Lakeland Financial reports Q4 EPS 94c, consensus 90c

Reports Q4 revenue $63.6M, consensus $63.09M. Tangible book value per share grew by $1.25, or 5%, to $26.47; Total risk-based capital ratio improved to 15.90%, compared to 15.47%; Return on average equity of 13.87%, compared to 20.52%. “2024 continued a long and consistent trend of organic growth in our balance sheet. We successfully expanded both our loan and deposit franchises during the year,” stated David Findlay, Chairman and CEO. “We are particularly pleased with the 9-basis point expansion of our net interest margin on a linked quarter basis as we effectively managed the balance sheet throughout the year.”