WARSAW, Ind., Sept. 10, 2013 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq:LKFN) and Lake City Bank today announced today that the Wealth Advisory Group has surpassed $1 billion in total trust assets during the third quarter of 2013.
Michael L. Kubacki, Chairman and Chief Executive Officer stated, "We are extremely pleased to have reached this milestone of total trust assets as it is an indication of the confidence that our clients have placed in us to effectively manage their investments. Our trust and investment managers are highly experienced and dedicated to providing services in a very personalized way, with great care and attention to detail."
Lake City Bank's Wealth Advisory Group serves both institutional and individual clients. Total trust assets have grown 23.1% since the third quarter of 2010.
Kubacki observed, "We believe that this growth is a reflection of our client-driven relationship management strategy. The success of our Wealth Advisory Group is a natural extension of the overall performance of Lake City Bank and is a result of working with our clients to grow their investment portfolios.
Lakeland Financial Corporation is a $3.0 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. A 46th office in Fishers, Indiana is expected to open in late 2013.
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.email@example.comSource:Lake City Bank