Core Insights - Lakeland Financial reported revenue of $69.03 million for the quarter ended September 2025, reflecting a year-over-year increase of 12.8% [1] - The earnings per share (EPS) for the quarter was $1.03, up from $0.91 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $68.3 million, resulting in a surprise of +1.06% [1] - The company also delivered an EPS surprise of +0.98%, with the consensus EPS estimate being $1.02 [1] Financial Metrics - Net Interest Margin was reported at 3.5%, slightly above the average estimate of 3.4% from two analysts [4] - The Efficiency Ratio was 50.7%, compared to the estimated 47.8% by two analysts [4] - Net Interest Income (FTE) was $57.18 million, below the average estimate of $57.85 million from two analysts [4] - Total Noninterest Income reached $12.95 million, surpassing the average estimate of $11.65 million from two analysts [4] Stock Performance - Over the past month, shares of Lakeland Financial have returned -6%, while the Zacks S&P 500 composite has increased by +2.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

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]

Group 1 - The article does not provide any specific content related to a company or industry [1]

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 ...

Core Insights - Lakeland Financial Corporation reported a net income of $26.4 million for Q3 2025, a 13% increase from $23.3 million in Q3 2024, with diluted earnings per share rising to $1.03 from $0.91 [1] - For the nine months ended September 30, 2025, net income was $73.5 million, up 6% from $69.3 million in the same period of 2024, with diluted earnings per share increasing to $2.85 from $2.69 [2] Quarterly Financial Performance - Net interest margin improved by 34 basis points to 3.50% in Q3 2025 compared to 3.16% in Q3 2024, driven by reduced funding costs [19] - Average loans grew by $141.5 million, or 3%, to $5.21 billion year-over-year, while core deposits increased by $107.9 million, or 2%, to $5.85 billion [5][9] - Noninterest income rose by $1.0 million, or 9%, to $13.0 million in Q3 2025 compared to Q3 2024, with significant contributions from loan and service fees [28] Capital Strength - Return on average equity improved to 14.60% from 13.85% year-over-year, and return on average assets increased to 1.53% from 1.39% [5] - Common equity tier 1 capital ratio improved to 15.06% from 14.49% year-over-year, indicating a strong capital position [6] Loan Portfolio - Total loans increased by $166.1 million, or 3%, from $5.08 billion as of September 30, 2024, to $5.25 billion as of September 30, 2025, with notable growth in commercial real estate and multi-family residential loans [10] - Loan origination activity exceeded $400 million during the quarter, reflecting strong demand in the market [10] Asset Quality - Nonaccrual loans decreased by 68% to $18.7 million from $57.6 million year-over-year, indicating improved asset quality [23] - The ratio of allowance for credit losses to total loans was 1.30% at September 30, 2025, down from 1.65% a year earlier [23] Investment Portfolio Overview - Total investment securities increased by $16.9 million, or 1%, to $1.16 billion as of September 30, 2025, representing 17% of total assets [27] Noninterest Expense - Noninterest expense rose by $4.6 million, or 15%, to $35.0 million in Q3 2025 compared to Q3 2024, primarily due to increased salaries and benefits [32] - The company's efficiency ratio was 50.7% for Q3 2025, compared to 49.7% for Q3 2024 [35]

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].

Core Points - Lake City Bank opened its newest branch in Westfield, Indiana, on September 2, 2025, marking the bank's 55th office overall and ninth in the Indianapolis Region [1][2] - The new branch is located at 170 Jersey St. within The Union at Grand Junction development, which includes apartments, retail and office space, restaurants, and public parking [2] - The bank's community banking model emphasizes building long-term customer relationships while providing technology-forward solutions for retail and commercial clients [7] Company Overview - Lake City Bank is a $7 billion bank headquartered in Warsaw, Indiana, founded in 1872, serving Central and Northern Indiana communities with 55 branch offices and a robust digital banking platform [7] - The bank is the single bank subsidiary of Lakeland Financial Corporation, listed on Nasdaq Global Select under the ticker LKFN [8] Management and Community Engagement - Stacy R. Oswald, Vice President and Retail Banking Officer, has moved to the Westfield office from the Fishers office and has 23 years of experience in financial services [4] - The bank aims to expand its relationships in Westfield and engage with the community, reflecting its commitment to local economic development [2][3]

