Lakeland Financial Corporation (LKFN): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la banque régionale, Lakeland Financial Corporation (LKFN) apparaît comme une puissance stratégique, mélangeant les services bancaires traditionnels axés sur la communauté avec l'innovation numérique de pointe. En créant méticuleusement un modèle commercial qui priorise les solutions financières personnalisées, l'expertise du marché local et la progression technologique, LKFN s'est positionné comme un acteur formidable dans l'écosystème des services financiers compétitifs. Cette exploration complète de leur toile de modèle commercial révèle les mécanismes complexes stimulant leur succès, offrant un aperçu de la façon dont une banque régionale peut équilibrer efficacement les prouesses technologiques, l'engagement communautaire et les services financiers stratégiques.

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: partenariats clés

Réseaux commerciaux locaux et régionaux

En 2024, Lakeland Financial Corporation maintient des partenariats stratégiques avec:

Chambre de commerce de l'Indiana	Membre actif depuis 1989
Organisations de développement économique	12 partenariats régionaux actifs
Associations d'entreprises locales	23 réseaux collaboratifs actifs

Banques communautaires et institutions financières

Le réseau de partenariat comprend:

• 15 collaborations régionales de la banque communautaire
• 7 Accords de partenariat bancaire interétatique
• 3 arrangements de réseau de services partagés

Fournisseurs de services technologiques

Fournisseur de logiciels bancaires de base	Jack Henry & Associés
Partenaire de cybersécurité	Symantec Enterprise
Infrastructure cloud	Microsoft Azure
Plate-forme bancaire numérique	Solutions Fiserv

Partenaires hypothécaire et prêt

Partners de collaboration des prêts primaires:

• Fannie Mae - Programmes hypothécaires conventionnels
• Freddie Mac - Marché hypothécaire secondaire
• Administration des petites entreprises (SBA) - Programmes de prêt d'entreprise

Sociétés d'assurance et d'investissement

Partenariat d'investissement	Raymond James Financial
Collaboration d'assurance	Chubb Limited
Partenaire de gestion de patrimoine	Groupe financier de Lincoln

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: activités clés

Services bancaires commerciaux et personnels

Au quatrième trimestre 2023, Lakeland Financial Corporation a déclaré des prêts totaux de 4,97 milliards de dollars, les prêts commerciaux et consommateurs comprenant le portefeuille bancaire principal.

Catégorie de prêt	Montant total	Pourcentage de portefeuille
Prêts commerciaux	3,42 milliards de dollars	68.8%
Prêts à la consommation	1,55 milliard de dollars	31.2%

Prêts hypothécaires et origine

En 2023, Lakeland Financial a créé 612 millions de dollars de prêts hypothécaires, ce qui représente une augmentation de 5,2% par rapport à l'année précédente.

• Portefeuille hypothécaire résidentiel: 487 millions de dollars
• Prêts immobiliers commerciaux: 125 millions de dollars

Gestion de la patrimoine et avis financier

Le segment de gestion de la patrimoine a géré 1,23 milliard de dollars d'actifs sous gestion (AUM) au 31 décembre 2023.

Catégorie de service	Actif total
Gestion individuelle de la richesse	823 millions de dollars
Services de richesse d'entreprise	407 millions de dollars

Développement de la plate-forme bancaire numérique

Les transactions bancaires numériques ont augmenté de 22,3% en 2023, avec 1,8 milliard de dollars traité via des canaux numériques.

• Utilisateurs de la banque mobile: 68 500
• Transactions bancaires en ligne: 3,2 millions
• Volume de paiement numérique: 456 millions de dollars

Gestion des risques et conformité

Lakeland financier alloué 12,7 millions de dollars aux activités de gestion des risques et de conformité en 2023.

