WARSAW – Lake City Bank, the subsidiary of Lakeland Financial Corp., has announced that the bank has been included in the Bank Director Magazine “Nifty 50” List of high performing banks for the second consecutive year.
The list is compiled by Bank Director and Sandler O’Neill + Partners to rank “the top 50 best users of capital based on profitability and capital strength.” All U.S. banks and thrifts that trade publicly on the NYSE, NASDAQ and NYSE Amex stock exchanges are measured on two financial metrics: core return on tangible common equity and the ratio of tangible common
equity to tangible assets.
Michael L. Kubacki, chairman and chief executive officer, said, “We are delighted to be included on this list of top performing banks in the country and are particularly honored to be one of The Nifty Fifty as it reflects both a robust capital position and strong earnings performance. The team at Lake City Bank has been focused on these two key metrics as part of our strategic plan and we are very pleased with this recognition.”
Lakeland Financial Corporation is a $3.1 billion bank holding company based in Warsaw with 45 branches in Kosciusko, Elkhart, Allen, St. Joseph, DeKalb, Fulton, Hamilton, Huntington, LaGrange, Marshall, Noble, Pulaski and Whitley counties.