Lakeland Financial reports Q3 EPS 98 vs $1.11 last year

The company’s total capital as a percentage of risk-weighted assets was 15.14% at September 30, 2023, compared to 15.38% at September 30, 2022, and 14.93% at June 30, 2023. These capital levels are well in excess of the 10.00% regulatory threshold required to be characterized as “well-capitalized” and represent a strong capital position. “We are particularly proud of the double-digit organic loan growth we have experienced over the last year with solid, diversified growth in our agricultural, commercial real estate and consumer loan sectors. While commercial and industrial loan growth has been muted in 2023, we’re excited by the business development efforts underway and remain well positioned in every market for the return to growth in this sector. Clearly, our C&I borrowers are continuing to manage their balance sheets conservatively as line usage remains at historical lows and cash balances remain elevated with these clients,” commented David M. Findlay, Chief Executive Officer. “We remain in a robust liquidity position and are very pleased with our deposit retention in a challenging environment.”