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Dec 31, 2023
Lakeland Financial Q4 2023 Earnings Report
Lakeland Financial reported increased net income and diluted earnings per share compared to the same quarter last year.
Key Takeaways
Lakeland Financial Corporation reported a net income of $29.6 million for Q4 2023, a 14% increase compared to Q4 2022. Diluted earnings per share were $1.16, up 15% from $1.01 in the same period last year. The quarter benefited from $6.3 million in insurance and loss recoveries related to a prior wire fraud loss.
Net income for Q4 2023 was $29.6 million, up 14% year-over-year.
Diluted earnings per share for Q4 2023 reached a record $1.16, a 15% increase year-over-year.
Average loans grew by $316.4 million, or 7%, compared to the fourth quarter of 2022.
Deposit growth of $259.9 million, or 5%, compared to the fourth quarter of 2022.
Lakeland Financial
Lakeland Financial
Forward Guidance
Lakeland Financial did not provide specific forward guidance in the earnings report. The report highlights their confidence in future growth and balance sheet strength.