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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.

TypePublic
Founded1872
HQWarsaw, IN, USMap
Websitelakecitybank.com
View Jobs (11)

Recent NewsAll News

Latest Updates

Employees (est.) (Dec 2019)568(+3%)
Job Openings11
Revenue (FY, 2020)$46.8 M(+5%)
Share Price (Nov 2021)$73.7(-2%)
Cybersecurity ratingAMore
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Key People/Management at Lakeland Financial

David M. Findlay

David M. Findlay

President and Chief Executive Officer, Director
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
Douglas R. Samuels

Douglas R. Samuels

Vice President and Treasury Management 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 (Q1, 2021)

12.6m

Net income (Q1, 2021)

23.0m

Market capitalization (12-Nov-2021)

1.9b

Closing stock price (12-Nov-2021)

73.7

Cash (31-Mar-2021)

501.9m

EV

1.5b
Lakeland Financial's current market capitalization is $1.9 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, 2020Q1, 2021

Revenue

5.9m5.9m5.9m5.8m6.2m7.5m7.6m7.8m7.4m7.6m7.9m7.8m7.7m7.9m7.0m8.1m9.0m8.3m8.8m9.5m9.9m2.4m280.0k11.5m11.6m10.8m10.8m11.2m13.1m12.6m

Sales and marketing expense

481.0k474.0k

R&D expense

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

Operating expense total

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

Cash

104.6m232.2m63.1m90.6m80.7m167.3m176.2m216.9m99.4m249.9m

Accounts Receivable

2.2b2.2b2.5b2.7b3.0b3.5m3.8b3.9b4.0b4.6b

Inventories

PP&E

34.7m34.8m39.3m42.0m46.7m56.5m58.1m60.2m59.3m
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, 2020Q1, 2021

Cash

60.3m101.3m167.0m194.9m181.4m75.7m63.6m81.3m77.1m160.4m70.2m113.0m89.5m98.1m80.7m108.9m278.4m111.6m137.3m129.8m167.6m180.2m182.3m188.8m196.4m136.6m132.6m126.3m129.1m501.9m

Accounts Receivable

2.1b2.1b2.2b2.2b2.2b2.2b2.3b2.3b2.5b2.6b2.7b2.7b2.8b2.9b3.1b3.2b3.2b3.5b3.5b3.6b3.8b3.8b3.8b3.9b3.9b4.0b4.0b4.4b4.5b4.4b

PP&E

30.7m31.7m35.0m35.0m35.0m34.5m35.3m38.5m39.6m39.9m40.5m42.4m43.4m44.0m48.6m49.1m52.2m53.2m56.5m56.4m55.7m57.2m57.6m58.8m58.7m59.6m60.9m60.3m60.3m59.9m

Goodwill

5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m
show all
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, 2020Q1, 2021

Net Income

14.0m22.4m8.6m17.4m26.8m9.2m18.5m28.3m9.9m21.2m32.7m11.1m22.5m34.1m12.3m25.1m38.6m14.5m29.9m45.7m18.3m38.5m59.0m21.7m43.4m64.8m17.3m37.0m59.7m23.0m

Depreciation and Amortization

27.0k41.0k13.0k1.3m2.0m679.0k1.4m2.2m830.0k1.7m2.5m956.0k1.9m2.8m983.0k2.0m3.1m1.2m2.4m3.7m1.4m2.8m4.2m1.4m2.9m4.4m1.5m3.0m4.5m1.6m

Accounts Payable

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

Cash From Operating Activities

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

464748

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$3.2 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

96/100

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Lakeland Financial Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

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Lakeland Financial Online and Social Media Presence

Lakeland Financial's Trends

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Lakeland Financial News and Updates

October 25, 2021

Lakeland Financial Reports Record Third Quarter 2021 Performance; Year-to-Date Record Net Income Improves by 20% to $71.5 Million

WARSAW, Ind., Oct. 25, 2021 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record third quarter net income of $24.1 million for the three months ended September 30, 2021, an increase of 6%, versus $22.8 million for t…
July 29, 2021

Lakeland Financial to be added to the S&P SmallCap 600 Index

WARSAW, Ind., July 29, 2021 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, will be added to the S&P SmallCap 600 Index after the close of trading on Tuesday, August 3, 2021.
July 26, 2021

Lakeland Financial Reports Record Second Quarter 2021 Performance

WARSAW, Ind., July 26, 2021 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record quarterly net income of $24.3 million for the three months ended June 30, 2021, an increase of 24% versus $19.7 million for the second…
April 26, 2021

Lakeland Financial Reports Record First Quarter 2021 Performance

WARSAW, Ind., April 26, 2021 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported record quarterly net income of $23.0 million for the three months ended March 31, 2021, an increase of 33% versus $17.3 million for the firs…
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 …
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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…
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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 David M. Findlay, Michael E. Gavin and Anna N. Corkill.

  • 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 SVB Financial Group, 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.