Lake City Bank Named to KBW Bank Honor Roll of High Performing Banks for the 12th Consecutive Year
24 Avril 2023 - 10:00PM
Lake City Bank, the single bank subsidiary of Lakeland Financial
Corporation (Nasdaq Global Select/LKFN), announced today that the
bank’s long term performance earned it inclusion in the 2023 KBW
Bank Honor Roll published by Keefe Bruyette & Woods, Inc.
(KBW), the 12th consecutive year that the bank has earned a place
in the listing.
Lake City Bank is one of 14 banking institutions, just 4% of all
banks screened, that met KBW’s criteria for inclusion in the 2023
Bank Honor Roll; 11 banks are returning members to the list. KBW
Bank Honor Roll members 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 350 companies listed on the NYSE and Nasdaq exchanges.
“Lake City Bank’s appearance in the KBW Bank Honor Roll for the
twelfth consecutive year is particularly gratifying in light of
recent challenges in the banking industry. The criteria for
inclusion in the KBW Bank Honor Roll is a diverse set of
performance measures that truly define strong operating performance
over a long period of time and we are very proud of our long term
spot on the Honor Roll,” said David M. Findlay, President and Chief
Executive Officer. “Our performance continues to reflect our
commitment to long term shareholder value creation and affirms the
entire Lake City Bank team’s disciplined and execution-driven
strategies.”
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 yearly over the past decade.
Beginning with the 2021 Honor Roll, KBW modified this criterion to
account for the impact of the adoption of current expected credit
loss (CECL) accounting on 2020 earnings. Banks that met the annual
earnings-per-share growth requirements for all years save 2020 are
eligible for inclusion if in 2020 they reported an annual profit
and annual pre-tax pre-provision net income per share growth.
Access the full news release announcing the 2022 Bank Honor Roll
here.
KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S.,
and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette
& Woods Europe, operating in Europe) is a Stifel company. Over
the years, KBW has established itself as a leading independent
authority in the banking, insurance, brokerage, asset management,
mortgage banking and specialty finance sectors. Founded in 1962,
the firm maintains industry‐leading positions in the areas of
research, corporate finance, mergers and acquisitions as well as
sales and trading in equities securities of financial services
companies.
Lake City Bank, a $6.4 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
53 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 lakecitybank.com.
ContactMary HoranDirector of Marketing and
Public Relations574 371-9280 office574 377-9150
mobilemary.horan@lakecitybank.com
Lakeland Financial (NASDAQ:LKFN)
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