Executive Vice President, Chief Retail Banking Officer Stephanie R. Leniski WARSAW, Ind., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Lake City Bank is pleased to announce that Stephanie R. Leniski has been promoted to Executive Vice President, Chief Retail Banking Officer. “Stephanie’s energy for the business, accompanied by her ability to effectively manage and motivate our retail team, makes her a strong leader,” said David M. Findlay, Chairman and Chief Executive Officer. “She’s strategic in the decisions she ...

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 ...

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 ...

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 ...

DEPOSIT DETAIL (unaudited, in thousands) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------|---------------|-------|-------|----------------|-------|-------|---------------|-------|-------| | | June 30, 2024 | | | March 31, 2024 | | | June 30, 2023 | | | | Retail | $ 1,724,777 | 29.9 | % | $ 1,770,007 | 31.5 | % | $ 1,821,607 | 33.6 | % | | Commercial | 2,150,127 | 37.3 | | 2,117,536 | 37.7 | | 2,082,564 | 38.4 | | | Public fund | 1,727,593 | 30.0 | | 1,544,775 | 27.5 | | 1,4 ...

Exhibit 99.1 Lakeland Financial Reports Second Quarter Net Income of $22.5 million, and Reaches $5.0 Billion in Total Loans, Representing 5% Annual Average Loan Growth "We are pleased to report healthy loan and core deposit growth during the first six months of 2024. While the financial services sector continues to battle the impact of higher interest rates, we are pleased with our overall operating performance in 2024. We have experienced healthy increases in core noninterest income categories, which have ...