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Stock impact report

Lakeland Financial Reports First Quarter 2020 Performance and Management of COVID-19

Lakeland Financial Corporation (LKFN) 
Last lakeland financial corporation earnings: 4/27 08:00 am Check Earnings Report
Company Research Source: GlobeNewswire
WARSAW, Ind., April 27, 2020 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported quarterly net income of $17.3 million for the three months ended March 31, 2020, a decrease of 20% versus $21.7 million for the first quarter of 2019. Diluted earnings per share also decreased 20% to $0.67 for the first quarter of 2020, versus $0.84 for the first quarter of 2019. On a linked quarter basis, net income decreased $4.9 million, or 22% from the fourth quarter of 2019, which resulted in net income of $22.2 million and $0.86 diluted earnings per share. Pretax pre-provision earnings were $27.5 million for the first quarter of 2020, an increase of 1% or $281,000 as compared to the first quarter of 2019. On a linked quarter basis, pretax pre-provision earnings were down 1% from $27.9 million for the fourth quarter of 2019. David M. Findlay, President and Chief Executive Officer stated, “The Lake City Bank team has done Show less Read more
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