Zone de conformité	Investissement
Conformité réglementaire	6,3 millions de dollars
Cybersécurité	4,2 millions de dollars
Audit interne	2,2 millions de dollars

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: Ressources clés

Équipe de gestion financière expérimentée

Au quatrième trimestre 2023, l'équipe de direction de Lakeland Financial Corporation comprend:

Position	Nom	Mandat
Président & PDG	David M. Findlay	15 ans et plus
Directeur financier	Jill Deetz York	Plus de 10 ans

Forte infrastructure bancaire régionale

Détails de l'infrastructure de Lakeland Financial Corporation:

• Branches totales: 52 emplacements
• Zone de service primaire: nord de l'Indiana
• Actif total: 6,8 milliards de dollars (31 décembre 2023)
• Dépôts totaux: 5,9 milliards de dollars (31 décembre 2023)

Technologie bancaire numérique robuste

Les capacités bancaires numériques comprennent:

• Plateforme bancaire en ligne
• Application bancaire mobile
• Volume de transactions numériques: 2,3 millions de transactions mensuelles

Confiance et réputation des clients

Métrique	Valeur
Taux de rétention de la clientèle	89%
Notes de banque communautaire	4.7/5.0

Des connaissances approfondies du marché local

Statistiques de pénétration du marché:

• Part de marché dans le nord de l'Indiana: 22,5%
• Part de marché des prêts commerciaux: 18,3%
• Part de marché des banques personnelles: 25,7%

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées

Au quatrième trimestre 2023, Lakeland Financial Corporation propose:

Type de produit	Nombre d'offres	PROCHATION DES CLIENTS MOYENS
Comptes de chèques personnels	7 types de compte distincts	32 456 clients
Solutions bancaires d'entreprise	5 forfaits spécialisés	8 234 clients commerciaux
Services de gestion de la patrimoine	3 programmes complets	2 567 clients à haute nette

Taux d'intérêt compétitifs

Comparaison des taux d'intérêt pour 2024:

Type de compte	Taux LKFN	Moyenne régionale
Comptes d'épargne	4.25%	3.87%
Tarifs de CD (12 mois)	5.15%	4.72%
Taux hypothécaires	6.75%	7.12%

Prise de décision locale et approbations rapides

Métriques de traitement des prêts:

• Temps d'approbation du prêt moyen: 2,3 jours ouvrables
• Taux de prise de décision local: 98,6%
• Taux d'approbation du prêt: 76,4%

Capacités bancaires numériques avancées

Performance bancaire numérique en 2023:

Service numérique	Taux d'adoption des utilisateurs	Volume de transaction
Application bancaire mobile	67.3%	1,2 million de transactions mensuelles
Payage des factures en ligne	58.9%	845 000 transactions mensuelles
Dépôt de chèque numérique	62.7%	673 000 transactions mensuelles

Soutien financier axé sur la communauté

Métriques d'investissement communautaire:

• Réinvestissement communautaire total en 2023: 24,3 millions de dollars
• Prêts commerciaux locaux: 87,6 millions de dollars
• Support des organisations à but non lucratif: 42 organisations locales
• Subventions au développement communautaire: 1,7 million de dollars

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: relations avec les clients

Gestionnaires de relations bancaires personnelles

En 2024, Lakeland Financial Corporation maintient 127 gestionnaires de relations bancaires personnelles dédiés à travers son réseau. Ces professionnels desservent en moyenne 342 comptes clients par gestionnaire.

Catégorie de gestionnaire de relations	Nombre de gestionnaires	Clientèle moyen
Gestionnaires de banque commerciale	47	189 comptes
Gestionnaires bancaires personnels	80	153 comptes

Engagement communautaire et événements locaux

Lakeland Financial Corporation a conduit 214 événements communautaires en 2023, avec un engagement estimé aux participants de 18 763 individus.

• Ateliers de littératie financière: 87 événements
• Sessions locales de réseautage d'entreprise: 62 événements
• Initiatives de collecte de fonds communautaires: 65 événements

Assistance bancaire en ligne et mobile

Les plates-formes bancaires numériques desservent 72% de la clientèle de la clientèle de Lakeland Financial Corporation, avec 168 432 utilisateurs actifs de banque numérique en 2023.

