Lakeland Financial Corporation, the parent company of Lake City Bank, has reported strong financial performance for the fourth quarter of 2025 and the full year ended December 31, 2025. The company's net income for the fourth quarter of 2025 was $29.9 million, representing a 24% increase from the same period in 2024. For the full year 2025, net income grew by 11% to $103.4 million compared to 2024.
The diluted earnings per share for the fourth quarter of 2025 were $1.16, marking a 23% increase from the fourth quarter of 2024. For the full year 2025, diluted earnings per share increased by 10% to $4.01 compared to 2024.
Pretax pre-provision earnings for the full year 2025 were $137.4 million, up by 7% from 2024. Core operational profitability also improved by 16% to $103.4 million for the full year 2025, compared to 2024.
The company's total revenue for the fourth quarter of 2025 was $69.8 million, a 10% increase compared to the fourth quarter of 2024. For the full year 2025, total revenue grew by 6% to $269.0 million compared to 2024.
The return on average equity for the fourth quarter of 2025 improved to 15.59%, compared to 13.87% in the same period of 2024. Similarly, the return on average assets increased to 1.70% from 1.42% in the fourth quarter of 2024.
The net interest margin for the fourth quarter of 2025 was reported at 3.48%, representing a 23 basis point increase from the fourth quarter of 2024. Net interest income also saw a significant 11% increase from the same period in 2024.
Average total loans for the fourth quarter of 2025 increased by 4% to $5.27 billion from the fourth quarter of 2024. The company experienced growth in all primary loan segments within the portfolio.
On the deposit side, total deposits increased by 1% from December 2024 to December 2025, primarily driven by an increase in core deposits of 1%. Public funds deposits grew annually by 9%, while commercial deposits contracted by 4% and retail deposits contracted by 1%.
The company's total capital as a percentage of risk-weighted assets was 15.92% at December 31, 2025, exceeding the 10.00% regulatory threshold required to be characterized as "well capitalized."
Additionally, the board of directors approved a cash dividend for the fourth quarter of $0.52 per share, representing a 4% increase from the fourth quarter of 2024. The company also utilized its share repurchase program during the fourth quarter of 2025 and repurchased 307,590 shares of its common stock for $17.9 million at a weighted average price per share of $58.23.
Following these announcements, the company's shares moved -0.23%, and are now trading at a price of $59.33. If you want to know more, read the company's complete 8-K report here.
