Lakeland Financial Corp. has recently released its 10-K report, revealing a robust performance in 2025. The company operates as the bank holding company for Lake City Bank, offering a range of banking products and services in the United States. In 2025, Lakeland Financial Corp. reported a net income of $103.4 million, marking a 10.6% increase from the previous year. Diluted net income per common share was $4.01 in 2025, compared to $3.63 in 2024. The return on average total assets was 1.50% in 2025, up from 1.40% in 2024.
The company's total assets stood at $6.990 billion as of December 31, 2025, showing an increase of $311.6 million or 4.7% from the previous year. This growth was primarily driven by a $274.4 million increase in loans net of the allowance for credit losses and a $60.6 million increase in available-for-sale securities. Additionally, deposits increased by $72.4 million during 2025 to fund the balance sheet expansion.
Lakeland Financial Corp. saw an increase in net interest income of $24.3 million in 2025, contributing to the growth in net income. However, there was a decrease in noninterest income of $8.9 million and an increase in noninterest expense of $6.5 million, partially offsetting the positive contributions to net income.
The provision for credit losses decreased by $5.0 million in 2025, further supporting the increase in net income. The company maintained an allowance for credit losses to provide for expected credit losses, with the allowance balance being comprised of specific allocations and pooled allocations.
Looking ahead, Lakeland Financial Corp. plans to continue its organic balance sheet growth, disciplined credit philosophy, and investments in human and technological capital. It also aims to expand its branch network into Boone County, Indiana, and further into Indianapolis, South Bend, Fort Wayne, and Elkhart in the coming years as it seeks to establish itself as a recognized Midwest leader in community banking. The market has reacted to these announcements by moving the company's shares -0.23% to a price of $59.33. If you want to know more, read the company's complete 10-K report here.