Plate-forme numérique	Utilisateurs actifs	Pourcentage de clientèle
Application bancaire mobile	134,756	57.3%
Banque Web en ligne	33,676	14.7%

Consultation financière sur mesure

Lakeland Financial Corporation fournit Services de consultation financière spécialisés sur plusieurs segments avec 92 conseillers financiers dédiés.

• Consultations en gestion de patrimoine: 38 conseillers
• Planification financière des petites entreprises: 34 conseillers
• Spécialistes de la planification de la retraite: 20 conseillers

Programmes de fidélisation de la clientèle

Le programme de fidélité de la banque comprend 64 321 participants actifs, ce qui représente 27,8% de la clientèle totale.

Tier du programme de fidélité	Nombre de participants	Plage de valeur de récompense
Niveau argenté	41,876	50 $ - 250 $ Récompenses annuelles
Niveau d'or	16,543	251 $ à 500 $ Récompenses annuelles
Niveau de platine	5,902	501 $ - 1 000 $ récompenses annuelles

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: canaux

Réseau de succursale physique

En 2023, Lakeland Financial Corporation exploite 52 sites bancaires principalement dans l'Indiana. La banque maintient une présence concentrée dans les comtés suivants:

Comté	Nombre de branches
Comté de lac	12
Comté de Porter	8
Comté de Laporte	6
Autres comtés de l'Indiana	26

Plateforme bancaire en ligne

La plate-forme numérique dessert environ 45 000 utilisateurs de banque en ligne actifs avec les fonctionnalités suivantes:

• Suivi du solde du compte en temps réel
• Transferts de fonds électroniques
• Services de paiement de factures
• Accès à la déclaration numérique

Application bancaire mobile

Au quatrième trimestre 2023, l'application bancaire mobile de Lakeland Financial a:

Métrique	Valeur
Téléchargements totaux d'applications mobiles	38,752
Utilisateurs actifs mensuels	28,435
Volume de dépôt de chèque mobile	42,6 millions de dollars par trimestre

Services bancaires téléphoniques

Statistiques des banques téléphoniques pour 2023:

• Volume moyen d'appel quotidien: 672 appels
• Représentants du service à la clientèle: 24
• Temps d'attente moyen: 3,2 minutes

Réseau ATM

Infrastructure ATM de Lakeland Financial:

Type de guichet automatique	Nombre total	Volume de transaction
ATM appartenant à des banques	67	412 000 transactions par an
ATM du réseau partagé	185	276 000 transactions par an

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Au quatrième trimestre 2023, Lakeland Financial Corporation dessert environ 2 500 petites et moyennes entreprises de l'Indiana. Le portefeuille total des prêts commerciaux pour ce segment était de 487,3 millions de dollars.

Caractéristiques du segment d'entreprise	Nombre de clients	Portefeuille de prêts totaux
Entreprises manufacturières	412	98,6 millions de dollars
Entreprises du secteur des services	673	156,2 millions de dollars
Commerces de détail	541	112,5 millions de dollars

Résidents de la communauté locale

Lakeland Financial dessert 48 372 clients bancaires individuels dans 14 comtés de l'Indiana. Les produits bancaires personnels comprennent:

• Comptes chèques: 32 145 clients
• Comptes d'épargne: 26 890 clients
• Prêts personnels: 8 765 clients

Entrepreneurs du secteur agricole

Les prêts agricoles représentent 22,6% du portefeuille total de prêts de Lakeland. Les prêts agricoles totaux en 2023 étaient de 312,5 millions de dollars, desservant 1 237 entreprises agricoles.

Segment agricole	Nombre de clients	Taille moyenne du prêt
Producteurs de cultures	687	$245,000
Bétail	413	$312,500
Entreprises agro-industrielles	137	$589,000

Clients bancaires au détail

Le segment bancaire de détail comprend 35 672 clients actifs avec un solde de compte moyen de 24 500 $. Le taux d'adoption des banques numériques est de 68,3%.

• Utilisateurs des banques mobiles: 24 376
• Utilisateurs bancaires en ligne: 31 245
• Volume de transaction ATM: 1,2 million par an

Individus à haute nette

Le segment de la gestion de patrimoine dessert 1 243 clients à haute teneur en naissance avec des actifs sous gestion totalisant 672,4 millions de dollars en décembre 2023.

