Lakeland Financial : 2025 Year in Review
LKFN
Published on 04/15/2026 at 07:56 am EDT
A Proven History of Shareholder Value Creation
And Commitment to Our Communities
3
Lisa O'Neill
Kristin Pruitt
Carrie Gutman
David Findlay
Rick Donovan
Kyra Clark
Eric Ottinger
Don Robinson-Gay
Stephanie Leniski
2014 / 2014
2008 / 2008
2023 / 2024
2000 / 2000
2019 / 2019
2020 / 2020
1999 / 2011
2018 / 2023
2002 / 2019
Age - 58
Age - 54
Age - 55
Age - 64
Age - 57
Age - 46
Age - 55
Age - 48
Age - 51
Averages 13 years of experience at Lake City Bank and 30 years of total experience.
Year Joined the Bank / Year Joined Management Committee
4
Lake City Bank Culture
High Quality Team Members
Our culture is our greatest asset and we will preserve it
Lake City University drives our
culture
Every employee attends on average, 20 hours of in person training annually
Our community involvement is
real and critical to our strategy
Inclusion initiatives continue and create a culture of belonging
Our culture has not been diluted by acquisition
5
Strong Capital Structure
$40.00
Tangible Book Value(1) Per Share
Allowance for Credit
Losses 7.2%
$35.00
$30.00
$25.00
$34.86*
Tangible Common Equity 92.8%
$20.00
$15.00
$10.00
$5.00
$0.00
1991
1993
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
2015
2017
2019
2021
2023
2025
(1)compounded annual growth rate computed from 1991-2024 for tangible book value
*TBV adjusted to exclude the market value impact of AFS investment securities for TCE and Tangible Assets from 2021 to 2025
Key Ratios and Per Share Data as of December 31, 2025
TCE/Tangible Assets 10.86% Adj. TCE/Adj. Tangible Assets 12.45% Total Risk-Based 15.92%
Leverage 12.39%
Book Value $30.02
Tangible Book Value $29.87 Adj. Tangible Book Value $34.86
Note: Tangible Common Equity to Tangible Assets and Tangible Book Value per Common Share are Non-GAAP financial measures. See "Reconciliation of Non-GAAP Financial
Measures" in the Fourth Quarter 2025 Earnings Press Release and Form 8-K. 6
Projected Population Growth Reflects Strength of Economy
67% of Lake City Bank counties are growth and high growth counties
40% of Lake City Bank counties are high growth counties
Indiana is poised to experience continued economic strength and vitality
7
Mission Execution
Shareholder Value
Creation of shareholder value will result from the successful long-term execution of our mission and the return to historical loan and deposit growth levels accompanied by intelligent balance sheet management to enhance the net interest margin.
Long-Term Mission Execution Key: While important, we will not allow short term financial results to impact our commitment
to the long-term mission.
8
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00
0.00
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
(500.00)
LKFN Shareholder Value
Total Return Performance from 12/31/00 to 12/31/25
2,717.59%
719.73%
325.70%
284.93%
LKFN S&P 500 S&P 500 US BMI Banks Index S&P Financials
9
A Proven History of Shareholder Value Creation
And Commitment to Our Communities
Disclaimer
Lakeland Financial Corporation published this content on April 15, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 15, 2026 at 11:55 UTC.