 13% to $0.97.
Average total loans for the fourth quarter were $4.62 billion, an increase of 15% year-over-year.
Total deposits grew 22% to $5.04 billion as of December 31, 2020.
Lakeland Financial
Lakeland Financial
Forward Guidance
The company did not provide specific forward guidance in the earnings report.