The EPS beat and net interest margin expansion are positive, but the revenue miss and elevated charge-offs warrant monitoring. Watch for continued loan growth trajectory and net interest margin sustainability in a declining rate environment, as well as asset quality trends given the increase in watch list loans.
Price Chart
Executive Summary
Lakeland Financial (LKFN) reported record Q3 2026 net income of $28.9M, 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, up 11% YoY from $1.03, beating consensus of $1.09 by 4.6%
- Total revenue of $73.0M, up 6% YoY from $69.0M, slightly below consensus of $73.7M
- Net interest margin expanded 8 bps YoY to 3.58% from 3.50%
- Total loans grew 8% YoY to $5.68B, driven by 12% growth in commercial and industrial loans
- Net charge-offs of $3.0M (0.21% annualized) vs $384K (0.03%) in Q3 2025, driven by a $2.8M partial charge-off on a previously reserved credit
- Nonperforming assets declined to $18.0M, or 0.25% of total assets, from $19.1M a year ago
- Share repurchases of 41,550 shares at $58.45 during Q3; $14.6M remaining authorization
- Quarterly dividend of $0.52 per share, up 4% YoY
Financial Impact
EPS beat of $0.05 (4.6%) on consensus of $1.09; revenue miss of $0.7M (1%) on consensus of $73.7M; net interest margin expansion of 8 bps to 3.58%
Risk Factors
- Revenue slightly missed consensus despite strong loan growth
- Noninterest income declined 5% YoY due to lower bank-owned life insurance income and loan fees
- Net charge-offs increased to $3.0M from $384K in Q3 2025, though the charge-off was fully reserved
- Tangible common equity ratio declined to 10.11% from 10.79% due to higher unrealized losses on AFS securities from rising Treasury yields
- Watch list loans increased 28% YoY to $202.0M, or 3.56% of total loans
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000721994-26-000074 |
| Document: lkfn-20261026.htm | 0000721994-26-000074 |
| Document: 0000721994-26-000074-index-headers.html | 0000721994-26-000074 |
| Document: 0000721994-26-000074-index.html | 0000721994-26-000074 |
| Document: 0000721994-26-000074.txt | 0000721994-26-000074 |
| 8-K Data (Synthetic) | 0000721994-26-000074 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $61.17 $60.71 | ▼ −0.74% | ▼ −1.30% | $60.71 (−0.74%) |
Oct 26, 2026 1d ago | 8-K | $61.17 $60.71 | ▼ −0.74% | ▼ −1.30% | $60.71 (−0.74%) |
Oct 26, 2026 1d ago | 8-K | $61.17 $60.71 | ▼ −0.74% | ▼ −1.30% | $60.71 (−0.74%) |
Oct 13, 2026 14d ago | 8-K | $56.87 $57.02 | ▲ +0.26% | ▲ +1.34% | $60.71 (+6.75%) |
Jul 27, 2026 13w ago | 8-K | $63.35 $63.70 | ▲ +0.55% | ▲ +0.31% | $60.71 (−4.17%) |
Jul 27, 2026 13w ago | 8-K | $63.35 $63.70 | ▲ +0.55% | ▲ +0.31% | $60.71 (−4.17%) |
Jul 27, 2026 13w ago | Press Release | $63.35 $63.70 | ▼ −0.55% | ▼ −0.31% | $60.71 (+4.17%) |
Jul 21, 2026 14w ago | Press Release | $62.11 $61.31 | ▼ −1.29% | ▼ −1.17% | $60.71 (−2.25%) |
May 1, 2026 25w ago | Insider Cluster | $61.38 $60.71 | ▼ −1.09% | ▼ −0.75% | $60.71 (−1.09%) |
Apr 27, 2026 26w ago | 8-K | $61.55 $61.67 | ▲ +0.20% | ▲ +0.68% | $60.71 (−1.36%) |
US Market Status
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