Lakeland Financial Reports Record Third Quarter Performance with Loan Growth of 8%; Diluted Earnings per Share Increases by 11%
Key Highlights
- ➤Q3 net income $28.9 million, up 9% year over year
- ➤Diluted EPS $1.14, up 11% year over year
- ➤Loans increased 8% to $5.68 billion year over year
- ➤Net interest margin expanded 8 basis points to 3.58%
- ➤Q3 dividend increased 4% to $0.52 per share
Expert Statements
David M. Findlay, Chairman and CEO of Lakeland Financial Corporation
“Strong loan growth and healthy net interest margin expansion were reflected in the quality of our earnings performance in the quarter.”
Lisa M. O’Neill, Executive Vice President and Chief Financial Officer of Lakeland Financial Corporation
“We’re particularly proud of the net interest margin expansion on a year-over-year basis as well as on a quarter-linked basis.”
Kristin L. Pruitt, President of Lakeland Financial Corporation
“We are pleased to continue to opportunistically leverage our share repurchase program to demonstrate our confidence in the quality of our performance and the long-term strength of our model, as well as our earnings potential.”
David M. Findlay, Chairman and CEO of Lakeland Financial Corporation
“The strength of loan growth during 2026 has been highlighted by double digit growth in commercial and industrial loans.”
Lisa M. O’Neill, Executive Vice President and Chief Financial Officer of Lakeland Financial Corporation
“Core deposits remain stable at 96% of total deposits.”
David M. Findlay, Chairman and CEO of Lakeland Financial Corporation
“The Indiana economy is resilient, diverse and expanding.”
WARSAW, Ind., Oct. 26, 2026 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record third quarter net income of $28.9 million for the three months ended September 30, 2026, which represents an increase of $2.5 million, or 9%, compared to net income of $26.4 million for the three months ended September 30, 2025. Diluted earnings per share of $1.14 for the third quarter of 2026 also represents a record for third quarter performance and increased $0.11, or 11%, compared to $1.03 for the third quarter of 2025. On a linked quarter basis, net income increased $417,000 from $28.4 million. Diluted earnings per share increased $0.01 from $1.13 on a linked quarter basis.
The company further reported record performance year-to-date with net income of $83.8 million for the nine months ended September 30, 2026, versus $73.5 million for the corresponding period of 2025, an increase of $10.3 million, or 14%. Diluted earnings per share increased $0.46, or 16%, to $3.31 for the nine months ended September 30, 2026, versus $2.85 for the corresponding period of 2025.
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