Niveau de richesse	Nombre de clients	Valeur de portefeuille moyenne
1 M $ - Portfolio de 5 millions de dollars	876	2,3 millions de dollars
Portfolio de 5 millions de dollars - 10 millions de dollars	267	6,8 millions de dollars
Portfolio supérieur à 10 millions de dollars	100	15,4 millions de dollars

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: Structure des coûts

Salaires et avantages sociaux des employés

À partir du rapport annuel de 2022, Lakeland Financial Corporation a déclaré des frais de rémunération totale et des avantages sociaux de 64,4 millions de dollars.

Catégorie de dépenses	Montant ($)
Salaires	47,200,000
Avantages sociaux	17,200,000

Maintenance des infrastructures technologiques

Les dépenses de technologie et d'infrastructure pour 2022 étaient de 12,6 millions de dollars.

• Investissements matériels informatiques: 4,2 millions de dollars
• Licence de logiciel: 3,8 millions de dollars
• Systèmes de cybersécurité: 2,9 millions de dollars
• Maintenance du réseau: 1,7 million de dollars

Dépenses de fonctionnement de la succursale

Les coûts opérationnels totaux liés à la succursale en 2022 étaient de 18,3 millions de dollars.

Catégorie de dépenses de succursale	Montant ($)
Loyer et occupation	7,500,000
Services publics	3,200,000
Entretien	4,600,000
Équipement	3,000,000

Coûts de conformité réglementaire

Les frais de réglementation et de conformité pour 2022 ont totalisé 5,7 millions de dollars.

• Conseil juridique: 2,1 millions de dollars
• Audit et rapport: 1,8 million de dollars
• Formation en conformité: 900 000 $
• Frais de dépôt réglementaire: 900 000 $

Frais de marketing et d'acquisition des clients

Les dépenses de marketing en 2022 étaient de 6,2 millions de dollars.

Catégorie de dépenses de marketing	Montant ($)
Marketing numérique	2,500,000
Publicité traditionnelle	1,800,000
Acquisition de clients	1,400,000
Matériel promotionnel	500,000

Lakeland Financial Corporation (LKFN) - Modèle d'entreprise: Strots de revenus

Intérêt des prêts

Pour l'exercice 2023, Lakeland Financial Corporation a rapporté 141,8 millions de dollars dans le revenu total des intérêts. Répartition des intérêts du prêt:

Type de prêt	Revenu d'intérêt
Prêts commerciaux	87,3 millions de dollars
Prêts hypothécaires résidentiels	38,5 millions de dollars
Prêts à la consommation	15,9 millions de dollars

Frais de service bancaire

Les frais de service bancaire pour 2023 ont totalisé 22,6 millions de dollars, avec la distribution suivante:

• Frais de maintenance du compte: 8,2 millions de dollars
• Frais de transaction: 6,7 millions de dollars
• Frais de carte ATM et de débit: 4,9 millions de dollars
• Autres services bancaires: 2,8 millions de dollars

Frais d'origine hypothécaire

Les frais d'origine hypothécaire en 2023 étaient 5,4 millions de dollars. Déchange détaillée:

Type hypothécaire	Frais d'origine
Hypothèques résidentielles	4,1 millions de dollars
Hypothèques commerciales	1,3 million de dollars

Commissions de gestion de la patrimoine

Les commissions de gestion de la patrimoine pour 2023 équivalaient à 12,7 millions de dollars:

• Services de conseil en investissement: 6,5 millions de dollars
• Commissions de la planification de la retraite: 3,9 millions de dollars
• Services de planification successorale: 2,3 millions de dollars

Ventes de produits d'investissement

Les revenus de vente de produits d'investissement pour 2023 étaient 9,3 millions de dollars:

Produit d'investissement	Revenus de vente
Fonds communs de placement	4,6 millions de dollars
Rentes	3,2 millions de dollars
Autres produits d'investissement	1,5 million de dollars

Lakeland Financial Corporation (LKFN) - Canvas Business Model: Value Propositions

Community banking model with long-term, in-market relationships

Lakeland Financial Corporation, through Lake City Bank, emphasizes deep, in-market relationships, which is the life blood of their balance sheet growth. They have a long history, dating back to 1872, and focus on funding growth with core deposits in their Northern and Central Indiana communities. The company has had significant relationship growth across all areas of the business during 2025.

