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.

TypePublic
Founded1872
HQWarsaw, IN, US
Websitelakecitybank.com

Latest Updates

Employees (est.) (Dec 2019)568(+3%)
Revenue (FY, 2020)$46.8 M(+5%)
Share Price (Mar 2021)$69.5
Cybersecurity ratingAMore

Key People/Management at Lakeland Financial

Douglas R. Samuels

Douglas R. Samuels

Senior Vice President and Corporate & Institutional Service Manager
David M. Findlay

David M. Findlay

President and Chief Executive Officer, President and Chief Financial Officer
Michael E. Gavin

Michael E. Gavin

Executive Vice President and Chief Credit Officer
Anna N. Corkill

Anna N. Corkill

Vice President and Treasury Management Sales Officer
Lisa M. O'Neill

Lisa M. O'Neill

Executive Vice President and Chief Financial Officer
Melanie A. McIntyre

Melanie A. McIntyre

Vice President and Corporate & Institutional Service Sales Officer
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Lakeland Financial Office Locations

Lakeland Financial has an office in Warsaw
Warsaw, IN, US (HQ)
202 E Center St
Show all (1)

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.
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

22.2m25.2m30.7m30.1m31.5m32.9m36.0m985.0k45.0m46.8m

Revenue growth, %

37%5%12%

Sales and marketing expense

639.0k

R&D expense

3.7m4.4m5.6m6.2m7.6m8.1m8.2m9.7m10.4m11.9m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

5.9m5.9m5.9m5.8m6.2m7.5m7.6m7.8m7.4m7.6m7.9m7.8m7.7m7.9m7.0m8.1m9.0m8.3m8.8m9.5m9.9m2.4m280.0k11.5m11.6m10.8m10.8m11.2m13.1m

Sales and marketing expense

481.0k474.0k

R&D expense

979.0k729.0k841.0k1.1m1.1m1.3m1.4m1.4m1.5m1.5m1.6m1.8m1.9m2.0m2.0m2.1m2.0m2.0m2.0m2.0m2.5m2.3m2.5m2.4m2.6m2.6m2.9m2.8m3.0m

Operating expense total

4.7m3.6m4.1m4.5m4.3m4.3m4.7m5.3m3.2m3.7m3.9m3.2m3.5m3.6m3.6m3.7m3.5m3.5m3.6m3.6m4.0m3.9m4.5m4.7m4.9m4.9m5.2m4.6m5.2m
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

30.7m35.4m38.8m43.8m46.4m52.1m57.3m80.4m87.0m84.3m

Depreciation and Amortization

54.0k2.8m3.0m3.4m3.8m4.2m5.1m5.7m5.9m6.0m

Accounts Payable

1.6m

Cash From Operating Activities

51.3m50.6m63.0m55.7m55.8m62.2m77.2m105.0m100.0m87.2m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Net Income

14.0m22.4m8.6m17.4m26.8m9.2m18.5m28.3m9.9m21.2m32.7m11.1m22.5m34.1m12.3m25.1m38.6m14.5m29.9m45.7m18.3m38.5m59.0m21.7m43.4m64.8m17.3m37.0m59.7m

Depreciation and Amortization

27.0k41.0k13.0k1.3m2.0m679.0k1.4m2.2m830.0k1.7m2.5m956.0k1.9m2.8m983.0k2.0m3.1m1.2m2.4m3.7m1.4m2.8m4.2m1.4m2.9m4.4m1.5m3.0m4.5m

Accounts Payable

1.0m1.3m3.7m1.4m2.0m

Cash From Operating Activities

28.5m38.3m14.0m24.2m36.8m23.1m31.2m50.2m14.9m25.8m39.7m16.5m26.4m43.1m18.5m34.8m49.5m20.8m35.9m53.1m25.9m45.6m75.2m23.7m44.7m71.9m19.5m40.7m61.3m
USDQ2, 2011

Debt/Equity

0.5 x

Debt/Assets

0.1 x

Financial Leverage

10.5 x
Show all financial metrics

Lakeland Financial Operating Metrics

Lakeland Financial's Total Loans was reported to be $3.6b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 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
Show all operating metrics

Lakeland Financial Cybersecurity Score

Cybersecurity ratingPremium dataset

A

91/100

SecurityScorecard logo

Lakeland Financial Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Lakeland Financial Online and Social Media Presence

Embed Graph

Lakeland Financial News and Updates

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…

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 …

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 …

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

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.

Lakeland Financial Reports Record Quarterly Performance

Net Income Increases 18% and Dividend Increases 16% Net Income Increases 18% and Dividend Increases 16%
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Lakeland Financial Blogs

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…

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…

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…

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…

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…

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…
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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.