Lakeland Financial Corporation

Lake City Bank announced a significant expansion in the Fort Wayne market, leasing approximately 15,025 square feet at Electric Works to serve as the market headquarters for its Commercial Banking and Credit Administration teams. The bank will also open a 2,500 square foot full-service branch at the campus to serve the growing community there. The new branch and office space are expected to open in the first half of 2027. Chairman and CEO David M. Findlay said the commitment reflects the bank's success in the Fort Wayne market over the last 27 years, while President Kristin L. Pruitt said the branch reflects a focus on delivering financial services to an underserved community near the campus. Lake City Bank is a $7.2 billion bank headquartered in Warsaw, Indiana, and is the single bank subsidiary of Lakeland Financial Corporation.

Lakeland Financial Corporation reported record second quarter net income of $28.4 million for the three months ended June 30, 2026, a 5% increase from $27.0 million a year earlier. Diluted earnings per share rose 9% to a record $1.13, while total revenue expanded 7% to $70.9 million. Average loans grew 6% to $5.53 billion, and the net interest margin improved 7 basis points to 3.49%. The company also declared a quarterly cash dividend of $0.52 per share, up 4% from the prior year.

Shares of several regional banks rose sharply in afternoon trading after softer-than-expected inflation data reduced expectations for further Federal Reserve interest rate hikes. Lake City Bank gained 3.5%, First Hawaiian Bank rose 3.3%, First Financial Bankshares added 3.1%, and both First Financial Bancorp and Customers Bancorp climbed 3.7%. The moves followed a June CPI reading of 3.5% and lower-than-expected producer prices, which bolstered investor confidence that inflationary pressures may be easing. A more stable rate environment is generally favorable for regional banks, potentially alleviating funding pressures and supporting lending activity, while strong second-quarter earnings from major financial institutions offered a bullish read-through for smaller lenders.