At Lake City Bank, we define Stewardship—one of our core values—as taking care of people: our employees, customers, communities, and shareholders. That means being thoughtful about every detail, including how our operations impact the environment.

Our efforts range from using LED light fixtures to recycling paper, cardboard, and electronic equipment. Learn more about our recycling program.

Naturally, banking involves paper—statements, notices, receipts, and more. But producing and disposing of paper uses significant resources, including water, trees, and electricity. That’s why we continue to invest in solutions that reduce paper waste without compromising service.

“The most efficient way to reduce waste is to avoid producing it in the first place,” said Stephanie Leniski, Executive Vice President and Chief Retail Banking Officer. “That’s why we encourage customers to choose digital delivery. It’s safe, easy, and reduces paper consumption.”

Partnering with Customers to Cut Paper Waste

eStatements
Nearly 55% of Lake City Bank customers have opted for eStatements, saving an average of 2.27 million sheets of paper each year since 2022—not to mention envelopes, postage, and delivery energy. Customers can also choose electronic delivery for tax documents and notices, extending the impact even further.

Mobile Deposits
In 2012, approximately 5,500 checks were deposited via mobile. That number has surged to over 95,000 in 2024—an increase of more than 2,000%. Each mobile deposit saves paper receipts and often eliminates a trip to the branch.

Digital Tools for Business
Autobooks, introduced in 2022, helps businesses send digital invoices and accept online payments. In 2024, nearly 9,000 payments were processed, including 3,600 invoices—transactions that previously would have potentially required multiple sheets of paper.

We’re also in the process of developing a fully online small business loan application through Lake City Bank Digital. Every online loan approval is expected to save 15–20 sheets of paper compared to traditional closing packets.

More Paper-Saving Solutions

• Skip-a-Pay
  Newly offered through Lake City Bank Digital, our Skip-a-Pay program allows eligible customers to defer a loan payment up to twice a year. By offering and promoting the program digitally, we save roughly 1,200 printed mailings each quarter—including paper, envelopes, and postage.
• Cash Line Overdraft Protection
  Our Cash Line line of credit, available to open entirely online, saves up to 11 printed pages (single-sided) per account by using electronic documents and e-signatures.
• Online Account Opening
  Customers can open a range of personal checking and savings accounts online without needing to print or sign paper forms.

We’re Just Getting Started

“Stewardship is more than just a word for us—it’s how we operate,” Leniski said. “We’re proud of the paper reductions we’ve achieved with our customers, and we’re committed to expanding digital solutions that make an even bigger impact.”

All loans are subject to credit approval.

Lake City Bank is pleased to welcome Casindra N Shoaf, PMP, PMI-ACP, as Vice President, Project Management Officer.

In this position, Shoaf manages projects from planning through delivery, coordinating project teams with members from throughout the bank. She has 20 years of experience in financial services.

Shoaf earned an associate degree in business administration from the International Business College of Fort Wayne. She is a certified Project Management Professional (PMP) and Agile Certified Practitioner from the Project Management Institute (PMI-ACP).

Lake City Bank, a $6.9 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit www.lakecitybank.com.

Key Takeaways

• • • • • • Online banking is by far the most popular way to bank.
          • Strong passwords, extra security steps, and alerts can help protect your information.
          • Staying alert to phishing scams is important too.

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  • Most people—nearly 75 percent—prefer digital banking to visiting a branch, according to an August 2024 MarketWatch survey*. And what’s not to like? Digital banking is easy and fast. But even though it’s built to be safe, you still need to take steps to protect your personal information and money. Here are some tips on how to stay safe.
    

    Make Access Difficult

    Use a strong password with a mix of capital and lowercase letters, numbers and symbols. Don’t include personal information like your name or birthdate and change your password periodically. If you have trouble remembering passwords, use a password manager app and you’ll only have to remember one password.

    Consider using biometric login—like fingerprint or facial recognition—if your banking app offers it. It’s a simple way to add an extra layer of protection to your account.

    Keep your device secure as well by setting a password to gain access. Follow the same guidelines as outlined above and change your password periodically.

    Don’t Share Passwords

    Don’t share your password, secure access code or other personal information, even if the request looks legitimate. Scammers sometimes pretend to be your bank and ask for personal information through fake websites, emails, or phone calls. Your bank will never ask for your password this way. If something seems strange, don’t answer—call your bank directly to check.

    Alerts Are Your Friend

    Set up alerts that notify you about activity on your account, like transactions, password changes and profile changes. For example, with Lake City Bank Digital’s alerts feature you can customize transaction, history and security alerts and receive them via text, email or phone. You’ll know about suspicious activity ASAP. Watch a video about our alerts feature here.

    Don’t Bank on Public Wi-Fi

    Try not to do online banking when you’re using public Wi-Fi—like at a coffee shop or airport. These networks are easier for hackers to break into. Use your own secure internet or wait until you get home. Also, turn off the setting that connects your phone to public Wi-Fi automatically.

