Welcome to our dedicated page for Lakeland Finl news (Ticker: LKFN), a resource for investors and traders seeking the latest updates and insights on Lakeland Finl stock.
Lakeland Financial Corp (LKFN) delivers community-focused banking services across Northern and Central Indiana through commercial lending, wealth management, and retail operations. This news hub provides investors and stakeholders with timely updates on corporate developments shaping the regional financial landscape.
Access official press releases, earnings announcements, and strategic updates in one centralized location. Track key initiatives including loan portfolio growth, regulatory compliance milestones, and leadership changes impacting LKFN's market position. Our curated news collection supports informed analysis of the company's financial health and community impact.
Explore updates across critical categories: quarterly earnings disclosures, merger & acquisition activity, dividend announcements, and regulatory filings. Additional coverage includes technological advancements in banking services and partnerships supporting local Indiana communities.
Bookmark this page for streamlined access to LKFN's evolving story. Combine these verified updates with broader market analysis to assess the company maintains its reputation for conservative growth and relationship-driven banking services.
Lakeland Financial Corporation (Nasdaq/LKFN) reported a record net income of $24.3 million for Q1 2023, a 3% increase from $23.6 million in Q1 2022. Diluted EPS rose to $0.94, up 2% from $0.92. Despite this, net income fell 7% from Q4 2022’s $26.0 million. The company registered loan growth of $401.2 million (9%) over the year but reported a deposit contraction of $302.9 million (5%). Key metrics included a return on average equity of 16.81% and a net interest margin of 3.54%. Noninterest income decreased 3% due to lower mortgage banking activities. The board approved a dividend of $0.46 per share, reflecting a 15% increase from the prior year.
Lake City Bank, a subsidiary of Lakeland Financial Corporation (LKFN), has been recognized in the 2023 KBW Bank Honor Roll, marking its twelfth consecutive year of inclusion. Only 14 out of the 350 banks screened met the qualifications, indicating strong long-term performance. Banks must demonstrate consistent annual earnings per share growth over the past decade to qualify. David M. Findlay, CEO, emphasized the importance of this recognition, especially amid recent banking sector challenges, as a testament to the bank's commitment to shareholder value and disciplined strategies. Lake City Bank, with total assets of $6.4 billion and headquartered in Warsaw, Indiana, operates 53 branches across the state, highlighting its significant local presence.
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