Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yie ...

Gregory C Brown Senior Vice President, Commercial Elkhart Regional Manager WARSAW, Ind., June 10, 2025 (GLOBE NEWSWIRE) -- Lake City Bank is pleased to welcome back Gregory C. Brown as Senior Vice President, Commercial Elkhart Regional Manager. Brown will lead the newly formed Commercial Elkhart Region, serving commercial clients in Elkhart and surrounding communities. The new region was strategically created to better serve the growing business community in Elkhart. “Since arriving in Elkhart in 1990, ...

Financial Performance - Net income for the first three months of 2025 was $20.1 million, a decrease of $3.3 million, or 14.2%, from $23.4 million in the same period of 2024[132] - Diluted income per common share was $0.78, down 14.3% from $0.91 in the comparable period of 2024[132] - Provision for credit losses increased by $5.3 million, or 347.4%, contributing to the decline in net income[132] - Noninterest income decreased by $1.7 million, or 13.4%, to $10.9 million for Q1 2025, down from $12.6 million in Q1 2024[140] - Noninterest expense increased by $2.1 million, or 6.7%, to $32.8 million for Q1 2025 compared to $30.7 million in Q1 2024[141] Asset and Equity Growth - Total assets increased to $6.851 billion as of March 31, 2025, up $172.8 million, or 2.6%, from $6.678 billion at December 31, 2024[118] - Total equity increased by $10.6 million, or 1.5%, from $683.9 million at December 31, 2024, to $694.5 million at March 31, 2025[118] - Retained earnings increased by $7.2 million, or 1.0%, primarily due to net income of $20.1 million[118] - Total cash and cash equivalents increased by $67.0 million, or 39.8%, to $235.2 million at March 31, 2025, from $168.2 million at December 31, 2024[144] - Total loans increased by $98.8 million, or 2.0%, to $5.131 billion at March 31, 2025, driven by growth in commercial and industrial loans and consumer mortgage loans[151] Income and Interest Metrics - Net interest income rose by $5.5 million, or 11.5%, offsetting some negative impacts on net income[132] - Net interest income increased by $5.3 million, or 10.9%, to $54.0 million for Q1 2025 compared to $48.7 million in Q1 2024[135] - The tax equivalent net interest margin expanded by 25 basis points to 3.40% for Q1 2025, up from 3.15% in Q1 2024[137] - The average rate for interest bearing deposits decreased by 60 basis points, from 3.80% to 3.20%[137] - The average borrowing costs decreased by 107 basis points from 5.61% for the three months ended March 31, 2024 to 4.54% for the same period in 2025[162] Credit and Risk Management - Provision for credit losses increased by $5.3 million, or 347.4%, to $6.8 million for Q1 2025 compared to $1.5 million in Q1 2024[138] - As of March 31, 2025, the allowance for credit losses was 1.77% of total loans, an increase of 9 basis points from 1.68% at December 31, 2024[155] - The allowance for credit losses increased by $6.5 million, or 7.5%, from $86.0 million at December 31, 2024 to $92.4 million at March 31, 2025[160] - Nonperforming assets increased by $1.0 million, or 1.7%, to $57.9 million during Q1 2025, with the ratio of nonperforming assets to total assets decreasing to 0.84%[152] - The Company had 82 credit relationships with principal balances totaling $215.6 million on the classified loan list as of March 31, 2025[158] Capital Ratios - The consolidated total capital to risk-weighted assets ratio is 15.77%, exceeding the minimum required ratio of 8.00%[169] - The consolidated Tier I capital to risk-weighted assets ratio stands at 14.51%, above the minimum requirement of 6.00%[169] - The consolidated Common Equity Tier 1 (CET1) ratio is 14.51%, significantly higher than the minimum requirement of 4.50%[169] - The bank's total capital to risk-weighted assets ratio as of December 31, 2024, was 15.76%, also above the required 8.00%[169] - The bank's Tier I capital to average assets ratio is 12.21%, exceeding the minimum requirement of 4.00%[169] Market and Economic Conditions - The Company anticipates receiving approximately $82.3 million in principal and interest cash flows from the investment securities portfolio during the remainder of 2025[146] - The company has a primary market risk exposure to interest rate risk, with no material exposure to foreign currency exchange risk[173] - The Corporate Risk Committee reviews and approves the interest rate risk management policy annually, with the last review in July 2024[173] - The company is subject to various risks including changes in economic conditions, interest rates, and competition from other financial service providers[171] - The company emphasizes the importance of not placing undue reliance on forward-looking statements due to inherent uncertainties[171]

