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Lake City Bank Announces New Indianapolis Market Office

WARSAW, Ind., May 31, 2013 (GLOBE NEWSWIRE) -- Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq:LKFN), announced today that it will construct its second Indianapolis market office in Fishers. The 3,700 square foot office will be located at the northeast corner of State Road 37 and 131st Street in Fishers Marketplace and is expected to open in November 2013. The total investment in the facility is expected to exceed $2.8 million.

Michael L. Kubacki, Chairman and Chief Executive Officer, commented, "Our Regional Headquarter office in Indianapolis has been a tremendous success since opening in late 2011 and has grown faster than any office in Lake City Bank's 140 year history. The Indianapolis market has clearly been receptive to our client-driven approach and we're excited to open our second office in the market."

David M. Findlay, President and Chief Financial Officer, stated, "We're an Indiana bank serving Indiana clients and this commitment to the Indianapolis market is a reflection of our success in the market. As we have executed in our more mature markets, we will continue to build additional offices in the market as our growth continues."

Lake City Bank was assisted in the site selection process by Indianapolis-based Hokanson Companies. Hokanson will also oversee construction of the office and The Hagerman Group will act as the project's general contractor.

Lakeland Financial Corporation is a $2.9 billion bank holding company headquartered in Warsaw, Indiana. Lake City Bank serves Indiana with 45 branches located in the following Indiana counties: Kosciusko, Elkhart, Allen, St. Joseph, DeKalb, Fulton, Hamilton, Huntington, LaGrange, Marshall, Noble, Pulaski and Whitley.

Lakeland Financial Corporation may be accessed on the home page of its subsidiary, Lake City Bank, at www.lakecitybank.com. The Company's common stock is traded on the Nasdaq Global Select Market under "LKFN".

This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could," "should" or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. Additional information concerning the Company and its business, including factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on form 10-K.

CONTACT: David M. Findlay President and Chief Financial Officer (574) 267-9197 david.findlay@lakecitybank.comSource:Lake City Bank