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WARSAW, Ind., April 21, 2017 -- Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq:LKFN), announced today that the bank was included in the KBW Bank Honor Roll published by Keefe Bruyette & Woods (KBW). This represents the sixth consecutive year that the bank has earned a place in the listing.
Lake City Bank is one of 15 banking institutions with a ten-year record that met KBW’s criteria for inclusion in the 2016 Bank Honor Roll; the bank is also one of 15 members returning to the list.
To qualify for the honor roll, banks with more than $500 million in total assets must have:
- No annual loss reported in net income per share before extraordinary items over the past 10 years,
- 2016 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years, and
- Consecutive increases in net income per share before extraordinary items since 2009.
“We’re pleased to have earned a place in the KBW Bank Honor Roll for the sixth consecutive year,” said David M. Findlay, President and Chief Executive Officer. “This recognition is particularly significant to us as it marks our place among top performing peers in the bank universe over a 10-year period.”
In announcing the 2016 honor roll members, KBW acknowledged the challenging banking environment, and the honor roll members’ strong performance even into 2017, stating that members continue to outperform their SMID-cap banking peers.
“The past decade has been one of the most unpredictable and challenging times in the history of U.S. banking. All said, the 2016 KBW Bank Honor Roll members have certainly earned their honor,” KBW said when announcing 2016 honor roll members.
The full news release announcing the 2016 Bank Honor Roll can be accessed at:
http://kbw.com/content/the-firm-PDFs/press-releases/KBW-Honor-Roll-2016.pdf
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 $4.3 billion bank headquartered in Warsaw, Indiana, is the fourth largest bank headquartered in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 49 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: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 [email protected]
