NASDAQ : LKFN
Lakeland Financial Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 61.02 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.51B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 342.93M | 337.04M | 337.76M | 308.01M | 203.67M | 170.55M |
| Interest Income on Investments | 35.57M | 36.69M | 35.39M | 35.25M | 35.90M | 22.67M |
| Total Interest Income | 378.50M | 373.74M | 373.16M | 343.27M | 239.57M | 193.22M |
| Interest Paid on Deposits | 142.99M | 150.73M | 172.76M | 137.79M | 36.28M | 14.83M |
| Interest Paid on Borrowings | 2.52M | 1.99M | 3.72M | 8.44M | 399.00K | 304.00K |
| Total Interest Expense | 145.51M | 152.72M | 176.48M | 146.23M | 36.68M | 15.13M |
| Net Interest Income | 232.99M | 221.02M | 196.68M | 197.03M | 202.89M | 178.09M |
| Trust Income | 12.21M | 11.37M | 10.47M | 9.08M | 8.64M | 8.75M |
| Mortgage Banking Activities | 364.00K | 134.00K | 116.00K | -254.00K | 633.00K | 1.42M |
| Gain (Loss) on Sale of Investments | 8.95M | -25.00K | 21.00K | 797.00K | ||
| Other Non-Interest Income | 26.10M | 25.00M | 25.15M | 30.28M | 20.98M | 23.15M |
| Total Non-Interest Income | 50.38M | 47.97M | 55.84M | 49.86M | 41.86M | 44.72M |
| Revenues Before Loan Losses | 283.37M | 268.99M | 252.52M | 246.89M | 244.75M | 222.81M |
| Provision for Loan Losses | 4.91M | 11.80M | 16.75M | 5.85M | 9.38M | 1.08M |
| Revenue | 278.46M | 257.19M | 235.77M | 241.04M | 235.37M | 221.73M |
| Salaries and Employee Benefits | 71.94M | 66.74M | 62.14M | 55.49M | 50.72M | 50.72M |
| Occupancy Expenses | 7.19M | 6.66M | 6.12M | 5.62M | 5.60M | 5.17M |
| Federal Deposit Insurance | 3.51M | 3.36M | 3.46M | 3.36M | 2.00M | 2.24M |
| Selling, General & Administrative | 46.42M | 44.65M | 40.02M | 37.42M | 38.77M | 37.25M |
| Other Non-Interest Expense | 10.12M | 10.20M | 8.80M | 10.76M | 13.12M | 8.90M |
| Total Non-Interest Expense | 139.17M | 131.60M | 120.55M | 112.65M | 110.21M | 104.29M |
| EBT Excluding Unusual Items | 139.29M | 125.58M | 115.23M | 128.39M | 125.16M | 117.44M |
| Legal Settlements | -4.54M | |||||
| Other Unusual Items | -18.06M | |||||
| Pretax Income | 139.29M | 125.58M | 111.69M | 110.33M | 125.16M | 117.44M |
| Income Tax Expense | 25.61M | 22.22M | 18.21M | 16.57M | 21.35M | 21.71M |
| Net Income | 113.68M | 103.36M | 93.48M | 93.77M | 103.82M | 95.73M |
| Net Income to Common | 113.68M | 103.36M | 93.48M | 93.77M | 103.82M | 95.73M |
| Basic Shares Outstanding | 25.26M | 25.69M | 25.68M | 25.60M | 25.53M | 25.48M |
| Diluted Shares Outstanding | 25.44M | 25.80M | 25.77M | 25.72M | 25.71M | 25.62M |
| EPS (Basic) | 4.50 | 4.02 | 3.64 | 3.66 | 4.07 | 3.76 |
| EPS (Diluted) | 4.47 | 4.01 | 3.63 | 3.65 | 4.04 | 3.74 |
| Dividend Per Share | 2.08 | 2.02 | 1.94 | 1.86 | 1.66 | 1.42 |
| Effective Tax Rate | 18.38% | 17.70% | 16.30% | 15.02% | 17.05% | 18.49% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 115.77M | 141.32M | 168.21M | 151.82M | 130.28M | 683.24M |
| Investment Securities | 679.33M | 753.21M | 718.09M | 749.80M | 835.96M | 923.06M |
| Mortgage-Backed Securities | 411.11M | 454.16M | 422.41M | 447.84M | 492.31M | 487.20M |
| Total Investments | 1.09B | 1.21B | 1.14B | 1.20B | 1.33B | 1.41B |
| Gross Loans | 5.68B | 5.38B | 5.12B | 4.92B | 4.71B | 4.29B |
| Allowance for Loan Losses | -68.83M | -69.00M | -85.96M | -71.97M | -72.61M | -67.77M |
| Other Adjustments to Gross Loans | -3.05M | -2.51M | -2.69M | -3.46M | -3.07M | -3.26M |
| Net Loans | 5.61B | 5.31B | 5.03B | 4.84B | 4.64B | 4.22B |
