---
schema_version: "secwatch.filing_event.v1"
accession: "0000721994-23-000034"
form_type: "8-K"
ticker: "LKFN"
cik: "0000721994"
company_name: "LAKELAND FINANCIAL CORP"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T17:28:35.636260+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Lakeland Financial Q1 record net income $24.3M; NIM expands YoY 61bps, compresses QoQ 35bps

## Summary
- Diluted EPS $0.94 (+2% YoY); ROAA 1.54%, ROAE 16.81%.
- Net interest margin 3.54% (+61bps YoY, -35bps from Q4 2022).
- Loan growth $401.2M (9% YoY); deposit contraction $302.9M (5% YoY).
- Provision expense $4.4M vs $471K a year ago; net charge-offs $5.7M from one commercial customer.
- Dividend increased 15% to $0.46 per share; $30M share repurchase program reauthorized.

## SEC filing metadata
- accession: 0000721994-23-000034
- form_type: 8-K
- ticker: LKFN
- cik: 0000721994
- company_name: LAKELAND FINANCIAL CORP
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/721994/000072199423000034/0000721994-23-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/721994/000072199423000034/lkfn-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000721994-23-000034
- JSON: https://secwatch.observer/filing/0000721994-23-000034.json
- Plain text: https://secwatch.observer/filing/0000721994-23-000034.txt

## Key facts
- Earnings Releases
  LAKELAND FINANCIAL CORP reported the three months ended March 31, 2023 results: net income $24.3 million, EPS $0.94.
  - Period: the three months ended March 31, 2023
  - Net income: $24.3 million
  - EPS: $0.94
  - Result: reported results
  source text: Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record first quarter net income of $24.3 million for the three months ended March 31, 2023, which represents an increase of $636,000, or 3%, compared with net income of $23.6 million for the three months ended March 31, 2022. Diluted earnings per share of $0.94 was also a record for the first quarter and increased 2% compared to $0.92 for the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/721994/000072199423000034/0000721994-23-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.