LAKELAND FINANCIAL CORPORATION LKFN Income Statement

Lakeland financial corporation (LKFN)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
NET INTEREST INCOME
Interest and fees on loans
Taxable
193,921	196,733	198,185	194,173	188,523	181,451	172,611	165,114	157,642	150,295	142,788	135,696	129,647	124,830	120,630	117,073	113,470	110,097	108,553	107,285	106,240	105,317	103,605	101,487	99,605	98,757	98,429	99,637	101,044	102,749	104,170	104,757	105,262	104,936	104,936	104,491	0	0	0
Tax exempt
922	951	907	881	848	814	839	836	796	729	647	552	501	462	446	452	458	464	472	481	489	470	446	421	398	402	412	421	431	441	447	452	462	471	379	284	0	0	0
Interest and dividends on securities
Taxable
8,385	8,909	9,472	9,538	9,780	9,717	9,386	9,460	9,332	9,218	9,334	9,262	9,195	9,421	9,225	8,957	8,662	8,564	8,521	8,587	8,613	8,176	7,952	7,340	6,464	5,398	4,446	5,017	6,492	8,311	10,365	11,548	12,282	13,575	14,668	15,564	0	0	0
Tax exempt
7,491	7,127	6,883	6,634	6,390	6,079	5,724	5,463	5,271	5,102	4,819	4,479	4,152	3,885	3,651	3,526	3,421	3,355	3,341	3,317	3,291	3,281	3,272	3,254	3,208	3,124	3,013	2,909	2,838	2,800	2,782	2,776	2,764	2,756	2,737	2,753	0	0	0
Other interest income
1,436	1,490	1,179	1,010	855	909	843	740	598	354	256	345	373	353	311	142	74	59	56	52	49	44	40	38	39	55	71	77	81	68	83	85	147	154	133	142	0	0	0
Total interest income
212,155	215,210	216,626	212,236	206,396	198,970	189,403	181,613	173,639	165,698	157,844	150,334	143,868	138,951	134,263	130,150	126,085	122,539	120,943	119,722	118,682	117,288	115,315	112,540	109,714	107,736	106,371	108,061	110,886	114,369	117,847	119,618	120,917	121,892	122,853	123,234	0	0	0
Interest on deposits
54,464	57,148	57,556	54,337	49,429	44,913	39,792	35,356	30,951	27,026	23,745	21,740	20,191	18,944	17,785	16,726	15,962	15,415	15,173	14,624	14,029	13,568	13,326	13,491	14,295	15,745	17,680	20,080	22,543	24,667	26,219	27,320	27,811	27,735	28,062	27,905	0	0	0
Interest on borrowings
Short-term
723	1,311	1,577	2,019	1,982	1,143	978	1,011	1,247	1,446	1,398	847	515	352	333	339	275	188	175	228	297	388	492	542	550	490	461	427	419	441	464	511	554	612	627	656	0	0	0
Long-term
1,276	1,704	1,738	1,745	1,728	1,643	1,560	1,478	1,387	1,334	1,294	1,241	1,202	1,174	1,119	1,067	1,039	1,009	1,016	1,037	1,033	1,029	1,000	1,003	1,007	1,062	1,223	1,359	1,493	1,590	1,579	1,541	1,509	1,465	1,647	1,825	0	0	0
Total interest expense
56,463	60,163	60,871	58,101	53,139	47,699	42,330	37,845	33,585	29,806	26,437	23,828	21,908	20,470	19,237	18,132	17,276	16,612	16,364	15,889	15,359	14,985	14,818	15,036	15,852	17,297	19,364	21,866	24,455	26,698	28,262	29,372	29,874	29,812	30,336	30,386	0	0	0
NET INTEREST INCOME
155,692	155,047	155,755	154,135	153,257	151,271	147,073	143,768	140,054	135,892	131,407	126,506	121,960	118,481	115,026	112,018	108,809	105,927	104,579	103,833	103,323	102,303	100,497	97,504	93,862	90,439	87,007	86,195	86,431	87,671	89,585	90,246	91,043	92,080	92,517	92,848	0	0	0
Provision for loan losses
8,635	3,235	3,285	3,385	4,300	6,400	7,950	7,300	6,100	3,000	2,300	1,850	1,350	1,150	0	0	0	0	0	0	0	0	0	0	0	0	1,250	1,250	1,750	2,549	4,199	6,599	8,999	13,800	17,050	20,400	0	0	0
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
147,057	151,812	152,470	150,750	148,957	144,871	139,123	136,468	133,954	132,892	129,107	124,656	120,610	117,331	115,026	112,018	108,809	105,927	104,579	103,833	103,323	102,303	100,497	97,504	93,862	90,439	85,757	84,945	84,681	85,122	85,386	83,647	82,044	78,280	75,467	72,448	0	0	0
NONINTEREST INCOME
Wealth advisory fees
