Lake City Bank Ranked First in 2021 Bank Director Magazine's Bank Performance Scorecard

Rhea-AI Summary

Lake City Bank, a subsidiary of Lakeland Financial Corporation (Nasdaq: LKFN), achieved the top ranking in its peer group according to Bank Director Magazine's 2021 Bank Performance Scorecard. This scorecard evaluates the 300 largest exchange-traded banks in the U.S. based on profitability, asset quality, and capital adequacy. Lake City Bank ranked first in the $5 billion to $50 billion category and sixth in the overall Top 25 Banks. The CEO, David M. Findlay, attributed this success to the bank's commitment to shareholders, employees, and clients.

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• Ranked first in its peer group in 'Bank Director' Magazine's 2021 Bank Performance Scorecard.
• Secured first place in the $5 billion to $50 billion category.
• Ranked sixth overall in the Top 25 Banks listing.

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WARSAW, Ind., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq: LKFN), announced today that the bank ranked first in its peer group in Bank Director Magazine's 2021 Bank Performance Scorecard.

The Bank Performance Scorecard is Bank Director Magazine's annual ranking of the 300 largest exchange-traded banks in the United States based on the previous year's performance. It uses five metrics that speak to profitability, asset quality and capital adequacy to score a bank's performance. The scorecard is compiled and calculated by investment bank Piper Sandler & Co., using data from S&P Global Market Intelligence. In addition to ranking first in the $5 billion to $50 billion category, Lake City Bank ranked sixth in the scorecard’s Top 25 Banks listing.

"This ranking among our peers, especially for performance in such a difficult year, is an achievement that the entire Lake City Bank team is proud of,” said David M. Findlay, President and Chief Executive Officer. “Our #1 ranking, which is based on financial criteria important to our shareholders, reflects our unwavering commitment to taking care of shareholders while at the same time creating an environment for long term success for our employees, clients and communities.”

Lake City Bank, a $6.2 billion bank headquartered in Warsaw, Indiana, is the fifth 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). For more information visit www.lakecitybank.com.  

Contact
Mary Horan
Director of Marketing and Public Relations
574 371-9280 office
574 377-9150 mobile
mary.horan@lakecitybank.com 

FAQ

What is the significance of Lake City Bank's ranking in the 2021 Bank Performance Scorecard?

Lake City Bank ranked first in its peer group, highlighting its strong performance relative to competitors.

Which category did Lake City Bank rank first in the 2021 Scorecard?

Lake City Bank was ranked first in the $5 billion to $50 billion category.

What is the overall ranking of Lake City Bank in the 2021 Scorecard?

Lake City Bank ranked sixth in the overall Top 25 Banks listing.

Who is the CEO of Lake City Bank and what did he say about the ranking?

David M. Findlay is the CEO, who expressed pride in the bank's ranking and emphasized commitment to shareholders.

What metrics are used in the Bank Performance Scorecard?

The scorecard evaluates banks based on profitability, asset quality, and capital adequacy.