WARSAW, Ind., Aug. 17, 2015 (GLOBE NEWSWIRE) -- Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq:LKFN), announced today that the bank ranked eighth in its peer group in Bank Director Magazine's 2015 Bank Performance Scorecard.
The Bank Performance Scorecard is Bank Director Magazine's ranking of the "300 largest U.S. banks listed on the NASDAQ OMX and the New York Stock Exchange based on their 2014 financial data." The scorecard uses five key metrics that measure profitability, capital strength and credit quality, adding that banks that rank high on the scorecard typically do well in all of the metrics rather than dominate in just one or two. According to the magazine, banks that rank strongly on the scorecard tend to be well balanced across the full spectrum of profitability, capitalization and asset quality—but with a slight bias toward profitability.
Lake City Bank ranked eighth among the 130 banks ranked in the $1 billion to $5 billion category. Sandler O'Neill + Partners, an investment banking firm, constructed the rankings using data provided by SNL Financial LLC.
"We’re particularly pleased to be recognized in this scorecard as it is based upon the key performance metrics for our industry,” said David M. Findlay, President and Chief Executive Officer. “It all starts with the fact that the Lake City Bank team is focused on taking care of our customers. All of our success starts with the great teamwork we have here and we are all very proud of this accomplishment.”
Lake City Bank, a $3.6 billion bank headquartered in Warsaw, Indiana, is the fourth largest bank in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 46 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 lakecitybank.com.