STOCK TITAN

Lake City Bank Expands Downtown Campus with Building Acquisition to become the Innovation and Technology Center

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)

Lake City Bank (Nasdaq: LKFN) has acquired a 35,600 square foot office building in Warsaw, Indiana, expanding its downtown campus. The building, purchased on August 30, 2024, will be renovated and renamed the Lake City Bank Innovation and Technology Center. This acquisition marks the 6th building in the bank's Downtown Warsaw campus, reinforcing its commitment to its hometown.

The new center will house the bank's Technology Services, Information Security, Application Management, and Project Management teams, supporting Lake City Bank's growth and technology-driven solutions. Since 2010, the bank has invested approximately $30 million in Warsaw facilities and Kosciusko County offices. The renovation will include modern amenities such as a coffee meeting location, a walk-up ITM, and advanced conference calling capabilities.

Lake City Bank (Nasdaq: LKFN) ha acquistato un edificio per uffici di 35.600 piedi quadrati a Warsaw, Indiana, ampliando il suo campus nel centro città. L'edificio, acquistato il 30 agosto 2024, sarà ristrutturato e ribattezzato Lake City Bank Innovation and Technology Center. Questo acquisto segna il sesto edificio nel campus Downtown Warsaw della banca, rafforzando il suo impegno verso la sua città natale.

Il nuovo centro ospiterà i team dei Servizi Tecnologici, Sicurezza Informatica, Gestione delle Applicazioni e Gestione dei Progetti della banca, supportando la crescita di Lake City Bank e le soluzioni guidate dalla tecnologia. Dal 2010, la banca ha investito circa 30 milioni di dollari nelle strutture di Warsaw e negli uffici della contea di Kosciusko. La ristrutturazione includerà servizi moderni come un'area caffè per incontri, un ITM accessibile a piedi e advanced conferenze telefoniche.

Lake City Bank (Nasdaq: LKFN) ha adquirido un edificio de oficinas de 35,600 pies cuadrados en Warsaw, Indiana, ampliando su campus en el centro. El edificio, adquirido el 30 de agosto de 2024, será remodelado y rebautizado como Lake City Bank Innovation and Technology Center. Esta adquisición marca el sexto edificio en el campus Downtown Warsaw del banco, reforzando su compromiso con su ciudad natal.

El nuevo centro albergará los equipos de Servicios Tecnológicos, Seguridad de la Información, Gestión de Aplicaciones y Gestión de Proyectos del banco, apoyando el crecimiento de Lake City Bank y sus soluciones impulsadas por la tecnología. Desde 2010, el banco ha invertido aproximadamente 30 millones de dólares en las instalaciones de Warsaw y en las oficinas del condado de Kosciusko. La remodelación incluirá comodidades modernas como un lugar para reuniones con café, un ITM accesible a pie y capacidades avanzadas de llamadas de conferencia.

Lake City Bank (Nasdaq: LKFN)는 인디애나주 워쇼에서 35,600 평방피트의 사무실 건물을 인수했습니다, 도심 캠퍼스를 확장하는 것입니다. 2024년 8월 30일에 구매된 이 건물은 리노베이션을 진행한 후 Lake City Bank Innovation and Technology Center라는 이름으로 바뀔 예정입니다. 이번 인수는 은행의 다우ntown 워쇼 캠퍼스에서 여섯 번째 건물이 되며, 고향에 대한 헌신을 강화합니다.

새로운 센터는 은행의 기술 서비스, 정보 보안, 애플리케이션 관리, 프로젝트 관리 팀을 수용하게 되며, Lake City Bank의 성장과 기술 기반 솔루션을 지원합니다. 2010년 이래로 은행은 워쇼 시설과 코스지우스코 카운티 사무소에 약 3천만 달러를 투자했습니다. 리노베이션에는 커피 미팅 공간, 대면 접근 가능한 ITM 및 고급 회의 통화 기능과 같은 현대적인 편의 시설이 포함될 것입니다.

Lake City Bank (Nasdaq: LKFN) a acquis un immeuble de bureaux de 35 600 pieds carrés à Warsaw, Indiana, élargissant ainsi son campus en centre-ville. L'immeuble, acheté le 30 août 2024, sera rénové et renommé Lake City Bank Innovation and Technology Center. Cette acquisition marque le sixième bâtiment sur le campus de Downtown Warsaw de la banque, renforçant son engagement envers sa ville natale.

Le nouveau centre abritera les équipes des services technologiques, de la sécurité de l'information, de la gestion des applications et de la gestion de projet de la banque, soutenant ainsi la croissance de Lake City Bank et ses solutions axées sur la technologie. Depuis 2010, la banque a investi environ 30 millions de dollars dans les installations de Warsaw et dans les bureaux du comté de Kosciusko. La rénovation comprendra des commodités modernes telles qu'un espace café pour les réunions, un ITM accessible à pied et des capacités avancées de conférences téléphoniques.