    Watch Out for Phishing Scams

    Phishing scams come in many forms and change often, so it’s important to stay alert. Phishing happens when a scammer sends you an email or text asking you to click a link or open an attachment and share personal information. The message looks like it’s from someone you trust, like your bank or credit card company, but there’s often a slight difference that’s easy to miss. If you provide personal information, the scammer can access your accounts or launch software called malware that infects your device. If you get a suspicious message, don’t open it or click on anything. Instead, call your bank or credit card company to report it.

    Extra Peace of Mind

    Want even more protection? Lake City Bank offers Experian® IDnotify® through My Toolkit in Lake City Bank Digital. This service helps watch for signs of identity theft—like if your personal information shows up where it shouldn’t—and alerts you quickly so you can take action. Combined with smart habits like strong passwords, alerts, and knowing how to spot scams, it’s one more way to stay safe and feel confident when you bank online.

     

    *Source: https://www.marketwatch.com/financial-guides/banking/consumer-banking-survey/

Lakeland Financial Corporation (Nasdaq Global Select/LKFN) and Lake City Bank announced today that Dan Starr and Mindy Creighton Truex have been appointed to their respective Boards of Directors. Read more.

Dan Starr

Mindy Creighton Truex

Lake City Bank is pleased to welcome Brittany Hall as Vice President, Retail Banking Officer of the Indianapolis Clearwater branch.

In this position, Hall leads sales and service efforts in the branch, manages the daily operations of the office and supports office staff in their efforts to provide quality service and build customer relationships. She has 22 years of experience in financial services.

Hall earned a bachelor’s degree in human resources from Western Illinois University. She volunteers with Habitat for Humanity and Junior Achievement.

Lake City Bank, a $6.9 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit www.lakecitybank.com.

Key Takeaways

• • • • • Dedicate time and resources to build a strong financial foundation for your business.
        • Set SMART goals and work to achieve them.
        • Analyze your successes and failures when planning for the future.
        • Monitor your competition.
        • Watch your cash flow and adjust as needed.
        • Don’t be afraid to ask for advice.
        • Manage your debt and savings to strengthen your finances.

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    Your business—whether it’s a corner bakery, a garden center or an accounting practice—needs a firm financial foundation to survive. Setting and reaching financial goals means the business that started with your passion will thrive. Read on for financial goals that every small business should have.

    Learn from successes and failures

    Spend some time thinking about what has worked for your business and why. Do more of what works. Likewise, understand why certain ideas didn’t work so you can improve or try something new.

    Set goals and make them SMART

    When you set goals, make them SMART: Specific, Measurable, Achievable, Relevant and Time-bound. For example, you may want to increase sales by five percent in six months. SMART goals like this help you narrow your focus and increase your potential for success.

    Keep track

    Even SMART goals need monitoring! Design a plan for how you’ll meet your goals, then monitor regularly to make sure you’re on track.

    Check out the competition

    Pay close attention to your competition. Study their product offerings, pricing, wins and losses, and reputation within the community. Visiting your competition as a customer to get first-hand insights and keeping an eye on their online presence are great first steps. You’ll be better able to differentiate your business, target unmet needs, and avoid their mistakes.

    Keep a close watch on dollars and cents

    Make sure you’re using tools to make the most of your assets. Create a budget and stick to it. Review your budget regularly to make sure it meets your needs. Manage your cash flow by monitoring your accounts payable and receivable and analyzing patterns. If needed, shorten payment terms to improve cash flow.

    Don’t forget savings and debt

    Reducing debt lowers interest costs and frees up money for other things. Just like at home, your business needs savings to take advantage of opportunities when they arise and to deal with emergencies.

    Ask for advice

    Don’t be afraid to consult with experts who can help you tackle unfamiliar topics. Accountants, financial advisors, tax planners and your community bank around the corner can help you refine your goals, plan for tax issues and navigate money management.

    No matter the business you’re in, setting and reaching financial goals will help your business thrive.

Lake City Bank’s Carmel, Indiana office is one of many locations created by repurposing an existing building—making smart use of resources while maintaining strong community connections.

At Lake City Bank, recycling takes on a whole new meaning when it comes to buildings. For decades, the bank has prioritized repurposing existing facilities over constructing new ones, embodying its commitment to sustainably managing resources.

“We integrate eco-friendly practices into every aspect of our operations, including our facilities,” said Lake City Bank President Kristin Pruitt. “When it’s possible and makes sense strategically, we prefer to repurpose a building rather than build a new one.”

A prime example is the bank’s headquarters building in Warsaw. Originally built in 1961 as the downtown Warsaw office, it underwent a significant expansion in 1972 with the addition of a second story to increase office space. Subsequent remodels to this building and others have ensured that the bank’s technology, HVAC and energy systems remain up to date. Across all renovation and construction projects, the bank has replaced older lighting fixtures with LED lighting, many of which include motion sensors to further conserve energy—resulting in a 50% reduction in lighting energy consumption.

The headquarters anchors the bank’s downtown campus, which comprises seven buildings and houses approximately 270 employees. Since 2020, the bank has invested around $30 million to modernize the downtown campus and its 12 Kosciusko County branches. The latest addition, the Innovation and Technology Center, was purchased for renovation in the fall of 2024.

“Our presence in downtown Warsaw matters on several levels,” said David M. Findlay, Chairman and Chief Executive Officer. “Lake City Bank started here in 1872, and we plan to stay here. As a community bank, we are committed to contributing to the vitality of downtown Warsaw. Having our operations, technology and support teams together on one campus fosters in-person connections, which we believe leads to better outcomes for both the bank and our customers.”

The bank’s reuse-recycle philosophy extends to its branch buildings as well. Over a third of the bank’s 54 offices are located in upcycled existing buildings. This approach not only reduces costs compared to new construction but also minimizes landfill waste from building demolition.

“Our strategy for adapting buildings for our branches is simple,” said Executive Vice President and Chief Retail Banking Officer Stephanie Leniski. “We aim to be centrally located in the communities we serve. Often, we find a great existing location and adapt it rather than build a new facility. It’s a win all the way around because we help preserve a community’s architectural character and we add a great location to our branch network.”

The bank considers future growth and needs before starting any building or remodeling project.

“We build with growth in mind,” said Vice President and Director of Facilities and Security Rich Hoover. “Planning space for additional employees and functionality helps us react quickly when the need to expand arises.”

Managing resources through remodeling and reusing existing facilities is just part of Lake City Bank’s commitment to sustainability. The bank’s energy efficiency initiatives, paperless enhancements, and recycling programs touch every area of the company. Read more here.

Key Takeaways

• • • • • • Banks vary in size; community banks can offer local expertise based on smaller size.
          • In general, bank products and services are very similar, but can vary in complexity.
          • Most banks protect deposits through FDIC membership.
          • Digital banking access allows you to monitor your accounts and bank online, but systems vary.
          • Community banks are more likely to make decisions, particularly for business loans, based on local conditions and relationships.

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    With so many banks available, choosing the best one for you can seem complicated. Comparing big banks to community banks can help clarify your options.

    What’s a community bank? What’s a big bank?

    Asset size is a good baseline for comparing banks and what they offer. According to the Federal Reserve, community banks have less than $10 billion in assets, while regional banks have $10 billion to $100 billion.¹ Banks with more than $100 billion in assets are considered Large Financial Institutions.² The size of the bank can affect what it offers, like the number of products, loan decisions and fees. 

    Regardless of size, banks have a lot in common

    In principle, all banks operate the same way: they pay interest on deposits and then charge interest to loan money. Banks provide security, too. Most U.S. banks protect deposits through membership in the Federal Deposit Insurance Corporation (FDIC). FDIC insurance secures deposits against bank failure up to $250,000 per depositor, per ownership category.³

    Banks differ in other ways too. Read on to find out more.

    Products and services

    All banks offer similar products and services: deposit products like checking and savings accounts; loans for individuals like home mortgages, home equity lines of credit, credit cards and personal loans; and loans for businesses like equipment loans, operating expense lines of credit and property loans. Based on resources, big banks often offer a larger and more specialized set of products than community banks.

    Access to your money

    People want to access their accounts anytime, anywhere. Digital access varies significantly among banks, with larger institutions typically offering more advanced solutions compared to community banks. It’s worth researching, however, as Lake City Bank Digital is comparable to the digital offerings of larger banks.

    Big banks have more branch offices and ATMs across larger geographic areas, making it easier for customers to stay with the same bank if they move to a new city. Some smaller banks, like Lake City Bank, offer checking accounts that refund ATM fees up to a certain level if account requirements are met.

    Local or Centralized

    Community banks focus on local areas, resulting in more personalized service and involvement in local activities. Often, business loans are approved and priced locally based on local business and economic insights. While large banks can offer a broader product set than smaller banks, loan decisions are typically made centrally, without the customization that comes from local knowledge.

    What’s best for me?

    Your choice should reflect what you need most from a financial institution. Be sure to do your research before you make that first deposit.

     

    Sources:

    ¹ https://www.federalreserve.gov/supervisionreg/community-and-regional-financial-institutions.htm

    ² https://www.federalreserve.gov/supervisionreg/large-financial-institutions.htm

    ³ https://www.fdic.gov/resources/deposit-insurance/financial-products-insured

Lake City Bank is pleased to announce that Eric D. Neuenschwander has been promoted to Vice President, Fair Lending Officer.

In this position, Neuenschwander is responsible for implementing fair lending initiatives and creating and maintaining fair lending and redlining risk assessments. He has been with the bank for 17 years.

Neuenschwander earned a bachelor’s degree from Huntington University and has a Certified Regulatory Compliance Manager (CRCM) certification.

He volunteers with Junior Achievement and Youth for Christ Northern Indiana.

Lake City Bank, a $6.9 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit www.lakecitybank.com.

Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $20.1 million for the three months ended March 31, 2025, which represents a decrease of $3.3 million, or 14%, compared with net income of $23.4 million for the three months ended March 31, 2024. Diluted earnings per share were $0.78 for the first quarter of 2025 and decreased $0.13, or 14%, compared to $0.91 for the first quarter of 2024. On a linked quarter basis, net income decreased $4.1 million, or 17%, to $24.2 million. Diluted earnings per share decreased $0.16, or 17%, from $0.94 on a linked quarter basis. Read more.