Trade Lakeland Financial Corp - LKFN CFD

Trade Lakeland Financial Corp - LKFN CFD

About Lakeland Financial Corporation

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of financial products and services throughout its Northern and Central Indiana markets. The Company offers commercial and consumer banking services, as well as trust and wealth management, brokerage, and treasury management commercial services. The Company serves a variety of industries including, among others, commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services and health care. The Bank’s activities cover all traditional facets of commercial banking, including deposit products, commercial and consumer lending, retail and merchant credit card services, corporate treasury management services, and wealth advisory, trust and brokerage services. The Bank holds approximately 50 branch offices in 15 counties in Northern Indiana and Central Indiana.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Lakeland Financial Corporation interest income increased less than 1% to $193.2M. Net interest income after loan loss provision increased 9% to $177M. Net income increased 14% to $95.7M. Net interest income after loan loss provision reflects Banking operations segment increase from $0K to $177M. Net income benefited from Interest on deposits decrease of 49% to $14.8M (expense).

Equity composition

Common Stock no Par, 12/10, 90M auth., 16,169,119 issd., less 90,699 shs. in Treas. @ $1.4M. Insiders own 9.03%. 05/06,5/98 & 4/96, 2-for-1 stock splits. Cumulative perpetual preferred stock 1M auth. 56,044 issd.