Lakeland Financial Q2 net income rises 54% to $22.5 million
Lakeland Financial reported second-quarter 2024 net income of $22.5 million, up 54% from $14.6 million a year earlier, with diluted earnings per share of $0.87 versus $0.57. Net income fell 4% from the first quarter, and the quarter included a $9.0 million Visa share gain and a $4.5 million litigation accrual. Nonperforming loans rose to $57.2 million, mainly from one $43.3 million commercial relationship, which matters to shareholders because it signals higher credit risk.
Key points
- Q2 2024 net income of $22.5 million, up $7.9 million or 54% from Q2 2023; diluted EPS $0.87 versus $0.57
- Net income down $852,000, or 4%, from $23.4 million in Q1 2024
- Q2 results included a $9.0 million net gain on Visa shares and a $4.5 million litigation accrual
- Nonperforming loans rose to $57.2 million from $18.0 million a year earlier, driven by one $43.3 million commercial relationship
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 25, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.