Lakeland Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company announced total interest income was $44,161,000 compared to $36,307,000 for the same period a year ago. Net interest income was $35,392,000 compared to $30,907,000 for the same period a year ago. Net interest income after provision for loan losses was $33,542,000 compared to $29,757,000 for the same period a year ago. Income before income tax expense was $23,406,000 compared to $20,104,000 for the same period a year ago. Net income was $11,627,000 compared to $13,522,000 for the same period a year ago. Diluted earnings per common share were $0.45 compared to $0.53 for the same period a year ago. Tangible book value per common share was $16.89 compared to $15.61 for the same period a year ago. Book value per common share was $17.01 compared to $15.74 for the same period a year ago. Return on average assets was 1.00% compared to 1.28% for the same period a year ago. Return on average equity was 9.87% compared to 12.55% for the same period a year ago.

For the full year, the company announced total interest income was $165,698,000 compared to $138,951,000 for the same period a year ago. Net interest income was $135,892,000 compared to $118,481,000 for the same period a year ago. Net interest income after provision for loan losses was $132,892,000 compared to $117,331,000 for the same period a year ago. Income before income tax expense was $89,634,000 compared to $77,217,000 for the same period a year ago. Net income was $57,330,000 compared to $52,084,000 for the same period a year ago. Diluted earnings per common share were $2.23 compared to $2.05 for the same period a year ago. Return on average total equity for the year ended December 31, 2017 was 12.72% compared to 12.52% in 2016. Return on average assets for 2017 and 2016 was 1.29%. Book value per common share as on December 31, 2017 was $18.60 compared to $17.01 as at December 31, 2016. Tangible book value per common share as on December 31, 2017 was $18.45 compared to $16.89 as at December 31, 2016.

For the fourth quarter ended December 31, 2017, the company announced net charge offs of $226,000 compared to $285,000 for the same period a year ago.