Lakeland Financial Corporation A Proven History of Shareholder Value Creation And Commitment to Our Communities 1 st Quarter 2025 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 LKFN L I S T E D David M. Findlay Chairman & Chief Executive Officer david.findlay@lakecitybank.com (574) 267-9197 Kristin L. Pruitt 2 Forward-Looking Information This presentation contains, and future oral and wri ...

Financial Performance - Lakeland Financial reported $63.8 million in revenue for the quarter ended March 2025, a year-over-year increase of 6.3% [1] - The reported revenue exceeded the Zacks Consensus Estimate of $62.3 million by 2.41% [1] - Earnings per share (EPS) for the quarter was $0.78, down from $0.88 a year ago, representing a surprise of -10.34% compared to the consensus EPS estimate of $0.87 [1] Key Metrics - Net Interest Margin was reported at 3.4%, slightly above the two-analyst average estimate of 3.3% [4] - The Efficiency Ratio was 51.4%, compared to the average estimate of 51% by two analysts [4] - Total Noninterest Income was $10.93 million, below the average estimate of $11.70 million based on two analysts [4] Stock Performance - Shares of Lakeland Financial have returned -10.1% over the past month, while the Zacks S&P 500 composite experienced a -4.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - Lakeland Financial reported quarterly earnings of $0.78 per share, missing the Zacks Consensus Estimate of $0.87 per share, and showing a decline from $0.88 per share a year ago, resulting in an earnings surprise of -10.34% [1] Group 1: Earnings and Revenue Performance - The company posted revenues of $63.8 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.41%, compared to $60.03 million in the same quarter last year [2] - Over the last four quarters, Lakeland Financial has exceeded consensus EPS estimates two times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Lakeland Financial shares have declined approximately 20.6% since the beginning of the year, while the S&P 500 has decreased by 6.8% [3] - The current consensus EPS estimate for the upcoming quarter is $0.90 on revenues of $63.4 million, and for the current fiscal year, it is $3.70 on revenues of $257.3 million [7] Group 3: Industry Context - The Zacks Industry Rank for Banks - Midwest is currently in the top 11% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can significantly impact individual stock performance [5][8]