Full-service commercial lending and treasury management solutions

The value proposition includes full-service commercial lending. As of the third quarter of 2025, average loans stood at $5.21 billion, representing a 3% increase year-over-year. The commercial and industrial loan portfolio grew by 2% in 2024. Treasury Management services are a key focus area for relationship growth in 2025.

Here's a quick look at some key financial metrics supporting the lending and overall performance as of late 2025:

Metric	Value (Q3 2025)	Context/Comparison
Average Loans	$5.21 billion	Up 3% year-over-year as of Q3 2025.
Net Interest Margin (NIM)	3.50%	Improved by 34 basis points in Q3 2025.
Net Income	$26.4 million	A 13% increase for Q3 2025 versus Q3 2024.
Return on Average Equity (ROE)	14.60%	Up from 13.85% in Q3 2024.

Comprehensive Wealth Advisory and Trust services

Lakeland Financial Corporation offers comprehensive wealth advice through its Wealth Advisory Group, focusing on seven key financial initiatives. Management highlighted significant relationship growth in the wealth advisory business units during 2025. Fees from the Wealth Advisory Group and Treasury Management are positively impacting revenue growth. For the period ending May 2025, Wealth Advisory Group and Treasury Management Fees were reported at $56,844 (units not specified, but showing growth trend).

The Wealth Advisory service level includes:

• Investment & Portfolio Management
• Life Insurance Planning
• Retirement & Cash Flow/Distribution Planning
• Tax Strategy Planning
• Education/College Planning
• Long Term Care Planning
• Family Estate Planning

Technology-forward banking with local, easy access

The commitment to technology is physical; in 2025, Lake City Bank announced plans to invest US$12 million in its Innovation and Technology Center in Warsaw. Access is expanding locally, with the opening of their 54th branch in Carmel, Indiana, in July 2025. The company uses technology-driven treasury management solutions.

Consistent shareholder returns, with a $0.50 quarterly dividend

Lakeland Financial Corporation maintains a commitment to returning value to shareholders. The latest announced quarterly dividend was $0.50 per share, with an ex-dividend date of 10/24/2025. This results in an annual dividend of $2.00 per share. The forward dividend yield is approximately 3.43%. The company has a track record of 14 years of consecutive dividend increases, and the current payout ratio of 52.77% is considered sustainable based on trailing earnings per share.

Shareholder return metrics as of late 2025:

• Quarterly Dividend Amount: $0.50
• Annual Dividend Amount: $2.00
• Forward Dividend Yield: 3.43%
• Consecutive Dividend Increase Years: 14

Finance: draft 13-week cash view by Friday.

Lakeland Financial Corporation (LKFN) - Canvas Business Model: Customer Relationships

You're looking at how Lakeland Financial Corporation, through its subsidiary Lake City Bank, keeps its customers close while simultaneously pushing technology-a classic community bank balancing act. The core philosophy here is building in-market long-term customer relationships while delivering technology-forward solutions for both retail and commercial clients.

The relationship model is dedicated and deeply localized. Lake City Bank serves Central and Northern Indiana communities, operating out of 55 branch offices across 15 Indiana counties as of late 2025. This physical presence supports their primary focus: building expansive commercial lending and deposit relationships through high levels of relationship-based client services. Their commitment to the local market is evident; for instance, they maintain a 67% market share of all Kosciusko County deposits.

For commercial clients, this translates to direct access to decision-makers. The Commercial Banking team is built around relationship banking, featuring 42 credit "smart" commercial bankers. These bankers bring significant experience, averaging 25 years in banking and 14 years at Lake City Bank. This structure is designed so that when you need a decision, you aren't talking to a distant committee; you're talking to someone who lives and works in your market. One client noted that the bankers answered questions directly and helped streamline their internal banking infrastructure with new automation, making processes smoother.

The high-touch service extends to wealth management and private banking clients as well, though specific client-to-advisor ratios aren't public. The overall strategy emphasizes a full suite of services, including trust services and retail brokerage, all anchored by these strong local relationships. This human element is what Lake City Bank uses to compete against larger regional and national banks.

Still, the relationship model is heavily augmented by digital self-service. You can see the shift in how customers interact with the bank based on transaction data from the first half of 2025. Mobile adoption is clearly outpacing every other delivery channel. Here's the quick math on channel utilization for the twelve months ending June 30, 2025:

Channel	Total Transactions (2025 YTD)	% of Total Transactions (2025 YTD)	Change from 2019
Mobile Logins	8,364,993	55%	99% Increase
Online Logins	3,737,567	25%	(26)% Decrease
Branch Transactions	2,044,404	14%	(10)% Decrease

The data shows that 55% of total transactions were mobile logins as of mid-2025, a near doubling since 2019. This indicates that while the relationship bankers handle the complex commercial and wealth needs, routine service is definitely shifting to automated, self-service digital channels. The bank's total deposits grew to $6.18 billion by June 30, 2025, with core deposits making up 98% of that total, suggesting customers are keeping their primary banking relationship-the one that matters for lending-with Lake City Bank.

The investment in technology supports this blended approach. The bank is focused on delivering technology-forward solutions, which includes ongoing functionality additions to its Lake City Bank Digital platform, initially implemented in 2021. This commitment means you get the personal touch when you need to discuss a complex credit structure, but you can handle deposits and transfers instantly on your phone.

To keep this model working, Lakeland Financial Corporation is investing in its footprint and people. They announced a $12 Million Investment in an Innovation and Technology Center in late 2025, and they continue expanding their physical presence, opening a new branch in Westfield, Indiana, in September 2025.

• The bank serves 15 Indiana counties.
• Total Deposits reached $6.18 billion as of June 30, 2025.
• The efficiency ratio improved to 48.6% for the first six months of 2025.
• The bank's community banking model prioritizes long-term customer relationships.
• Commercial bankers average 14 years of tenure at Lake City Bank.

Finance: draft a comparison of 2025 mobile login growth versus 2024 branch transaction volume by end of month.

Lakeland Financial Corporation (LKFN) - Canvas Business Model: Channels

You're looking at how Lakeland Financial Corporation, through its subsidiary Lake City Bank, gets its value proposition to the market as of late 2025. It's a mix of physical presence and digital tools, which is key for a community bank expanding its footprint.

Physical network of 55 Lake City Bank branch locations

The physical network is the bedrock, serving Central and Northern Indiana communities. As of September 2, 2025, Lake City Bank officially opened its newest office, bringing the total physical network to 55 branch offices. This expansion includes a strategic presence in growing areas, like the ninth office in the Indianapolis Region, located in Westfield. This physical touchpoint supports the community banking model focused on long-term customer relationships.

Robust digital banking platform for retail and commercial

The bank supports its physical network with a robust digital banking platform for both retail and commercial clients. While specific user adoption rates for late 2025 aren't public, the platform is central to delivering technology-forward solutions. The bank is also investing in its infrastructure, with plans announced in September 2025 to invest US$12 million in its Innovation and Technology Center in Warsaw to bolster these digital capabilities.

Direct sales team for commercial and wealth management

For more complex needs, Lakeland Financial Corporation relies on specialized teams. The structure clearly supports dedicated relationship managers for high-value services. For instance, the wealth management segment, which managed $3.3 billion in trust, retirement, and investment brokerage assets as of the first quarter of 2025, is channeled through dedicated advisory officers. Similarly, commercial banking relies on direct engagement, evidenced by the commercial deposits growing annually by $106.5 million, or 5%, to reach $2.26 billion as of the second quarter of 2025.

