Lake City Bank Sees Record Growth In Income
News Release
WARSAW – Lake City Bank is reporting a record first-quarter net income of $23.6 million, compared to $23 million during the same period last year.
Chief Executive Officer David Findlay says average balances in commercial and retail demand deposit accounts are more than double the levels experienced in March 2020.
“For the second consecutive quarter, organic loan growth has been strong as loan originations have outpaced commercial loan pay downs,” said Findlay.
Findlay says healthy growth and retention of deposits continue to contribute to the bank’s liquidity.
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