Financial Performance - Net income for the first nine months of 2025 was $73.5 million, a 6.0% increase from $69.3 million in the same period of 2024[117] - Diluted earnings per share for the first nine months of 2025 rose to $2.85, up 5.9% from $2.69 in the comparable period of 2024[117] - Pretax pre-provision earnings for the first nine months of 2025 were $101.0 million, a 5.8% increase from $95.5 million in the same period of 2024[117] - For the third quarter of 2025, net income was $26.4 million, an improvement of 13.1% from $23.3 million in the same quarter of 2024[136] - The diluted earnings per common share for the third quarter of 2025 was $1.03, an increase of 13.2% from $0.91 in the comparable period of 2024[136] Income and Expenses - Net interest income increased by $18.8 million, or 13.0%, while noninterest income decreased by $9.6 million, or 21.3% in the first nine months of 2025[117] - Noninterest expense increased by $3.7 million, or 3.9%, in the first nine months of 2025[117] - Noninterest expense increased by $4.6 million, or 15.0%, during the third quarter of 2025[137] - Total noninterest income decreased by $9.6 million, or 21.3%, to $35.4 million for the nine months ended September 30, 2025, compared to $45.0 million for the same period in 2024[155] - Total noninterest expense increased by $3.7 million, or 3.9%, to $98.2 million for the nine months ended September 30, 2025, compared to $94.4 million for the same period in 2024[157] Assets and Equity - Total assets as of September 30, 2025, were $6.895 billion, reflecting a 3.2% increase from $6.678 billion at December 31, 2024[122] - Total equity increased by $63.6 million, or 9.3%, from $683.9 million at December 31, 2024, to $747.5 million at September 30, 2025[122] - Total average earning assets rose to $6.498 billion for the nine months ended September 30, 2025, an increase of $217.6 million, or 3.5%, from $6.281 billion in the prior year[144] - Total cash and cash equivalents increased by $24.6 million, or 14.6%, to $192.8 million at September 30, 2025, from $168.2 million at December 31, 2024[163] - Total deposits increased by $123.4 million, or 2.1%, from December 31, 2024, to $6.024 billion as of September 30, 2025[181] Loan and Credit Quality - Average loans outstanding increased by $183.6 million, or 3.7%, to $5.207 billion for the nine months ended September 30, 2025[144] - The loan portfolio increased by $148.5 million, or 3.0%, to $5.180 billion at September 30, 2025, driven primarily by growth in commercial and industrial loans, commercial real estate loans, and consumer mortgage loans[169] - Net charge-offs increased significantly to $29.6 million during the nine months ended September 30, 2025, compared to $1.4 million in the same period of 2024[151] - The allowance for credit losses was 1.30% of total loans as of September 30, 2025, down from 1.68% at December 31, 2024, reflecting a decrease attributed to a previously disclosed charge-off[174] - Total nonperforming assets decreased by $37.8 million, or 66.5%, to $19.1 million during the nine-month period ended September 30, 2025, with the nonperforming assets to total assets ratio dropping to 0.28%[171] Capital and Liquidity - The Tier I Capital ratio was 15.06% for the consolidated entity as of September 30, 2025, exceeding the minimum required of 6.00%[187] - The Company had access to $3.585 billion in unused liquidity as of September 30, 2025, compared to $3.681 billion at December 31, 2024[179] - Brokered deposits increased by $134.1 million, or 322.6%, to $175.6 million at September 30, 2025, compared to $41.6 million at December 31, 2024[181] - The effective tax rate increased to 17.7% for the nine months ended September 30, 2025, compared to 16.0% for the same period in 2024[160] - The allowance for credit losses decreased by $17.8 million, or 20.7%, from $86.0 million at December 31, 2024, to $68.2 million at September 30, 2025[178] Interest Rate and Market Risks - The Company’s interest rate risk is primarily managed through a policy reviewed annually by the Corporate Risk Committee, with the last review conducted in July 2025[192] - The Company anticipates that actual results may differ materially from forward-looking statements due to various economic and market conditions, including interest rates and inflation[190] - The Company faces risks related to changes in borrowers' credit risks and payment behaviors, which could impact loan demand and collateral values[190] - The Company’s performance in the commercial real estate loan portfolio is influenced by the elevated interest rate environment and changing retail and office usage patterns[190] - The Company’s interest rate scenarios include a range of changes from falling 300 basis points to rising 300 basis points, affecting cumulative net interest income over a twelve-month horizon[193]