| Property, Plant & Equipment | 78.91M | 72.61M | 60.49M | 57.90M | 58.10M | 59.31M |
| Goodwill | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M |
| Loans Held for Sale | 2.27M | 2.71M | 1.70M | 1.16M | 357.00K | 7.47M |
| Accrued Interest Receivable | 30.25M | 29.00M | 28.45M | 30.01M | 27.99M | 17.67M |
| Other Real Estate Owned & Foreclosed | 24.00K | 284.00K | 384.00K | 100.00K | 196.00K | |
| Other Long-Term Assets | 274.12M | 225.70M | 241.80M | 235.57M | 244.51M | 154.14M |
| Total Assets | 7.21B | 6.99B | 6.68B | 6.52B | 6.43B | 6.56B |
| Interest Bearing Deposits | 4.98B | 4.20B | 3.96B | 3.57B | 3.27B | 3.21B |
| Institutional Deposits | 549.38M | 642.78M | 792.74M | 455.43M | 627.12M | |
| Non-Interest Bearing Deposits | 1.32B | 1.22B | 1.30B | 1.35B | 1.74B | 1.90B |
| Total Deposits | 6.29B | 5.97B | 5.90B | 5.72B | 5.46B | 5.74B |
| Short-Term Borrowings | 100.00M | 184.63M | 25.40M | 77.19M | 297.00M | |
| Current Portion of Leases | 226.00K | 971.00K | ||||
| Accrued Interest Payable | 9.70M | 8.87M | 15.12M | 20.89M | 3.19M | 2.62M |
| Long-Term Debt | 13.00M | |||||
| Federal Home Loan Bank Debt, Long-Term | 1.30M | 1.20M | 75.00M | |||
| Long-Term Leases | 6.29M | 6.10M | ||||
| Pension & Post-Retirement Benefits | 155.00K | 150.00K | -191.00K | 180.00K | -24.00K | |
| Other Long-Term Liabilities | 63.52M | 39.26M | 52.83M | 55.82M | 102.50M | 39.41M |
| Total Liabilities | 6.48B | 6.23B | 5.99B | 5.87B | 5.86B | 5.85B |
| Common Stock | 142.94M | 136.97M | 129.66M | 127.69M | 127.00M | 120.61M |
| Retained Earnings | 832.84M | 788.35M | 736.41M | 692.76M | 646.10M | 583.13M |
| Treasury Stock | -62.01M | -35.77M | -15.75M | -15.55M | -15.38M | -15.03M |
| Comprehensive Income & Other | -181.77M | -127.14M | -166.50M | -155.19M | -188.92M | 16.09M |
| Total Common Equity | 732.00M | 762.40M | 683.82M | 649.70M | 568.80M | 704.82M |
| Minority Interest | 89.00K | 89.00K | 89.00K | 89.00K | 89.00K | 89.00K |
| Shareholders' Equity | 732.09M | 762.49M | 683.91M | 649.79M | 568.89M | 704.91M |
| Total Liabilities & Equity | 7.21B | 6.99B | 6.68B | 6.52B | 6.43B | 6.56B |
| Total Debt | 107.81M | 205.90M | 25.40M | 77.19M | 297.00M | 75.00M |
| Net Cash (Debt) | 7.95M | -64.58M | 142.80M | 74.63M | -166.72M | 608.24M |
| Net Cash Per Share | 0.31 | -2.50 | 5.54 | 2.90 | -6.48 | 23.74 |
| Filing Date Shares Outstanding | 24.70M | 25.27M | 25.56M | 25.51M | 25.43M | 25.34M |
| Total Common Shares Outstanding | 24.82M | 25.22M | 25.51M | 25.43M | 25.35M | 25.30M |
| Book Value Per Share | 29.49 | 30.23 | 26.81 | 25.55 | 22.44 | 27.86 |
| Tangible Book Value | 727.03M | 757.43M | 678.85M | 644.73M | 563.83M | 699.85M |
| Tangible Book Value Per Share | 29.29 | 30.03 | 26.61 | 25.35 | 22.24 | 27.66 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 113.68M | 103.36M | 93.48M | 93.77M | 103.82M | 95.73M |
| Depreciation & Amortization | 6.14M | 5.98M | 5.95M | 6.17M | 6.78M | 8.39M |
| Gain (Loss) on Sale of Assets | -282.00K | -280.00K | 104.00K | 3.00K | 103.00K | 110.00K |
| Gain (Loss) on Sale of Investments | 3.59M | 4.01M | -4.15M | 4.94M | 6.32M | 4.16M |
| Provision for Credit Losses | 4.91M | 11.80M | 16.75M | 5.85M | 9.38M | 1.08M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -1.08M | -626.00K | -133.00K | -579.00K | 7.79M | 6.95M |
| Accrued Interest Receivable | -6.43M | -162.00K | 1.28M | -6.17M | -10.71M | -1.85M |
| Other Operating Activities | -4.80M | -4.03M | -3.96M | -2.72M | -1.15M | -2.88M |
| Operating Cash Flow | 134.45M | 114.89M | 102.48M | 113.98M | 169.34M | 113.77M |
