| Business Summary | | Lakeland
Financial
Corp.
is
a
bank
holding
company
that
owns
all
of
the
outstanding
stock
of
Lake
City
Bank,
Warsaw,
Indiana
(the
Bank),
a
full-service
commercial
bank,
and
Lakeland
Capital
Trust,
a
statutory
business
trust.
The
Bank
has
a
wholly
owned
subsidiary,
LCB
Investments
Limited,
a
company
that
manages
a
portion
of
the
Bank's
investment
portfolio.
The
Company,
through
the
Bank,
is
engaged
in
all
phases
of
commercial
banking,
including
checking
accounts,
savings
accounts,
time
deposits,
the
sale
of
securities
under
agreements
to
repurchase,
brokerage
services,
commercial
and
agricultural
lending,
direct
and
indirect
consumer
lending,
real
estate
mortgage
lending,
safe
deposit
box
services,
trust
and
investment
services.
The
Federal
Deposit
Insurance
Corporation
insures
the
Bank's
deposits
to
the
full
extent
permissible
by
law.
The
Bank's
main
banking
office
is
in
Warsaw,
Indiana.
As
of
December
31,
2000,
the
Bank
had
43
offices
in
15
counties
throughout
north-central
Indiana. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Lakeland
Financial
Corp.
is
a
bank
holding
company
for
Lake
City
Bank,
a
state
chartered
bank
with
44
offices
located
throughout
north
central
Indiana.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
4%
to
$40.1
million.
Net
interest
income
after
loan
loss
prov.
rose
2%
to
$17
million.
Net
income
fell
4%
to
$4.5
million.
Results
relect
an
increase
in
interest-earning
assets,
offset
by
higher
interest
expense
on
deposits
and
increased
personnel-related
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| R. Douglas Grant, 67 Chairman | -- | Michael Kubacki, 49 Pres,
CEO | $324K | David Findlay, 39 CFO,
Exec. VP | -- | Robert Condon, 59 Exec.
VP | 122K | Kevin Deardorff, 39 Exec.
VP, Retail Banking | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|