Lakeland Financial Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net income of $8,602,000 or $0.52 per share diluted compared to $8,261,000 or $0.50 per share diluted a year ago. Net interest income was $20,866,000 compared to $22,780,000 reported a year ago. Return on average assets was 1.13% compared to 1.13% reported a year ago. Return on average total equity was 11.48% compared to 12.11% reported a year ago. Total interest income was $26,685,000 compared to $30,163,000 reported a year ago. Income before income tax expense was $12,410,000 compared to $11,933,000 reported a year ago.

For the year, the company reported net income of $35,394,000 or $2.15 per share diluted against $30,662,000 or $1.88 per share diluted a year ago. Net interest income was $87,671,000 compared to $92,080,000 reported a year ago. Book value per common share was $18.18 as at December 31, 2012 compared to $16.85 as at December 31, 2011. Return on average assets was 1.19% compared to 1.10% reported a year ago. Return on average total equity was 12.30% compared to 11.78% reported a year ago. Total interest income was $114,369,000 compared to $121,892,000 reported a year ago. Income before income tax expense was $52,576,000 compared to $45,380,000 reported a year ago.

Net charge-offs totaled $1,717,000 in the fourth quarter of 2012 versus net charge-offs of $1,573,000 during the fourth quarter of 2011.