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Lakeland Financial Corporation(LKFN)Earnings, Financials & Key Ratios
LKFN•NASDAQ•Banking & Credit
$62.18
$1.62B mkt cap·15.5× P/E·Price updated May 6, 2026
AboutLakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans. The company also offers retail and merchant credit card services; corporate treasury management, wealth advisory, and trust services; retail brokerage services, including various financial and investment products, such as annuities and life insurance; and mobile business banking and on-line treasury management services. It serves commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and health care industries. As of December 31, 2021, the company operated 51 offices in fifteen counties, including 45 offices in northern Indiana and six offices in central Indiana. Lakeland Financial Corporation was founded in 1872 and is headquartered in Warsaw, Indiana.Show more
- Net Interest Income$221M+12.4%
- Total Revenue$422M-1.9%
- Net Income$103M+10.6%
- Return on Equity14.29%+2.0%
- Net Interest Margin3.16%+7.4%
- Efficiency Ratio31.21%+7.3%
- ROA1.51%+6.8%
- Equity / Assets10.91%+6.5%
- Book Value per Share29.59+11.5%
- Tangible BV/Share29.40+11.6%
- Debt/Equity0.24
LKFN Key Insights
Lakeland Financial Corporation (LKFN) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Efficient operations: 31.2% efficiency ratio
- ✓12 consecutive years of dividend growth
- ✓Well capitalized: 10.9% equity/assets
- ✓Healthy dividend yield of 3.2%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
LKFN Price & Volume
Lakeland Financial Corporation (LKFN) stock price & volume — 10-year historical chart
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LKFN Growth Metrics
Lakeland Financial Corporation (LKFN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years11.16%
5 Years13.08%
3 Years14.43%
TTM-
Profit CAGR
10 Years8.35%
5 Years4.15%
3 Years-0.15%
TTM10.57%
EPS CAGR
10 Years8.16%
5 Years3.97%
3 Years-0.25%
TTM10.47%
Return on Capital
10 Years15.35%
5 Years14.37%
3 Years14.35%
Last Year15.84%
LKFN Peer Comparison
Lakeland Financial Corporation (LKFN) competitors in Banks with large fee businesses — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FFIN | 4.58B | 32.22 | 20.65 | 18.79% | 30.24% | 13.25% | 6.39% | 0.12 |
 TOWN | 2.67B | 34.97 | 15.82 | -1.61% | 16.82% | 7.28% | 7.92% | 0.15 |
 SFNC | 3.1B | 21.42 | -7.26 | -56.66% | -63.43% | -11.63% | 14.5% | 0.19 |
 FULT | 4.15B | 21.58 | 10.38 | 5.03% | 20.71% | 11.6% | 6.85% | 0.37 |
 IBCP | 690.04M | 33.52 | 10.25 | -0.3% | 21.73% | 14.2% | 10.17% | 0.23 |
 NBTB | 2.33B | 44.69 | 13.42 | 10.36% | 19.51% | 9.51% | 9.38% | 0.17 |
 HBAN | 25.97B | 16.41 | 11.81 | 4.38% | 17.71% | 10.04% | 8.77% | 0.76 |
 FITB | 33.69B | 50.30 | 16.02 | 5.62% | 17.73% | 11.43% | 7.15% | 0.97 |
Compare LKFN vs Peers
Lakeland Financial Corporation (LKFN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
LKFN Income Statement
