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]

Financial Performance - Net income for 2024 was $93.5 million, a decrease of 0.3% from $93.8 million in 2023, and 9.7% lower than $103.8 million in 2022[192]. - Diluted net income per share was $3.63 in 2024, down from $3.65 in 2023 and $4.04 in 2022, with a return on average total assets of 1.40% in 2024 compared to 1.45% in 2023[193]. - Core operational profitability for 2024 was $89.4 million, a decrease of 12.0%, or $12.2 million, compared to $101.6 million in 2023[226]. - Net income for 2024 was $93.5 million, a decrease of $289,000 compared to $93.8 million in 2023, driven by a 186.3% increase in provision expense and a 9.9% increase in income tax expense[223]. - The effective tax rate increased to 16.3% in 2024 from 15.0% in 2023, influenced by changes in accounting for low-income housing tax credit structures[247]. - Comprehensive income for 2024 is $82,173,000, a decrease of 35.51% from $127,495,000 in 2023[348]. Asset and Liability Management - Total assets increased to $6.678 billion as of December 31, 2024, a rise of $154.3 million or 2.4% from $6.524 billion in 2023, driven by loan growth of $201.4 million or 4.1%[196]. - Total equity increased to $683.9 million in 2024 from $649.8 million in 2023, representing a growth of 5.2%[217]. - Total deposits increased by $180.4 million, or 3.2%, to $5.901 billion at December 31, 2024, driven by increased public funds deposits[253]. - Total loans outstanding rose by $201.4 million, or 4.1%, to $5.118 billion at December 31, 2024, from $4.917 billion at December 31, 2023[253]. - Total risk-based capital ratio stood at 15.90% as of December 31, 2024, exceeding the Federal Reserve's minimum requirement of 10.0%[278]. Income and Expense Analysis - Noninterest income rose by $7.0 million, while noninterest expense decreased by $5.6 million, contributing positively to net income despite a $10.9 million increase in the provision for credit losses[194]. - Total noninterest expense decreased to $125.1 million in 2024, down 4.3% from $130.7 million in 2023, largely due to the absence of a wire fraud loss that impacted 2023 expenses[244]. - Total interest income increased to $373,158,000 in 2024, up 8.73% from $343,267,000 in 2023[347]. - Total interest expense increased by $30.2 million, or 20.7%, with deposit interest expense rising by $35.0 million, or 25.4%[232]. Credit Quality and Provisioning - Provision expense increased by $10.9 million or 186.3% in 2024, primarily due to the downgrade of one commercial borrower to nonperforming status[210]. - The allowance for credit losses was comprised of 32% specific reserves and 68% general reserves at December 31, 2024, compared to 11% specific reserves and 89% general reserves at December 31, 2023[201]. - Provision for credit losses rose to $16.8 million in 2024 from $5.9 million in 2023, with the allowance for credit losses representing 1.68% of total loans as of December 31, 2024[238]. - Nonperforming loans rose to $56,446 thousand, or 1.1% of total loans, at December 31, 2024, compared to $15,712 thousand, or 0.3% of total loans, at December 31, 2023[288]. - The ratio of allowance for credit losses to nonperforming loans was 152.25% at December 31, 2024, down from 458.01% at December 31, 2023[295]. Investment and Securities - The investment securities portfolio represented 16.8% of total assets on December 31, 2024, down from 18.1% on December 31, 2023[257]. - The investment in U.S. government-sponsored mortgage-backed securities represented approximately 38% of total investment securities fair value as of December 31, 2024[282]. - Purchases of securities available-for-sale totaled $27.5 million in 2024, compared to $7.2 million in 2023 and $315.3 million in 2022[257]. - The carrying value of mortgage servicing rights was $1.9 million as of December 31, 2024, down from $2.2 million in 2023[389]. Operational Efficiency - The efficiency ratio improved to 49.34% in 2024 from 52.94% in 2023, indicating better cost management[214]. - The adjusted core efficiency ratio for 2024 was 49.49%, compared to 47.40% in 2023, indicating a decline in operational efficiency[220]. - The Company aims to achieve optimum and stable net interest income through asset/liability management tools[328]. Future Outlook - The outlook for 2025 includes continued organic balance sheet growth and significant investment in the downtown Warsaw campus headquarters[211]. - The Company expects approximately $104.2 million of potential contingent funding from the securities portfolio in 2025[307].

Company Overview - Lakeland Financial (LKFN) is headquartered in Warsaw and operates in the Finance sector. The stock has experienced a price change of 0.84% since the beginning of the year [3]. Dividend Information - The company currently pays a dividend of $0.5 per share, resulting in a dividend yield of 2.88%. This yield is slightly below the Banks - Midwest industry's yield of 2.9% but significantly higher than the S&P 500's yield of 1.52% [3]. - Lakeland Financial's annualized dividend of $2 has increased by 4.2% from the previous year. Over the last 5 years, the company 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 Expectations - For the fiscal year 2025, the Zacks Consensus Estimate predicts earnings of $3.70 per share, reflecting a year-over-year growth rate of 6.63% [5]. Investment Appeal - Lakeland Financial is viewed as an attractive dividend investment, supported by its strong dividend history and growth potential. The company holds a Zacks Rank of 1 (Strong Buy), indicating a compelling investment opportunity [7].

Lakeland Financial (LKFN) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Indivi ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But 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 yield, a ...