Lakeland Financial Q3 net income $25.3M, down 11% YoY; EPS $0.98; dividend raised 15%

LAKELAND FINANCIAL CORP

2023-Q3 EPS reported $2.49

Net income $25.3M ($0.98 diluted EPS) vs $28.5M ($1.11) in Q3 2022; linked Q up 73% from $14.6M in Q2 2023.
Net interest margin contracted 36 bps to 3.21%; average loan growth 10% annualized; deposit base stable.
Dividend increased 15% to $0.46/share, payable Nov 6 to holders of record Oct 25; unchanged from prior quarter.
Nonperforming assets rose 66% to $16.7M vs a year ago but decreased from Q2; provision expense $400,000.
Total risk-based capital 15.14%; adjusted tangible common equity ratio 11.74%; uninsured deposits 28% of total.

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 three and nine months ended September 30, 2023 results: net income $25.3 million, EPS $0.98.

Period: three and nine months ended September 30, 2023
Net income: $25.3 million
EPS: $0.98
Result: reported results

Exact text from the filing

Lakeland Financial Reports Net Income of $25.3 Million for the Third Quarter and 10% Annualized Average Loan Growth

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

LAKELAND FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000721994-23-000067

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.