Lake Citys parent company sees record first half of 2013
Posted: 08/01/2013 at 4:01 pm
By: Truth Staff
Lakeland Financial Corp. saw net income of $9.2 million for the second quarter, up from $8.8 million in the same quarter of 2012, and for the first half of the year Lakeland had net income of $18.5 million, up 6 percent over last year.
For the quarter, diluted net income per share was up 4 percent to 56 cents, compared to 54 cents for the second quarter of 2012.
The record earnings came in spite of a state income tax expense of $465,000.
“We are extremely pleased with this record performance and continue to be encouraged by the quality and consistency of our earnings. As the largest bank in the state dedicated to serving Indiana, these results are a further affirmation of our Indiana-focused strategy and reflect the commitment we have to our communities,” said Michael Kubacki, chairman and chief executive.