Financial Performance - The company reported net income of $20.1 million for Q1 2025, a decrease of $3.3 million or 14% compared to $23.4 million in Q1 2024 [1] - Diluted earnings per share were $0.78, down $0.13 or 14% from $0.91 in Q1 2024 [1] - Net interest income increased by $5.5 million or 12% to $52.9 million compared to Q1 2024 [25] - Revenue grew by 6% from $60.0 million to $63.8 million [7] Capital Strength - Total capital as a percentage of risk-weighted assets improved to 15.77% at March 31, 2025, compared to 15.46% a year earlier [4] - The tangible common equity to tangible assets ratio improved to 10.09% at March 31, 2025, from 9.80% at March 31, 2024 [5] - Common equity tier 1 capital improved to 14.51% compared to 14.21% a year earlier [7] Loan Portfolio - Average total loans increased by $214.9 million or 4% to $5.19 billion year-over-year [9] - Total loans net of deferred loan fees increased by $224.8 million or 4% from $5.00 billion to $5.23 billion [9] - Commercial real estate and multi-family residential loans grew by $143.4 million or 6% [9] Deposit Growth - Total deposits increased by $342.1 million or 6% from $5.62 billion to $5.96 billion year-over-year [13] - Core deposits grew by $402.5 million or 7% to $5.83 billion, representing 98% of total deposits [13][14] - Retail deposits increased by $18.0 million or 1% to $1.79 billion [15] Asset Quality - The provision for credit losses was $6.8 million, an increase of $5.3 million compared to $1.5 million in Q1 2024 [26] - Nonperforming assets increased by $42.6 million or 280% to $57.9 million year-over-year [28] - The allowance for credit loss reserve to total loans was 1.77% at March 31, 2025, up from 1.46% a year earlier [27] Noninterest Income and Expense - Noninterest income decreased by $1.7 million or 13% to $10.9 million compared to Q1 2024 [32] - Noninterest expense increased by $2.1 million or 7% to $32.8 million for Q1 2025 [35] - The efficiency ratio was 51.4% for Q1 2025, compared to 51.2% for Q1 2024 [37] Dividend and Share Repurchase - The board approved a cash dividend of $0.50 per share, a 4% increase from $0.48 in Q1 2024 [6] - The share repurchase program was reauthorized with a remaining authority of $30.0 million [8]

Financial Performance - Net income for the first quarter of 2025 was $20.1 million, a decrease of $3.3 million, or 14%, compared to $23.4 million in the same period of 2024[1] - Diluted earnings per share decreased to $0.78, down $0.13, or 14%, from $0.91 in the first quarter of 2024[1] - Net income decreased to $20,085 thousand for the three months ended March 31, 2025, down 16.00% from $24,190 thousand in the prior quarter[39] - Core operational profitability for the three months ended March 31, 2025, was $20,085 thousand, compared to $24,190 thousand in the previous quarter[57] - Basic earnings per common share decreased to $0.78 in Q1 2025 from $0.91 in Q1 2024, reflecting the lower net income[44] Loan and Deposit Growth - Average loans increased by $214.9 million, or 4%, to $5.19 billion compared to the first quarter of 2024[4] - Core deposits grew by $402.5 million, or 7%, to $5.83 billion year-over-year[12] - Total deposits increased by $342.1 million, or 6%, from $5.62 billion as of March 31, 2024, to $5.96 billion as of March 31, 2025[12] - Commercial deposits grew by $219.4 million, or 10%, to $2.34 billion year-over-year[13] - Total commercial loans increased to $4,623,085,000 in Q1 2025, up from $4,442,872,000 in Q1 2024, showing growth in lending activities[46] - Total deposits reached $5,960,194,000 in Q1 2025, compared to $5,900,996,000 in Q1 2024, indicating a stable deposit base[48] Interest Income and Margin - Net interest income rose by $5.5 million, or 12%, to $51.5 million for the first quarter of 2025[4] - Net interest margin improved by 25 basis points to 3.40% from 3.15% in the first quarter of 2024[20] - Net interest income increased by $5.5 million, or 12%, to $52.9 million for Q1 2025 compared to Q1 2024[23] - Net interest income for Q1 2025 was $52,875,000, an increase of 11.5% compared to $47,416,000 in Q1 2024[44] - Net interest margin improved to 3.40% in Q1 2025, up from 3.25% in Q4 2024, suggesting better interest income generation[40] Credit Quality and Loss Provisions - Provision for credit losses increased to $6.8 million in Q1 2025, up from $1.5 million in Q1 2024[24] - The allowance for credit loss reserve to total loans was 1.77% at March 31, 2025, up from 1.46% a year earlier[25] - The provision for credit losses increased to $6,800 thousand in Q1 2025, compared to $3,691 thousand in Q4 2024, indicating a rise in expected credit losses[39] - The allowance for credit losses increased to $92,433,000 in Q1 2025 from $73,180,000 in Q1 2024, reflecting a proactive approach to potential credit risks[46] - Nonperforming assets rose by $42.6 million, or 280%, to $57.9 million as of March 31, 2025, compared to $15.2 million a year earlier[26] Noninterest Income and Expenses - Noninterest income decreased by $1.7 million, or 13%, to $10.9 million for Q1 2025 compared to Q1 2024[30] - Noninterest expense increased by $2.1 million, or 7%, to $32.8 million for Q1 2025 compared to Q1 2024[33] - Total noninterest income decreased to $10,928,000 in Q1 2025, down 13.4% from $12,612,000 in Q1 2024[44] - Noninterest income for the three months ended March 31, 2025, was $10,928 thousand, down from $11,876 thousand in the previous quarter[57] Asset and Equity Growth - Total assets increased to $6,851,178 thousand as of March 31, 2025, up from $6,678,374 thousand at December 31, 2024, representing a growth of 2.59%[39] - The total equity increased to $694,509 thousand as of March 31, 2025, up from $683,911 thousand at December 31, 2024, marking a growth of 1.74%[39] - Tangible common equity increased to $690,706 thousand as of March 31, 2025, compared to $680,108 thousand at December 31, 2024[54] - Adjusted tangible common equity was $854,585 thousand for the three months ended March 31, 2025, up from $846,040 thousand in the previous quarter[54] Dividends - The company approved a cash dividend of $0.50 per share, representing a 4% increase from the previous year[7] - The dividend declared per common share increased to $0.50 in Q1 2025, compared to $0.48 in Q4 2024, reflecting a commitment to returning value to shareholders[39] Efficiency and Ratios - The efficiency ratio was 51.4% for Q1 2025, compared to 51.2% for Q1 2024[35] - The adjusted core efficiency ratio for the three months ended March 31, 2025, was 51.35%, compared to 48.22% in the previous quarter[57] - The return on average assets decreased to 1.20% in Q1 2025 from 1.42% in Q4 2024, indicating a decline in profitability relative to assets[40]

