Lakeland Financial (LKFN) investor relations material

Executive summary

• Record Q3 2026 net income was $28.9 million, up 9% YoY; diluted EPS reached a record $1.14, up 11%.

• 9M net income rose 14% to $83.8 million and diluted EPS increased 16% to $3.31.

• Q3 revenue increased 6% to $73.0 million, supported by 8% growth in net interest income and an 8 bps margin expansion.

Financial highlights

• Q3 net interest income was $60.7 million, up 8% YoY; provision expense fell 40% to $1.2 million.

• 9M net interest income rose 7% to $175.8 million; revenue increased 7% to $213.6 million.

• Q3 noninterest income declined 5% to $12.3 million, while noninterest expense rose 3% to $36.1 million.

• 9M noninterest income increased 7% to $37.8 million and noninterest expense grew 8% to $105.7 million; provision for credit losses was $4.9 million versus $11.8 million.

• Total assets grew 3.1% from year-end 2025 to $7.208 billion; net loans rose 5.7% to $5.611 billion.

Outlook and guidance

• $24.1 million of securities principal and interest cash flows is expected during the rest of 2026, supporting loan growth and portfolio reinvestment.

• Commercial originations exceeded paydowns for a fourth consecutive quarter; lending-team expansion supports planned organic loan growth.

• Three branches are under development in Indianapolis and Fort Wayne; a new customer relationship management program is being prepared for rollout.

• Secondary-market mortgage originations may increase if long-term rates decline; elevated rates, limited housing inventory and rate-locked homeowners weigh on demand.