Lakeland Financial Reports Record Quarterly Performance
October 28, 2022 at 4:42 p.m.
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The company further reported record net income of $77.8 million for the nine months ended Sept. 30, versus $71.5 million for the comparable period of 2021, an increase of 9%, or $6.4 million. Diluted earnings per share also increased 9% to $3.03 for the nine months ended Sept. 30, versus $2.79 for the comparable period of 2021. Pretax pre-provision earnings were $94.6 million for the nine months ended Sept. 30, versus $88.7 million for the comparable period of 2021, an increase of 7%, or $5.9 million.
David M. Findlay, president and chief executive officer stated, “As we continue to celebrate our 150th anniversary, the Lake City Bank team has delivered exceptional financial performance. Throughout the year, we have taken the time to reflect upon our success over the last 150 years and strengthen our commitment to the future. We are an organization that is focused on the culture and operating discipline that got us this far, while at the same time ensuring that it evolves for the future.”
Findlay said, “As we move through 2022, we are very proud of our performance through the last nine months. We are a community bank committed to the economic growth and vitality of our Indiana markets, and we are pleased that we are experiencing strong organic loan growth. That is the best indicator of our support of our commercial and retail clients, and our teams are doing a great job delivering on that commitment.”
The company further reported record net income of $77.8 million for the nine months ended Sept. 30, versus $71.5 million for the comparable period of 2021, an increase of 9%, or $6.4 million. Diluted earnings per share also increased 9% to $3.03 for the nine months ended Sept. 30, versus $2.79 for the comparable period of 2021. Pretax pre-provision earnings were $94.6 million for the nine months ended Sept. 30, versus $88.7 million for the comparable period of 2021, an increase of 7%, or $5.9 million.
David M. Findlay, president and chief executive officer stated, “As we continue to celebrate our 150th anniversary, the Lake City Bank team has delivered exceptional financial performance. Throughout the year, we have taken the time to reflect upon our success over the last 150 years and strengthen our commitment to the future. We are an organization that is focused on the culture and operating discipline that got us this far, while at the same time ensuring that it evolves for the future.”
Findlay said, “As we move through 2022, we are very proud of our performance through the last nine months. We are a community bank committed to the economic growth and vitality of our Indiana markets, and we are pleased that we are experiencing strong organic loan growth. That is the best indicator of our support of our commercial and retail clients, and our teams are doing a great job delivering on that commitment.”
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