Lakeland Financial
OverviewSuggest Edit
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various financial services. The Company offers various deposit products and commercial, industrial and consumer loans. In addition, it provides corporate treasury management, wealth advisory, trust, and wealth management services, retail brokerage services, including various financial and investment products, such as annuities and life insurance, retail and merchant credit card services, and Internet business banking and on-line treasury management services.
| Type | Public | |
| Founded | 1872 | |
| HQ | Warsaw, IN, US | Map |
| Website | lakecitybank.com |
Key People/Management at Lakeland Financial
Douglas R. Samuels
Senior Vice President and Corporate & Institutional Service Manager
David M. Findlay
President and Chief Executive Officer, President and Chief Financial Officer
Michael E. Gavin
Executive Vice President and Chief Credit Officer
Anna N. Corkill
Vice President and Treasury Management Sales Officer
Lisa M. O'Neill
Executive Vice President and Chief Financial Officer
Melanie A. McIntyre
Vice President and Corporate & Institutional Service Sales Officer
Lakeland Financial Office Locations
Lakeland Financial has an office in Warsaw
Warsaw, IN, US (HQ)
202 E Center St
Lakeland Financial Financials and Metrics
Lakeland Financial Revenue
Lakeland Financial's revenue was reported to be $46.84 m in FY, 2020
| USD | |
|---|---|
Revenue (FY, 2020) | 46.8m |
Net income (FY, 2020) | 84.3m |
Market capitalization (1-Mar-2021) | 1.8b |
Closing stock price (1-Mar-2021) | 69.5 |
Cash (31-Dec-2020) | 249.9m |
EV | 1.6b |
Lakeland Financial's current market capitalization is $1.8 b.
- Source: SEC Filings
Annual
Quarterly
| USD | Q2, 2011 | Q3, 2011 | Q1, 2012 | Q2, 2012 | Q3, 2012 | Q1, 2013 | Q2, 2013 | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 5.9m | 5.9m | 5.9m | 5.8m | 6.2m | 7.5m | 7.6m | 7.8m | 7.4m | 7.6m | 7.9m | 7.8m | 7.7m | 7.9m | 7.0m | 8.1m | 9.0m | 8.3m | 8.8m | 9.5m | 9.9m | 2.4m | 280.0k | 11.5m | 11.6m | 10.8m | 10.8m | 11.2m | 13.1m |
Sales and marketing expense | 481.0k | 474.0k | |||||||||||||||||||||||||||
R&D expense | 979.0k | 729.0k | 841.0k | 1.1m | 1.1m | 1.3m | 1.4m | 1.4m | 1.5m | 1.5m | 1.6m | 1.8m | 1.9m | 2.0m | 2.0m | 2.1m | 2.0m | 2.0m | 2.0m | 2.0m | 2.5m | 2.3m | 2.5m | 2.4m | 2.6m | 2.6m | 2.9m | 2.8m | 3.0m |
Operating expense total | 4.7m | 3.6m | 4.1m | 4.5m | 4.3m | 4.3m | 4.7m | 5.3m | 3.2m | 3.7m | 3.9m | 3.2m | 3.5m | 3.6m | 3.6m | 3.7m | 3.5m | 3.5m | 3.6m | 3.6m | 4.0m | 3.9m | 4.5m | 4.7m | 4.9m | 4.9m | 5.2m | 4.6m | 5.2m |
- Source: SEC Filings
Annual
Quarterly
| USD | Q2, 2011 | Q3, 2011 | Q1, 2012 | Q2, 2012 | Q3, 2012 | Q1, 2013 | Q2, 2013 | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | 60.3m | 101.3m | 167.0m | 194.9m | 181.4m | 75.7m | 63.6m | 81.3m | 77.1m | 160.4m | 70.2m | 113.0m | 89.5m | 98.1m | 80.7m | 108.9m | 278.4m | 111.6m | 137.3m | 129.8m | 167.6m | 180.2m | 182.3m | 188.8m | 196.4m | 136.6m | 132.6m | 126.3m | 129.1m |
Accounts Receivable | 2.1b | 2.1b | 2.2b | 2.2b | 2.2b | 2.2b | 2.3b | 2.3b | 2.5b | 2.6b | 2.7b | 2.7b | 2.8b | 2.9b | 3.1b | 3.2b | 3.2b | 3.5b | 3.5b | 3.6b | 3.8b | 3.8b | 3.8b | 3.9b | 3.9b | 4.0b | 4.0b | 4.4b | 4.5b |
PP&E | 30.7m | 31.7m | 35.0m | 35.0m | 35.0m | 34.5m | 35.3m | 38.5m | 39.6m | 39.9m | 40.5m | 42.4m | 43.4m | 44.0m | 48.6m | 49.1m | 52.2m | 53.2m | 56.5m | 56.4m | 55.7m | 57.2m | 57.6m | 58.8m | 58.7m | 59.6m | 60.9m | 60.3m | 60.3m |
Goodwill | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m | 5.0m |
- Source: SEC Filings
Annual
| USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 | FY, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
Net Income | 30.7m | 35.4m | 38.8m | 43.8m | 46.4m | 52.1m | 57.3m | 80.4m | 87.0m | 84.3m |
Depreciation and Amortization | 54.0k | 2.8m | 3.0m | 3.4m | 3.8m | 4.2m | 5.1m | 5.7m | 5.9m | 6.0m |
Accounts Payable | 1.6m | |||||||||
Cash From Operating Activities | 51.3m | 50.6m | 63.0m | 55.7m | 55.8m | 62.2m | 77.2m | 105.0m | 100.0m | 87.2m |
Quarterly
| USD | Q2, 2011 | Q3, 2011 | Q1, 2012 | Q2, 2012 | Q3, 2012 | Q1, 2013 | Q2, 2013 | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Income | 14.0m | 22.4m | 8.6m | 17.4m | 26.8m | 9.2m | 18.5m | 28.3m | 9.9m | 21.2m | 32.7m | 11.1m | 22.5m | 34.1m | 12.3m | 25.1m | 38.6m | 14.5m | 29.9m | 45.7m | 18.3m | 38.5m | 59.0m | 21.7m | 43.4m | 64.8m | 17.3m | 37.0m | 59.7m |
Depreciation and Amortization | 27.0k | 41.0k | 13.0k | 1.3m | 2.0m | 679.0k | 1.4m | 2.2m | 830.0k | 1.7m | 2.5m | 956.0k | 1.9m | 2.8m | 983.0k | 2.0m | 3.1m | 1.2m | 2.4m | 3.7m | 1.4m | 2.8m | 4.2m | 1.4m | 2.9m | 4.4m | 1.5m | 3.0m | 4.5m |
Accounts Payable | 1.0m | 1.3m | 3.7m | 1.4m | 2.0m | ||||||||||||||||||||||||
Cash From Operating Activities | 28.5m | 38.3m | 14.0m | 24.2m | 36.8m | 23.1m | 31.2m | 50.2m | 14.9m | 25.8m | 39.7m | 16.5m | 26.4m | 43.1m | 18.5m | 34.8m | 49.5m | 20.8m | 35.9m | 53.1m | 25.9m | 45.6m | 75.2m | 23.7m | 44.7m | 71.9m | 19.5m | 40.7m | 61.3m |
- Source: SEC Filings
| USD | Q2, 2011 |
|---|---|
Debt/Equity | 0.5 x |
Debt/Assets | 0.1 x |
Financial Leverage | 10.5 x |
Lakeland Financial Operating Metrics
Lakeland Financial's Total Loans was reported to be $3.6b in Q2, 2017.
| FY, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | FY, 2016 | Q1, 2017 | Q2, 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Bank Branches | 46 | 47 | 48 | ||||||||
Non-performing Loans | $13.71 m | $15.61 m | $14.37 m | $14.31 m | $13.06 m | $7.58 m | $9.33 m | $7.26 m | $6.69 m | $11.82 m | $9.88 m |
Total Loans | $2.76 b | $2.77 b | $2.89 b | $2.97 b | $3.08 b | $3.11 b | $3.20 b | $3.28 b | $3.47 b | $3.53 b | $3.58 b |
Lakeland Financial Cybersecurity Score
Lakeland Financial Environment, Social & Governance (ESG) Ratings
Lakeland Financial Online and Social Media Presence
Lakeland Financial's Trends
Lakeland Financial News and Updates
October 26, 2020
Lakeland Financial Reports Record Third Quarter 2020 Performance
WARSAW, Ind., Oct. 26, 2020 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record quarterly net income of $22.8 million for the three months ended September 30, 2020, an increase of 6% versus $21.5 million for the th…
September 03, 2020
Lakeland Financial Corporation to Participate in the Raymond James Virtual U.S. Bank Conference
WARSAW, Ind., Sept. 03, 2020 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today announced that David M. Findlay, President and Chief Executive Officer, and Lisa M. O’Neill, Executive Vice President, Chief Financial Officer, will …
July 27, 2020
Lakeland Financial Reports Second Quarter 2020 Performance
WARSAW, Ind., July 27, 2020 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported quarterly net income of $19.7 million for the three months ended June 30, 2020, a decrease of 9% versus $21.7 million for the second quarter …
October 25, 2019
Lakeland Financial Reports Quarterly Performance
Year to Date Net Income Increases by 10% over 2018 Year to Date Net Income Increases by 10% over 2018
June 20, 2019
Finding Growth And Value In The Financials Sector with Lakeland Financial
This regional bank has bucked the trend in the rest of the sector by delivering solid growth in recent years, even as its valuation remains cheap.
