8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549  

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 9, 2023  

LAKELAND FINANCIAL CORPORATION

(Exact name of Registrant as specified in its charter) 

Indiana	0-11487	35-1559596
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

 

202 East Center Street,
Warsaw	,	Indiana	46580
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (574) 267-6144

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	LKFN	NASDAQ

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (s230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (s240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 10, 2023, Lakeland Financial Corporation (the “Company”) announced that Kristin L. Pruitt has been promoted to President of the Company and Lake City Bank, its wholly-owned subsidiary (the “Bank”). Ms. Pruitt was also appointed to the Boards of Directors of the Company and the Bank. The appointments are effective on May 9, 2023. Due to her executive office position, Ms. Pruitt will not be deemed to be an independent director and she will serve on the Bank’s Corporate Risk Committee. Ms. Pruitt, age 51, has served in various capacities at the Company and the Bank since 2008 and she has served as Chief Administrative Officer and Executive Vice President of the Company and the Bank since 2019. There are no other arrangements or understandings between Ms. Pruitt and any other person pursuant to which Ms. Pruitt was selected as a director.

David M. Findlay will continue to serve as the Chief Executive Officer of the Company and the Bank.

Item 7.01. Regulation FD Disclosure

On May 10, 2023, the Company issued a news release announcing the appointment of Ms. Pruitt as President of the Company and the Bank. A copy of the news release is filed as Exhibit 99.1 hereto and incorporated by reference herein.

The information contained in Item 7.01, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except to the extent required by applicable law or regulation.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits

99.1 Press Release issued by Lakeland Financial Corporation and Lake City Bank on May 10, 2023

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LAKELAND FINANCIAL CORPORATION

Dated:  May 10, 2023	By:	/s/ Lisa M. O’Neill
		Lisa M. O’Neill
		Executive Vice President
		and Chief Financial Officer

EX-99.1

NEWS FROM LAKE CITY BANK

FOR IMMEDIATE RELEASE

Contact

Mary Horan

Director of Marketing and Public Relations

574 371-9280 office

574 377-9150 mobile

mary.horan@lakecitybank.com

Lake City Bank and Lakeland Financial Corporation Announce Promotion of Kristin L. Pruitt to President

Warsaw, Indiana (May 10, 2023) – Lakeland Financial Corporation (Nasdaq Global Select/LKFN), and Lake City Bank today announced that Kristin L. Pruitt has been promoted to President of both organizations and will join their respective boards of directors. She joined the company in 2008 as Senior Vice President and General Counsel, was promoted to Executive Vice President in 2014, and to Chief Administrative Officer in in 2019.

David M. Findlay, Chief Executive Officer of both organizations, commented, “Kristin has proven to be an impactful leader during her career at Lake City Bank. From day one, she’s brought a practical and thoughtful approach to leadership that exemplifies the Lake City Bank culture.”

Pruitt added, “The Lake City Bank team has a performance track record that I am proud to have played a role in over the last 15 years. We have great talent throughout the organization that positions us for success as we continue our growth in the Indiana markets we serve. I look forward to working with David and the strong team of community bankers we have at Lake City Bank as we move the bank forward.”

Findlay continued, “Kristin has been a wonderful partner for me and every member of our management team and we’re excited to continue to work together to lead this great organization. This long-planned move is a further affirmation of the strength and depth of our team.”

Pruitt will continue her present oversight of risk management, compliance, corporate governance, legal, people development, operations, marketing, and corporate and institutional services. In addition, she will become more directly involved with the company’s investor and public relations initiatives as well as client and community engagement activities. Pruitt has a bachelor’s degree cum laude from the University of Notre Dame and a juris doctor degree magna cum laude from Case Western Reserve University School of Law. Before joining Lake City Bank, she served as Assistant General Counsel and Chief Compliance Officer for 1st Source Bank in South Bend, Indiana. Previously she practiced law with Skadden, Arps, Slate, Meagher & Flom in Washington, DC and with Baker and Daniels in South Bend, Indiana.

Lake City Bank, a $6.4 billion bank headquartered in Warsaw, Indiana, is the sixth largest bank headquartered in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 53 branch offices in northern and central Indiana, delivering technology-driven solutions in a client-centric

way to individuals and businesses. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit 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,” “continue,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. The company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain and, accordingly, the reader is cautioned not to place undue reliance on any forward-looking statements made by the company. 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. Numerous factors could cause the company’s actual results to differ from those reflected in forward-looking statements, including the effects of the COVID-19 pandemic, including its effects on our customers, local economic conditions, our operations and vendors, and the responses of federal, state and local governmental authorities, as well as those identified in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and quarterly reports on Form 10-Q.

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XML

Cover	May 09, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	May 09, 2023
Entity Registrant Name	LAKELAND FINANCIAL CORP
Entity Incorporation, State Country Name	IN
Entity File Number	0-11487
Entity Tax Identification Number	35-1559596
Entity Address, Address Line One	202 East Center Street,
Entity Address, City or Town	Warsaw
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46580
City Area Code	574
Local Phone Number	267-6144
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	LKFN
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000721994
Amendment Flag	false