Net Income Increases 18% and Dividend Increases 16%

Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record first quarter net income of $14.5 million for the three months ended March 31, an increase of 18% versus $12.3 million for the first quarter of 2016. Diluted net income per common share increased 19% to $0.57 for the first quarter of 2017, versus $0.48 for the first quarter of 2016, representing a record quarter for the company and its shareholders. On a linked quarter basis net income increased 7% or $992,000 from the fourth quarter ended December 31, 2016, which had net income of $13.5 million and $0.53 diluted net income per common share. All share and per share data presented in this press release has been adjusted for a 3‐for‐2 stock split paid in the form of a stock dividend on August 5, 2016. Read more.