Lakeland Financial Corporation (LKFN) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 135.89M | 151.27M | 155.05M | 163.01M | 178.09M | 202.89M | 197.03M | 196.68M | 221.02M |
| NII Growth % | 14.7% | 11.32% | 2.5% | 5.13% | 9.25% | 13.93% | -2.88% | -0.18% | 12.37% |
| Net Interest Margin % | 2.9% | 3.1% | 3.13% | 2.8% | 2.72% | 3.15% | 3.02% | 2.95% | 3.16% |
| Interest Income | 165.7M | 198.97M | 215.21M | 193.1M | 193.22M | 239.57M | 343.27M | 373.16M | 373.74M |
| Interest Expense | 29.81M | 47.7M | 60.16M | 30.09M | 15.13M | 36.68M | 146.23M | 176.48M | 152.72M |
| Loan Loss Provision | 3M | 6.4M | 3.23M | 14.77M | 1.08M | 9.38M | 5.85M | 16.75M | 11.8M |
| Non-Interest Income | 27.81M | 30.62M | 34.59M | 34.98M | 44.72M | 41.86M | 49.86M | 56.84M | 47.97M |
| Non-Interest Income % | 14.37% | 13.34% | 13.85% | 15.34% | 18.79% | 14.87% | 12.68% | 13.22% | 11.38% |
| Total Revenue | 193.5M▲ 0% | 229.59M▲ 18.6% | 249.8M▲ 8.8% | 228.08M▼ 8.7% | 237.94M▲ 4.3% | 281.43M▲ 18.3% | 393.13M▲ 39.7% | 430M▲ 9.4% | 421.71M▼ 1.9% |
| Revenue Growth % | 18.23% | 18.65% | 8.8% | -8.69% | 4.32% | 18.28% | 39.69% | 9.38% | -1.93% |
| Non-Interest Expense | 71.06M | 76.54M | 79.02M | 79.34M | 104.29M | 110.21M | 130.71M | 125.08M | 131.6M |
| Efficiency Ratio | 36.73% | 33.34% | 31.63% | 34.79% | 43.83% | 39.16% | 33.25% | 29.09% | 31.21% |
| Operating Income | 89.63M▲ 0% | 98.94M▲ 10.4% | 107.39M▲ 8.5% | 103.88M▼ 3.3% | 117.44M▲ 13.1% | 125.16M▲ 6.6% | 110.33M▼ 11.8% | 111.69M▲ 1.2% | 125.58M▲ 12.4% |
| Operating Margin % | 46.32% | 43.1% | 42.99% | 45.54% | 49.36% | 44.47% | 28.07% | 25.97% | 29.78% |
| Operating Income Growth % | 16.08% | 10.39% | 8.53% | -3.27% | 13.06% | 6.57% | -11.85% | 1.23% | 12.44% |
| Pretax Income | 89.63M▲ 0% | 98.94M▲ 10.4% | 107.39M▲ 8.5% | 103.88M▼ 3.3% | 117.44M▲ 13.1% | 125.16M▲ 6.6% | 110.33M▼ 11.8% | 111.69M▲ 1.2% | 125.58M▲ 12.4% |
| Pretax Margin % | 46.32% | 43.1% | 42.99% | 45.54% | 49.36% | 44.47% | 28.07% | 25.97% | 29.78% |
| Income Tax | 32.3M | 18.53M | 20.34M | 19.54M | 21.71M | 21.35M | 16.57M | 18.21M | 22.22M |
| Effective Tax Rate % | 36.04% | 18.73% | 18.94% | 18.81% | 18.49% | 17.06% | 15.01% | 16.31% | 17.7% |
| Net Income | 57.33M▲ 0% | 80.41M▲ 40.3% | 87.05M▲ 8.3% | 84.34M▼ 3.1% | 95.73M▲ 13.5% | 103.82M▲ 8.4% | 93.77M▼ 9.7% | 93.48M▼ 0.3% | 103.36M▲ 10.6% |
| Net Margin % | 29.63% | 35.02% | 34.85% | 36.98% | 40.23% | 36.89% | 23.85% | 21.74% | 24.51% |
| Net Income Growth % | 10.07% | 40.26% | 8.25% | -3.11% | 13.51% | 8.44% | -9.68% | -0.31% | 10.57% |
| Net Income (Continuing) | 57.33M | 80.41M | 87.05M | 84.34M | 95.73M | 103.82M | 93.77M | 93.48M | 103.36M |
| EPS (Diluted) | 2.23▲ 0% | 3.13▲ 40.4% | 3.38▲ 8.0% | 3.30▼ 2.4% | 3.74▲ 13.3% | 4.04▲ 8.0% | 3.65▼ 9.7% | 3.63▼ 0.5% | 4.01▲ 10.5% |
| EPS Growth % | 8.78% | 40.36% | 7.99% | -2.37% | 13.33% | 8.02% | -9.65% | -0.55% | 10.47% |
| EPS (Basic) | 2.28 | 3.18 | 3.40 | 3.31 | 3.76 | 4.07 | 3.66 | 3.64 | 4.02 |
| Diluted Shares Outstanding | 25.66M | 25.73M | 25.76M | 25.57M | 25.62M | 25.71M | 25.72M | 25.77M | 25.77M |
LKFN Balance Sheet
