Quarterly ResultApr 29, 2026, 07:02 AM
LKFN Q1 Net Income $26.5M, +31.8%; EPS $1.04, +33.3%
AI Summary
Lakeland Financial Corp reported strong first-quarter results for 2026, with net income increasing significantly to $26.478 million, up 31.8% year-over-year. Diluted earnings per share rose to $1.04, a 33.3% increase from the prior year. The company also saw a 7.4% rise in net interest income and a substantial decrease in the provision for credit losses. Total deposits and loans experienced growth, while the company continued its share repurchase program.
Key Highlights
- Net income for Q1 2026 was $26.478 million, up 31.8% year-over-year.
- Diluted earnings per common share for Q1 2026 was $1.04, up 33.3% year-over-year.
- Net interest income increased to $56.773 million in Q1 2026, up 7.4% year-over-year.
- Provision for credit losses decreased to $2.0 million in Q1 2026, down 70.6% year-over-year.
- Total deposits reached $6.19 billion as of March 31, 2026, up 3.6% from Dec 31, 2025.
- Total loans, net, were $5.40 billion as of March 31, 2026, up 1.8% from Dec 31, 2025.
- Cash dividends declared and paid were $0.52 per share in Q1 2026, up from $0.50.
- Treasury stock purchases totaled $19.608 million during Q1 2026.
Price Impact
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