Here's a quick look at the scale of the physical and service channels as of mid-to-late 2025:

Channel Component	Metric Type	Latest Reported Value	Date/Period End
Physical Branch Network	Total Locations	55	September 30, 2025
Commercial Deposits	Total Amount	$2.26 billion	June 30, 2025
Wealth/Advisory Assets	Assets Under Management (AUM)	$3.3 billion	March 31, 2025
Total Loans	Total Loan Portfolio	$5.23 billion	June 30, 2025

ATMs and mobile banking applications

The self-service layer includes essential transaction tools. The Lake City Bank Digital offering supports mobile banking applications and payment solutions. These solutions include integration with major mobile wallets. You can see the bank's commitment to these access points through its support for payment solutions such as:

• Apple Pay®
• Google Pay™
• Samsung Pay™
• Visa Click to Pay

These digital tools help customers manage their accounts outside of the 55 physical locations.

Lakeland Financial Corporation (LKFN) - Canvas Business Model: Customer Segments

Lakeland Financial Corporation (LKFN), through its subsidiary Lake City Bank, focuses its community banking model on building in-market, long-term customer relationships across Central and Northern Indiana communities. You'll find their 54 branch offices serving this geographic footprint, with headquarters located in Warsaw, Indiana. The bank holding company managed approximately $6.9 billion in banking assets as of Q1 2025.

The primary customer base is split across commercial, retail, and public entities. Commercial businesses represent the core focus, driving loan portfolio growth. Retail consumers and households form the second major pillar of the deposit base. To be fair, the composition shifts slightly quarter-to-quarter, but the focus remains on these local relationships.

Public funds customers are a significant component of the funding strategy. For the first quarter of 2025, deposits from this segment reached exactly $1.71 billion, representing 29% of total deposits at that time. This segment is important enough that about $1.7 billion of these funds were noted as being tied to the Effective Federal Funds Rate as of Q2 2025.

For Wealth Advisory services, Lakeland Financial Corporation targets high-net-worth individuals. This segment contributes to noninterest income, with wealth advisory fees showing a strong year-over-year increase of 17% in Q1 2025. As of Q1 2025, the bank managed $3.3 billion in trust, retirement, and investment brokerage assets through this group.

Here's a look at the deposit composition, drawing from the latest available segment data points near the end of 2025, noting the specific Q1 2025 public funds figure you mentioned:

Customer Segment (Deposit Type)	Approximate Deposit Amount (as of late 2025 data)	Approximate Percentage of Total Deposits
Commercial businesses	$2.257 billion (Q2 2025)	37% (Q2 2025)
Retail consumers and households	$1.79 billion (Q1 2025)	30% (Q1 2025)
Public funds customers	$1.71 billion (Q1 2025)	29% (Q1 2025)
Brokered Deposits	$0.150 billion (Q2 2025)	2% (Q2 2025)

You can see the retail segment was slightly smaller in Q1 2025 at $1.79 billion compared to the $1.756 billion reported in Q2 2025, illustrating the dynamic nature of these balances.

The bank also serves customers with its Wealth Advisory Group and Private Banking services, offering loan and deposit products alongside technology-driven treasury management solutions.

• Geographic concentration: Central and Northern Indiana.
• Branch network: 54 branch offices.
• Wealth Advisory fee growth (YoY): 17% in Q1 2025.
• Total Banking Assets (Q1 2025): $6.9 billion.

Finance: draft 13-week cash view by Friday.

Lakeland Financial Corporation (LKFN) - Canvas Business Model: Cost Structure

You're looking at the cost side of Lakeland Financial Corporation's business, which is heavily influenced by the cost of money and the expense of running a community-focused, yet technology-aware, bank. For a financial institution, the biggest levers are almost always interest paid versus interest earned, and then the operational costs to support the branch network and digital services.

Significant interest expense on deposits and borrowings is a primary cost driver. The efficiency in managing this cost directly impacts the Net Interest Margin (NIM). For the third quarter of 2025, Lakeland Financial Corporation demonstrated good management here, with interest expense as a percentage of average earning assets falling to 2.37%, down from 2.88% in the third quarter of 2024. This reduction in funding costs helped push the Q3 2025 NIM up to 3.50%.

