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Lincoln National LNC Transition of FHLB lending program to FHLB funding agreements

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Other financials

Income statement

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Revenue$5.3B+13.1%
Net income-$172.0M+76.2%
EPS (diluted)-$1.10+75.1%

Balance sheet

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Cash & equivalents$7.3B+71.5%
Total debt$6.4B+8.5%
Total equity$10.2B+24.6%
Total assets$406.16B+6.1%

Cash flow

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Operating cash flow$138.0M+151%

Valuation

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Market cap$7.11B+10.3%
Enterprise value$6.13B-25.1%
P/E4.1×-0.7×
P/S0.4×0.0×

Profitability

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Net margin9.2%+2.2pp

Returns & leverage

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Return on equity18.8%+1.8pp
Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Lincoln National in its filing.

Tagged under the XBRL concept lnc:AmountsTransferredFromFHLBLendingProgramToFHLBFundingAgreements.

The official record: Lincoln National’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lincoln National's transition of FHLB lending program to FHLB funding agreements?
Lincoln National (LNC) reported transition of FHLB lending program to FHLB funding agreements of $366.25M in Q4 2025.
What does transition of FHLB lending program to FHLB funding agreements mean?
Reflects the strategic migration of liquidity management from traditional Federal Home Loan Bank (FHLB) lending programs to structured funding agreements. This transition indicates changes in the company's approach to accessing low-cost capital and managing its asset-liability matching profile. It highlights shifts in the company's long-term financing and liquidity strategy.