WARSAW, Ind., June 9, 2010 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq:LKFN), parent company of Lake City Bank, announced today that it has redeemed all of the 56,004 shares of preferred stock issued to Treasury in February 2009 under the Capital Purchase Program (the "CPP") of the Emergency Economic Stabilization Act of 2008. Lakeland Financial paid $56.0 million to redeem the shares. Lakeland Financial expects to give notice to Treasury of its intent to enter into negotiations for the repurchase of the 10-year warrant issued in conjunction with the preferred stock, which entitles Treasury to purchase shares of Lakeland Financial common stock.
Lakeland Financial Repays TARP
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.