Lakeland Financial Corporation
- Open
- 61.99
- Day high
- 63.18
- Day low
- 61.74
- Prev close
- 61.72
- Volume
- 138K
- Mkt cap
- $1.6B
- P/E (TTM)
- 14.7
- EPS (TTM)
- $4.29
- P/B
- 2.1
- P/S
- 3.7
- Yield
- 3.24%
- Per share
- $2.04
- ▼Insiders net selling -$570K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions reducing (13F)
Lakeland Financial Corporation (LKFN) is a Financial Services company listed on NASDAQ. The stock is down 3% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Lakeland Financial Corporation (LKFN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LKFN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 27, 2026 | $1.01 | $1.04 | +3.0% | $70M | -1.0% |
| Jan 26, 2026 | $1.05 | $1.16 | +10.5% | $70M | -0.3% |
| Jul 25, 2025 | $0.93 | $1.04 | +11.8% | $66M | -3.5% |
| Apr 25, 2025 | $0.87 | $0.78 | -10.3% | $64M | -0.3% |
| Jan 24, 2025 | $0.89 | $0.94 | +5.6% | $64M | +1.7% |
| Oct 25, 2024 | $0.88 | $0.91 | +3.4% | $61M | -0.2% |
| Jul 25, 2024 | $0.85 | $0.87 | +2.4% | $69M | +13.2% |
| Apr 25, 2024 | $0.86 | $0.91 | +5.8% | $60M | -0.2% |
| Jan 25, 2024 | $0.89 | $1.16 | +30.3% | $66M | +9.7% |
| Oct 25, 2023 | $0.90 | $0.98 | +8.9% | $59M | -2.6% |
| Jul 21, 2023 | $0.91 | $0.57 | -37.4% | $60M | -1.3% |
| Jan 25, 2023 | $1.13 | $1.01 | -10.6% | $77M | +15.4% |
LKFN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 1, 2026 | Toothaker Bradley Jdirector | Sell | 5,900 | $60.62 |
| May 6, 2026 | ROSS STEVEN Ddirector | Sell | 19 | $62.50 |
| May 6, 2026 | Smith Brian Jdirector | Grant | 176 | — |
| May 6, 2026 | Toothaker Bradley Jdirector | Grant | 160 | — |
| May 6, 2026 | PICHON EMILY Edirector | Grant | 7 | — |
| May 6, 2026 | WELCH M SCOTTdirector | Grant | 510 | — |
| May 6, 2026 | Augsburger Blakedirector | Grant | 163 | — |
| May 6, 2026 | Starr Daniel Briandirector | Grant | 4 | — |
| May 6, 2026 | ROSS STEVEN Ddirector | Sell | 1,281 | $62.50 |
| May 6, 2026 | Truex Melinda Jodirector | Grant | 88 | — |
| May 6, 2026 | Abbasi Farazdirector | Grant | 21 | — |
| May 6, 2026 | Christian Darrianne Pdirector | Grant | 46 | — |
| May 1, 2026 | Ottinger Eric Hofficer: Executive Vice President | Sell | 2,136 | $61.49 |
| Mar 12, 2026 | WELCH M SCOTTdirector | Buy | 10,000 | $56.23 |
| Mar 10, 2026 | WELCH M SCOTTdirector | Buy | 5,000 | $55.45 |
Source: LKFN SEC Form 4 filings, latest Jun 1, 2026. For informational purposes only — not investment advice.
See the full LKFN insider & 13F page →Lakeland Financial Corporation company profile
Overview
Lakeland Financial Corporation (NASDAQ:LKFN) is a regional bank holding company founded in 1872 and headquartered in Warsaw, Indiana. The company operates primarily through its subsidiary Lake City Bank, serving communities across northern and central Indiana with 51 banking offices spanning fifteen counties. As a community-focused financial institution with over 150 years of history, Lakeland has established itself as a significant regional player in Indiana's banking market, providing traditional banking services alongside modern digital offerings to both individual and business customers.
Business
Lakeland Financial operates in the regional banking industry, which serves as an intermediary between depositors who want to earn interest on their money and borrowers who need capital for various purposes. Regional banks like Lakeland typically focus on specific geographic markets, offering more personalized service than large national banks while maintaining broader capabilities than small community banks. The company's core business revolves around traditional banking services delivered through Lake City Bank. On the deposit side, Lakeland accepts various types of customer deposits including checking accounts (both interest-bearing and non-interest bearing), savings accounts, money market accounts, and certificates of deposit. These deposits provide the funding base that banks use to make loans and investments. On the lending side, Lakeland offers several loan categories: commercial and industrial loans to businesses for working capital and equipment purchases, commercial real estate loans for property acquisitions and development, agricultural and agribusiness loans reflecting Indiana's farming economy, residential mortgage loans for home purchases, and various consumer loans for personal needs. Beyond traditional banking, Lakeland provides wealth management and trust services for affluent customers, corporate treasury management to help businesses manage their cash flows and payments, retail brokerage services including investment products like annuities and life insurance, and credit card services for both retail customers and merchants. The bank also offers modern digital banking platforms including mobile banking and online treasury management systems. The company primarily serves industries that are prominent in its Indiana market footprint, including commercial real estate, manufacturing, agriculture, construction, retail, wholesale trade, finance and insurance, accommodation and food services, and healthcare sectors.