April 25, 2019
Lakeland Financial Reports Record Quarterly Performance
Net Income Increases 18% and Dividend Increases 16% Net Income Increases 18% and Dividend Increases 16%
Lakeland Financial Blogs
October 16, 2018
Lake City Bank Celebrates Opening an Interactive Teller Machine at the Flanner House in Indianapolis
Lake City Bank will celebrate opening an Interactive Teller Machine (ITM) during the Fall Harvest Festival at the Flanner House on Saturday, October 20, 2018. The festival runs from noon to 6 pm at the Flanner House at 2408 Dr. Martin Luther King, Jr. Street, Indianapolis. Lake City Bank will celebr…
October 01, 2018
Lake City Bank Welcomes Ryan J. Hoffman to its Commercial Banking Team
Lake City Bank is pleased to announce that Ryan J. Hoffman has joined its Commercial Banking team. Hoffman, who is Vice President, Commercial Banking Officer, works with businesses in Kosciusko County and surrounding areas to provide financing and banking solutions for commercial and agribusiness cl…
September 05, 2018
Lake City Bank’s Emily E. Wold Promoted to Assistant Retail Banking Manager
Lake City Bank is pleased to announce that Emily E. Wold has been promoted to Assistant Retail Banking Manager of its Elkhart Northwest office. In this position, Wold supports office staff in their efforts to provide quality service and build customer relationships. She also manages the daily operat…
September 04, 2018
Lake City Bank Welcomes Jody M. Meyer to Manage its Indianapolis Downtown Location, its 50th in the State
Lake City Bank is pleased to announce that Jody M. Meyer has joined Lake City Bank as Vice President, Retail Banking Officer at its new office in downtown Indianapolis. The office, the sixth for Lake City Bank in the Indianapolis market and the 50th for the company, will be located at 101 W Ohio, on…
August 30, 2018
Lake City Bank Announces Melissa J. Blosser’s Move to Goshen Concord Office
Lake City Bank is pleased to announce that Melissa J. Blosser has transferred to its Goshen Concord office, where she serves as Assistant Vice President, Retail Banking Officer. In this position, Blosser supports office staff in their efforts to provide quality service and build customer relationshi…
August 30, 2018
Kristin L. Pruitt Named a Top General Counsel in 2018 First Chair Awards
Lake City Bank is pleased to announce that Kristin L. Pruitt, Executive Vice President, Chief Administrative Officer and General Counsel, today was named a Top General Counsel in the 2018 First Chair Awards. The annual awards program, now in its seventh year, honors in‐house counsel who have made si…
Lakeland Financial Frequently Asked Questions
When was Lakeland Financial founded?
Lakeland Financial was founded in 1872.
Who are Lakeland Financial key executives?
Lakeland Financial's key executives are Douglas R. Samuels, David M. Findlay and Michael E. Gavin.
How many employees does Lakeland Financial have?
Lakeland Financial has 568 employees.
What is Lakeland Financial revenue?
Latest Lakeland Financial annual revenue is $46.8 m.
What is Lakeland Financial revenue per employee?
Latest Lakeland Financial revenue per employee is $82.5 k.
Who are Lakeland Financial competitors?
Competitors of Lakeland Financial include Southside Bancshares, Chemung Financial and AmeriServ Financial.
Where is Lakeland Financial headquarters?
Lakeland Financial headquarters is located at 202 E Center St, Warsaw.
Where are Lakeland Financial offices?
Lakeland Financial has an office in Warsaw.
How many offices does Lakeland Financial have?
Lakeland Financial has 1 office.
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