7,074	6,835	6,670	6,561	6,459	6,344	6,152	5,996	5,736	5,481	5,210	5,046	4,895	4,805	4,738	4,534	4,507	4,531	4,419	4,346	4,217	4,072	3,998	3,948	3,942	3,847	3,948	3,927	3,853	3,823	3,619	3,526	3,558	3,462	3,397	3,364	0	0	0
Investment brokerage fees
1,718	1,687	1,715	1,705	1,554	1,458	1,366	1,320	1,242	1,273	1,208	1,130	1,043	1,010	1,051	1,204	1,303	1,507	1,839	2,133	2,745	3,370	4,026	4,830	4,904	4,736	4,075	3,267	3,210	3,061	2,902	2,948	2,629	2,560	2,769	2,499	0	0	0
Service charges on deposit accounts
14,202	15,717	17,080	17,540	16,490	15,831	15,211	14,728	14,181	13,696	13,264	12,786	12,376	12,013	11,631	11,284	11,014	10,608	10,275	9,943	9,718	9,495	9,231	9,082	8,986	8,806	8,626	8,346	8,105	8,015	7,949	7,940	7,868	7,950	8,143	8,309	0	0	0
Loan and service fees
9,915	9,911	9,769	9,578	9,518	9,291	8,975	8,708	8,184	7,900	7,696	7,741	7,736	7,681	7,679	7,721	7,729	7,460	7,228	7,053	6,910	6,799	6,799	6,351	6,406	6,404	6,606	6,503	6,143	5,876	5,376	5,214	5,022	4,909	4,695	4,510	0	0	0
Merchant card fee income
2,688	2,641	2,609	2,562	2,441	2,461	2,417	2,362	2,383	2,279	2,218	2,182	2,139	2,098	2,087	2,020	1,924	1,843	1,744	1,666	1,615	1,549	1,477	1,426	1,339	1,265	1,153	1,094	1,090	1,130	1,087	1,043	1,042	960	1,038	1,088	0	0	0
Bank owned life insurance income (loss)
1,154	1,890	1,313	1,264	1,325	1,244	1,675	1,606	1,660	1,768	1,608	1,603	1,690	1,392	1,436	1,265	1,136	1,338	1,267	1,418	1,396	1,393	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-
Mortgage banking income
1,990	1,626	1,408	1,091	1,131	1,150	1,169	1,152	1,092	982	1,192	1,384	1,390	1,586	1,361	1,147	1,114	1,176	1,133	1,117	945	621	733	628	987	1,431	2,178	2,609	2,463	2,546	1,980	1,830	1,641	1,000	1,368	1,002	0	0	0
Net securities gains
119	142	50	44	-21	-50	-26	-26	23	32	66	66	17	66	52	52	52	42	42	-186	-182	-224	-224	110	106	107	108	-378	-378	-376	-377	2	34	-167	-163	-162	0	0	0
Other income
5,389	4,548	3,341	3,469	3,051	2,573	2,779	2,745	3,159	2,629	2,821	2,866	2,794	2,213	2,162	1,854	1,948	2,974	2,626	3,052	3,057	2,978	2,804	2,779	2,381	2,488	1,686	1,499	1,491	1,174	1,056	749	1,115	822	1,871	1,992	0	0	0
Total impairment losses recognized on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	1,026	1,426	1,392	917	286	-173	-287	0	0	0
Loss recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	26	26	0	0	0	0	0	0	0
Net impairment loss recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	1,026	1,158	1,124	675	286	239	206	0	0	0
Total noninterest income
44,249	44,997	43,955	43,814	41,948	40,302	39,718	38,591	37,660	36,040	35,283	34,804	34,080	32,864	32,197	31,081	30,727	31,479	30,573	30,542	30,421	30,053	30,768	30,706	30,683	30,737	30,164	28,584	26,827	25,196	23,429	23,123	23,229	22,205	22,879	22,315	0	0	0
NONINTEREST EXPENSE
Salaries and employee benefits
48,793	49,434	48,965	48,883	48,541	48,353	47,511	46,434	45,955	45,306	44,689	43,843	43,421	41,656	40,931	39,953	38,805	38,923	38,359	38,361	38,384	38,648	38,993	38,574	37,998	37,176	36,025	35,157	34,629	34,539	34,012	34,054	33,709	32,807	32,461	31,409	0	0	0
Net occupancy expense
5,316	5,295	5,257	5,135	5,089	5,149	5,082	4,984	4,901	4,595	4,466	4,403	4,290	4,266	4,107	3,958	3,832	3,820	3,809	3,762	3,750	3,776	3,729	3,670	3,640	3,376	3,309	3,299	3,257	3,296	3,252	3,195	3,116	3,106	3,084	3,037	0	0	0
Equipment costs
5,589	5,521	5,546	5,477	5,318	5,243	5,056	4,922	4,828	4,629	4,435	4,271	4,024	3,850	3,727	3,579	3,583	3,598	3,584	3,526	3,374	3,231	3,156	3,102	2,995	2,831	2,739	2,622	2,564	2,572	2,458	2,353	2,267	2,204	2,117	2,103	0	0	0
