Lakeland Financial

LKFN · Nasdaq · Financials · Financials, fiscal 2016 to 2025

LKFN · Last close · November 6, 2026

$61.15

Lakeland Financial's revenue rose 6.1% to $269 million in fiscal 2025. Net income was $103 million, up 10.6%. Its return on equity was 14.3%, up from 14.0% a year earlier. Its efficiency ratio was 48.9%, down from 49.3% a year earlier. It paid out $72 million in dividends and buybacks. The diluted share count rose 0.1%.

LAKELAND FINANCIAL CORPORATION Latest fiscal year ended December 31, 2025 10-K filed February 25, 2026 · 0000721994-26-000018 Updated November 4, 2026

Revenue

$269M

6.1%

Net income

$103M

10.6%

Return on equity

14.3%

0.3 pts

Return on tangible equity

14.4%

0.3 pts

Efficiency ratio

48.9%

0.4 pts

Market cap

$1.5B

Nov 6 close

P/E

13.7x

On $4.47 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both. Revenue is net of interest expense.

Revenue (left axis)Net income (right axis)

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

From fiscal 2016 to 2025, earnings per share grew 7.7% a year and net income 7.9% a year, as new shares raised the share count by 1% and diluted each share's earnings.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Balance sheet

Loans and deposits

US$ billions, at each fiscal year end

Loans, netDeposits

Total assets and shareholders' equity

US$ billions, at each fiscal year end. Assets on the left axis, equity on the right.

Total assets (left axis)Equity (right axis)

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	4,220	4,638	4,845	5,032	5,306
Deposits	5,735	5,461	5,720	5,901	5,973
Loans to deposits	73.6%	84.9%	84.7%	85.3%	88.8%
Provision for credit losses	1	9	6	17	12
Provision to average loans	0.0%	0.2%	0.1%	0.3%	0.2%
Total assets	6,557	6,432	6,524	6,678	6,990
Shareholders' equity	705	569	650	684	762

US$ millions unless stated, at each fiscal year end.

Cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Lakeland Financial's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them. Every projected figure is yours: it is not a forecast of ours.

Open Lakeland Financial's projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 1 insider bought $1.4 million of Lakeland Financial shares on the open market, and 9 insiders sold $1.4 million.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Aug 5, 2026	Donald Robinson-GaySenior Vice President	Sold	500	$63.00	$31,500	Form 4
Jul 30, 2026	Kyra E ClarkSenior Vice President	Sold	250	$63.22	$15,805	Form 4
May 29, 2026	Bradley J ToothakerDirector	Sold	5,900	$60.62	$357,658	Form 4
May 6, 2026	Steven D RossDirector	Sold	1,281	$62.50	$80,062	Form 4
May 5, 2026	Steven D RossDirector	Sold	19	$62.50	$1,188	Form 4
May 1, 2026	Eric H OttingerExecutive Vice President	Sold	2,136	$61.49	$131,343	Form 4
Mar 12, 2026	Welch M ScottDirector	Bought	10,000	$56.23	$562,300	Form 4
Mar 9, 2026	Welch M ScottDirector	Bought	5,000	$55.45	$277,250	Form 4
Feb 27, 2026	Welch M ScottDirector	Bought	10,000	$57.95	$579,500	Form 4
Feb 23, 2026	Bradley J ToothakerDirector	Sold	5,685	$58.36	$331,777	Form 4
Feb 4, 2026	David M FindlayCEO	Sold	3,000	$63.02	$189,060	Form 4
Feb 4, 2026	Stephanie R LeniskiExecutive Vice President	Sold	1,665	$62.76	$104,495	Form 4

The latest 12 of 14 trades. Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put Lakeland Financial side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
Lakeland Financial	FY25	6.1%	38.4%	14.3%	14.4%	48.9%
Hanmi Financial	FY25	15.3%	28.2%	10.0%	10.0%	54.7%	Compare
Westamerica Bank	FY25	−12.2%	45.0%	12.7%	14.7%	39.5%	Compare
Heritage Financial	FY25	13.5%	27.4%	7.6%	10.4%	67.3%	Compare
Eagle Bancorp	FY25	−3.1%	−46.1%	−11.7%	−11.7%	67.1%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	151	172	192	200	210	223	245	247	254	269
Revenue growth	10.1%	13.6%	11.4%	4.4%	4.9%	6.2%	9.8%	0.9%	2.7%	6.1%
Net interest income	118	136	151	155	163	178	203	197	197	221
Noninterest income	33	36	40	45	47	45	42	50	57	48
Noninterest expense	73	79	86	89	91	104	110	131	125	132
Provision for credit losses	1	3	6	3	15	1	9	6	17	12
Net income	52	57	80	87	84	96	104	94	94	103
Diluted EPS (US$)	2.05	2.23	3.13	3.38	3.30	3.74	4.04	3.65	3.63	4.01
Diluted shares (millions)	26	26	26	26	26	26	26	26	26	26
Payouts
Dividends paid	18	21	25	30	31	35	41	47	49	51
Share buybacks	0	0	0	0	10	1	1	1	1	20
Balance sheet at fiscal year end
Loans, net	3,427	3,771	3,866	4,015	4,588	4,220	4,638	4,845	5,032	5,306
Deposits	3,578	4,009	4,044	4,134	5,037	5,735	5,461	5,720	5,901	5,973
Total assets	4,290	4,683	4,875	4,947	5,830	6,557	6,432	6,524	6,678	6,990
Shareholders' equity	427	469	522	598	657	705	569	650	684	762
Ratios
Return on equity	12.7%	12.8%	16.2%	15.6%	13.4%	14.1%	16.3%	15.4%	14.0%	14.3%
Return on tangible common equity	12.9%	12.9%	16.4%	15.7%	13.6%	14.2%	16.4%	15.5%	14.1%	14.4%
Return on assets	1.3%	1.3%	1.7%	1.8%	1.6%	1.6%	1.6%	1.4%	1.4%	1.5%
Efficiency ratio	48.2%	46.1%	45.0%	44.7%	43.5%	46.8%	45.0%	52.9%	49.3%	48.9%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Lakeland Financial's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Lakeland Financial.