Lake City Bank is acquiring and renovating a property in Whitestown, Indiana, to open a new full-service branch by 2026.
Quiver AI Summary
Lake City Bank has announced the acquisition of a property at 6388 Mills Drive in Whitestown, Indiana, where it plans to renovate the structure into a full-service branch set to open in 2026. This marks the bank's expansion into Boone County, adding to its presence in the Indianapolis Region, where it has seen significant growth since 2011. The new branch will feature a lobby, drive-up banking, and an ATM, strategically located near Interstate 65 with access to residential, retail, and industrial areas. Renovations are scheduled for later this year, and the bank looks forward to engaging with the Whitestown community ahead of its grand opening next year. Lake City Bank, founded in 1872, currently operates 54 branches and emphasizes building long-term customer relationships while offering modern banking solutions.
Potential Positives
- Lake City Bank is expanding its footprint into Boone County, Indiana, which is positioned as an emerging economic engine, indicating growth potential in that area.
- The acquisition and renovation of a new full-service branch will enhance customer accessibility and convenience, featuring modern banking facilities tailored for both personal and business financial needs.
- This new branch will mark the bank's 10th office in the Indianapolis Region, showcasing the bank’s sustained growth and commitment to the area since its initial entry in 2011.
- The investment in a new location reflects Lake City Bank's strategy of prioritizing in-market customer relationships while providing technology-forward banking solutions, aligning with modern banking trends.
Potential Negatives
- Expansion into Boone County may pose risks if the market does not support the anticipated growth, potentially leading to financial losses or underperformance of the new branch.
- The need for renovations suggests additional capital expenditure, which could strain financial resources or affect short-term profitability.
- Establishing a new branch during uncertain economic conditions may dilute the bank's focus on existing operations and customer relationships, impacting overall service quality.
FAQ
Where is Lake City Bank opening its new branch?
Lake City Bank is opening its new branch at 6388 Mills Drive in Whitestown, Indiana.
When is the new branch expected to open?
The new branch is expected to open in 2026 after renovations are completed.
What services will the new Lake City Bank branch offer?
The branch will provide full-service banking, including a lobby, drive-up banking, and an ATM.
Why is Lake City Bank expanding into Boone County?
Boone County is viewed as an emerging economic engine in Central Indiana, making it a strategic location for expansion.
How many branches does Lake City Bank have in the Indianapolis Region?
This new branch will be Lake City Bank's 10th location in the Indianapolis Region.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LKFN Insider Trading Activity
$LKFN insiders have traded $LKFN stock on the open market 9 times in the past 6 months. Of those trades, 4 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $LKFN stock by insiders over the last 6 months:
- M SCOTT WELCH has made 3 purchases buying 15,000 shares for an estimated $920,374 and 0 sales.
- MELINDA JO TRUEX purchased 8,309 shares for an estimated $499,453
- DAVID M FINDLAY (CEO) sold 6,439 shares for an estimated $431,809
- STEPHANIE R LENISKI (Executive Vice President) has made 0 purchases and 2 sales selling 2,500 shares for an estimated $152,410.
- LISA M O'NEILL (EVP & CFO) sold 2,500 shares for an estimated $148,333
- DONALD ROBINSON-GAY (Senior Vice President) sold 550 shares for an estimated $36,435
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LKFN Hedge Fund Activity
We have seen 114 institutional investors add shares of $LKFN stock to their portfolio, and 103 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC removed 296,692 shares (-55.1%) from their portfolio in Q1 2025, for an estimated $17,635,372
- VICTORY CAPITAL MANAGEMENT INC removed 253,726 shares (-18.8%) from their portfolio in Q1 2025, for an estimated $15,081,473
- FIRST TRUST ADVISORS LP removed 231,088 shares (-75.2%) from their portfolio in Q1 2025, for an estimated $13,735,870
- ASSENAGON ASSET MANAGEMENT S.A. removed 153,574 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $9,128,438
- MILLENNIUM MANAGEMENT LLC added 152,738 shares (+327.9%) to their portfolio in Q1 2025, for an estimated $9,078,746
- GOLDMAN SACHS GROUP INC removed 110,611 shares (-28.0%) from their portfolio in Q1 2025, for an estimated $6,574,717
- SEGALL BRYANT & HAMILL, LLC removed 109,757 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $6,523,956
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$LKFN Analyst Ratings
Wall Street analysts have issued reports on $LKFN in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Hovde Group issued a "Outperform" rating on 05/06/2025
To track analyst ratings and price targets for $LKFN, check out Quiver Quantitative's $LKFN forecast page.
Full Release
WARSAW, Ind., July 17, 2025 (GLOBE NEWSWIRE) -- Lake City Bank is pleased to announce the acquisition of a property located at 6388 Mills Drive in Whitestown, Indiana. The bank will renovate the existing structure at this location into a full-service branch that is expected to open in 2026, expanding the bank’s footprint into Boone County.
"Lake City Bank has experienced exceptional growth in the Indianapolis Region since opening our first branch in the market in 2011. Boone County represents an emerging economic engine in Central Indiana and we are excited to open our first branch in the county. It will be our 10 th office in the region and represents a natural next step in the Indianapolis Region,” said David M. Findlay, Chairman and Chief Executive Officer.
Renovations to the site will begin later this year to convert the building, which has previously housed several restaurants, into a modern banking facility designed to serve both personal and business banking needs. The new branch will feature a full-service lobby, drive-up banking and an ATM.
“This location is ideally situated close to Interstate 65 with nearby residential neighborhoods as well as retail and industrial businesses, providing convenient access for our customers and strategically positioning our bankers to engage the Whitestown community,” said Stephanie R. Leniski, Executive Vice President and Chief Retail Banking Officer. “We look forward to seeing the branch take shape in the coming months and celebrating our grand opening with community members next year.”
Lake City Bank, a $6.9 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit www.lakecitybank.com.
Contact
Luke Weick
Vice President
Marketing Manager
(574) 267-9198 x47279 office
(260) 431-7061 mobile
[email protected]