Lakeland Financial Corporation (LKFN) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 714.67M | 802.47M | 707.61M | 984.77M | 2.08B | 1.32B | 1.2B | 591.05M | 141.32M |
| Cash & Due from Banks | 176.18M | 216.92M | 99.38M | 249.93M | 683.24M | 130.28M | 151.82M | 168.21M | 57.14M |
| Short Term Investments | 538.49M | 585.55M | 608.23M | 734.85M | 1.4B | 1.19B | 1.05B | 422.85M | 84.18M |
| Total Investments | 4.31B | 4.45B | 4.63B | 5.33B | 5.63B | 5.95B | 6.03B | 6.16B | 5.39B |
| Investments Growth % | 9.55% | 3.27% | 3.9% | 15.25% | 5.48% | 5.79% | 1.27% | 2.15% | -12.44% |
| Long-Term Investments | 3.77B | 3.87B | 4.02B | 4.6B | 4.23B | 4.77B | 4.98B | 5.73B | 5.31B |
| Accounts Receivables | 14.09M | 15.52M | 15.39M | 18.76M | 17.67M | 27.99M | 30.01M | 28.45M | 29M |
| Goodwill & Intangibles | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M |
| Goodwill | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M | 4.97M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 56.47M | 58.1M | 60.37M | 59.3M | 59.31M | 58.1M | 57.9M | 60.49M | 65.54M |
| Other Assets | 118.09M | 125.61M | 138.7M | 163.67M | 166.03M | 259.11M | 251.96M | 259.58M | 1.44B |
| Total Current Assets | 728.77M | 817.99M | 723M | 1B | 2.1B | 1.34B | 1.23B | 619.5M | 170.31M |
| Total Non-Current Assets | 3.95B | 4.06B | 4.22B | 4.83B | 4.46B | 5.09B | 5.29B | 6.06B | 6.82B |
| Total Assets | 4.68B▲ 0% | 4.88B▲ 4.1% | 4.95B▲ 1.5% | 5.83B▲ 17.9% | 6.56B▲ 12.5% | 6.43B▼ 1.9% | 6.52B▲ 1.4% | 6.68B▲ 2.4% | 6.99B▲ 4.7% |
| Asset Growth % | 9.16% | 4.11% | 1.47% | 17.86% | 12.47% | -1.91% | 1.42% | 2.37% | 4.67% |
| Return on Assets (ROA) | 1.28% | 1.68% | 1.77% | 1.57% | 1.55% | 1.6% | 1.45% | 1.42% | 1.51% |
| Accounts Payable | 6.31M | 10.4M | 11.6M | 5.96M | 2.62M | 3.19M | 20.89M | 15.12M | 0 |
| Total Debt | 181.61M | 446.48M | 170M | 85.5M | 75M | 297M | 50M | 0 | 184.2M |
| Net Debt | 5.43M | 229.56M | 70.62M | -164.43M | -608.24M | 166.72M | -101.82M | -168.21M | 127.06M |
| Long-Term Debt | 30.93M | 200.93M | 170M | 85.5M | 75M | 275M | 50M | 0 | 14.2M |
| Short-Term Debt | 150.68M | 245.56M | 0 | 0 | 0 | 22M | 0 | 0 | 170M |
| Other Liabilities | 17.73M | -147.4M | 33.22M | 44.99M | 39.39M | 102.68M | 82.82M | 78.38M | 46.91M |
| Total Current Liabilities | 4.17B | 4.3B | 4.15B | 5.04B | 5.74B | 5.49B | 5.74B | 5.92B | 6.17B |
| Total Non-Current Liabilities | 48.66M | 53.53M | 203.22M | 130.49M | 114.39M | 377.68M | 132.82M | 78.38M | 61.11M |
| Total Liabilities | 4.21B | 4.35B | 4.35B | 5.17B | 5.85B | 5.86B | 5.87B | 5.99B | 6.23B |
| Total Equity | 468.67M▲ 0% | 521.7M▲ 11.3% | 598.1M▲ 14.6% | 657.18M▲ 9.9% | 704.91M▲ 7.3% | 568.89M▼ 19.3% | 649.79M▲ 14.2% | 683.91M▲ 5.3% | 762.49M▲ 11.5% |
| Equity Growth % | 9.74% | 11.32% | 14.64% | 9.88% | 7.26% | -19.3% | 14.22% | 5.25% | 11.49% |
| Equity / Assets (Capital Ratio) | 10.01% | 10.7% | 12.09% | 11.27% | 10.75% | 8.84% | 9.96% | 10.24% | 10.91% |
| Return on Equity (ROE) | 12.8% | 16.24% | 15.55% | 13.44% | 14.06% | 16.3% | 15.39% | 14.02% | 14.29% |
