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Lakeland Financial vs Independent Bank: LKFN and IBCP compared
Lakeland Financial is the larger company: $73.0M of revenue in its latest quarter (Q3 2026) against $71.1M for Independent Bank (Q3 2026). Independent Bank is growing faster (+24% against +6% a year earlier). Lakeland Financial is more profitable, with an operating margin of 48.9% against 30.3%.
Where the money goes: LKFN and IBCP
Lakeland Financial (LKFN) · Q3 2026
Lakeland Financial, Q3 2026: revenue $73.0M (+6% year over year), operating margin 48.9%, net earnings $28.9M, operating cash flow $41.7M. The chart follows the revenue to costs, profit and cash.
Independent Bank (IBCP) · Q3 2026
Independent Bank, Q3 2026: revenue $71.1M (+24% year over year), operating margin 30.3%, net earnings $17.9M, operating cash flow $25.2M. The chart follows the revenue to costs, profit and cash.
| Lakeland Financial (LKFN) | Independent Bank (IBCP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $73.0M | $71.1M |
| Revenue growth, Y/Y | +6% | +24% |
| Operating margin | 48.9% | 30.3% |
| Net earnings | $28.9M | $17.9M |
| Net margin | 39.5% | 25.1% |
| Operating cash flow | $41.7M | $25.2M |
| Free cash flow | $40.1M | $22.1M |
| Market value | $1.4B | $790M |
| P/E | 12.8× | 10.4× |
| Analysts’ mean target | $66.00 | $41.20 |
Where the revenue comes from
Lakeland Financial
- Net interest income: $60.7M (83%)
- Noninterest income: $12.3M (17%)
Questions
Which is bigger, Lakeland Financial or Independent Bank?
Lakeland Financial is the larger company: $73.0M of revenue in its latest quarter (Q3 2026) against $71.1M for Independent Bank (Q3 2026).
Is Lakeland Financial or Independent Bank growing faster?
Independent Bank is growing faster (+24% against +6% a year earlier).
Which is more profitable, Lakeland Financial or Independent Bank?
Lakeland Financial is more profitable, with an operating margin of 48.9% against 30.3%.
More: Lakeland Financial earnings · how Lakeland Financial makes money · Independent Bank earnings · how Independent Bank makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.