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
HQWarsaw, US
Founded1872
Size (employees)553 (est)+6%
Websitelakecitybank.com
Lakeland Financial was founded in 1872 and is headquartered in Warsaw, US
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Key People/Management at Lakeland Financial

Kevin L. Deardorff

Kevin L. Deardorff

Executive Vice President and Retail Banking Manager
Michael E. Gavin

Michael E. Gavin

Executive Vice President and Chief Credit Officer
Lisa M. O'Neill

Lisa M. O'Neill

Executive Vice President and Chief Financial Officer
Eric H. Ottinger

Eric H. Ottinger

Executive Vice President and Commercial Banking Manager
Jill A. Debatty

Jill A. Debatty

Senior Vice President and People Development Director
Jonathan P. Steiner

Jonathan P. Steiner

Senior Vice President and Wealth Advisory Group Manager
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Lakeland Financial Office Locations

Lakeland Financial has an office in Warsaw
Warsaw, US (HQ)
202 East Center Street, P.O. Box 1387
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Lakeland Financial Financials and Metrics

Lakeland Financial Revenue

Lakeland Financial's revenue was reported to be $201.71 m in FY, 2017
USD

Revenue (Q3, 2018)

60.8m

Gross profit (Q3, 2018)

48.4m

Gross profit margin (Q3, 2018), %

79.5%

Net income (Q3, 2018)

20.6m

EBIT (Q3, 2018)

36.8m

Market capitalization (14-Dec-2018)

1.0b

Closing stock price (14-Dec-2018)

41.2

Cash (30-Sep-2018)

182.3m

EV

971.0m
Lakeland Financial's current market capitalization is $1 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

107.7m147.3m154.0m171.8m201.7m

Revenue growth, %

37%5%12%

Cost of goods sold

16.6m20.5m29.8m

Gross profit

137.4m151.3m171.9m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

38.0m38.9m40.3m42.4m44.1m46.4m49.6m52.1m55.9m58.5m60.8m

Cost of goods sold

4.2m4.3m4.6m5.1m5.4m6.1m7.0m8.0m9.8m11.3m12.5m

Gross profit

33.8m34.6m35.6m37.3m38.7m40.3m42.6m44.1m46.1m47.2m48.4m

Gross profit Margin, %

89%89%89%88%88%87%86%85%82%81%80%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

63.1m90.6m80.7m167.3m176.2m

Accounts Receivable

8.6m8.7m9.5m3.5m

Inventories

Goodwill

5.0m5.0m5.0m5.0m5.0m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

81.3m77.1m160.4m70.2m113.0m89.5m98.1m80.7m108.9m278.4m111.6m137.3m129.8m167.6m180.2m182.3m

Goodwill

5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m5.0m

Total Assets

3.0b3.2b3.4b3.4b3.5b3.6b3.7b3.8b3.9b4.2b4.3b4.4b4.5b4.7b4.8b4.8b

Accounts Payable

2.4b2.7b2.8b2.9b3.0b3.0b3.1b3.3b3.4b3.7b3.7b3.6b3.9b4.1b3.9b4.0b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

38.8m43.8m46.4m52.1m57.3m

Depreciation and Amortization

3.0m3.4m3.8m4.2m5.1m

Inventories

Accounts Payable

Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

28.3m9.9m21.2m32.7m11.1m22.5m34.1m12.3m25.1m38.6m14.5m29.9m45.7m18.3m38.5m59.0m

Depreciation and Amortization

2.2m830.0k1.7m2.5m956.0k1.9m2.8m983.0k2.0m3.1m1.2m2.4m3.7m1.4m2.8m4.2m

Cash From Operating Activities

50.2m14.9m25.8m39.7m16.5m26.4m43.1m18.5m34.8m49.5m20.8m35.9m53.1m25.9m45.6m75.2m

Purchases of PP&E

(142.0m)(13.5m)(29.5m)(58.7m)(26.1m)(43.9m)(70.2m)(27.0m)(53.8m)(77.1m)(52.8m)(90.1m)(114.2m)(53.8m)(72.7m)(100.7m)
USDY, 2018

EV/EBIT

26.4 x

EV/CFO

12.9 x

Financial Leverage

9.5 x
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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
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Lakeland Financial Online and Social Media Presence

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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 Company Life and Culture

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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 Kevin L. Deardorff, Michael E. Gavin and Lisa M. O'Neill.

  • How many employees does Lakeland Financial have?

    Lakeland Financial has 553 employees.

  • What is Lakeland Financial revenue?

    Latest Lakeland Financial annual revenue is $201.7 m.

  • What is Lakeland Financial revenue per employee?

    Latest Lakeland Financial revenue per employee is $364.8 k.

  • Who are Lakeland Financial competitors?

    Competitors of Lakeland Financial include Chemical Bank, Orrstown Financial Services and Blue Hills Bancorp.

  • Where is Lakeland Financial headquarters?

    Lakeland Financial headquarters is located at 202 East Center Street, P.O. Box 1387, 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.