Lakeland Financial Corporation

Lakeland Financial Reports Record Third Quarter Performance with Loan Growth of 8%; Diluted Earnings per Share Increases by 11%

Lakeland Financial reported record Q3 net income of $28.9 million, up 9% YoY, with record diluted EPS of $1.14, up 11%, and total revenue of $73.0 million, up 6%. Loan growth of 8% to $5.68 billion and net interest margin expansion of 8 bps to 3.58% drove the record quarter, while NPLs improved to 0.32% of loans. The board raised the dividend 4% to $0.52 per share, and the company continued buybacks with $14.6 million remaining on its $60 million authorization. Watch items: watch-list loans rose 56 bps YoY to 3.56% of loans, net charge-offs jumped to $3.0 million from $384,000 a year ago on a single reserved commercial workout, and unrealized AFS losses grew to $213.9 million as the 10-year yield rose 85 bps during the quarter.

•14d ago

Lake City Bank Announces Significant Market Expansion in Fort Wayne at Electric Works

Lake City Bank will lease about 15,025 square feet at Electric Works in Fort Wayne for its Commercial Banking and Credit Administration market headquarters, plus a 2,500 square foot full-service branch. The openings are expected in the first half of 2027 and reflect the bank's 27-year growth trajectory in the Fort Wayne market. Lake City Bank is the $7.2 billion subsidiary of Lakeland Financial Corporation (LKFN), operating 55 branches in Central and Northern Indiana.

•1mo ago

Lake City Bank Named to Piper Sandler Sm-All Stars Class of 2026; Among Top 25 Small-cap Banks and Thrifts in the Country

Lake City Bank, the sole bank subsidiary of Lakeland Financial (LKFN), was named to the Piper Sandler Sm-All Stars Class of 2026, recognizing the top 25 small-cap banks and thrifts nationally. It was the only Indiana-headquartered bank on the list and the fourth time Lake City Bank has been recognized, based on outperformance in earnings growth, loan growth, deposit growth, and return on average equity through June 30, 2026. The recognition is a positive reputation signal but contains no new financial results or guidance; impact on the stock is nominal.

•1mo ago

Lake City Bank Ranked Among Top Performing U.S. Banks in Bank Director Magazine's 2026 RankingBanking

Lake City Bank ranked 15th in Bank Director Magazine's 2026 RankingBanking analysis within its peer group of banks holding $5 billion to $50 billion in assets. The subsidiary of Lakeland Financial also placed first among Indiana-headquartered banks and in the top 10% of all 300 publicly traded banks analyzed. CEO David Findlay attributed the performance to decades of disciplined operating focus and a healthy credit culture.

•2mo ago

Lakeland Financial Reports Record Second Quarter Performance; Net Income Increases 5% to $28.4 million on 7% Revenue Expansion; Average Loans Grow by 6%

Lakeland Financial reported record second quarter net income of $28.4 million, up 5% year-over-year, on revenue of $70.9 million, which increased 7%. Diluted EPS rose 9% to $1.13, marking a record for the quarter. Balance sheet strength was evident with average loans growing 6% to $5.53 billion and net interest margin expanding 7 basis points to 3.49%. Asset quality improved significantly as nonperforming assets fell 36% to $20 million. The bank returned capital to shareholders by raising the quarterly dividend 4% to $0.52 per share and repurchasing $4.1 million of stock. Tangible book value per share increased 12% to $30.75.

•3mo ago

Lakeland Financial Reports Record First Quarter Performance; Loan Growth of 5% and Revenue Growth of 9% Contribute to 32% Increase in Net Income to $26.5 Million

Lakeland Financial reported record Q1 net income of $26.5 million, up 32% year-over-year, driven by a 9% increase in revenue and strong net interest margin expansion. Average loan growth of 5% and a 9 basis point improvement in net interest margin to 3.49% underpinned the profitability surge. The board increased the quarterly dividend by 4% to $0.52 per share and repurchased $19.2 million of stock, returning capital to shareholders.

•6mo ago