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents Lakeland Financial Corporation's unaudited consolidated financial statements and notes for interim periods [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents Lakeland Financial Corporation's unaudited consolidated financial statements and notes, detailing financial position and performance for the specified interim periods [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) This section presents the consolidated balance sheets, detailing assets, liabilities, and equity at June 30, 2025, and December 31, 2024 | Metric (in thousands) | June 30, 2025 | December 31, 2024 | Change ($) | Change (%) | | :-------------------- | :------------ | :---------------- | :--------- | :--------- | | Total assets | $6,964,301 | $6,678,374 | $285,927 | 4.28% | | Total liabilities | $6,254,314 | $5,994,463 | $259,851 | 4.33% | | Total equity | $709,987 | $683,911 | $26,076 | 3.81% | | Total deposits | $6,176,833 | $5,900,966 | $275,867 | 4.67% | | Loans, net | $5,160,275 | $5,031,988 | $128,287 | 2.55% | | Cash and cash equivalents | $310,180 | $168,205 | $141,975 | 84.41% | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) This section presents the consolidated statements of income, detailing net interest income, noninterest income, and net income for the three and six months ended June 30, 2025 and 2024 | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change ($) | Change (%) | | :-------------------- | :------------------------------- | :------------------------------- | :--------- | :--------- | | Net interest income | $54,876 | $48,296 | $6,580 | 13.62% | | Provision for credit losses | $3,000 | $8,480 | $(5,480) | -64.62% | | Noninterest income | $11,486 | $20,439 | $(8,953) | -43.81% | | Noninterest expense | $30,432 | $33,333 | $(2,901) | -8.70% | | Net income | $26,966 | $22,549 | $4,417 | 19.59% | | Basic EPS | $1.05 | $0.88 | $0.17 | 19.32% | | Diluted EPS | $1.04 | $0.87 | $0.17 | 19.54% | | Metric (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change ($) | Change (%) | | :-------------------- | :----------------------------- | :----------------------------- | :--------- | :--------- | | Net interest income | $107,751 | $95,712 | $12,039 | 12.58% | | Provision for credit losses | $9,800 | $10,000 | $(200) | -2.00% | | Noninterest income | $22,414 | $33,051 | $(10,637) | -32.18% | | Noninterest expense | $63,195 | $64,038 | $(843) | -1.32% | | Net income | $47,051 | $45,950 | $1,101 | 2.40% | | Basic EPS | $1.83 | $1.79 | $0.04 | 2.23% | | Diluted EPS | $1.82 | $1.78 | $0.04 | 2.25% | [Consolidated Statements of Comprehensive Income](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) This section presents the consolidated statements of comprehensive income, detailing net income and other comprehensive income (loss) for the three and six months ended June 30, 2025 and 2024 | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change ($) | Change (%) | | :-------------------- | :------------------------------- | :------------------------------- | :--------- | :--------- | | Net income | $26,966 | $22,549 | $4,417 | 19.59% | | Total other comprehensive income (loss), net of tax | $2,758 | $(3,545) | $6,303 | -177.81% | | Comprehensive income | $29,724 | $19,004 | $10,720 | 56.41% | | Metric (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change ($) | Change (%) | | :-------------------- | :----------------------------- | :----------------------------- | :--------- | :--------- | | Net income | $47,051 | $45,950 | $1,101 | 2.40% | | Total other comprehensive income (loss), net of tax | $5,379 | $(15,263) | $20,642 | -135.24% | | Comprehensive income | $52,430 | $30,687 | $21,743 | 70.85% | [Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) This section presents the consolidated statements of changes in stockholders' equity, detailing total equity, retained earnings, and accumulated other comprehensive income (loss) | Metric (in thousands) | June 30, 2025 | December 31, 2024 | | :-------------------- | :------------ | :---------------- | | Total Stockholders' Equity | $709,898 | $683,822 | | Retained Earnings | $757,739 | $736,412 | | Accumulated Other Comprehensive Income (Loss) | $(161,121) | $(166,500) | | Treasury Stock at Cost | $(17,384) | $(15,754) | - Total stockholders' equity increased by **$26.1 million** from December 31, 2024, to June 30, 2025, primarily due to net income of **$47.1 million**, partially offset by **$25.7 million** in cash dividends paid and an improvement of **$5.4 million** in accumulated other comprehensive income (loss)[120](index=120&type=chunk)[178](index=178&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This section presents the consolidated statements of cash flows, detailing net cash from operating, investing, and financing activities for the six months ended June 30, 2025 and 2024 | Metric (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change ($) | Change (%) | | :-------------------- | :----------------------------- | :----------------------------- | :--------- | :--------- | | Net cash from operating activities | $45,096 | $45,796 | $(700) | -1.53% | | Net cash from investing activities | $(156,340) | $(97,322) | $(59,018) | 60.64% | | Net cash from financing activities | $253,220 | $20,879 | $232,341 | 1112.80% | | Net change in cash and cash equivalents | $141,975 | $(30,647) | $172,622 | -563.29% | | Cash and cash equivalents at end of period | $310,180 | $121,177 | $189,003 | 155.97% | [Notes to the Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes accompanying the consolidated financial statements, offering further explanations and disclosures on various accounting policies and financial items [NOTE 1. BASIS OF PRESENTATION](index=9&type=section&id=NOTE%201.%20BASIS%20OF%20PRESENTATION) This note clarifies the scope of the consolidated financial statements, the Company's single reportable segment, and the adoption and impact of new accounting standards - The Company's financial results are aggregated into one reportable segment, with the Chief Operating Decision Maker evaluating performance on a Company-wide basis, primarily using consolidated net income[18](index=18&type=chunk)[19](index=19&type=chunk) - ASU 2023-08, 'Intangibles—Goodwill and Other—Crypto Assets,' effective for annual periods after December 15, 2024, did not materially impact the consolidated financial statements due to the Company's current operations[20](index=20&type=chunk)[22](index=22&type