Lakeland Financial Hits Record Profit Again
Lake City Bank opened its fourth Indianapolis location in February 2016.
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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 record second quarter net income of $15.4 million, up from $12.8 million during the same period the previous year. The results mark the sixth consecutive quarter of record earnings for the parent of Lake City Bank. Chief Executive Officer David Findlay says the results are due, in part, to continued loan growth and stable asset quality.
The bank says, year-to-date, net income has increased 19 percent over the same time frame in 2016. Findlay says the performance can be attributed to the hard work of the Lake City Bank team.
"These strong results reflect the overall economic vitality of our Indiana footprint and the continued growth of our commercial and consumer loan businesses," said Findlay. "The best way for Lake City Bank to contribute to our markets is through the business of lending, and we are very pleased with our overall growth."
In addition to the six consecutive record quarters, Lakeland Financial has also posted record full-year earnings for the past two years. You can view the full second quarter 2017 earnings report by clicking here.