Lakeland Financial (NASDAQ:LKFN), the parent company of Lake City Bank, reported record-breaking financial results for the first quarter of 2026 on Monday.
The company posted a net income of $26.5 million, representing a substantial 32% increase compared to the same period last year.
Diluted earnings per share (EPS) followed a similar trajectory, rising 33% to $1.04.
The record performance was underpinned by robust organic growth and improved profitability metrics.
Average loans for the quarter grew by 5% year-over-year to $5.44 billion, while the company’s net interest margin expanded to 3.49%.
In addition to strong operational results, Lakeland Financial demonstrated a commitment to shareholder returns.
The company completed $19.2 million in share repurchases during the quarter and declared a quarterly dividend of $0.52 per share, a 4% increase over the previous rate.