Lakeland Financial (Lake City Bank) reported FY 2025 net income of USD 103.4 million (+10.6%), with diluted EPS of USD 4.01. Return on average assets was 1.50% and return on average total equity was 14.40% in FY 2025, while the dividend payout ratio was 49.88%. Net interest income rose to USD 221.0 million (+12.4%) and net interest margin expanded to 3.45% (from 3.18%), driven primarily by lower funding costs; total deposit funding costs declined to 2.50% in FY 2025. Noninterest income was USD 48.0 million (-15.6%), reflecting that FY 2024 included a USD 9.0 million net gain on Visa shares and a USD 1.0 million insurance recovery. Noninterest expense increased to USD 131.6 million (+5.2%). Provision for credit losses was USD 11.8 million (down 29.6%), and Lakeland recorded net charge-offs of USD 28.8 million (0.55% of average loans), primarily tied to a previously disclosed nonperforming commercial credit that was partially charged off in FY 2025. At December 31, 2025, total assets were USD 6.990 billion (+4.7%), loans were USD 5.375 billion (+5.0%), and deposits were USD 5.973 billion (+1.2%). Borrowings were USD 184.2 million at year-end 2025, compared with no borrowings at year-end 2024. The allowance for credit losses was USD 69.0 million, or 1.28% of total loans (vs. 1.68% at December 31, 2024), and nonperforming loans were USD 20.9 million, or 0.39% of total loans (vs. 1.10% at December 31, 2024). Operationally, Lakeland ended FY 2025 with 55 branches, continued organic expansion in northern Indiana and Indianapolis, and highlighted ongoing investments in people, technology and infrastructure, including completion plans for the Lake City Bank Innovation and Technology Center in downtown Warsaw. The company also outlined 2026 branch expansion into Boone County (Whitestown) and identified additional future expansion locations in Indianapolis, South Bend, Fort Wayne and Elkhart.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Lakeland Financial Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000721994-26-000018), on February 25, 2026, and is solely responsible for the information contained therein.
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