secwatch.observer — SEC 8-K summary
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Issuer:     LAKELAND FINANCIAL CORP (LKFN)
CIK:        0000721994
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0000721994-24-000096
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lakeland Financial Q2 net income up 54% YoY to $22.5M; NPA surges on single $43.3M credit
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- Net income $22.5M ($0.87 EPS), up 54% YoY from $14.6M ($0.57 EPS); linked quarter down 4%.
- Two non-routine events: $9.0M net gain on Visa shares exchange and $4.5M legal accrual (lawsuit dismissed).
- Loans reached $5.05B (+4% YoY); a $43.3M industrial commercial relationship placed on nonperforming status.
- Nonperforming assets jumped to $57.6M (0.88% of assets) from $18.4M; watch list loans at 5.31% of total.
- Net interest margin 3.17% (down 11bps YoY, up 2bps linked); quarterly dividend $0.48, 4% YoY increase.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/721994/000072199424000096/0000721994-24-000096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/721994/000072199424000096/lkfn-20240725.htm
  HTML page:      https://secwatch.observer/filing/0000721994-24-000096

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