Record Profit Continues For Lake City Bank

Lake City Bank opened its fourth Indianapolis location in February 2016.

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Warsaw-based Lakeland Financial Corp. (Nasdaq: LKFN) is reporting record full-year net income of $57.3 million in 2017, up from $52.1 million the previous year. Chief Executive Officer David Findlay says the results mark the eighth consecutive year of record income performance. 

The parent of Lake City Bank says its continued profitability in 2017 was largely due double-digit loan and deposit growth. 

"We are particularly proud of our performance over a long period of time as we have reported record net income in 28 of the last 29 years," Findlay said in a news release. "Our performance-based culture is the result of Lake City Bank’s unwavering focus on serving customers in our Indiana footprint each and every day with financial services solutions that help our Indiana communities prosper."

The bank is also reporting fourth quarter net income of $11.6 million, down from $13.5 million during the same quarter in 2016. You can connect to the full earnings report by clicking here.