Lakeland Financial Corporation (LKFN)

Lakeland Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	336.86	337.77	308.02	203.67	170.55	177.19
Interest Income on Investments	35.72	35.39	35.25	35.9	22.67	15.92
Total Interest Income	372.58	373.16	343.27	239.57	193.22	193.1
Interest Paid on Deposits	168.05	172.76	137.79	36.28	14.83	29.34
Interest Paid on Borrowings	2.39	3.72	8.44	0.4	0.3	0.75
Total Interest Expense	170.44	176.48	146.23	36.68	15.13	30.1
Net Interest Income	202.14	196.68	197.04	202.89	178.09	163.01
Net Interest Income Growth (YoY)	4.77%	-0.18%	-2.88%	13.93%	9.25%	5.13%
Trust Income	10.88	10.47	9.08	8.64	8.75	7.47
Mortgage Banking Activities	0.01	0.12	-0.25	0.63	1.42	3.91
Gain (Loss) on Sale of Investments	9	8.95	-0.03	0.02	0.8	0.43
Other Non-Interest Income	25.03	26.15	30.28	20.98	23.15	24.92
Total Non-Interest Income	56.16	56.84	49.86	41.86	44.72	46.84
Non-Interest Income Growth (YoY)	9.78%	14.01%	19.10%	-6.39%	-4.53%	4.10%
Revenues Before Loan Losses	258.3	253.52	246.89	244.75	222.81	209.85
Provision for Loan Losses	22.03	16.75	5.85	9.38	1.08	14.77
Revenue	236.27	236.77	241.04	235.37	221.73	195.08
Revenue Growth (YoY)	-1.99%	-1.77%	2.41%	6.15%	13.66%	-0.88%
Salaries and Employee Benefits	61.86	62.14	55.49	50.72	50.72	47.62
Occupancy Expenses	6.34	6.12	5.62	5.6	5.17	5.29
Federal Deposit Insurance	3.48	3.47	3.36	2	2.24	1.71
Selling, General & Administrative	41.73	40.02	37.42	38.77	37.25	28.39
Other Non-Interest Expense	9.2	8.8	10.76	13.12	8.91	8.2
Total Non-Interest Expense	122.61	120.55	112.65	110.21	104.29	91.21
EBT Excluding Unusual Items	113.66	116.23	128.39	125.16	117.44	103.88
Legal Settlements	-4.54	-4.54	-	-	-	-
Other Unusual Items	-	-	-18.06	-	-	-
Pretax Income	108.13	111.69	110.33	125.16	117.44	103.88
Income Tax Expense	17.96	18.21	16.57	21.35	21.71	19.54
Net Income	90.16	93.48	93.77	103.82	95.73	84.34
Net Income to Common	90.16	93.48	93.77	103.82	95.73	84.34
Net Income Growth	-2.94%	-0.31%	-9.68%	8.44%	13.51%	-3.11%
Basic Shares Outstanding	26	26	26	26	25	25
Diluted Shares Outstanding	26	26	26	26	26	26
Shares Change (YoY)	0.23%	0.18%	0.04%	0.36%	0.18%	-0.72%
EPS (Basic)	3.51	3.64	3.66	4.07	3.76	3.31
EPS (Diluted)	3.50	3.63	3.65	4.04	3.74	3.30
EPS Growth	-3.32%	-0.55%	-9.65%	8.02%	13.33%	-2.37%
Dividend Per Share	1.960	1.940	1.860	1.660	1.420	1.240
Dividend Growth	4.25%	4.30%	12.05%	16.90%	14.52%	3.33%
Effective Tax Rate	16.61%	16.30%	15.02%	17.05%	18.49%	18.81%

Updated Apr 25, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q