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Lakeland Financial Corporation

Lakeland Financial Corporation

NASDAQ•LKFN
CEO: Mr. David M. Findlay
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 1997-08-14
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, construction, agri-business and agricultural, consumer 1-4 family mortgage, and other commercial and consumer loans. The company also provides retail and merchant credit card services; corporate treasury management, wealth advisory, and trust services; retail brokerage services, including various financial and investment products, such as annuities and life insurance; and mobile business banking and on-line treasury management services. It serves commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and health care industries. The company was founded in 1872 and is headquartered in Warsaw, Indiana.
Contact Information
202 East Center Street, P.O. Box 1387, Warsaw, IN, 46581-1387, United States
574-267-6144
www.lakecitybank.com
Market Cap
$1.52B
P/E (TTM)
15.7
14.8
Dividend Yield
3.4%
52W High
$75.19
52W Low
$50.00
52W Range
38%
Rank39Top 29.7%
4.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$107.84M+0.85%
4-Quarter Trend

EPS

$1.03+13.19%
4-Quarter Trend

FCF

$31.06M+102.70%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income and EPS Growth Nine-month net income rose 6.0% to $73.5M; diluted EPS increased 5.9% to $2.85, driven by NII growth and lower provision expense.
Net Interest Margin Expansion Tax equivalent NIM expanded 28 basis points to 3.44% for nine months, primarily due to a 49 basis point decrease in interest expense ratio.
Asset Quality Improvement Noted Total nonperforming assets fell 66.5% to $19.1M; provision expense decreased 9.6% to $11.8M, despite a large industrial charge-off.
Balance Sheet Expansion Continues Total assets grew 3.2% to $6.895B, funded by a 2.1% increase in total deposits ($6.024B) and strong net loan growth of 3.0%.

Risk Factors

Concentrated Credit Charge-Off Nine-month net charge-offs surged to $29.6M, largely due to a single, previously disclosed nonperforming industrial company credit.
Funding Mix Shift Noted Brokered deposits increased significantly by 322.6% to $175.6M, indicating a shift toward potentially less stable funding sources.
Interest Rate Sensitivity NIM gains rely on favorable monetary policy easing; continued rate movements could negatively impact loan yields and funding costs.
New Tax Legislation Uncertainty The recently enacted US tax reform legislation requires ongoing evaluation regarding its impact on deferred tax assets and liabilities.

Outlook

Funding Cost Outlook Favorable Management anticipates funding costs will continue to respond favorably to further monetary policy easing, supporting net interest margin.
Loan Growth Tied to Rates Volume of loans originated for sale into the secondary market is expected to increase if long-term interest rates decline from current levels.
Credit Quality Monitoring Management monitors ACL adequacy; deteriorating economic conditions could increase nonperforming loans and require higher provision expense.
Strong Capital Position Consolidated Total Capital ratio of 16.22% and CET1 ratio of 15.06% position the Company as 'well-capitalized' under regulations.

Peer Comparison

Revenue (TTM)

First Merchants CorporationFRME
$1.04B
-2.0%
Live Oak Bancshares, Inc.LOB
$964.75M
+8.7%
Veritex Holdings, Inc.VBTX
$781.18M
-1.0%

Gross Margin (Latest Quarter)

National Bank Holdings CorporationNBHC
72.0%
+5.7pp
Stellar Bancorp, Inc.STEL
70.0%
-2.0pp
First Merchants CorporationFRME
60.5%
+3.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FRME$2.24B9.69.9%6.3%
CHCO$1.82B14.211.3%7.8%
FCF$1.78B12.63.4%1.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
0.8%
Moderate Growth
4Q Net Income CAGR
3.0%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 23, 2026
|
EPS:$1.05
|
Revenue:$69.45M
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 29, 2025|
    Revenue: $107.84M+0.8%
    |
    EPS: $1.03+13.2%
    Meet

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $105.87M-7.3%
    |
    EPS: $1.05+19.3%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $101.38M-2.2%
    |
    EPS: $0.78-14.3%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 19, 2025|
    Revenue: $430.00M+9.4%
    |
    EPS: $3.64-0.5%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 30, 2024|
    Revenue: $106.94M+7.5%
    |
    EPS: $0.91-8.1%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $114.18M+19.0%
    |
    EPS: $0.88+54.4%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 1, 2024|
    Revenue: $103.65M+15.8%
    |
    EPS: $0.91-4.2%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 21, 2024|
    Revenue: $393.13M+39.7%
    |
    EPS: $3.66-10.1%
    Beat