Lakeland Financial: 2Q Earnings Snapshot
WARSAW, Ind. (AP) _ Lakeland Financial Corp. (LKFN) on Thursday reported second-quarter net income of $21.7 million.
The Warsaw, Indiana-based bank said it had earnings of 85 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The holding company for Lake City Bank posted revenue of $66.2 million in the period. Its revenue net of interest expense was $50 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $49.8 million.
Lakeland Financial shares have increased 12% since the beginning of the year. The stock has declined almost 9% in the last 12 months.