WARSAW, Ind., April 20, 2016 (GLOBE NEWSWIRE) -- 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 fifth consecutive year that the bank has been included in the KBW Bank Honor Roll.
Lake City Bank is one of 18 banking institutions with a ten-year record that met KBW’s criteria for inclusion in the 2015 Bank Honor Roll; the bank is also one of 17 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;
- 2015 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 be included in the KBW Bank Honor Roll for the fifth consecutive year,” said David M. Findlay, President and Chief Executive Officer. “We are particularly proud of this recognition as the KBW Bank Honor Roll recognizes performance over a 10-year period and includes high performing banks that produce consistent and high quality income.”
“We believe the past decade has been one of the most challenging in the history of U.S. banking. All said, the 2015 KBW Bank Honor Roll members have certainly earned their honor,” KBW said when announcing 2015 honor roll members.
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.
The full news release announcing the 2015 Bank Honor Roll can be accessed at:
http://www.kbw.com/content/the-firm-PDFs/press-releases/KBW_Bank_Honor_Roll_2016.pdf
Lake City Bank, a $3.8 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 48 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.