secwatch.observer — SEC 8-K summary
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Issuer:     LAKELAND FINANCIAL CORP (LKFN)
CIK:        0000721994
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0000721994-23-000053
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/721994/000072199423000053/0000721994-23-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/721994/000072199423000053/lkfn-20230721.htm
  HTML page:      https://secwatch.observer/filing/0000721994-23-000053

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