Monitor net interest margin trajectory given the 8 bps YoY expansion and deposit cost management; watch for continued loan growth and asset quality trends, particularly watch list loans which increased 28% YoY.
Price Chart
Executive Summary
Lake City Bank (LKFN) reported Q3 2026 net income of $28.9M (record), up 9% YoY, with diluted EPS of $1.14 beating the $1.09 consensus by 4.6%. Revenue of $73.0M grew 6% YoY but slightly missed the $73.7M consensus. Net interest margin expanded 8 bps YoY to 3.58%, and loan growth of 8% drove the quarter, though noninterest income declined 5% YoY and expenses rose 3%.
Key Financial Metrics
Key Facts
- Record Q3 2026 net income of $28.9M, up 9% YoY from $26.4M
- Diluted EPS of $1.14 beat consensus of $1.09 by 4.6%
- Total revenue of $73.0M grew 6% YoY but missed consensus of $73.7M
- Net interest margin expanded 8 bps YoY to 3.58%
- Loans grew 8% YoY to $5.68B
- Noninterest income declined 5% YoY to $12.3M
- Noninterest expense increased 3% YoY to $36.1M
- Provision for credit losses decreased to $1.2M from $2.0M YoY
- Net charge-offs increased to $3.0M from $384K YoY, driven by a $2.8M partial charge-off on a fully reserved commercial credit
- Share repurchases continued: 41,550 shares at $58.45 avg price in Q3
- Dividend increased 4% to $0.52 per share
Financial Impact
EPS beat of 4.6% ($0.05) on consensus $1.09; revenue miss of $0.7M (-0.9%) on consensus $73.7M
Risk Factors
- Noninterest income declined 5% YoY, driven by lower loan fees and variable life insurance performance
- Net charge-offs increased significantly YoY, though driven by a single fully-reserved credit
- Watch list loans increased 28% YoY to $202M, representing 3.56% of total loans
- Unrealized losses on AFS securities increased to $213.9M due to rising Treasury yields
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3387940 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $58.39 | awaiting T+1 | — | $61.25 (+4.90%) |
Oct 26, 2026 1d ago | 8-K | $58.39 | awaiting T+1 | — | $61.25 (+4.90%) |
Oct 26, 2026 1d ago | 8-K | $58.39 | awaiting T+1 | — | $61.25 (+4.90%) |
Oct 13, 2026 13d ago | 8-K | $56.87 $57.02 | ▲ +0.26% | ▲ +1.34% | $61.25 (+7.70%) |
Jul 27, 2026 13w ago | 8-K | $63.35 $63.70 | ▲ +0.55% | ▲ +0.31% | $61.25 (−3.31%) |
Jul 27, 2026 13w ago | 8-K | $63.35 $63.70 | ▲ +0.55% | ▲ +0.31% | $61.25 (−3.31%) |
Jul 27, 2026 13w ago | Press Release | $63.35 $63.70 | ▼ −0.55% | ▼ −0.31% | $61.25 (+3.31%) |
Jul 21, 2026 13w ago | Press Release | $62.11 $61.31 | ▼ −1.29% | ▼ −1.17% | $61.25 (−1.38%) |
May 1, 2026 25w ago | Insider Cluster | $61.38 $60.71 | ▼ −1.09% | ▼ −0.75% | $61.25 (−0.21%) |
Apr 27, 2026 26w ago | 8-K | $61.55 $61.67 | ▲ +0.20% | ▲ +0.68% | $61.25 (−0.49%) |
US Market Status
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