WARSAW, Ind., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, announced that the Board of Directors approved a quarterly cash dividend for the first quarter of 2025 of $0.50 per share, payable February 5, 2025, to shareholders of record as of January 25, 2025. The quarterly dividend represents a 4% increase over the quarterly dividend rate of $0.48 per share paid in 2024. "We are pleased to announce another increase to our commo ...

WARSAW, Ind., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, announced that the Board of Directors approved a quarterly cash dividend for the first quarter of 2025 of $0.50 per share, payable February 5, 2025, to shareholders of record as of January 25, 2025. The quarterly dividend represents a 4% increase over the quarterly dividend rate of $0.48 per share paid in 2024. “We are pleased to announce another increase to our commo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ | --- | --- | |--------------------------------------------------|--------------------------------------------------- ...

Core Insights - Lakeland Financial reported revenue of $61.19 million for the quarter ended September 2024, reflecting a year-over-year increase of 3.3% [1] - The earnings per share (EPS) for the quarter was $0.91, down from $0.98 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate by 2.15%, while the EPS surpassed the consensus estimate by 4.60% [1] Financial Metrics - Net Interest Margin was reported at 3.2%, slightly above the two-analyst average estimate of 3.1% [1] - The Efficiency Ratio stood at 49.7%, marginally better than the two-analyst average estimate of 49.6% [1] - Total Non-Interest Income reached $11.92 million, exceeding the average estimate of $11.60 million based on two analysts [1] Stock Performance - Over the past month, shares of Lakeland Financial have returned +1.4%, matching the Zacks S&P 500 composite's +1.4% change [2] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [2]

Company Performance - Lakeland Financial reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.87 per share, but down from $0.98 per share a year ago, representing an earnings surprise of 4.60% [1] - The company posted revenues of $61.19 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.15% and up from $59.23 million year-over-year [1] - Over the last four quarters, Lakeland Financial has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [1] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.87 on revenues of $60.6 million, and for the current fiscal year, it is $3.37 on revenues of $249.3 million [4] - The estimate revisions trend for Lakeland Financial is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [4] Industry Context - The Banks - Midwest industry, to which Lakeland Financial belongs, is currently in the top 21% of over 250 Zacks industries, suggesting a favorable industry outlook [5] - Heartland Financial, another company in the same industry, is expected to report quarterly earnings of $1.18 per share, reflecting a year-over-year change of +5.4%, with revenues anticipated to be $189.51 million, up 8.8% from the previous year [5]

WARSAW, Ind., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $23.3 million for the three months ended September 30, 2024, which represents a decrease of $1.9 million, or 8%, compared with net income of $25.3 million for the three months ended September 30, 2023. Diluted earnings per share were $0.91 for the third quarter of 2024 and decreased $0.07, or 7%, compared to $0.98 for the third quarter of ...

Exhibit 99.1 NEWS FROM LAKELAND FINANCIAL CORPORATION FOR IMMEDIATE RELEASE Contact Lisa M. O'Neill Executive Vice President and Chief Financial Officer (574) 267-9125 lisa.oneill@lakecitybank.com Lakeland Financial Reports Third Quarter Net Income of $23.3 million, Organic Loan Growth of 5% and Organic Deposit Growth of 4% Warsaw, Indiana (October 25, 2024) – Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $23.3 million for the thre ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ | --- | --- | |--------------------------------------------------|-------------------------------------------------------- ...

This quarterly report represents an earnings surprise of -12.94%. A quarter ago, it was expected that this holding company for Lake City Bank would post earnings of $0.86 per share when it actually produced earnings of $0.88, delivering a surprise of 2.33%. Lakeland Financial, which belongs to the Zacks Banks - Midwest industry, posted revenues of $68.74 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 16.11%. This compares to yearago revenues of $60.03 million. The compan ...

WARSAW, Ind., July 25, 2024 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $22.5 million for the three months ended June 30, 2024, which represents an increase of $7.9 million, or 54%, compared with net income of $14.6 million for the three months ended June 30, 2023. Diluted earnings per share were $0.87 for the second quarter of 2024 and increased 53% compared to $0.57 for the second quarter of 2023. On a linke ...