Indiana Banks Earn National Distinction
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA New York-based investment banking firm has named three Indiana banks to its annual Honor Roll. Keefe, Bruyette & Woods Inc. examined the performance of the institutions over 10 years. The Indiana banks on the 2014 KBW Bank Honor Roll are:
South Bend-based 1st Source Corp. (Nasdaq: SRCE)
Jasper-based German American Bancorp Inc. (Nasdaq: GABC)
Warsaw-based Lakeland Financial Corp. (Nasdaq: LKFN)
Source: Keefe, Bruyette & Woods Inc.
April 16, 2015
News Release
SOUTH BEND, Ind. (April 13, 2015) – 1st Source Corporation (NASDAQ:SRCE) has once again been named to the Keefe, Bruyette & Woods, Inc. (KBW) “Bank Honor Roll” of Superior Performers in recognition of the bank’s strong performance over the past ten years. 1st Source is one of 25 banks to be named to this esteemed list.
“It is an honor to be recognized for our strong performance over the past decade”
“It is an honor to be recognized for our strong performance over the past decade,” said Christopher J. Murphy III, 1st Source Chairman and CEO. “1st Source has performed well at one of the most challenging times in the history of U.S. banking and it speaks to our strength and stability. We have done so by staying true to our mission of helping our clients achieve security, build wealth and realize their dreams and will continue to do so in the years ahead.”
1st Source has been named to the Bank Honor Roll four consecutive years.
According to KBW, the Bank Honor Roll winners significantly outperform both their banking peers and the market and have better-than-industry performance ratios and growth rates.
KBW Bank Honor Roll winners are publicly traded banking institutions with more than $500 million in total assets that meet three conditions:
No annual loss reported in net income per share before extraordinary items over the past 10 years; 2014 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years.
Consecutive increases in net income per share before extraordinary items since 2009.
1st Source Corporation, parent company of 1st Source Bank, has assets of $4.83 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 80 banking, 22 1st Source Bank Specialty Finance Group locations nationwide, eight Trust and Wealth Management locations and eight 1st Source Insurance offices. For more than 150 years, 1st Source has been committed to the success of the communities it serves. For more information, visit www.1stsource.com.
Source: 1st Source Corp.
April 16, 2015
News Release
WARSAW, Ind. – Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq:LKFN), announced today that the bank was included in the KBW Bank Honor Roll published by Keefe Bruyette & Woods (KBW). This represents the fourth consecutive year that the bank has been included in the KBW Honor Roll.
Lake City Bank is one of 25 banking institutions with a ten-year record that met KBW's criteria for inclusion in the 2014 Bank Honor Roll; the bank is also one of 23 members returning to the list.
To qualify for the honor roll, banks with more than $500 million in total assets must have:
-No annual loss reported in net income per share before extraordinary items over the past 10 years;
-2014 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
-Consecutive increases in net income per share before extraordinary items since 2009.
“We are particularly pleased to be included in the KBW Honor Roll for the fourth consecutive year as it represents a group of high performing banks that have consistently produced quality earnings over a long period of time. At Lake City Bank, we're very proud of the fact that we have produced record net income in 25 of the last 26 years. It's this kind of consistent results that the Honor Roll represents,” said David M. Findlay, President and Chief Executive Officer.
“We found that the KBW Bank Honor Roll members have better than industry performance ratios and growth rates when compared to the publicly traded bank universe with total assets greater than $500 million, which includes nearly 400 companies listed on the NYSE and Nasdaq exchanges,” KBW reported when announcing 2014 honor roll members.
Keefe, Bruyette & Woods, a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), is a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector and is widely recognized as a leading authority in the banking industry.
The full news release announcing the 2014 Bank Honor Roll can be accessed at:
http://www.stifel.com/docs/pdf/pressreleases/2015/KBW-Bank-Honor-Roll.pdf
Lake City Bank, a $3.5 billion bank headquartered in Warsaw, Indiana, is the fourth largest bank in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 46 branch offices in northern and central Indiana, delivering technology-driven solutions in a client-centric way to individuals and businesses. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq:LKFN). For more information visit www.lakecitybank.com.
Source: Lakeland Financial Corp.