Company Overview - Lakeland Financial (LKFN) is headquartered in Warsaw and operates in the Finance sector. The stock has experienced a price decline of 9.35% since the beginning of the year [3]. Dividend Information - Lakeland Financial currently pays a dividend of $0.5 per share, resulting in a dividend yield of 3.21%. This yield is higher than the Banks - Midwest industry's yield of 3.18% and significantly above the S&P 500's yield of 1.61% [3]. - The company's annualized dividend of $2 has increased by 4.2% from the previous year. Over the last 5 years, Lakeland Financial has raised its dividend 4 times year-over-year, averaging an annual increase of 12.70% [4]. - The current payout ratio for Lakeland Financial is 55%, indicating that the company distributes 55% of its trailing 12-month earnings per share as dividends [4]. Earnings Growth - The Zacks Consensus Estimate for Lakeland Financial's earnings in 2025 is projected at $3.70 per share, reflecting a year-over-year earnings growth rate of 6.63% [5]. Investment Perspective - Lakeland Financial is considered an attractive dividend investment and a compelling opportunity, holding a Zacks Rank of 2 (Buy) [7].

Company Overview - Lakeland Financial (LKFN) is based in Warsaw and operates in the Finance sector, with a year-to-date share price change of -4.3% [3] - The company currently pays a dividend of $0.5 per share, resulting in a dividend yield of 3.04%, which is slightly below the Banks - Midwest industry's yield of 3.05% but significantly higher than the S&P 500's yield of 1.54% [3] Dividend Performance - The current annualized dividend of Lakeland Financial is $2, reflecting a 4.2% increase from the previous year [4] - Over the past five years, the company has increased its dividend four times, achieving an average annual increase of 12.70% [4] - The company's payout ratio stands at 55%, indicating that it distributes 55% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year 2025, the Zacks Consensus Estimate projects earnings of $3.70 per share, which corresponds to a year-over-year growth rate of 6.63% [5] Investment Appeal - Lakeland Financial is characterized as an attractive dividend play and a compelling investment opportunity, supported by a Zacks Rank of 1 (Strong Buy) [7]