The overall operational outlay remains high, reflecting the commitment to local presence. You noted a figure for high non-interest expense, at $34.965 million (Q3 2025). This category covers everything outside of the direct cost of funds. For context on the nine-month period ending September 30, 2025, the Adjusted core noninterest expense was reported at $98.2 million.

The cost structure breakdown includes several key components:

• Personnel costs for local branch and relationship staff: This is central to the community banking model. For the six months ended June 30, 2025, salaries and benefits expense increased by $2.0 million, or 6% year-over-year.
• Technology and digital platform maintenance costs: Lakeland Financial Corporation is investing to keep pace with larger competitors. A concrete commitment was the announcement of a $12 Million Investment in Innovation and Technology Center on September 8, 2025. Data processing fees and supplies expense for the six months ending June 30, 2025, was a component of the overall noninterest expense.

Credit quality management results in a direct expense through the Provision for Credit Losses (PCL). This number fluctuates based on portfolio health. For the first quarter of 2025, the provision was $6.8 million. However, reflecting improved asset quality in the latest quarter, the provision for credit losses was reduced to $2.0 million for the third quarter of 2025. This reduction coincided with a significant improvement in asset quality metrics:

Asset Quality Metric	Q3 2025 Value	Comparison
Nonaccrual Loans	$18.7 million	Down 68% from Q3 2024
Watch List Loans as % of Total Loans	3.00%	Improved from 3.67% in Q2 2025

To keep your eye on the operational efficiency, you want to track the efficiency ratio. For Q3 2025, Lakeland Financial Corporation's efficiency ratio was 50.7%, compared to 49.7% in Q3 2024.

Lakeland Financial Corporation (LKFN) - Canvas Business Model: Revenue Streams

The revenue streams for Lakeland Financial Corporation are fundamentally built upon the core banking model, heavily weighted toward interest earnings, supplemented by growing fee-based services.

Net Interest Income (NII) remains the primary engine, with the figure for the third quarter of 2025 reported at $56.07 million. This was supported by a Net Interest Margin that improved to 3.50% in Q3 2025.

Interest income is generated from the bank's lending activities. While the prompt references an average loan portfolio of $5.19 billion, the actual reported average total loans for the third quarter of 2025 stood at $5.21 billion, representing a 3% increase year-over-year.

Non-interest income, derived from fee-based services, is a significant secondary stream, totaling $13.0 million in Q3 2025, marking a 9% increase year-over-year. This segment is strategically important for diversification.

The growth in fee-based revenue is clearly visible across specific service lines, with the 2024 performance showing strong momentum in wealth management and treasury services:

• Wealth Advisory fees grew by 15% in 2024.
• Treasury management fees grew by 5% in 2024.

Looking specifically at the third quarter of 2025 performance for these fee streams, you can see the ongoing contribution:

• Wealth advisory fees increased by 5% year-over-year in Q3 2025.
• Loan and service fees increased by 16% year-over-year in Q3 2025.

Here's a breakdown of the key components contributing to the overall revenue picture for Lakeland Financial Corporation as of late 2025:

Revenue Component	Latest Reported Amount/Metric
Net Interest Income (Q3 2025)	$56.07 million
Total Revenue (Q3 2025)	$69.0 million
Non-interest Income (Q3 2025)	$13.0 million
Average Total Loans (Q3 2025)	$5.21 billion
Net Interest Margin (Q3 2025)	3.50%

The composition of the non-interest income in Q3 2025 included several fee categories, showing the breadth of services beyond pure lending:

• Loan and service fees income: Increased by $464,000, or 16%.
• Wealth advisory fees: Increased by $137,000, or 5%.
• Investment brokerage fees: Increased by $119,000, or 27%.
• Service charges on deposit accounts: Increased by $143,000, or 5% (based on Q3 2024 comparison for service charges on deposit accounts, as the data point is available).

The CEO noted special emphasis on relationship growth in commercial banking, treasury management services, and wealth advisory business units during 2025, directly tying operational focus to these revenue drivers.