Lakeland Financial (LKFN) reported Q1 earnings Friday of $0.78 per diluted share, down from $0.91 a year earlier.

Analysts polled by FactSet expected $0.89.

Revenue for the quarter ended March 31 was $63.8 million, up from $60 million a year earlier.

Four analysts surveyed by FactSet expected $63.7 million.

Shares of the company were down 2.8% in recent premarket activity.