Welcome to our dedicated page for Lakeland Finl news (Ticker: LKFN), a resource for investors and traders seeking the latest updates and insights on Lakeland Finl stock.
Lakeland Financial Corp (LKFN) delivers community-focused banking services across Northern and Central Indiana through commercial lending, wealth management, and retail operations. This news hub provides investors and stakeholders with timely updates on corporate developments shaping the regional financial landscape.
Access official press releases, earnings announcements, and strategic updates in one centralized location. Track key initiatives including loan portfolio growth, regulatory compliance milestones, and leadership changes impacting LKFN's market position. Our curated news collection supports informed analysis of the company's financial health and community impact.
Explore updates across critical categories: quarterly earnings disclosures, merger & acquisition activity, dividend announcements, and regulatory filings. Additional coverage includes technological advancements in banking services and partnerships supporting local Indiana communities.
Bookmark this page for streamlined access to LKFN's evolving story. Combine these verified updates with broader market analysis to assess the company maintains its reputation for conservative growth and relationship-driven banking services.
Lake City Bank, a subsidiary of Lakeland Financial Corporation (NASDAQ: LKFN), has been included in the 2021 KBW Bank Honor Roll for the 10th consecutive year. This recognition highlights the bank's superior performance among just 4% of the 365 banks evaluated. The criteria for this honor include a decade of consecutive increases in annual earnings per share. CEO David M. Findlay emphasized the importance of long-term performance, stating that the bank strives to create value for both customers and shareholders.
Lakeland Financial Corporation (LKFN) reported a record quarterly net income of $23.0 million for Q1 2021, a 33% increase from Q1 2020. Diluted earnings per share rose 34% to $0.90. Compared to Q4 2020, net income decreased 7%. Key highlights include a 10% loan growth, with PPP loans at $397 million, and a 25% growth in core deposits. The bank's return on average equity was 14.27%. However, the net interest margin dropped to 3.19%, down from 3.35% a year ago.
Lake City Bank has launched its next-generation digital banking platform, Lake City Bank Digital, on March 29, 2021. This platform merges four separate online and mobile solutions into one device-agnostic solution for both commercial and retail clients. CEO David M. Findlay emphasized the bank's commitment to being competitive in digital banking, with a significant investment to ensure long-term viability. The platform offers features like account management, bill payment, and financial management tools. The launch was done in partnership with Q2, a leader in digital transformation solutions.
Lakeland Financial Corporation (LKFN) reported full year 2020 net income of $84.3 million, down 3% from 2019. Diluted earnings per share decreased 2% to $3.30. Notably, pretax pre-provision earnings rose 7% to $118.6 million due to increased net interest income. The fourth quarter net income hit a record $24.6 million, marking an 11% growth year-over-year. Total assets grew 18% to $5.8 billion. Despite loan growth from the Paycheck Protection Program (PPP), the company faced challenges with a 21% increase in loan loss allowance and a 19 basis points decline in net interest margin.
On January 13, 2021, Lakeland Financial Corporation (LKFN) announced a quarterly cash dividend of $0.34 per share for Q4 2020, reflecting a 13% increase over previous quarters. The dividend will be paid on February 5, 2021, to shareholders on record as of January 25, 2021. President and CEO David M. Findlay emphasized the company's strong capital position as a foundation for this increase. Lakeland Financial operates Lake City Bank, the largest bank solely invested in Indiana, with 50 offices across the state.
Lakeland Financial Corporation was recognized in Bank Director Magazine's 2021 Ranking of Banking Performance Powerhouses, ranking seventh overall among 20 high-performing banks. The study evaluated banks based on total shareholder return over 20 years. Lakeland excelled in categories including Best Growth Strategy, where it placed second, and had a top-five ranking for creating shareholder value and efficiency. The focus on organic growth and strong technology strategies contributed to its success. Lakeland is Indiana's largest fully invested bank, operating 50 branches.
Lakeland Financial Corporation (LKFN) announced record quarterly net income of $22.8 million for Q3 2020, a 6% increase year-over-year. Diluted EPS rose 7% to $0.89. The company's pretax pre-provision earnings increased 8% to $29.9 million. However, net income for the first nine months fell 8% to $59.7 million compared to 2019. The bank experienced significant loan growth, particularly through the Paycheck Protection Program (PPP), while facing challenges in net interest margin, which decreased by 33 basis points to 3.05%.
Lakeland Financial Corporation (Nasdaq Global Select/LKFN) announced its participation in the Raymond James Virtual U.S. Bank Conference on September 9-10, 2020. CEO David M. Findlay and CFO Lisa M. O’Neill will engage in virtual meetings with institutional investors. Presentation materials are accessible on the company’s website under Investor Relations. Lake City Bank, headquartered in Indiana, is the largest bank fully invested in the state, operating 50 branches and boasting assets of $5.4 billion.
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