WARSAW — Lakeland Financial Corporation, the parent company of Lake City Bank, reported record quarterly net income of $20.1 million for the three months ended June 30, an increase of 31 percent versus $15.4 million for the second quarter of 2017.

David M. Findlay, president and CEO commented, “The record first-half results of 2018 reflect strong core profitability with revenue growth of 13 percent year over year. This revenue growth was driven by our continued organic loan growth, a healthy increase in client-driven noninterest income and an overall expansion of net interest margin.”

Diluted earnings per share increased 30 percent to $0.78 for the second quarter of 2018, versus $0.60 for the second quarter of 2017, also representing a record quarter for the company and its shareholders. On a linked quarter basis, net income and diluted earnings per share both increased 10 percent. Net income increased $1.8 million from $18.3 million in the first quarter ended March 31, and diluted earnings per share increased from $0.71.

The company further reported record net income of $38.5 million for the six months ended June 30, versus $29.9 million for the comparable period of 2017, an increase of 29 percent. Diluted net income per common share was also a record for the period and increased 28 percent to $1.50 for the six months ended June 30, versus $1.17 for the comparable period of 2017.