Lake City Bank reports record first quarter

Warsaw-based Lakeland Financial Corp. (Nasdaq: LKFN) is reporting record first quarter net income of $24.3 million, compared to $23.6 million during the same period a year ago. The parent of Lake City Bank said the company experienced strong loan growth in construction and land development loans, and multi-family residential loans.

CEO David Findlay said healthy organic loan growth accompanied by a robust capital position contributed to a good start to 2023.

“Our healthy dividend reflects both the operating performance in the first quarter of 2023 and the overall strength of our capital structure. It’s a continuation of a long history of delivering consistent and growing dividends to our shareholders,” said Findlay.

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