Lakeland Financial Q1 net income falls 14% to $20.1 million; EPS $0.78
Lakeland Financial reported first-quarter 2025 net income of $20.1 million, down 14% from a year earlier, and diluted EPS of $0.78 versus $0.91. Revenue rose 6% and net interest income grew 12%, but a higher provision for credit losses, mainly tied to one $43.3 million nonperforming credit, weighed on profit. The board also set a $0.50 per share dividend, up 4% from the prior year, and extended the share repurchase program through April 30, 2027.
Key points
- Net income was $20.1 million, down $3.3 million or 14% from $23.4 million in Q1 2024; diluted EPS was $0.78 versus $0.91.
- Net interest income rose 12% to $52.9 million, and net interest margin improved to 3.40% from 3.15%.
- Provision for credit losses was $6.8 million versus $1.5 million, mainly due to an increase in the specific allocation for a $43.3 million nonperforming credit to an industrial company in Northern Indiana.
- Cash dividend of $0.50 per share is payable May 5, 2025; the repurchase program runs through April 30, 2027 with $30.0 million of remaining authority.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:58 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 25, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.