Lakeland Financial reports record FY2022 net income $103.8M, EPS $4.04; Q4 EPS $1.01

LAKELAND FINANCIAL CORP

2022-FY EPS reported $4.04

Full year net income $103.8M, +8% YoY; diluted EPS $4.04, +8%.
Q4 net income $26.0M, +7% YoY but -9% linked quarter; diluted EPS $1.01.
Net interest margin expanded to 3.89% in Q4 (up 102 bps YoY, 32 bps linked).
Provision expense $9.0M in Q4 vs nil; $10.7M commercial credit downgrade and $3.7M charge-off.
Dividend increased 15% to $0.46 per share, payable Feb 6, 2023 to record Jan 25.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LAKELAND FINANCIAL CORP reported the three months ended December 31, 2022 results: net income $26.0 million, EPS $1.01.

Period: the three months ended December 31, 2022
Net income: $26.0 million
EPS: $1.01
Result: reported results

Exact text from the filing

The company further reported quarterly net income of $26.0 million for the three months ended December 31, 2022 versus $24.3 million for the comparable period of 2021, an increase of $1.7 million, or 7%. Diluted net income per common share increased 6% to $1.01 for the fourth quarter of 2022 versus $0.95 for the comparable period of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LAKELAND FINANCIAL CORP reported the twelve months ended December 31, 2022 results: net income $103.8 million, EPS $4.04.

Period: the twelve months ended December 31, 2022
Net income: $103.8 million
EPS: $4.04
Result: reported results

Exact text from the filing

Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record full year net income of $103.8 million, which represents an increase of $8.1 million, or 8%, compared with net income of $95.7 million for 2021. Diluted earnings per share of $4.04 was also a record for 2022, and increased 8% compared to $3.74 for 2021.

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LAKELAND FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000721994-23-000008

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