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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	336.71	337.77	308.02	203.67	170.55	177.19
Interest Income on Investments	36.52	35.39	35.25	35.9	22.67	15.92
Total Interest Income	373.23	373.16	343.27	239.57	193.22	193.1
Interest Paid on Deposits	162.8	172.76	137.79	36.28	14.83	29.34
Interest Paid on Borrowings	1.71	3.72	8.44	0.4	0.3	0.75
Total Interest Expense	164.51	176.48	146.23	36.68	15.13	30.1
Net Interest Income	208.72	196.68	197.04	202.89	178.09	163.01
Net Interest Income Growth (YoY)	8.31%	-0.18%	-2.88%	13.93%	9.25%	5.13%
Trust Income	10.95	10.47	9.08	8.64	8.75	7.47
Mortgage Banking Activities	0.11	0.12	-0.25	0.63	1.42	3.91
Gain (Loss) on Sale of Investments	-0.02	8.95	-0.03	0.02	0.8	0.43
Other Non-Interest Income	24.9	26.15	30.28	20.98	23.15	24.92
Total Non-Interest Income	47.21	56.84	49.86	41.86	44.72	46.84
Non-Interest Income Growth (YoY)	-21.45%	14.01%	19.10%	-6.39%	-4.53%	4.10%
Revenues Before Loan Losses	255.93	253.52	246.89	244.75	222.81	209.85
Provision for Loan Losses	16.55	16.75	5.85	9.38	1.08	14.77
Revenue	239.38	236.77	241.04	235.37	221.73	195.08
Revenue Growth (YoY)	-1.13%	-1.77%	2.41%	6.15%	13.66%	-0.88%
Salaries and Employee Benefits	63.46	62.14	55.49	50.72	50.72	47.62
Occupancy Expenses	6.36	6.12	5.62	5.6	5.17	5.29
Federal Deposit Insurance	3.5	3.47	3.36	2	2.24	1.71
Selling, General & Administrative	41.01	40.02	37.42	38.77	37.25	28.39
Other Non-Interest Expense	9.92	8.8	10.76	13.12	8.91	8.2
Total Non-Interest Expense	124.24	120.55	112.65	110.21	104.29	91.21
EBT Excluding Unusual Items	115.13	116.23	128.39	125.16	117.44	103.88
Legal Settlements	-	-4.54	-	-	-	-
Other Unusual Items	-	-	-18.06	-	-	-
Pretax Income	114.13	111.69	110.33	125.16	117.44	103.88
Income Tax Expense	19.56	18.21	16.57	21.35	21.71	19.54
Net Income	94.58	93.48	93.77	103.82	95.73	84.34
Net Income to Common	94.58	93.48	93.77	103.82	95.73	84.34
Net Income Growth	-6.20%	-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)	0.15%	0.18%	0.04%	0.36%	0.18%	-0.72%
EPS (Basic)	3.68	3.64	3.66	4.07	3.76	3.31
EPS (Diluted)	3.67	3.63	3.65	4.04	3.74	3.30
EPS Growth	-6.36%	-0.55%	-9.65%	8.02%	13.33%	-2.37%
Dividend Per Share	1.980	1.940	1.860	1.660	1.420	1.240
Dividend Growth	4.21%	4.30%	12.05%	16.90%	14.52%	3.33%
Effective Tax Rate	17.13%	16.30%	15.02%	17.05%	18.49%	18.81%

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

SEC Filings: 10-K · 10-Q