Friday, September 24th, 2021

Lakeland Financial reports record profits

Posted: Friday, April 26, 2013

Lakeland Financial Corporation, the parent company of Lake City Bank, reported on Thursday, April 25 a record net income of $9.2 million for the first quarter of 2013, an increase of 7 percent versus $8.6 million in the first quarter of 2012. Diluted net income per share was also a record for the first quarter and increased 8 percent to 56 cents versus 52 cents for the comparable period of 2012. On a linked quarter basis, net income increased 7 percent compared to net income of $8.6 million, or 52 cents per diluted share, for the fourth quarter of 2012. The performance company also increases dividend paid to 12 percent.

Michael L. Kubacki, chairman and chief executive officer, commented, “This record performance represents a very good start to 2013. As we recently noted at our annual meeting of shareholders, we believe that consistent day-to-day performance and superior client service are critical to the success of our mission to be the acknowledged and recognized leader in Indiana community banking. As our results demonstrate, this client-centered strategy has proven to be good for our shareholders as well.”

Lakeland Financial Corporation may be accessed on the home page of its subsidiary, Lake City Bank, at The Company’s common stock is traded on the Nasdaq Global Select Market under “LKFN.”