Lakeland Financial (LKFN)
Runs Lake City Bank's commercial, retail, wealth, and treasury services across Indiana.
Something off on this page? Send us feedback.
Operates Lake City Bank, a deposit-funded community bank serving Northern and Central Indiana with commercial and consumer banking, treasury management, private banking, wealth advisory, trust, brokerage, and planning services. Growth has come from organic branch expansion rather than bank acquisitions.
Owns Lake City Bank, the operating franchise that provides commercial and consumer banking, deposits, lending, treasury management, private banking, wealth advisory, trust, brokerage, and planning services. The holding company conducts little business apart from owning the bank and receiving bank dividends.
Built from a Warsaw, Indiana bank founded in 1872, the franchise remains concentrated in Indiana, with offices across Northern Indiana and the Indianapolis market. Expansion has been de novo and organic rather than acquisition-led.
Execution depends on local relationships, branch and digital delivery, disciplined credit underwriting, deposit retention, loan spreads, and banking regulation. Management reports one operating segment because most revenue comes from banking and regional markets share similar products, customers, and economics.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jan 27, 2026 | Stephens | Target | Target: — | Target: $66 |
| Jan 7, 2026 | Hovde Group | Downgrade | ||
| Oct 28, 2025 | Raymond James | Reiterate | Rating: —Target: — | Target: $68 |
| May 6, 2025 | Hovde Group | Upgrade | Target: $66 | Target: $72 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $67.8M · Total debt $70.0M · Total assets $7.24B · Shareholders' equity $773.3M
- Revenue
- $107.7M
- Operating income
- $34.9M
- Net income
- $28.4M
HistoryDividendAnnual yield
| Institutions | 88.33% | 21.96M shares | |
|---|---|---|---|
| 256 holders · as of Jun 30, 2026 | |||
| Insiders | 3.11% | 772.2K shares | |
| 23 holders · as of Aug 6, 2026 | |||
| Other | 8.56% | 2.13M shares | |
| remainder | |||
24.86M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.64% | 3.64M | as of Jun 30, 2026 |
Neuberger Berman Group LLCInstitution | 8.75% | 2.18M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.75% | 1.43M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.29% | 1.07M | as of Jun 30, 2026 |
Charles Schwab Investment Management IncInstitution | 3.78% | 940,862 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 5, 2026 | Donald Robinson-Gay | officer: Senior Vice President | −500 | $63.00 |
| Jul 30, 2026 | Kyra E. Clark | officer: Senior Vice President | −250 | $63.22 |
| May 29, 2026 | Bradley J. Toothaker | director | −5,900 | $60.62 |
| May 6, 2026 | Steven D. Ross | director | −1,281 | $62.50 |
| May 5, 2026 | Steven D. Ross | director | −19 | $62.50 |
- Old National Bancorp
Large Indiana-rooted bank with retail, commercial, wealth overlap
- First Merchants
Indiana community bank peer across lending, deposits, treasury, and wealth
- 1st Source
Northern Indiana peer with community banking and specialty finance
- Horizon Bancorp
Indiana-Michigan commercial bank with branch and trust overlap
- Fifth Third
Super-regional bank pressure in commercial, retail, payments, and wealth
- German American Bancorp
Southern Indiana bank peer with retail, commercial, and wealth overlap
- First Financial
Terre Haute bank peer with commercial, consumer, lease, and trust services
- First Financial Bancorp
Cincinnati regional bank overlapping in Indiana, deposits, loans, and wealth
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lakeland Financial | $59.25 | −0.03% | $1.49B | 13.7 | 13.4 | 3.5 | +6.8% |
| Old National Bancorp | $25.03 | +0.02% | $9.66B | 11.1 | 9.2 | 2.4 | +12.3% |
| First Merchants | $40.65 | −0.06% | $2.57B | 13.1 | 9.6 | 2.4 | +23.2% |
| 1st Source | $85.55 | +0.22% | $2.07B | 12.3 | 11.7 | 3.4 | +8.2% |
| Horizon Bancorp | $19.18 | −0.05% | $994.3M | — | 8.9 | 10.4 | +16.1% |
| Fifth Third | $52.88 | +0.15% | $48.32B | 18.2 | 12.2 | 3.2 | +45.2% |
| German American Bancorp | $48.99 | −0.08% | $1.85B | 13.0 | 12.2 | 3.7 | +12.7% |
| First Financial | $75.72 | 0.00% | $903.1M | 10.6 | 9.5 | 2.7 | +14.0% |
| First Financial Bancorp | $31.34 | +0.03% | $3.33B | 11.2 | 9.8 | 2.5 | +16.7% |
| Median | 12.3 | 9.7 | 3.0 | +15.0% |