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Dec 31, 2024
Lakeland Financial Q4 2024 Earnings Report
Lakeland Financial reported a decrease in net income and earnings per share compared to the same quarter last year, but showed improvement compared to the previous quarter.
Key Takeaways
Lakeland Financial Corporation reported a net income of $24.2 million for Q4 2024, a decrease of 18% compared to Q4 2023. Diluted earnings per share were $0.94, down 19% from $1.16 in the prior year quarter. However, net income increased 4% compared to Q3 2024, and diluted earnings per share improved by 3% on a linked quarter basis. The company's net interest margin also improved by 9 basis points on a linked quarter basis.
Net income decreased by 18% compared to the same quarter last year, but increased by 4% compared to the previous quarter.
Diluted earnings per share decreased by 19% compared to the same quarter last year, but improved by 3% compared to the previous quarter.
Net interest margin improved to 3.25%, a 9-basis point increase on a linked quarter basis.
Average loans grew by 4% year-over-year to $5.09 billion.
Lakeland Financial
Lakeland Financial
Forward Guidance
The company did not provide forward guidance in the earnings report.