Core Viewpoint - Lakeland Financial Corporation (NASDAQ:LKFN) has demonstrated strong financial performance, with consistent growth in earnings and revenue, despite some fluctuations in quarterly results [1][2][4]. Financial Performance - For the third quarter of 2025, Lakeland Financial reported earnings per share (EPS) of $1.03, which met market expectations and represented a 13% increase in net income to $26.4 million compared to the previous year [2][4][5]. - The company's revenue for the quarter was $69.03 million, reflecting a 12.8% increase year-over-year, although it fell short of the estimated $69.7 million [2][5]. - The EPS of $1.03 surpassed the Zacks Consensus Estimate of $1.02 by 0.98%, indicating the company's ability to exceed market expectations [3][5]. Year-over-Year Comparison - The net income for the nine months ending September 30, 2025, showed a 6% increase compared to the same period in the previous year, highlighting overall growth despite a slight quarterly decline [4]. - The EPS improved from $0.91 in the previous year, showcasing consistent growth in profitability [3]. Competitive Position - Lakeland Financial operates within the Zacks Banks - Midwest industry, competing with other regional banks in the Midwest, and has consistently outperformed market expectations in recent quarters [1].

For the quarter ended September 2025, Lakeland Financial (LKFN) reported revenue of $69.03 million, up 12.8% over the same period last year. EPS came in at $1.03, compared to $0.91 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $68.3 million, representing a surprise of +1.06%. The company delivered an EPS surprise of +0.98%, with the consensus EPS estimate being $1.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

分组1 - Lakeland Financial (LKFN) reported quarterly earnings of $1.03 per share, exceeding the Zacks Consensus Estimate of $1.02 per share, and up from $0.91 per share a year ago, representing an earnings surprise of +0.98% [1] - The company posted revenues of $69.03 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.06%, and an increase from $61.19 million year-over-year [2] - Over the last four quarters, Lakeland Financial has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] 分组2 - The stock has underperformed the market, losing about 10.1% since the beginning of the year compared to the S&P 500's gain of 15.5% [3] - The current consensus EPS estimate for the coming quarter is $1.05 on revenues of $68.8 million, and for the current fiscal year, it is $3.89 on revenues of $267.2 million [7] - The Zacks Industry Rank for Banks - Midwest is currently in the top 26% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

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Lakeland Financial Corporation A Proven History of Shareholder Value Creation And Commitment to Our Communities 3 rd Quarter 2025 LKFN L I S T E D David M. Findlay Chairman & Chief Executive Officer david.findlay@lakecitybank.com (574) 267-9197 Kristin L. Pruitt President kristin.pruitt@lakecitybank.com (574) 371-9220 Lisa M. O'Neill Executive Vice President & Chief Financial Officer lisa.oneill@lakecitybank.com (574) 267-9125 This presentation contains, and future oral and written statements of the Company ...

WARSAW, Ind., Oct. 27, 2025 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $26.4 million for the three months ended September 30, 2025, which represents an increase of $3.1 million, or 13%, compared with net income of $23.3 million for the three months ended September 30, 2024. Diluted earnings per share were $1.03 for the third quarter of 2025 and increased $0.12, or 13%, compared to $0.91 for the third quarter ...

