Continuously serving Kosciusko County since 1854
Lakeland Financial Corporation, parent company of Lake City Bank, reported record third quarter net income of $28.9 million for the three months ended Sept. 30, which represents an increase of $2.5 million, or 9%, compared to net income of $26.4 million for the three months ended Sept. 30, 2025.
Diluted earnings per share of $1.14 for the third quarter of 2026 also represents a record for third quarter performance and increased $0.11, or 11%, compared to $1.03 for the third quarter of 2025. On a linked quarter basis, net income increased $417,000 from $28.4 million. Diluted earnings per share increased $0.01 from $1.13 on a linked quarter basis.
The company further reported record performance year-to-date with net income of $83.8 million for the nine months ended Sept. 30, versus $73.5 million for the corresponding period of 2025, an increase of $10.3 million, or 14%.
Diluted earnings per share increased $0.46, or 16%, to $3.31 for the nine months ended Sept. 30, versus $2.85 for the corresponding period of 2025.
Total revenue was $73 million for the third quarter of 2026 representing an increase of $4 million, or 6%, as compared to $69 million for the third quarter of 2025. On a linked quarter basis, total revenue increased by $2.1 million, or 3%, from $70.9 million in the second quarter of 2026. Total revenue increased by $14.4 million, or 7%, to $213.6 million for nine months ended Sept. 30, as compared to $199.2 million for the corresponding period of 2025.
“Strong loan growth and healthy net interest margin expansion were reflected in the quality of our earnings performance in the quarter,” commented David M. Findlay, chairman and CEO. “Clearly, the resulting record net income reflects the efforts of the entire Lake City Bank team as we continue to grow our market share in every market we serve.”
