secwatch.observer — SEC 8-K summary
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Issuer:     LAKELAND FINANCIAL CORP (LKFN)
CIK:        0000721994
Form:       8-K
Filed at:   2024-10-25T23:59:59+00:00
Accession:  0000721994-24-000136
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lakeland Financial Q3 net income down 8% YoY; NPA surge 247% due to industrial credit
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- Net income $23.3M ($0.91 EPS), down 8% YoY; linked quarter up 3%.
- Nonperforming assets surged 247% to $58.1M, driven by one industrial borrower.
- Provision expense $3.1M vs $400k prior year; watch list loans 5.27% of total.
- Core deposits grew 5% YoY; tangible book value per share up 25% to $27.07.
- Dividend increased 4% to $0.48/share, payable Nov 5, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/721994/000072199424000136/0000721994-24-000136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/721994/000072199424000136/lkfn-20241025.htm
  HTML page:      https://secwatch.observer/filing/0000721994-24-000136

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