Lake City Bank’s leadership knew the bank needed to keep growing its footprint to increase profitability. For its first 93 years, the bank operated from one location, but its growth had quickly sped up over the ensuing 30 years.

By 1997, Lake City Bank operated in nearly 20 northern Indiana communities. On July 28, 1997, it entered an agreement with NBD Bank to purchase its branch in Huntington, including all $25 million in deposits. Three days later, it agreed to purchase six branch offices and $78 million in deposits from KeyCorp in north central Indiana. Its thoughtfully planned expansion continued to accelerate.

To keep growing the way it wanted, the bank needed more cash. Offering shares of stock to the general public could increase its base of investors and raise money for future expansion. Those investors could also share in the rewards. It was time for Lake City Bank to go public.

On August 15, 1997, Lakeland Financial Corporation offered shares of common stock for sale to the general public. The offering was available under the ticker symbol LKFN on the NASDAQ stock exchange. Now the bank would prove it could maintain its community focus as a publicly traded company.