Lakeland Financial Corporation reported record second quarter 2026 net income of $28.4 million, a 5% increase year-over-year, with diluted EPS of $1.13 beating analyst estimates of $1.08. Total revenue grew 7% to $70.9 million, slightly missing consensus expectations of $72.25 million.
Key Highlights
- Loan growth remained strong, increasing by 7% year-over-year to $5.58 billion, driven by a 10% increase in commercial and industrial loans.
- Net interest margin (NIM) expanded by 7 basis points year-over-year to 3.49%, remaining stable on a linked-quarter basis.
- Asset quality continued to improve, with nonperforming assets declining by 36% to $20.0 million compared to the prior year.