Lakeland Financial Q3 net income rallies 9% to record $28.9 million

• Lakeland Financial reported record third-quarter 2026 net income of $28.9 million, up 9% year over year, while diluted earnings per share increased 11% to $1.14.
• Revenue rose 6% to $73 million, supported by 8% loan growth to $5.68 billion and net interest margin expansion to 3.58%.
• The company declared a quarterly dividend of $0.52 per share, up 4% year over year, while its total capital ratio remained above regulatory well-capitalized requirements despite increased unrealized securities losses.

Lakeland Financial Corporation (NASDAQ:LKFN) reported record third-quarter 2026 net income of $28.9 million, an increase of 9% from $26.4 million a year earlier, while diluted earnings per share rose 11% to $1.14.

Total quarterly revenue increased 6% year over year to $73.0 million, while net interest income climbed 8% to $60.7 million, supported by higher loan balances and improved funding costs.

Total loans increased 8% year over year to $5.68 billion, while net interest margin expanded to 3.58% from 3.50% a year earlier and 3.49% in the preceding quarter.

Lakeland declared a quarterly cash dividend of $0.52 per share, payable November 5, 2026, to shareholders of record on October 25, representing a 4% increase from the year-earlier distribution.

Total deposits reached approximately $6.29 billion, increasing 4% year over year but declining 1% sequentially, while unrealized losses on available-for-sale securities rose to $213.9 million and the total capital ratio stood at 15.56%.

For the first nine months of 2026, net income increased 14% to $83.8 million and diluted earnings per share rose 16% to $3.31, while the company's overall capital position remained above the regulatory well-capitalized threshold.