AI Earnings Predictions for Lakeland Financial Corporation (LKFN)

EX-99.1

2 lkfn-20260727exhibit991.htm

EX-99.1

Document

Exhibit 99.1

NEWS FROM LAKELAND FINANCIAL CORPORATION

FOR IMMEDIATE RELEASE

Contact

Lisa M. O’Neill

Executive Vice President and Chief Financial Officer

(574) 267-9125

lisa.oneill@lakecitybank.com

Lakeland Financial Reports Record Second Quarter Performance; Net Income Increases 5% to $28.4 million on 7% Revenue Expansion; Average Loans Grow by 6%

Warsaw, Indiana (July 27, 2026) – Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record second quarter net income of $28.4 million for the three months ended June 30, 2026, which represents an increase of $1.5 million, or 5%, compared to net income of $27.0 million for the three months ended June 30, 2025. Diluted earnings per share of $1.13 for the second quarter of 2026 also represents a record second quarter performance and increased $0.09, or 9%, compared to $1.04 for the second quarter of 2025. On a linked quarter basis, net income increased $2.0 million, or 7%, from $26.5 million. Diluted earnings per share increased $0.09, or 9%, from $1.04 on a linked quarter basis.

The company further reported record performance for the first half of the year with net income of $54.9 million for the six months ended June 30, 2026 versus $47.1 million for 2025, an increase of $7.9 million, or 17%. Diluted earnings per share increased $0.35, or 19%, to $2.17 for the six months ended June 30, 2026, versus $1.82 for 2025.

Total revenue was $70.9 million for the second quarter of 2026 representing an increase of $4.5 million, or 7%, as compared to $66.4 million for the second quarter of 2025. On a linked quarter basis, revenue increased by $1.2 million, or 2%, from $69.7 million in the first quarter of 2026. Total revenue increased by $10.4 million, or 8%, to $140.6 million for six months ended June 30, 2026, as compared to $130.2 million for 2025.

"During the first half of 2026, the Lake City Bank team delivered strong operating results led by healthy loan and revenue growth," stated David M. Findlay, Chairman and CEO. "Our record second quarter net income reflects the continued execution of our proven organic growth strategy. It's been a rewarding six months of 2026."

Quarterly Financial Performance

Second Quarter 2026 versus Second Quarter 2025 highlights:

•Loans grew by $352.8 million, or 7%, to $5.58 billion

•Total revenue improved by 7% from $66.4 million to $70.9 million

•Net interest margin improved 7 basis points to 3.49% versus 3.42%

•Net interest income increased by $3.4 million, or 6%

•Noninterest income increased by $1.1 million, or 9%

•Return on average equity of 15.00%, compared to 15.52%

•Return on average assets improved to 1.59%, compared to 1.57%

•Tangible book value per share grew by $3.27, or 12%, to $30.75

•Watch list loans as a percentage of total loans improved to 3.55% from 3.67%

•Nonaccrual loans declined to $19.9 million, compared to $30.6 million

•Common dividend per share increased to $0.52, or 4%, compared to $0.50

•Tangible capital ratio improved to 10.63%, compared to 10.15%

•Tangible common equity improved by $63.4 million, or 9%

•Common equity tier 1 capital ratio of 14.47%, compared to 14.73%

•Total risk-based capital ratio of 15.61%, compared to 15.86%

•Repurchased 70,873 shares at a weighted average per share price of $58.20

Second Quarter 2026 versus First Quarter 2026 highlights:

•Total loans increased by $106.3 million, or 2%, to $5.58 billion

1

•Core deposits expansion of $215.7 million, or 4%, to $6.03 billion

•Total revenue grew by 2% from $69.7 million to $70.9 million

•Return on average equity improved to 15.00%, compared to 13.89%

•Return on average assets improved to 1.59%, compared to 1.52%

•Tangible book value per share grew by $1.06, or 4%, to $30.75

•Net interest margin remained stable at 3.49%

•Net interest income increased by $1.5 million, or 3%

•Noninterest expense declined by 2% to $34.5 million from $35.2 million

•Common equity tier 1 capital ratio improved to 14.47%, compared to 14.45%

•Total risk-based capital ratio improved to 15.61%, compared to 15.58%

•Tangible capital ratio improved to 10.63%, compared to 10.53%

•Tangible common equity improved by $24.4 million, or 3%

Net Interest Margin

Net interest margin was 3.49% for the second quarter of 2026, representing a 7 basis point increase from 3.42% for the second quarter of 2025. This improvement was driven by a reduction in the company's funding costs, with interest expense as a percentage of average earning assets falling by 25 basis points from 2.41% for the second quarter of 2025 to 2.16% for the second quarter of 2026. Offsetting the decrease in funding costs was a decrease to earning asset yields of 18 basis points from 5.83% for the second quarter of 2025 to 5.65% for the second quarter of 2026. Net interest margin was favorably impacted by a reduction in deposit pricing that outpaced the decline

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.ce06d217.1784333247.a72f105f

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

lkfn-202601260000721994FALSE00007219942026-01-262026-01-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): January 26, 2026

LAKELAND FINANCIAL CORPORATION

(Exact name of Registrant as specified in its charter)

Indiana 0-11487 35-1559596 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

202 East Center Street, Warsaw,Indiana46580 (Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (574) 267-6144

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, no par value LKFN The Nasdaq Stock Market, LLC

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (s230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (s240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 2.02. Results of Operations and Financial Condition

On January 26, 2026, Lakeland Financial Corporation (the “Company”) issued a press release announcing its earnings for the three and twelve months ended December 31, 2025. The press release is furnished herewith as Exhibit 99.1.

The disclosure in this Item 2.02 and the related exhibit under Item 9.01 are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The disclosure in this Item 2.02 and the related exhibit under Item 9.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits

99.1     Press Release dated January 26, 2026

104     Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LAKELAND FINANCIAL CORPORATION

Dated:  January 26, 2026 By:/s/ Lisa M. O’Neill Lisa M. O’Neill Executive Vice President and Chief Financial Officer