Lakeland Financial LKFN Deferred Compensation — Bank Owned Life Insurance
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Where this comes from
Reported directly by Lakeland Financial in its filing.
Tagged under the XBRL concept us-gaap:BankOwnedLifeInsurance.
The source filing: Lakeland Financial’s 10-K, filed February 25, 2026.
- Filed
- Feb 25, 2026, 8:00 AM EST
- Fiscal year
- FY2025
- Accession
- 0000721994-26-000018
At December 31, 2025 and 2024, the Company owned $123.0 million and $107.3 million, respectively, of life insurance policies on certain officers to provide a life insurance benefit for these officers. At December 31, 2025 and December 31, 2024, the Company also owned $7.0 million and $6.0 million, respectively, of variable life insurance on certain officers related to a deferred compensation plan. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, i.e., the cash surrender value adjusted for other changes or other amounts due that are probable at settlement.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
FAQ
- What is Lakeland Financial's deferred compensation — bank owned life insurance?
- Lakeland Financial (LKFN) reported deferred compensation — bank owned life insurance of $7M in Q4 2025.
- How has Lakeland Financial's deferred compensation — bank owned life insurance changed year-over-year?
- Lakeland Financial's deferred compensation — bank owned life insurance increased by 16.7% year-over-year, from $6M to $7M.
- What does deferred compensation — bank owned life insurance mean?
- This metric represents the cash surrender value of bank-owned life insurance (BOLI) policies held to fund deferred compensation liabilities for employees and executives. It reflects the asset side of a long-term benefit obligation, where the bank acts as both the owner and beneficiary of the policies to offset future compensation costs. Monitoring this balance provides insight into the bank's strategy for managing long-term personnel liabilities and the associated tax-advantaged investment assets.
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