Building and Caring for Our Team
Lake City Bank is committed to being the acknowledged and recognized leader in Indiana Community Banking. We achieve this mission only through the hard work and dedication of our employees. The bank team is 616 people strong, including 567 full-time, 37 part-time, and 12 seasonal/temporary employees as of December 31, 2021.
Diversity and Inclusiveness
The bank is committed to social and governance responsibility, and in 2020, the management team added “inclusivity” as the eighth core value defining our organizational culture. The bank’s employee Code of Conduct supports diversity and inclusion efforts in our workplace, and we established a Diversity and Inclusion Task Force to develop and promote initiatives throughout the corporation. The task force developed and is carrying out a plan to further inclusivity at the bank, creating opportunities for education, awareness, and ongoing discussion of these important issues. Eighty-four percent of our employees identify as women or people of color. At present, women comprise 59% of the Bank’s officers (253 officers – 150 women), 33% (8 of 24 members) of Senior Leadership Council (which includes those with the title of Senior Vice President and above) and 44% (4 of 9 members) of the executive Management Committee. Additionally, three of our 13 board members identify as women or people of color.
Employee Engagement and Development
A positive workplace culture is vital to the bank’s success. By supporting, respecting, engaging, and appreciating employees, the bank has built a team well-equipped to show the same commitment to its customers. Building and strengthening this positive workplace culture starts with Lake City University. Founded in 1999, Lake City University is dedicated to helping employees thrive professionally and personally. In 2021, bank employees averaged 19.64 hours per employee of instruction through the program. From courses to improve technical skills, product knowledge, and customer service to classes focused on an employee’s wellbeing, like personal financial planning and benefits education, Lake City University supports and promotes the personal and professional growth of all bank employees. In 2021, 144 employees were promoted and 125 employees were hired externally, demonstrating a commitment to professional development of Lake City Bank employees.
In addition to the substantial investment in employee professional development, the bank’s benefit and compensation programs are designed to ensure we recruit and retain top talent. The bank offers employees a comprehensive health benefits package, provides a 401(k) match of up to 6% of an employee’s salary to encourage retirement savings, tuition reimbursement that 17 employees took advantage of in 2021, and structures its bonus program for officers to create meaningful performance-based incentives. These programs, combined with an intentional focus to create a positive, values-based culture, ensures the bank team will continue as the acknowledged and recognized leader in Indiana community banking.
Impact of Strong Labor Market
Indiana has a strong labor market, with an unemployment rate of 2.7% as of December 31, 2021. The U.S. Census Bureau announced Indiana’s population grew by 4.7% between 2010 and 2020, and manufacturing jobs increased 1.5% from December 2019 to December 2021. In this tight labor market, the company has focused on hiring and retaining talented employees, which has increased compensation expense during 2021.
Equal Employment Opportunity Company
Lake City Bank is proud to be an equal opportunity employer committed to a diverse, inclusive workplace. Employment at Lake City Bank is based solely on business needs, a person’s merit, and qualifications, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, age, protected veteran status, or any other characteristic protected by law. Lake City Bank will not tolerate discrimination or harassment based on any of these characteristics.