Lakeland Financial Corp. Announces Closing of $59.5 Million Public Offering Of Common Stock

Posted on: Thu, 19 Nov 2009 14:07:00 EST

Symbols: LKFN

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Nov 19, 2009 (FinancialWire via COMTEX) --
LKFN | Quote | Chart | News | PowerRating -- (Comment on this article at http://www.financialwire.net/2009/11/19/lakeland-financial-corp-announces-closing-of-59-5-million-public-offering-of-common-stock/)

November 19, 2009 (FinancialWire) -- Lakeland Financial Corp. (NASDAQ: LKFN), parent company of Lake City Bank, has completed its previously announced underwritten public stock offering by issuing 3,500,000 shares of the company's common stock at a public offering price of $17.00 per share, for aggregate gross proceeds of $59.5 million.

The net proceeds to the company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $55.9 million. Stifel, Nicolaus & company, Inc. acted as the book-running manager of the public offering, and Keefe, Bruyette & Woods, Inc. and Howe Barnes Hoefer & Arnett, Inc. acted as co-managers.

Lakeland Financial Corp. 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.

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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

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For full details on Lakeland Financial Corp (LKFN) LKFN. Lakeland Financial Corp (LKFN) has Short Term PowerRatings at TradingMarkets. Details on Lakeland Financial Corp (LKFN) Short Term PowerRatings is available at This Link.

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