Lake City Bank Hits Record Profit

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Lakeland Financial Corp. is the parent of Lake City Bank. Lakeland Financial Corp. is the parent of Lake City Bank.
WARSAW -

Warsaw-based Lakeland Financial Corp. (Nasdaq: LKFN) is reporting record third quarter net income of $15.8 million, up from $13.5 million during the same period last year. Chief Executive Officer David Findlay says the results reflect "the continued geographic and balance sheet expansion of Lake City Bank."

This the seventh consecutive quarter of record profit for the parent of Lake City Bank. The bank says its year-to-date net income has also hit a record high of $45.7 million, up from $38.6 million during the same period in 2016.

“Revenue growth is the greatest driver of our strong performance in 2017 as we have experienced strong loan demand, an expansion in our net interest margin and excellent growth in fee-based services throughout our business units," added Findlay. "As a result of our strong income performance in 2017, our capital position has strengthened further and we continue to deploy our capital by reinvesting in our Indiana communities and through our recently increased common stock dividend to our shareholders."

You can view Lakeland Financial's full earnings report by clicking here

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