| Capital Expenditures | -13.72M | -11.12M | -8.63M | -5.99M | -4.82M | -6.17M |
| Sale of Property, Plant and Equipment | 7.00K | 6.00K | 10.00K | 13.00K | 6.00K | 8.00K |
| Investment in Securities | 18.66M | -16.51M | 48.28M | 169.84M | -181.78M | -683.23M |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -435.63M | -286.17M | -204.18M | -212.91M | -427.10M | 356.66M |
| Other Investing Activities | 1.46M | -11.63M | 281.00K | -5.88M | -12.83M | 232.00K |
| Investing Cash Flow | -429.22M | -325.42M | -164.24M | -54.93M | -626.52M | -331.55M |
| Short-Term Debt Issued | 170.00M | 297.00M | ||||
| Long-Term Debt Issued | 14.20M | |||||
| Total Debt Issued | 128.10M | 184.20M | 297.00M | |||
| Short-Term Debt Repaid | -50.00M | -225.00M | -10.50M | |||
| Long-Term Debt Repaid | -22.00M | -75.00M | ||||
| Total Debt Repaid | -83.00M | -50.00M | -247.00M | -75.00M | -10.50M | |
| Net Debt Issued (Repaid) | 45.10M | 184.20M | -50.00M | -247.00M | 222.00M | -10.50M |
| Issuance of Common Stock | 358.00K | 375.00K | 391.00K | 405.00K | 221.00K | 115.00K |
| Repurchase of Common Stock | -44.76M | -20.39M | -592.00K | -575.00K | -579.00K | -559.00K |
| Common Dividends Paid | -52.12M | -51.41M | -49.28M | -47.09M | -40.84M | -34.64M |
| Preferred Dividends Paid | -13.00K | -13.00K | -13.00K | -13.00K | -13.00K | -13.00K |
| Total Dividends Paid | -52.13M | -51.43M | -49.29M | -47.11M | -40.85M | -34.65M |
| Net Increase (Decrease) in Deposit Accounts | 270.48M | 72.38M | 180.44M | 259.90M | -274.79M | 698.60M |
| Other Financing Activities | -1.34M | -1.49M | -2.81M | -3.13M | -1.78M | -1.91M |
| Financing Cash Flow | 217.70M | 183.65M | 78.13M | -37.51M | -95.78M | 651.09M |
| Net Cash Flow | -77.07M | -26.89M | 16.38M | 21.54M | -552.96M | 433.31M |
| Free Cash Flow | 120.73M | 103.77M | 93.85M | 107.99M | 164.52M | 107.60M |
| Free Cash Flow Margin | 43.35% | 40.35% | 39.81% | 44.80% | 69.90% | 48.53% |
| Free Cash Flow Per Share | 4.75 | 4.02 | 3.64 | 4.20 | 6.40 | 4.20 |
| Cash Interest Paid | 144.44M | 158.97M | 185.26M | 128.53M | 36.11M | 18.47M |
| Cash Income Tax Paid | 23.41M | 16.74M | 23.75M | 14.07M | 20.58M | 25.95M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.52B | 1.46B | 1.75B | 1.66B | 1.85B | 2.03B |
| Last Close Price | 60.09 | 55.12 | 64.28 | 59.15 | 64.13 | 68.96 |
| PE Ratio | 13.78 | 14.09 | 18.76 | 17.67 | 17.82 | 21.18 |
| PS Ratio | 5.47 | 5.66 | 7.44 | 6.88 | 7.86 | 9.14 |
| PB Ratio | 2.04 | 1.91 | 2.56 | 2.55 | 3.25 | 2.88 |
| P/FCF Ratio | 12.63 | 14.04 | 18.69 | 15.35 | 11.24 | 18.84 |
| P/OCF Ratio | 11.34 | 12.68 | 17.11 | 14.54 | 10.92 | 17.82 |
| Debt / Equity Ratio | 0.15 | 0.27 | 0.04 | 0.12 | 0.52 | 0.11 |
| Debt / FCF Ratio | 0.89 | 1.98 | 0.27 | 0.71 | 1.80 | 0.70 |
| Net Debt / Equity Ratio | -0.01 | 0.09 | -0.21 | -0.12 | 0.29 | -0.86 |
| Net Debt / FCF Ratio | -0.07 | 0.62 | -1.52 | -0.69 | 1.01 | -5.65 |
| Return on Equity (ROE) | 15.37% | 14.29% | 14.02% | 15.39% | 16.30% | 14.06% |
| Return on Assets (ROA) | 1.61% | 1.51% | 1.42% | 1.45% | 1.60% | 1.55% |
| Earnings Yield | 7.26% | 7.10% | 5.33% | 5.66% | 5.61% | 4.72% |
| FCF Yield | 7.92% | 7.12% | 5.35% | 6.52% | 8.89% | 5.31% |
| Dividend Yield | 3.38% | 3.50% | 2.82% | 2.85% | 2.27% | 1.77% |
| Payout Ratio | 46.52% | 49.76% | 52.73% | 50.24% | 39.35% | 36.20% |
| Buyback Yield / Dilution | 1.44% | -0.12% | -0.18% | -0.04% | -0.36% | -0.18% |
| Total Shareholder Return | 4.81% | 3.38% | 2.64% | 2.81% | 1.91% | 1.59% |