Lake City Bank Earns Honor Roll Spot
July 28, 2016 at 4:25 p.m.
By Staff Report-
Lake City is one of 47 banking institutions with a 10-year record that met the KBW criteria for inclusion on its 2012 honor roll. In addition, Lake City is one of 33 returning members that were included on the 2011 honor roll.
Keefe, Bruyette & Woods, a wholly owned subsidiary of Stifel Financial Corp., is a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector and is widely recognized as a leading authority in the banking industry, according to information provided.
KBW reported that they “found that the KBW Bank Honor Roll members have better-than-industry performance ratios and growth rates when compared to the publicly traded bank universe with total assets over $500 million, which includes nearly 400 companies listed on the NYSE and NASDAQ exchanges.”
KBW further observed that “for the five-year period between 2007 and 2012, the KBW Bank Honor Roll members significantly outperformed the banking industry and the market.”
According to KBW, to be eligible for the Bank Honor Roll, banks with more than $500 million in total assets must have:
• No annual loss reported in net income per share before extraordinary items over the past 10 years;
• 2012 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
• Consecutive increases in net income per share before extraordinary items since 2009.
Michael L. Kubacki, bank chairman and chief executive officer, commented, “Lake City Bank’s inclusion on this elite list of banks that have performed well over the past decade is extremely rewarding to our entire organization. We've worked hard to remain consistently dedicated to our client-driven strategy while at the same time focusing on shareholder performance and we are pleased that our results merit inclusion on the KBW Bank Honor Roll.”
David M. Findlay, president and chief financial officer, said, “Our consistent long-term financial performance is what has earned Lake City Bank a spot on this list of high-performing banks. Yet, that financial performance is only made possible by the commitment and dedication of the entire Lake City Bank Team to taking care of our customers, each and every day.”
The full news release announcing the 2012 Bank Honor Roll can be accessed at www.businesswire.com/news/home/20130415005374/en/KBW-Announces-2012-Bank-Honor-Roll-Award
Lakeland Financial Corp. is a $2.9 billion bank holding company headquartered in Warsaw. 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.[[In-content Ad]]
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Lake City is one of 47 banking institutions with a 10-year record that met the KBW criteria for inclusion on its 2012 honor roll. In addition, Lake City is one of 33 returning members that were included on the 2011 honor roll.
Keefe, Bruyette & Woods, a wholly owned subsidiary of Stifel Financial Corp., is a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector and is widely recognized as a leading authority in the banking industry, according to information provided.
KBW reported that they “found that the KBW Bank Honor Roll members have better-than-industry performance ratios and growth rates when compared to the publicly traded bank universe with total assets over $500 million, which includes nearly 400 companies listed on the NYSE and NASDAQ exchanges.”
KBW further observed that “for the five-year period between 2007 and 2012, the KBW Bank Honor Roll members significantly outperformed the banking industry and the market.”
According to KBW, to be eligible for the Bank Honor Roll, banks with more than $500 million in total assets must have:
• No annual loss reported in net income per share before extraordinary items over the past 10 years;
• 2012 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
• Consecutive increases in net income per share before extraordinary items since 2009.
Michael L. Kubacki, bank chairman and chief executive officer, commented, “Lake City Bank’s inclusion on this elite list of banks that have performed well over the past decade is extremely rewarding to our entire organization. We've worked hard to remain consistently dedicated to our client-driven strategy while at the same time focusing on shareholder performance and we are pleased that our results merit inclusion on the KBW Bank Honor Roll.”
David M. Findlay, president and chief financial officer, said, “Our consistent long-term financial performance is what has earned Lake City Bank a spot on this list of high-performing banks. Yet, that financial performance is only made possible by the commitment and dedication of the entire Lake City Bank Team to taking care of our customers, each and every day.”
The full news release announcing the 2012 Bank Honor Roll can be accessed at www.businesswire.com/news/home/20130415005374/en/KBW-Announces-2012-Bank-Honor-Roll-Award
Lakeland Financial Corp. is a $2.9 billion bank holding company headquartered in Warsaw. 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.[[In-content Ad]]
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