WARSAW, Ind.,(CRWENEWSWIRE) Nov 9,2009– Lakeland Financial Corporation (Nasdaq:LKFN), parent company of Lake City Bank, announced today that it has begun its marketing efforts in connection with the underwritten public offering of newly issued common stock, to be offered pursuant to a registration statement filed with the Securities and Exchange Commission.

The Company expects to sell 3.5 million shares of common stock in the underwritten public offering. The price of the common stock will be determined by agreement of the Company and the underwriters at the time of the offering. Stifel, Nicolaus & Company, Incorporated is serving as sole-book running manager and Keefe Bruyette & Woods, Inc. and Howe Barnes Hoefer & Arnett, Inc. are serving as co-managers for the offering. The Company intends to grant the underwriters an option to purchase up to an additional 525,000 shares of common stock to cover over-allotments, if any. The common stock will be issued pursuant to a prospectus filed as part of the Company’s registration statement under the Securities Act of 1933.

The Company intends to use the net proceeds of the offering for general corporate purposes, including the contribution of a portion of the proceeds to Lake City Bank as additional capital.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The offering will be made only by means of a prospectus which is a part of such registration statement. When available, a copy of the preliminary prospectus may be obtained from Stifel Nicolaus at One South Street, 15th Floor, Baltimore, Maryland 21202 (Attn: Prospectus Department) or by telephone at 443-224-1988.

Lakeland Financial Corporation is a $2.5 billion bank holding company headquartered in Warsaw, Indiana. Lake City Bank serves Northern Indiana with 43 branches located in the following Indiana counties: Kosciusko, Elkhart, Allen, St. Joseph, DeKalb, Fulton, Huntington, LaGrange, Marshall, Noble, Pulaski and Whitley. The Company also has a loan production office in Indianapolis, Indiana. Additional information regarding the Company can be accessed on its home page at www.lakecitybank.com.

This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. Additional information concerning the Company and its business, including factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission.

CONTACT: David M. Findlay, Executive Vice President- Administration
and Chief Financial Officer
(574) 267-9197
david.findlay@lakecitybank.com

Source: Lake City Bank

CRWENewswire tracks and announces stocks daily and is pleased to offer its Stock Alerts. Investors can receive FREE Stock Alerts by visiting http://www.crwenewswire.com/signup

About CRWENewswire.com

CRWENewswire.com is an independent electronic informative online financial news publication company dedicated in providing company associates, business and financial professionals with economic and investment information, as well as stock highlights. CRWENewswire.com is a division of Crown Equity Holdings, Inc.

CRWENewswire.com is not a registered investment advisor or broker-dealer. CRWENewswire.com and Crown Equity Holdings, Inc., (CRWE) affiliates, officers, directors, contractors and employees, including may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com, and/or Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur.

Disclaimer: Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. (read more) Rule 17B requires disclosure of payment for investor relations