Business
Lakeland Financial Reports Record First Quarter Performance; Loan Growth of 5% and Revenue Growth of 9% Contribute to 32% Increase in Net Income to $26.5 Million
WARSAW, Ind., April 27, 2026 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record first quarter net income of $26.5 million for the three months ended March 31, 2026, which represents an increase of $6.4 million, or 32%, compared to net income of $20.1 million for the three months ended March 31, 2025. Diluted earnings per share of $1.04 for the first quarter of 2026 also represents a record first quarter performa
About this update from Lakeland Financial Corporation
[{"type":"image","alt":"Lake City Bank","displaySize":"","headline":null,"caption":"Lake City Bank","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":58,"url":"https://media.zenfs.com/en/globenewswire.com/4747d4dafc02005579bae4f75aea3ba4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/dqm6UTlOnBc1YJKms7gKhg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTgx/https://media.zenfs.com/en/globenewswire.com/4747d4dafc02005579bae4f75aea3ba4","width":300,"height":58}},"lazy":false},{"type":"text","content":"WARSAW, Ind., April 27, 2026 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record first quarter net income of $26.5 million for the three months ended March 31, 2026, which represents an increase of $6.4 million, or 32%, compared to net income of $20.1 million for the three months ended March 31, 2025. Diluted earnings per share of $1.04 for the first quarter of 2026 also represents a record first quarter performance and increased $0.26, or 33%, compared to $0.78 for the first quarter of 2025. On a linked quarter basis, net income decreased $3.4 million, or 11%, from $29.9 million. Diluted earnings per share decreased $0.12, or 10%, from $1.16 on a linked quarter basis.","length":761,"tagName":"p"},{"type":"text","content":"Pretax pre-provision earnings, which is a non-GAAP measure, were $34.6 million for the three months ended March 31, 2026, an increase of $3.5 million, or 11%, compared to $31.0 million for the three months ended March 31, 2025. On a linked quarter basis, pretax pre-provision earnings declined by $1.8 million, or 5%, from $36.4 million.","length":347,"tagName":"p"},{"type":"text","content":"“We started 2026 with robust, record net income for the second consecutive quarter and high single-digit revenue growth on a year-over-year basis,” noted David M. Findlay, Chairman and CEO. “Our record profitability in the first quarter was driven by healthy loan growth, strong net interest margin expansion, and across-the-board growth in fee based revenue. We entered 2026 with a focus of expanding existing client relationships and increasing market share growth opportunities and the Lake City Bank team delivered great results on the revenue generating front. It was a terrific start to 2026.”","length":599,"tagName":"p"},{"type":"text",...