secwatch.observer — SEC 8-K summary
======================================

Issuer:     LAKELAND FINANCIAL CORP (LKFN)
CIK:        0000721994
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0000721994-24-000009
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lakeland Financial reports 2023 net income $93.8M, down 10% YoY; core EPS $3.95
-------------------------------------------------------------------------------

- 2023 net income $93.8M ($3.65 diluted EPS), down 10% YoY; adjusted net income $101.6M ($3.95 EPS).
- Net interest margin compressed 66 bps from 4Q22 to 4Q23; NII down 3% YoY to $197.0M.
- Average loans grew 9% YoY to $4.81B; deposits decreased 2% to $5.6B.
- Nonperforming loans remain low at 0.25% of total loans; watchlist loans at historic lows.
- TCE ratio 9.91%, risk-based capital 15.46%; no change to dividend or guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/721994/000072199424000009/0000721994-24-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/721994/000072199424000009/lkfn-20240125.htm
  HTML page:      https://secwatch.observer/filing/0000721994-24-000009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer