Lakeland Financial Corporation

Financial Services advisory banks brokerage holding company investment

The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services. It serves a range of industries, including commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and healthcare. The Bank's activities cover all phases of commercial banking, including deposit products, commercial and consumer lending, retail and merchant credit card services, corporate treasury management services, and wealth advisory, trust and brokerage services. The Bank has over 50 offices in over 10 counties in Northern and Central Indiana.

Revenue(Q1, 2017)

$46.4 M

Market capitalization(2017-08-17)

$1.1 B

Company Growth (employees)

Type

Public

Warsaw, US

Size (employees)

524 (est)

Website

lakecitybank.com

Lakeland Financial Corporation is headquartered in Warsaw, US

Lakeland Financial Corporation Office Locations

Lakeland Financial Corporation has an office in Warsaw

Warsaw, US (HQ)

202 E Center St

Lakeland Financial Corporation Data and Metrics

Lakeland Financial Corporation Financial Metrics

Lakeland Financial Corporation's revenue was reported to be $46.4 m in Q1, 2017

Summary

USD

Lakeland Financial Corporation's current market capitalization is $1.1 b.

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	107.7 m	117.3 m	122.5 m	139 m
Revenue growth, %		9%	4%	13%
Cost of goods sold			16.6 m	20.5 m
Gross profit			105.9 m	118.5 m
Gross profit Margin, %			86%	85%
Sales and marketing expense				41.9 m
Operating expense total			68.2 m	73 m
EBIT			105.9 m	117.3 m
EBIT margin, %			86%	84%
Pre tax profit			69.2 m	77.2 m
Income tax expense			22.8 m	25.1 m
Net Income	38.8 m	43.8 m	46.4 m	52.1 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Revenue				38 m	38.9 m	40.3 m	42.4 m	44.1 m	46.4 m
Cost of goods sold				4.2 m	4.3 m	4.6 m	5.1 m	5.4 m	6.1 m
Gross profit				33.8 m	34.6 m	35.6 m	37.3 m	38.7 m	40.3 m
Gross profit Margin, %				89%	89%	89%	88%	88%	87%
Sales and marketing expense				9.4 m	9.9 m	9.6 m	10.6 m	10.8 m	11.4 m
Operating expense total				9.4 m	9.9 m	9.6 m	10.6 m	10.8 m	11.4 m
EBIT				26.1 m	26.7 m	28.6 m	29.3 m	29.7 m	31.9 m
EBIT margin, %				69%	69%	71%	69%	67%	69%
Pre tax profit				17 m	17.4 m	18.2 m	18.9 m	20 m	20.1 m
Income tax expense				5.7 m	5.8 m	6 m	6.1 m	6.5 m	5.6 m
Net Income	21.2 m	32.7 m	11.1 m	22.5 m	34.1 m	12.3 m	25.1 m	38.6 m	14.5 m

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	63.1 m	90.6 m	80.7 m	167.3 m
Accounts Receivable	8.6 m	8.7 m	9.5 m	3.5 m
Goodwill	5 m	5 m	5 m	5 m
Total Assets	3.2 b	3.4 b	3.8 b	4.3 b
Accounts Payable	2.9 m	2.9 m	3.8 m	3.6 b
Total Debt	31 m	31 m	31 m	31 m
Total Liabilities				3.9 b
Retained Earnings	233.1 m	263.3 m	294 m	327.9 m
Total Equity	322 m	361.4 m	392.9 m	427.1 m
Debt to Equity Ratio	0.1 x	0.1 x	0.1 x	0.1 x
Debt to Assets Ratio	0 x	0 x	0 x	0 x
Financial Leverage	9.9 x	9.5 x	9.6 x	10 x

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Cash	160.4 m	70.2 m	113 m	89.5 m	98.1 m	80.7 m	108.9 m	278.4 m	111.6 m
Goodwill	5 m	5 m	5 m	5 m	5 m	5 m	5 m	5 m	5 m
Total Assets	3.4 b	3.4 b	3.5 b	3.6 b	3.7 b	3.8 b	3.9 b	4.2 b	4.3 b
Accounts Payable	2.8 b	2.9 b	3 b	3 b	3.1 b	3.3 b	3.4 b	3.7 b	3.7 b
Retained Earnings	247.7 m	255.8 m	271 m	278.3 m	285.8 m	302.2 m	310.3 m	319.1 m	337.6 m
Total Equity	343.6 m	351.9 m	370.8 m	375.8 m	386.7 m	407 m	418.9 m	427.4 m	437.2 m
Financial Leverage	10 x	9.5 x	9.4 x	9.5 x	9.5 x	9.4 x	9.4 x	9.8 x	9.9 x

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	38.8 m	43.8 m	46.4 m	52.1 m
Depreciation and Amortization	3 m	3.4 m	3.8 m	4.2 m
Cash From Operating Activities	63 m	55.7 m	55.8 m	62.2 m
Purchases of PP&E	(167.5 m)	(73.4 m)	(91.8 m)	(116.2 m)
Cash From Investing Activities	(312.5 m)	(239.8 m)	(339.1 m)	(442.4 m)
Cash From Financing Activities	80.4 m	211.6 m	273.4 m	466.9 m
Interest Paid	19.1 m	15 m	15.8 m	18.6 m
Income Taxes Paid	17.3 m	21.2 m	21.6 m	21.6 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Net Income	21.2 m	32.7 m	11.1 m	22.5 m	34.1 m	12.3 m	25.1 m	38.6 m	14.5 m
Depreciation and Amortization	1.7 m	2.5 m	956 k	1.9 m	2.8 m	983 k	2 m	3.1 m	1.2 m
Cash From Operating Activities	25.8 m	39.7 m	16.5 m	26.4 m	43.1 m	18.5 m	34.8 m	49.5 m	20.8 m
Purchases of PP&E	(29.5 m)	(58.7 m)	(26.1 m)	(43.9 m)	(70.2 m)	(27 m)	(53.8 m)	(77.1 m)	(52.8 m)
Cash From Investing Activities	(144.4 m)	(172.3 m)	(11 m)	(132.7 m)	(217.9 m)	(36.2 m)	(134.2 m)	(227.3 m)	(86 m)
Cash From Financing Activities	215.8 m	139.8 m	17 m	105.1 m	182.2 m	17.8 m	127.6 m	375.5 m	9.6 m
Interest Paid	7.2 m	11.2 m	3.3 m	7.2 m	11.7 m	4.2 m	9.1 m	13.7 m	5.8 m
Income Taxes Paid	10.2 m	16.5 m	104 k	9.9 m	15.4 m		8.8 m	15.1 m	4 k

Ratios

USD	Y, 2017
Revenue/Employee	88.5 k
Financial Leverage	9.9 x

Lakeland Financial Corporation Market Value History

Market Position of Lakeland Financial Corporation

Competitors

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Compare competitors

Lakeland Financial Corporation

Company Growth (employees)

Lakeland Financial Corporation Office Locations

Lakeland Financial Corporation Data and Metrics

Lakeland Financial Corporation Financial Metrics

Summary

Revenue (Q1, 2017)

Gross profit (Q1, 2017)

Gross profit margin (Q1, 2017), %

Net income (Q1, 2017)

EBIT (Q1, 2017)

Market capitalization (17-Aug-2017)

Cash (31-Mar-2017)

Income Statement

Revenue

Revenue growth, %

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

Operating expense total

EBIT

EBIT margin, %

Pre tax profit

Income tax expense

Net Income

Revenue

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

Operating expense total

EBIT

EBIT margin, %

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Goodwill

Total Assets

Accounts Payable

Total Debt

Total Liabilities

Retained Earnings

Total Equity

Debt to Equity Ratio

Debt to Assets Ratio

Financial Leverage

Cash

Goodwill

Total Assets

Accounts Payable

Retained Earnings

Total Equity

Financial Leverage

Cash Flow

Net Income

Depreciation and Amortization

Cash From Operating Activities

Purchases of PP&E

Cash From Investing Activities

Cash From Financing Activities

Interest Paid

Income Taxes Paid

Net Income

Depreciation and Amortization

Cash From Operating Activities

Purchases of PP&E

Cash From Investing Activities

Cash From Financing Activities

Interest Paid

Income Taxes Paid

Ratios

Revenue/Employee

Financial Leverage

Lakeland Financial Corporation Market Value History

Market Position of Lakeland Financial Corporation

Competitors