Wed, Apr 30, 10:14 AM (13 days ago)
**Lakeland Financial Corporation (LKFN) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $91,034K (2024: $90,455K) - **Profit Margins:** Net income margin decreased to 21.9% (2024: 25.6%) - **Cash Flow:** Operating cash flow increased to $28,924K (2024: $24,794K) - **Earnings Changes:** Net income decreased by 14.2% to $20,085K (2024: $23,401K) - **Earnings per Share (EPS):** Diluted EPS decreased to $0.78 (2024: $0.91) **Quarterly Performance Discussion:** - **Net Interest Income:** Increased by 11.5% to $52,875K (2024: $47,416K) - **Provision for Credit Losses:** Increased significantly by 347.4% to $6,800K (2024: $1,520K) - **Noninterest Income:** Decreased by 13.4% to $10,928K (2024: $12,612K) - **Noninterest Expense:** Increased by 6.7% to $32,763K (2024: $30,705K) **Trends & Uncertainties:** - **Balance Sheet Expansion:** Driven by increases in loans, cash equivalents, and securities. - **Credit Quality:** Increase in provision for credit losses due to specific reserve allocation and economic conditions. - **Interest Rates:** Net interest margin expanded by 25 basis points due to a decrease in interest expense. **Future Operations Impact:** - **Loan Growth:** Expected to increase if long-term interest rates decline. - **Deposit Costs:** Anticipated to respond favorably to further monetary policy easing. - **Capital Ratios:** Remained "well-capitalized" with strong regulatory capital levels. **Key Ratios:** - **Efficiency Ratio:** 51.35% (2024: 51.15%) - **Return on Average Total Equity:** 11.70% (2024: 14.59%) - **Return on Average Total Assets:** 1.20% (2024: 1.44%) - **Equity to Assets Ratio:** 10.29% (2024: 9.84%) **Forward-Looking Statements:** - The company's ability to predict results is subject to various risks, including economic conditions, interest rates, regulatory changes, and market competition.