Lakeland Financial posts profit of $28.4 million

• Lakeland Financial reported record second-quarter 2026 net income of $28.4 million, up 5% year over year.
• Diluted earnings per share increased 9% to $1.13, while revenue rose 7% to $70.9 million.
• The company said loan growth, higher net interest income and increased noninterest income supported results.

Lakeland Financial Corporation (NASDAQ:LKFN) reported record second-quarter 2026 net income of $28.4 million, or $1.13 per diluted share, compared with $27 million, or $1.04 per share, in the second quarter of 2025.

The company’s first-half 2026 net income increased 17% to $54.9 million, while diluted earnings per share rose 19% to $2.17 compared with the same period last year.

Lakeland Financial reported second-quarter revenue of $70.9 million, up 7% year over year, driven by a 6% increase in net interest income and a 9% increase in noninterest income, while loans increased 7% to $5.58 billion.

The company reported that core deposits reached $6.03 billion, representing 95% of total deposits, while it repurchased 70,873 shares for $4.1 million and increased its quarterly dividend by 4% to $0.52 per share.

Lakeland Financial operates through its banking subsidiary, providing commercial and retail banking services, lending products and deposit solutions to customers.

The company reported strong capital levels with a total risk-based capital ratio of 15.61%, tangible common equity ratio of 10.63%, and tangible book value per share growth of 12% to $30.75 year over year.