Lakeland Financial Reports Record First Quarter Performance; Loan Growth of 5% and Revenue Growth of 9% Contribute to 32% Increase in Net Income to $26.5 Million
Lakeland Financial reported record Q1 net income of $26.5 million, up 32% year-over-year, driven by a 9% increase in revenue and strong net interest margin expansion. Average loan growth of 5% and a 9 basis point improvement in net interest margin to 3.49% underpinned the profitability surge.
Key figures
- Eps
- 1.04
- Revenue
- $69.7 million
- Guidance
- None provided
- Revenue Yoy
- 9%
- Net Income
- $26.5 million
- Loan Growth
- 5%
- Dividend Per Share
- $0.52
- Net Interest Margin
- 3.49%
AI analysis
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