Lakeland Finan…
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Lakeland Financial

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    • Financial Servicesbanksbrokeragecommercial banksholding companyinsuranceinvestment managementmortgages

    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.

    Revenue(FY, 2017)
    $201.7 M
    Market capitalization(2018-12-14)
    $1 B
    Total Loans(Q2, 2017)
    $3.6 B

    Employee Rating

    0More
    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%
    show all
    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
    show all
    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)
    show all
    USDY, 2018

    EV/EBIT

    		26.4 x

    EV/CFO

    		12.9 x

    Financial Leverage

    		9.5 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
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    Competitors

    Chemical Bank
    Financial Services - Public
    Orrstown Financial Services
    Business Products & Services - Public
    Blue Hills Bancorp
    Financial Services - Public
    Washington Federal
    Financial Services - Public
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    Lakeland Financial Online and Social Media Presence

    Embed Graph
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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 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.