Lake City Bank Parent Announces 4% Increase in Quarterly Dividend

Core Points - Lakeland Financial Corporation announced a quarterly cash dividend of $0.50 per share for Q1 2025, marking a 4$0.48 per share [1] - The company has achieved a compounded annual growth rate of 11% over the last five years, contributing significantly to total returns for shareholders [2] - Lake City Bank, a subsidiary of Lakeland Financial, has a total asset size of $6.7 billion and operates 54 branch offices, focusing on community banking and digital solutions [2] Financial Performance - The approved dividend will be payable on February 5, 2025, to shareholders of record as of January 25, 2025 [1] - The increase in the dividend reflects the company's strong capital position, which supports organic loan growth and shareholder returns [2] Company Overview - Lake City Bank was founded in 1872 and serves communities in Central and Northern Indiana [2] - The bank emphasizes building long-term customer relationships while providing technology-driven solutions for both retail and commercial clients [2]