| Book Value per Share | 18.26 | 20.28 | 23.22 | 25.70 | 27.51 | 22.12 | 25.26 | 26.54 | 29.59 |
| Tangible BV per Share | 18.07 | 20.08 | 23.03 | 25.50 | 27.32 | 21.93 | 25.07 | 26.35 | 29.40 |
| Common Stock | 108.86M | 112.38M | 114.86M | 114.93M | 120.61M | 127M | 127.69M | 129.66M | 136.97M |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 363.79M | 419.18M | 475.25M | 529M | 583.13M | 646.1M | 692.76M | 736.41M | 788.35M |
| Accumulated OCI | -670K | -6.19M | 12.06M | 27.74M | 16.09M | -188.92M | -155.19M | -166.5M | -127.14M |
| Treasury Stock | -3.41M | -3.76M | -4.15M | -14.58M | -15.03M | -15.38M | -15.55M | -15.75M | -35.77M |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
LKFN Cash Flow Statement
Lakeland Financial Corporation (LKFN) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 77.24M | 104.97M | 100.04M | 87.23M | 113.77M | 169.34M | 113.98M | 102.48M | 114.89M |
| Operating CF Growth % | 24.19% | 35.9% | -4.7% | -12.81% | 30.43% | 48.85% | -32.69% | -10.09% | 12.1% |
| Net Income | 57.33M | 80.41M | 87.05M | 84.34M | 95.73M | 103.82M | 93.77M | 93.48M | 103.36M |
| Depreciation & Amortization | 5.72M | 6.16M | 6.46M | 6.81M | 8.39M | 6.78M | 6.17M | 5.95M | 5.98M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 5.13M | 7.62M | 546K | 8.36M | 4.71M | 20.9M | 6.48M | 7.84M | 10.45M |
| Working Capital Changes | 3.37M | 5.18M | 1.8M | -14.08M | -2.22M | 30.04M | 3.91M | -9.37M | -13.46M |
| Cash from Investing | -396.05M | -166.44M | -168.69M | -712.02M | -331.55M | -626.52M | -54.93M | -164.24M | -325.42M |
| Purchase of Investments | -139.25M | -126.55M | -129.45M | -216.48M | -835M | -315.27M | -7.18M | -27.52M | -83.35M |
| Sale/Maturity of Investments | 102.62M | 69.12M | 124.93M | 106.02M | 151.78M | 133.49M | 177.01M | 75.8M | 66.83M |
| Net Investment Activity | -36.63M | -57.43M | -4.52M | -110.46M | -683.23M | -181.78M | 169.84M | 48.28M | -16.51M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -349.84M | -101.04M | -156.17M | -595.84M | 357.85M | -439.92M | -218.78M | -203.88M | -297.79M |
| Cash from Financing | 327.71M | 102.21M | -48.89M | 775.34M | 651.09M | -95.78M | -37.51M | 78.13M | 183.65M |
| Dividends Paid | -21.41M | -25.29M | -29.65M | -30.58M | -34.65M | -40.85M | -47.11M | -49.29M | -51.43M |
| Share Repurchases | -495K | -463K | -515K | -10.55M | -559K | -579K | -575K | -592K | -20.39M |
| Stock Issued | 0 | 115K | 118K | 119K | 115K | 221K | 405K | 391K | -1.12M |
| Net Stock Activity | -495K | -348K | -397K | -10.43M | -444K | -358K | -170K | -201K | -21.51M |
| Debt Issuance (Net) | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | 1000K |
| Other Financing | 429.01M | 32.98M | 87.64M | 900.85M | 696.69M | -276.57M | 256.77M | 177.63M | 72.38M |
| Net Change in Cash | 8.9M▲ 0% | 40.74M▲ 357.8% | -117.54M▼ 388.5% | 150.55M▲ 228.1% | 433.31M▲ 187.8% | -552.96M▼ 227.6% | 21.54M▲ 103.9% | 16.38M▼ 24.0% | -26.89M▼ 264.1% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 167.28M | 176.18M | 216.92M | 99.38M | 249.93M | 683.24M | 130.28M | 151.82M | 168.21M |