Lake City Bank (Nasdaq: LKFN) hat ein 35.600 Quadratfuß großes Bürogebäude in Warsaw, Indiana, erworben und seinen Campus im Stadtzentrum erweitert. Das am 30. August 2024 erworbene Gebäude wird renoviert und in Lake City Bank Innovation and Technology Center umbenannt. Diese Akquisition ist das sechste Gebäude im Downtown Warsaw Campus der Bank und verstärkt ihr Engagement für die Heimatstadt.

Das neue Zentrum wird die Teams für Technologiedienstleistungen, Informationssicherheit, Anwendungsmanagement und Projektmanagement der Bank beherbergen und das Wachstum von Lake City Bank sowie technologiegetriebene Lösungen unterstützen. Seit 2010 hat die Bank etwa 30 Millionen US-Dollar in die Einrichtungen in Warsaw und die Büros im Landkreis Kosciusko investiert. Die Renovierung umfasst moderne Annehmlichkeiten wie einen Kaffee-Meeting-Bereich, ein barrierefreies ITM und fortschrittliche Konferenzanrufmöglichkeiten.

Positive
  • Acquisition of 35,600 sq ft office building expands downtown campus
  • New Innovation and Technology Center to support continued growth
  • $30 million investment in Warsaw facilities since 2010
  • Largest employer in Downtown Warsaw with 279 employees
  • Strategic investment to enhance technology-driven solutions for clients
Negative
  • None.

WARSAW, Ind., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Lake City Bank has purchased the 35,600 square foot three story office building at 122 E. Center Street, Warsaw, IN on August 30, 2024. The office building will significantly expand the bank’s Warsaw Campus and support the continued growth of Lake City Bank. The newly acquired building will be substantially renovated and modernized and will be renamed the Lake City Bank Innovation and Technology Center. Lake City Bank has been headquartered in Warsaw since the bank was founded in 1872 and employs 279 employees in the Downtown Warsaw Campus, representing the largest employer in Downtown Warsaw.

“This acquisition adds the 6th building to our Downtown Warsaw campus and represents our continued commitment to the bank’s hometown. Throughout our 152-year history, we’ve been focused on taking care of our clients and communities in every Hoosier Community we serve. Increasingly, our clients are relying upon technology-driven solutions to manage their financial needs. The Lake City Bank Innovation and Technology Center will be home to our Technology Services, Information Security, Application Management and Project Management teams and will provide the bank with significant room to continue our growth well into the future,” said David M. Findlay, Chairman and Chief Executive Officer. “Since 2010, we’ve invested approximately $30 million in our Warsaw facilities and in our Kosciusko County bank offices. We have fully renovated and modernized our entire Warsaw footprint. We’ve proudly taken older buildings and brought them back to life with these major capital investments in our hometown.”

The building was constructed in 1968 by the United Telephone Company of Indiana to support the region’s telecommunications industry. The third floor has been leased by Lake City Bank since 2012. The first and second floors will be renovated to support additional future growth. The exterior of the building will be updated to reflect the bank’s current brand position. In addition to the added capacity for office space, Lake City Bank will incorporate flexible space options such as a coffee meeting location, a walk up ITM and various meeting rooms with modern conference calling capabilities to enhance communications with other locations in the Lake City Bank footprint.

“For 152 years, Lake City Bank has been growing and investing in the Warsaw community,” said Kristin L. Pruitt, President. “Our investment in this facility is strategic and will support the continued growth of our collaborative teams who deliver innovative products and services to our customers.”

Lake City Bank, a $6.6 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.

Image of the renovated Lake City Bank Innovation and Technology Center.

Contact
Lisa M. O’Neill
Executive Vice President and Chief Financial Officer
(574) 267-9125
lisa.oneill@lakecitybank.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2105cc44-cf41-49ab-8f79-e7fcafc9a3c3


FAQ

What building did Lake City Bank (LKFN) acquire in Warsaw, Indiana?

Lake City Bank acquired a 35,600 square foot three-story office building at 122 E. Center Street, Warsaw, Indiana on August 30, 2024.

How will Lake City Bank (LKFN) use the newly acquired building in Warsaw?

The building will be renovated and renamed the Lake City Bank Innovation and Technology Center, housing the bank's Technology Services, Information Security, Application Management, and Project Management teams.

How much has Lake City Bank (LKFN) invested in Warsaw facilities since 2010?

Lake City Bank has invested approximately $30 million in Warsaw facilities and Kosciusko County bank offices since 2010.

How many employees does Lake City Bank (LKFN) have in Downtown Warsaw?

Lake City Bank employs 279 employees in the Downtown Warsaw Campus, making it the largest employer in Downtown Warsaw.

Lakeland Financial Corp

NASDAQ:LKFN

LKFN Rankings

LKFN Latest News

LKFN Stock Data

1.72B
25.51M
3.29%
85.1%
8.57%
Banks - Regional
State Commercial Banks
Link
United States of America
WARSAW