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Lake City Bank in Warsaw, Ind., is planning to add three Indianapolis branch locations in roughly the next 15 months.
October 14 -
Lakeland Financial in Warsaw, Ind., has appointed Lisa O'Neill as its new chief financial officer. She joins the $3.2 billion-asset company from First Manitowoc Bancorp in Manitowoc, Wis., where she has served as CFO since 2007.
March 25 -
Lakeland Financial (LKFN) in Warsaw, Ind., reported higher quarterly profit driven by loan growth.
January 27
Lakeland Financial in Warsaw, Ind., rode double-digit loan growth and credit-quality improvements to an 18% increase in profits.
The $3.4 billion-asset company reported net income of $11.5 million in the third quarter, and diluted income per common share was $0.69, slightly below the $0.694 average estimate of analysts polled by Bloomberg.
Loans rose 13% from a year earlier, to $2.7 billion, on gains in several commercial lending categories. Net interest income grew a corresponding 13%, to just under $26 million. Net interest margin rose two basis points, to 3.31%.
Lakeland shrank its nonperforming assets by 36%, to $15 million. It recorded no provisions for losses.
Noninterest income stayed level with last years third quarter at $7.8 million. Noninterest expense also stayed fairly steady, too, increasing only $400,000, primarily on employee costs.
Lakeland is the holding company of Lake City Bank. The company plans to expand in the Indianapolis metro area, announcing