Revenue model
Lakeland Financial makes money through the fundamental banking business model of net interest income - the difference between what it pays depositors for their funds and what it charges borrowers for loans. This spread, known as the net interest margin, constitutes the primary revenue source for most regional banks. The company's paying customers fall into two main categories: depositors who provide funding by placing money in various account types, and borrowers who pay interest and fees for loans. Additionally, Lakeland generates fee income from wealth management services, treasury management, credit card processing, and brokerage services. Several factors can significantly impact Lakeland's profitability margins. Interest rate environments are crucial - when rates rise, banks can typically charge more for loans faster than they increase deposit rates, expanding margins. Conversely, falling rates can compress margins. Credit quality directly affects profitability, as loan losses reduce net income. Economic conditions in Indiana's manufacturing and agricultural sectors particularly matter given Lakeland's geographic concentration. Competition from other regional banks, national banks, and credit unions can pressure both loan pricing and deposit rates. The bank must also invest in technology to compete with digital-first financial services companies. Regulatory costs and compliance requirements represent ongoing expense pressures, while operational efficiency through branch optimization and technology investments can help maintain margins. The company's fee-based services like wealth management and treasury services provide some revenue diversification beyond pure interest income, helping stabilize earnings during challenging interest rate cycles. However, these services typically represent a smaller portion of total revenue compared to net interest income.
Competitive moat
Lakeland Financial's competitive moat is moderate and primarily derived from its local market position rather than unique structural advantages. The company benefits from its long-established presence in northern Indiana, where it has built relationships over 150+ years and developed deep knowledge of local businesses and economic conditions. The bank's relationship-based approach provides some protection against larger national competitors who may offer less personalized service. Local decision-making authority and understanding of regional industries like agriculture and manufacturing can be valuable differentiators. Additionally, the switching costs for business customers with complex treasury management and lending relationships create some customer stickiness. However, Lakeland's moat faces significant challenges. Geographic concentration in Indiana limits diversification and makes the bank vulnerable to regional economic downturns. The banking industry has low barriers to entry for well-capitalized competitors, and large national banks can compete aggressively on pricing when they choose to focus on specific markets. Technology disruption poses an ongoing threat, as fintech companies and digital-first banks can offer convenient services without the overhead of physical branches. Credit unions with tax advantages and large banks with scale economies can pressure margins. The commoditized nature of basic banking services means that differentiation often comes down to service quality and relationships, which can be difficult to maintain as customers increasingly value digital convenience over personal relationships. Overall, while Lakeland has carved out a respectable position in its markets, the banking industry's competitive dynamics and the company's regional focus suggest the moat is narrow and requires constant reinforcement through superior execution and customer service.
Risks & safety
Lakeland Financial demonstrates solid financial stability with strong capitalization and conservative risk management, though typical banking sector risks remain. • Liquidity position: Strong with $235 million in cash and short-term investments as of Q1 2025, providing substantial liquidity buffer • Debt levels: Minimal debt-to-equity ratio near zero, indicating conservative capital structure • Solvency risk: Low given strong equity base of approximately $694 million and consistent profitability • Cash generation: Positive operating cash flows of $29 million in Q1 2025, with healthy free cash flow generation • Valuation metrics: Trading at reasonable P/E of 19.0x and price-to-book of 2.2x, not excessive for a profitable regional bank • Profitability: Consistent earnings with ROE of 13.7% in 2024, indicating efficient capital utilization • Asset quality: Total assets of $6.85 billion provide scale, though geographic concentration in Indiana creates some risk
Recent development
Based on the financial data trends, Lakeland Financial has focused on several key strategic areas in recent years. The company has maintained consistent profitability with net income ranging from $93-104 million annually between 2022-2024, demonstrating stable earnings generation despite varying interest rate environments. The bank has emphasized balance sheet optimization, with total assets growing from $6.4 billion in 2022 to $6.85 billion in Q1 2025, indicating measured expansion. Cash positions have fluctuated significantly, from $130 million in 2022 to over $235 million in Q1 2025, suggesting active liquidity management in response to market conditions. Operational efficiency appears to be a focus area, with the company generating strong free cash flows consistently above $90 million annually. The maintenance of a conservative capital structure with minimal debt levels reflects a risk-conscious approach to growth and expansion. Revenue performance has shown some volatility, with quarterly revenues ranging from $61-114 million, likely reflecting the impact of interest rate changes on net interest margins and fee income. The company has maintained its dividend-paying status while preserving capital strength, balancing shareholder returns with financial stability.
LKFN company profile · for informational purposes only — not investment advice.
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