Continuously serving Kosciusko County since 1854
Lakeland Financial Corporation, parent company of Lake City Bank, reported record quarterly net income of $29.9 million for the three months ended Dec. 31, which represents an increase of $5.7 million, or 24%, compared to net income of $24.2 million for the three months ended Dec. 31, 2024. Diluted earnings per share were $1.16 for the fourth quarter of 2025 and increased $0.22, or 23%, compared to $0.94 for the fourth quarter of 2024. On a linked quarter basis, net income increased $3.5 million, or 13%, from $26.4 million. Diluted earnings per share increased $0.13, or 13%, from $1.03 on a linked quarter basis.
The company further reported net income of $103.4 million for the year ended Dec. 31, versus $93.5 million for 2024, an increase of $9.9 million, or 11%. Diluted earnings per share increased $0.38, or 10%, to $4.01 for the year ended Dec. 31, versus $3.63 for 2024. Pretax pre-provision earnings, a non-GAAP measure, were $137.4 million for the year ended Dec. 31, an increase of $8.9 million, or 7%, compared to $128.4 million for the year ended Dec. 31, 2024. Core operational profitability, a non-GAAP measure that excludes the impact of certain non-routine operating events that occurred during 2024, improved by $14 million, or 16%, from $89.4 million to $103.4 million for the years ended Dec. 31, 2024 and 2025, respectively.
