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Lakeland Financial (LKFN) Company Profile

Updated Apr 18, 2019
Lakeland Financial has the following business profile:
Company's Full Name:Lakeland Financial Corporation
Short Name:Lakeland Financial
Trading Ticker Symbol:LKFN
Primary Exchange:NASDAQ
Headquarter City/Country:Indiana, IN
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks, Bank
Dividend Payments:Dividend History

Market and Trading Information for Lakeland Financial

The following details were available for trading and market data about the stock of Lakeland Financial as of writing:
Current Share Price:$47.16
Previous Year's Closing Price:$40.16
Percentage Price Change (YTD):17.43%
Market Cap:$1.21 billion
52-week Price Range:$37.79 - $51.25
Dividend Per Share:$0
EPS (TTM):3.13
Price-Earnings (Trailing):15.07
Price-Earnings (Forward):13.47

Company Profile and Business Description for Lakeland Financial

Lakeland Financial Corporation (Lakeland Financial), incorporated on February 8, 1983, is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. The Company offers commercial and consumer banking services, as well as trust and wealth management, brokerage, and treasury management commercial services. The Company serves a range of industries, including, among others, commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and healthcare. The Bank's activities cover all phases of commercial banking, including deposit products, commercial and consumer lending, retail and merchant credit card services, corporate treasury management services, and wealth advisory, trust and brokerage services. The Company provides financial services through the Bank, a full-service commercial bank with approximately 50 branch offices in 15 counties in Northern and Central Indiana.

The Company's commercial products include commercial loans and technology-driven solutions to meet commercial customers' treasury management needs, such as Internet business banking and online treasury management services. Retail banking clients are provided with a range of traditional retail banking services, including lending, deposit and investment services. Retail lending programs are focused on mortgage loans, home equity lines of credit and traditional retail installment loans. The Company provides credit card services to retail and commercial customers through its retail card program and merchant processing activity. The Company provides wealth advisory and trust clients with traditional personal and corporate trust services. The Company also provides retail brokerage services, including an array of financial and investment products, such as annuities and life insurance. Other financial instruments include deposit accounts in other financial institutions.

Lending Activities

The Bank's loan portfolio consists of commercial and industrial loans, commercial real estate and multi-family residential loans, agri-business and agricultural loans, other commercial loans, and other consumer loans, among others. As of December 31, 2016, its residential construction and land development loans class included construction loans totaling $11.4 million. The Bank sells conforming mortgage loans, which it originates on the secondary market. These loans generally represent mortgage loans that are made to clients with long-term or substantial relationships with the Bank on terms consistent with secondary market requirements. As of December 31, 2016, its total commercial loans totaled $3,062.52 million. As of December 31, 2016, its total loans totaled $3.471 billion.

Investment Activities

The Company's investment portfolio consists of treasury securities, government agencies, and municipal tax exempt bonds. As of December 31, 2016, its purchases in the securities portfolio consisted of primarily mortgage-backed securities and municipal bonds. As of December 31, 2016, the Company's investment in mortgage-backed securities represented approximately 70% of total securities consisting of collateralized mortgage obligations (CMOs), commercial mortgage-backed securities (CMBSs) and mortgage pools issued by the Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corp (Freddie Mac).

Sources of Funds

The Company's primary sources of funds consist of deposits, cash from operations, investment maturities and sales and deposits. Additional liquidity is provided by brokered deposits, certificate of deposit account registry service (CDARS) deposits, repurchase agreements, as well as its ability to borrow from the Federal Reserve and the Federal Home Loan Bank (the FHLB). The primary source of funds for the Company is dividends from the Bank. The Bank's total deposits were $3,477.81 million.

202 E Center St

Peer / Competitor Companies of Major Banks Sector

Along with Lakeland Financial Corporation, the following other peer (competitor) companies also exist within the same Major Banks - Finance sector whose company profile and dividend history is as follows:

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▶ Allegiance Bancshares (ABTX): Allegiance Bancshares, Inc., incorporated on April 30, 2008, is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily ....See Detailed Company Profile  and Dividend History.

▶ American National Bankshares (AMNB): American National Bankshares Inc. operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segm....See Detailed Company Profile  and Dividend History.

▶ American River Bankshares (AMRB): American River Bankshares operates as the holding company for American River Bank that provides commercial banking products and services to small and middle-market businesses, and individuals in Calif....See Detailed Company Profile  and Dividend History.

▶ Ameris Bancorp (ABCB): Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company....See Detailed Company Profile  and Dividend History.

▶ AmeriServ Financial (ASRV): AmeriServ Financial Inc. operates as the bank holding company for AmeriServ Financial Bank that provides various consumer, mortgage, and commercial financial products. It offers retail banking service....See Detailed Company Profile  and Dividend History.

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▶ Ames National (ATLO): Ames National Corporation, incorporated on January 15, 1975, is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks ....See Detailed Company Profile  and Dividend History.

▶ ANZ Bank ADR (ANZBY): Australia and New Zealand Banking Group Limited provides various banking and financial products and services. The company's Australia division offers retail products and services to consumers through the branch....See Detailed Company Profile  and Dividend History.

▶ Arrow Financial (AROW): Arrow Financial Corporation (Arrow), incorporated on March 21, 1983, is a bank holding company. The Companys banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and ....See Detailed Company Profile  and Dividend History.

▶ Associated Banc-Corp (ASB): Associated Banc-Corp, incorporated on October 20, 1964, is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a ....See Detailed Company Profile  and Dividend History.

▶ Atlantic Capital Bancshares (ACBI): Atlantic Capital Bancshares, Inc. operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, m....See Detailed Company Profile  and Dividend History.

▶ Auburn National Bancorporation (AUBN): Auburn National Bancorporation, Inc., incorporated on April 12, 1990, is a bank holding company. The Company operates through its subsidiary AuburnBank (the Bank), which is a commercial bank located in ....See Detailed Company Profile  and Dividend History.

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▶ BancFirst (BANF): BancFirst Corporation, incorporated on July 12, 1984, is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. The Company ....See Detailed Company Profile  and Dividend History.

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▶ Bancorp of New Jersey (BKJ): Bancorp of New Jersey, Inc. operates as a bank holding company of Bank of New Jersey that provides banking services to individuals, businesses, non-profit organizations, and governmental units. The co....See Detailed Company Profile  and Dividend History.

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