Lakeland Financial Hits Record Profit
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWarsaw-based Lakeland Financial Corp. (Nasdaq: LKFN) is reporting second quarter net income of $12.8 million, up from $11.4 million during the same period the previous year. The 13 percent increase resulted in a record for the company.
The parent of Lake City Bank is also reporting record-year-to-date net income of $25.1 million, up from $22.5 million during the same period last year, which is an 11 percent increase.
"We continue to be focused on the healthy growth of our balance sheet and taking care of clients in our communities each and every day," said Chief Executive Officer David Findlay. "It’s a combination that has produced disciplined and strategic growth in our Indiana markets over a long period of time."
Findlay added the company was particularly happy with the growth in continued loans and deposits, which rose 3 percent and 5 percent, respectively.