XML 64 R49.htm IDEA: XBRL DOCUMENT
v3.24.0.1

PARENT COMPANY STATEMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheet | CONDENSED BALANCE SHEETS
| December 31,
(dollars in thousands) | 2023 |  | 2022
ASSETS |  |  |
Deposits with Lake City Bank | $ | 15,239 |  |  | $ | 386 |
Deposits with other depository institutions | 1,887 |  |  | 1,954 |
Cash | 17,126 |  |  | 2,340 |
Investments in banking subsidiary | 631,774 |  |  | 549,031 |
Investments in other subsidiaries | 0 |  |  | 3,845 |
Other assets | 3,578 |  |  | 13,819 |
Total assets | $ | 652,478 |  |  | $ | 569,035 |
LIABILITIES |  |  |
Dividends payable and other liabilities | $ | 2,774 |  |  | $ | 237 |
STOCKHOLDERS’ EQUITY | 649,704 |  |  | 568,798 |
Total liabilities and stockholders’ equity | $ | 652,478 |  |  | $ | 569,035 |
Schedule of Condensed of Income and Comprehensive Income Statement | CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)
| Years Ended December 31,
(dollars in thousands) | 2023 |  | 2022 |  | 2021
Dividends from Lake City Bank | $ | 46,263 |  |  | $ | 40,590 |  |  | $ | 47,355 |
Dividends from non-bank subsidiaries | 1,525 |  |  | 1,300 |  |  | 1,035 |
Other income | 5 |  |  | 1 |  |  | 3 |
Interest expense | 0 |  |  | 0 |  |  | (7) |
Miscellaneous expense | (4,768) |  |  | (8,795) |  |  | (8,133) |
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | 43,025 |  |  | 33,096 |  |  | 40,253 |
Income tax benefit | 1,957 |  |  | 2,770 |  |  | 2,360 |
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | 44,982 |  |  | 35,866 |  |  | 42,613 |
Equity in undistributed income of subsidiaries | 48,785 |  |  | 67,951 |  |  | 53,120 |
NET INCOME | $ | 93,767 |  |  | $ | 103,817 |  |  | $ | 95,733 |
COMPREHENSIVE INCOME (LOSS) | $ | 127,495 |  |  | $ | (101,199) |  |  | $ | 84,082 |
Schedule of Condensed Cash Flow Statement | CONDENSED STATEMENTS OF CASH FLOWS
| Years Ended December 31,
(dollars in thousands) | 2023 |  | 2022 |  | 2021
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 93,767 |  |  | $ | 103,817 |  |  | $ | 95,733 |
Adjustments to net cash from operating activities: |  |  |  |  |
Equity in undistributed income of subsidiaries | (48,785) |  |  | (67,951) |  |  | (53,120) |
Other changes | 16,601 |  |  | 6,157 |  |  | 5,177 |
Net cash from operating activities | 61,583 |  |  | 42,023 |  |  | 47,790 |
Cash flows from investing activities: |  |  |  |  |
Return of capital from subsidiary | 3,602 |  |  | 0 |  |  | 0 |
Cash flows from investing activities | 3,602 |  |  | 0 |  |  | 0 |
Cash flows from financing activities: |  |  |  |  |
Proceeds from (payments on) short-term borrowings | 0 |  |  | 0 |  |  | (10,500) |
Payments related to equity incentive plans | (3,135) |  |  | (1,780) |  |  | (1,914) |
Purchase of treasury stock | (575) |  |  | (579) |  |  | (559) |
Sales of treasury stock | 405 |  |  | 221 |  |  | 115 |
Dividends paid | (47,094) |  |  | (40,838) |  |  | (34,640) |
Cash flows from financing activities | (50,399) |  |  | (42,976) |  |  | (47,498) |
Net increase (decrease) in cash and cash equivalents | 14,786 |  |  | (953) |  |  | 292 |
Cash and cash equivalents at beginning of the year | 2,340 |  |  | 3,293 |  |  | 3,001 |
Cash and cash equivalents at end of the year | $ | 17,126 |  |  | $ | 2,340 |  |  | $ | 3,293 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration