Lake City Bank Named to KBW Bank Honor Roll of High Performing Banks for the 9th Consecutive Year
Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN), announced today that the bank was included in the 2020 KBW Bank Honor Roll published by Keefe Bruyette & Woods (KBW). This represents the ninth consecutive year that the bank has earned a place in the listing.
Lake City Bank is one of 15 banking institutions that met KBW’s criteria for inclusion in the 2020 Bank Honor Roll; all 15 banks are returning members to the list.
“We’ve always been proud of our inclusion in the KBW Bank Honor Roll, particularly because it represents our long term track record of creating value for our shareholders,” said David M. Findlay, President and Chief Executive Officer. “But inclusion this year recognizes our performance during a very difficult time, and we’re pleased to be placed among our top-performing peers for the ninth consecutive year.”
To be eligible for the KBW Bank Honor Roll, banks with more than $500 million in total assets must have reported consecutive increases in annual earnings per share before extraordinary items on a diluted basis over the past decade. KBW Bank Honor Roll members also 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 375 companies.
Keefe, Bruyette & Woods, a wholly owned subsidiary of Stifel Financial Corp., 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.
Lake City Bank, a $5.0 billion bank headquartered in Warsaw, Indiana, is the sixth largest bank headquartered in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 50 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 Global Select/LKFN).