Lakeland Financial Sees Record Q1 Profit
Subscriber Benefit
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), the parent of Lake City bank, is reporting record first quarter net income of $23 million, compared to $17.3 million during the same period last year. President and Chief Executive Officer David Findlay said the company was able to reopen its branch lobbies during the quarter.
Findlay also said the company rolled out its digital platform for retail and commercial banking clients, Lake City Bank Digital.
“With first quarter record net income, we continue to move through the challenging environment with strong financial results. Operationally, we continue to take care of our clients in our Indiana communities,” said Findlay. “Our exceptional capital strength has represented a strong foundation as we have navigated the uncertainty of the past year. Our balance sheet is well positioned for future growth and we’re looking forward to a more normalized environment to continue our focus on doing what we do best and that is to grow our balance sheet through organic loan opportunities in all of our markets. Our strong capital position has also provided the ability to consistently grow dividends for our shareholders over a long period of time.”
You can view the full report by clicking here.