WARSAW, Ind., Feb. 3, 2011 (GLOBE NEWSWIRE) -- Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq:LKFN), announced today that it will build a regional headquarters building in Indianapolis. The Company announced that construction will begin in mid-March at the northwest corner of 96 th and Meridian Streets and is expected to be completed in October. The building will encompass 11,000 square feet, and will be home to the Company's existing Indianapolis commercial lending staff and provide direct access to every commercial and retail financial services product that the Bank offers. In addition, the building has been designed to specifications that the Company believes will qualify for LEED Silver certification and the Company will seek certification upon completion of the building.
Michael L. Kubacki, Chairman and Chief Executive Officer, commented, "This office represents a significant commitment to the Indianapolis market and is reflective of the growth of our business in the market, especially on the commercial lending front. Since establishing our loan production office in Indianapolis in 2006, we believe that the business community has embraced Lake City Bank's community-oriented, relationship-based approach."
The office will eventually be home to more than 25 Indianapolis team members, including senior management of the Bank's Indianapolis Commercial Banking Department. The office will also be home to the market's Wealth Advisory, Honors Private Banking and Lake City Bank Investment and Brokerage teams. In addition, the commercial banking staff will provide direct access for clients to specialists in Commercial Treasury Management Services, Corporate Bond Administration, Retirement Services and Merchant Card Services.Kubacki added, "We enter Indiana markets with a long term view, and expect this to be the first of many offices in the community. Our goal is to establish a base of operations upon which future market expansion can occur."