---
schema_version: "secwatch.filing_event.v1"
accession: "0000721994-23-000053"
form_type: "8-K"
ticker: "LKFN"
cik: "0000721994"
company_name: "LAKELAND FINANCIAL CORP"
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T05:14:44.483590+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lakeland Financial Q2 net income falls 43% to $14.6M on $18.1M wire fraud loss

## Summary
- Q2 net income $14.6M ($0.57 EPS), down 43% YoY from $25.7M ($1.00 EPS); H1 net income $38.9M, down 21%.
- Wire fraud loss of $18.1M ($13.6M net of tax, $0.53 per share) from business email compromise; no client accounts or network compromised.
- Loan growth of 10% YoY ($437.6M) to $4.86B; core deposits stable; net interest margin 3.28% (up 2bps YoY, down 26bps linked).
- Dividend maintained at $0.46 per share, a 15% increase from prior year Q2; payable Aug 7 to holders of record Jul 25.
- Adjusted core noninterest expense (ex-wire fraud and related comp adjustment) declined 5% YoY and 10% linked quarter.

## SEC filing metadata
- accession: 0000721994-23-000053
- form_type: 8-K
- ticker: LKFN
- cik: 0000721994
- company_name: LAKELAND FINANCIAL CORP
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/721994/000072199423000053/0000721994-23-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/721994/000072199423000053/lkfn-20230721.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000721994-23-000053
- JSON: https://secwatch.observer/filing/0000721994-23-000053.json
- Plain text: https://secwatch.observer/filing/0000721994-23-000053.txt

## Key facts
- Earnings Releases
  LAKELAND FINANCIAL CORP reported the six months ended June 30, 2023 results: net income $38.9 million, EPS $1.51.
  - Period: the six months ended June 30, 2023
  - Net income: $38.9 million
  - EPS: $1.51
  - Result: reported results
  source text: The company further reported net income of $38.9 million for the six months ended June 30, 2023, versus $49.3 million for the comparable period of 2022, a decrease of 21%, or $10.4 million. Diluted earnings per share also decreased 21% to $1.51 for the six months ended June 30, 2023, versus $1.92 for the comparable period of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/721994/000072199423000053/0000721994-23-000053-index.htm
- Earnings Releases
  LAKELAND FINANCIAL CORP reported the three months ended June 30, 2023 results: net income $14.6 million, EPS $0.57.
  - Period: the three months ended June 30, 2023
  - Net income: $14.6 million
  - EPS: $0.57
  - Result: reported results
  source text: Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $14.6 million for the three months ended June 30, 2023, which represents a decrease of $11.1 million, or 43%, compared with net income of $25.7 million for the three months ended June 30, 2022. Diluted earnings per share were $0.57 for the second quarter of 2023 and decreased 43% compared to $1.00 for the second quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/721994/000072199423000053/0000721994-23-000053-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.