Data processing fees and supplies
10,864	10,407	10,012	9,881	9,597	9,685	9,503	9,046	8,730	8,233	8,035	7,986	8,132	8,148	8,072	8,039	7,857	7,592	7,285	6,892	6,447	6,171	6,061	5,947	5,833	5,635	5,449	5,149	4,830	4,378	3,879	3,465	3,384	3,655	3,824	4,055	0	0	0
Corporate and business development
4,276	4,371	5,372	5,264	5,139	5,066	3,871	4,225	4,375	4,744	4,630	4,406	3,973	3,328	3,530	3,289	3,240	3,173	3,305	3,251	3,210	3,073	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-
FDIC insurance and other regulatory fees
499	638	985	1,646	1,646	1,701	1,784	1,815	1,825	1,798	1,759	1,774	1,912	2,001	2,064	2,127	2,081	2,044	2,008	1,968	1,945	1,936	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-
Professional fees
4,854	4,644	4,569	4,024	3,863	3,798	3,573	3,601	3,492	3,574	3,420	3,277	3,335	3,208	3,188	3,063	2,932	2,794	2,860	2,871	2,879	2,990	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-
Credit card interchange
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other expense
8,849	9,114	9,120	8,979	8,307	7,234	6,954	6,376	6,346	6,419	6,624	6,588	6,555	6,521	6,327	6,386	6,359	6,262	6,271	6,303	6,288	6,341	3,742	5,906	5,983	6,000	3,266	2,597	4,356	6,102	6,445	6,156	6,471	6,663	13,732	14,511	0	0	0
Total noninterest expense
89,040	89,424	89,826	89,289	87,500	86,229	83,334	81,403	80,452	79,298	78,058	76,548	75,642	72,978	71,946	70,394	68,689	68,206	67,481	66,934	66,277	66,166	66,062	65,668	64,675	62,778	60,761	58,797	57,955	57,742	56,716	55,893	55,617	55,105	55,249	55,195	0	0	0
INCOME BEFORE INCOME TAX EXPENSE
102,266	107,385	106,599	105,275	103,405	98,944	95,507	93,656	91,162	89,634	86,332	82,912	79,048	77,217	75,277	72,705	70,847	69,200	67,671	67,441	67,467	66,190	65,203	62,542	59,870	58,398	55,160	54,732	53,553	52,576	52,099	50,877	49,656	45,380	43,097	39,568	0	0	0
Income tax expense
19,602	20,338	20,387	19,947	19,648	18,533	24,832	27,726	30,010	32,304	27,107	26,032	24,729	25,133	24,429	23,772	23,337	22,833	22,520	22,344	22,438	22,385	21,880	20,961	20,365	19,559	18,307	18,301	17,539	17,182	17,046	16,724	16,333	14,718	14,175	12,874	0	0	0
NET INCOME
82,664	87,047	86,212	85,328	83,757	80,411	70,675	65,930	61,152	57,330	59,225	56,880	54,319	52,084	50,848	48,933	47,510	46,367	45,151	45,097	45,029	43,805	43,323	41,581	39,505	38,839	36,853	36,431	36,014	35,394	35,053	34,153	33,323	30,662	28,922	26,694	0	0	0
Dividends and accretion of discount on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
BASIC WEIGHTED AVERAGE COMMON SHARES
25,622	25,624	25,622	25,614	25,491	25,302	25,301	25,293	25,257	25,195	25,193	25,183	25,152	25,089	25,069	25,045	25,019	33,253	24,944	24,917	16,590	49,615	16,547	16,536	16,513	16,459	16,451	16,425	16,408	16,349	16,340	16,324	16,280	16,214	16,208	16,201	16,195	16,138	16,114
BASIC EARNINGS PER COMMON SHARE
0.68	0.86	0.84	0.85	0.85	0.84	0.81	0.80	0.73	0.46	0.63	0.61	0.58	0.54	0.54	0.51	0.49	0.27	0.46	0.46	0.67	-0.21	0.70	0.68	0.60	0.65	0.59	0.56	0.56	0.53	0.57	0.54	0.53	0.51	0.52	0.49	0.37	0.40	0.24
DILUTED WEIGHTED AVERAGE COMMON SHARES
25,735	25,799	25,796	25,774	25,665	25,760	25,745	25,709	25,696	25,781	25,656	25,619	25,596	25,661	25,457	25,395	25,327	33,690	25,271	25,230	16,789	50,460	16,775	16,739	16,713	16,828	16,634	16,546	16,527	16,548	16,490	16,453	16,439	16,389	16,324	16,300	16,285	16,232	16,212
DILUTED EARNINGS PER COMMON SHARE
0.67	0.86	0.83	0.85	0.84	0.84	0.80	0.78	0.71	0.44	0.62	0.60	0.57	0.54	0.53	0.50	0.48	0.27	0.46	0.45	0.66	-0.22	0.69	0.68	0.59	0.62	0.59	0.56	0.56	0.52	0.57	0.54	0.52	0.50	0.52	0.49	0.37	0.40	0.24