| Cash at End | 176.18M | 216.92M | 99.38M | 249.93M | 683.24M | 130.28M | 151.82M | 168.21M | 141.32M |
| Interest Paid | 29.17M | 43.61M | 58.96M | 35.74M | 18.47M | 36.11M | 128.53M | 185.26M | 158.97M |
| Income Taxes Paid | 29.12M | 19.03M | 21.04M | 19.36M | 25.95M | 20.58M | 14.07M | 23.75M | 16.74M |
| Free Cash Flow | 67.66M▲ 0% | 97.01M▲ 43.4% | 92.04M▼ 5.1% | 81.51M▼ 11.4% | 107.6M▲ 32.0% | 164.52M▲ 52.9% | 107.99M▼ 34.4% | 93.85M▼ 13.1% | 103.77M▲ 10.6% |
| FCF Growth % | 29.19% | 43.37% | -5.12% | -11.44% | 32.01% | 52.9% | -34.36% | -13.09% | 10.56% |
LKFN Banking Ratios
Lakeland Financial Corporation (LKFN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 12.7% | 12.8% | 16.24% | 15.55% | 13.44% | 14.06% | 16.3% | 15.39% | 14.02% | 14.29% |
| Return on Assets (ROA) | 1.29% | 1.28% | 1.68% | 1.77% | 1.57% | 1.55% | 1.6% | 1.45% | 1.42% | 1.51% |
| Net Interest Margin | 2.76% | 2.9% | 3.1% | 3.13% | 2.8% | 2.72% | 3.15% | 3.02% | 2.95% | 3.16% |
| Efficiency Ratio | 39.61% | 36.73% | 33.34% | 31.63% | 34.79% | 43.83% | 39.16% | 33.25% | 29.09% | 31.21% |
| Equity / Assets | 9.95% | 10.01% | 10.7% | 12.09% | 11.27% | 10.75% | 8.84% | 9.96% | 10.24% | 10.91% |
| Book Value / Share | 16.77 | 18.26 | 20.28 | 23.22 | 25.7 | 27.51 | 22.12 | 25.26 | 26.54 | 29.59 |
| NII Growth | 11.85% | 14.7% | 11.32% | 2.5% | 5.13% | 9.25% | 13.93% | -2.88% | -0.18% | 12.37% |
| Dividend Payout | 34.94% | 37.32% | 31.44% | 34.05% | 36.24% | 36.18% | 39.34% | 50.22% | 52.72% | 49.74% |
LKFN SEC Filings & Documents
Lakeland Financial Corporation (LKFN) SEC filings — annual & quarterly reports (10-K, 10-Q)
LKFN Frequently Asked Questions
Lakeland Financial Corporation (LKFN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Lakeland Financial Corporation (LKFN) saw revenue decline by 1.9% over the past year.
Yes, Lakeland Financial Corporation (LKFN) is profitable, generating $103.4M in net income for fiscal year 2025 (24.5% net margin).
Dividend & Returns
Yes, Lakeland Financial Corporation (LKFN) pays a dividend with a yield of 3.21%. This makes it attractive for income-focused investors.
Lakeland Financial Corporation (LKFN) has a return on equity (ROE) of 14.3%. This is reasonable for most industries.
Industry Metrics
Lakeland Financial Corporation (LKFN) has a net interest margin (NIM) of 3.2%. This indicates healthy earnings from lending activities.
Lakeland Financial Corporation (LKFN) has an efficiency ratio of 31.2%. This is excellent, indicating strong cost control.
Explore More LKFN
Lakeland Financial Corporation (LKFN) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
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Dividend History
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Earnings History
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Price History
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Revenue History
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Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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