Financial Performance - Net income for Q3 2025 increased by 13% to $26.4 million, compared to $23.3 million in Q3 2024[1] - Diluted earnings per share rose by 13% to $1.03 for Q3 2025, up from $0.91 in Q3 2024[1] - Net income for the nine months ended September 30, 2025, was $73,455, up from $69,288 in the same period last year, indicating a growth of 4.2%[41] - Basic net income per common share for Q3 2025 was $1.03, compared to $0.91 in Q3 2024, reflecting a growth of 13.2%[41] - Core operational profitability for the three months ended September 30, 2025, was $26,404 million, compared to $23,349 million a year earlier, reflecting a growth of 13.1%[57] Loan and Deposit Growth - Average loans grew by $141.5 million, or 3%, to $5.21 billion compared to Q3 2024[4] - Core deposits increased by $107.9 million, or 2%, to $5.85 billion year-over-year[4] - Total deposits rose by $187.0 million, or 3%, to $6.02 billion compared to September 30, 2024[12] - Total deposits as of September 30, 2025, were $6,024,318, an increase from $5,837,313 in the previous year, representing a growth of 3.2%[41] - Total commercial loans as of September 30, 2025, were $4,605,071,000, a slight decrease from $4,609,028,000 as of June 30, 2025[47] - Total consumer loans increased to $645,972,000 as of September 30, 2025, compared to $619,948,000 as of June 30, 2025, marking a 4.5% growth[47] Asset Quality - Nonaccrual loans declined by 68% to $18.7 million from $57.6 million[4] - Nonperforming assets decreased by 67% to $19.1 million as of September 30, 2025, compared to $58.1 million a year earlier[26] - The allowance for credit losses decreased to $68,168 from $83,627 year-over-year, a reduction of 18.5%[41] - The allowance for credit losses decreased to $67.12 million from $93.64 million in the previous quarter, indicating improved asset quality[50] - The provision for credit losses for Q3 2025 was $2,000,000, down from $3,059,000 in Q3 2024[45] Revenue and Income Sources - Net interest income rose to $56.1 million for Q3 2025, a 14% increase from $49.3 million in Q3 2024, and up 2% from $54.9 million in Q2 2025[22] - Noninterest income increased by 9% to $13.0 million for Q3 2025, driven by strong growth in loan and service fees[29] - Noninterest income for Q3 2025 increased to $12,954,000, up from $11,917,000 in Q3 2024, representing an 8.7% growth[45] - Total interest income for the nine months ended September 30, 2025, was $279,727,000, slightly down from $279,788,000 in the same period of 2024[45] Operational Efficiency - The efficiency ratio was 50.7% for Q3 2025, compared to 49.7% in Q3 2024, indicating increased operational costs relative to revenue[36] - The adjusted core efficiency ratio for the three months ended September 30, 2025, was 50.65%, compared to 49.66% in the same period last year, indicating a slight decline in efficiency[57] Capital and Equity - The common equity tier 1 capital ratio improved to 15.06%, compared to 14.49% a year ago[4] - Tangible common equity as of September 30, 2025, was $743,700, an increase from $695,378 in the same period last year, representing a growth of 6.9%[41] - Total equity increased to $747,503 million as of September 30, 2025, compared to $699,181 million a year earlier, reflecting a growth of 6.9%[54] Dividends and Shareholder Returns - A cash dividend of $0.50 per share was approved, representing a 4% increase from the previous year[7] - The dividend payout ratio for Q3 2025 was 48.54%, slightly up from 52.75% in Q3 2024[41] Market Performance - Market value per share reached a high of $69.40 in Q3 2025, compared to $72.25 in Q3 2024, indicating a decrease of 2.5%[41]

Core Insights - Lake City Bank plans to invest $12 million in the Innovation and Technology Center as part of its Downtown Warsaw Headquarters Campus expansion, continuing its investment in Warsaw and Kosciusko County, totaling $31 million since 2010 [1][6] - The construction of the 35,600 square foot office building is set to begin in early September 2025, with completion expected by summer 2026 [2] - The renovated center will support approximately 110 employees, enhancing collaboration among Technology Services, Information Security, Application Management, and Project Management teams [3][4] Investment and Expansion - The bank has invested $23 million in Downtown Warsaw and $31 million countywide since 2010, demonstrating a long-term commitment to the region [1] - The renovation aims to modernize a facility originally constructed in 1968, which was purchased by Lake City Bank in 2024 [2] Community and Employment Impact - Lake City Bank is the largest employer in Downtown Warsaw, with 283 team members currently working in the area [3] - The renovation is expected to foster collaboration and support the bank's growth as a technology-driven community bank [4] Architectural and Design Features - The Innovation and Technology Center will feature a modern design that aligns with the bank's forward-thinking brand identity, including the preservation and repurposing of the original brick façade [5] - The project reflects the bank's commitment to repurposing older buildings and making significant capital investments in the community [6] Company Overview - Lake City Bank, founded in 1872, is a $7.0 billion bank headquartered in Warsaw, Indiana, serving Central and Northern Indiana with 55 branch offices and a digital banking platform [6]

Core Viewpoint - Lakeland Financial (LKFN) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. Company Performance and Outlook - The upgrade reflects an improvement in Lakeland Financial's underlying business, suggesting that investors may respond positively by driving the stock price higher [5]. - The Zacks Consensus Estimate for Lakeland Financial has increased by 3.5% over the past three months, with expected earnings of $3.89 per share for the fiscal year ending December 2025, indicating no year-over-year change [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - Lakeland Financial's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].