Year‐to‐Date Record Net Income Improves by 4% to $49.3 million

Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record second quarter net income of $25.7 million for the three months ended June 30, 2022, an increase of 5%, or $1.3 million, versus $24.3 million for the second quarter of 2021. Diluted earnings per share increased 5% to $1.00 for the second quarter of 2022, versus $0.95 for the second quarter of 2021. On a linked quarter basis, net income increased 9%, or $2.0 million, from the first quarter of 2022 in which the company had net income of $23.6 million, or $0.92 diluted earnings per share. Pretax pre‐provision earnings, which is a non‐GAAP financial measure, were $31.3 million for the second quarter of 2022, an increase of 10%, or $2.9 million, from $28.4 million for the second quarter of 2021. On a linked quarter basis, pretax preprovision earnings increased 9%, or $2.7 million, from $28.6 million for the first quarter of 2022. Read more.