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Lake City Bank Announces $12 Million Investment in Innovation and Technology Center

1. Lake City Bank plans a $12 million investment in its Innovation Center. 2. The bank invested $23 million in Downtown Warsaw since 2010. 3. Construction will start in early September; completion expected by summer 2026. 4. The Center will enhance collaboration among technology teams. 5. Lake City Bank aims to modernize and repurpose older buildings.

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Why Bullish?

The investment in technology could drive future growth and efficiency, reflecting positively on LKFN's performance. Past initiatives in similar expansions have typically increased investor confidence.

How important is it?

The initiative highlights LKFN's commitment to growth, potentially attracting investors interested in technology-focused banking.

Why Long Term?

While the immediate construction impact is minimal, the long-term benefits from enhanced operations and services could significantly benefit Lake City Bank's market position.

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WARSAW, Ind., Sept. 08, 2025 (GLOBE NEWSWIRE) -- Lake City Bank announced its plans to invest $12 million in the company’s Innovation and Technology Center as part of its Downtown Warsaw Headquarters Campus expansion. The project represents the bank’s continued investment in Warsaw and Kosciusko County, where it has invested $23 million in Downtown Warsaw and $31 million total countywide to date since 2010. Construction on the 35,600 square foot office building will begin in early September, with completion of the project expected by summer 2026. Originally constructed in 1968 and purchased by Lake City Bank in 2024, the facility will undergo a full interior and exterior transformation to modernize the space. “Warsaw has been our home since the bank was founded in 1872 and this project continues our 153-year history of continuous investment in our hometown,” said David M. Findlay, Chairman and Chief Executive Officer. “Today, 283 Lake City Bank team members work in Downtown Warsaw, representing the largest employer downtown. The Innovation and Technology Center will provide our team with space to continue our growth as a progressive, technology-driven community bank.” The renovated Innovation and Technology Center will support Lake City Bank’s growing teams and serve as a central hub of innovation and collaboration across departments within the bank. The renovated space will have capacity for approximately 110 employees. The building currently hosts 40 team members as part of the bank’s Downtown Warsaw Campus. “The Innovation and Technology Center will be home to our Technology Services, Information Security, Application Management and Project Management teams. Collaboration among those teams is vital to our continued success in delivering robust technology-driven products and services for our customers. This renovation provides a space specifically designed to foster collaboration and positions us for future growth,” said Findlay. The Innovation and Technology Center will bring a modern design that fits with the bank’s forward-thinking brand identity and complements the architectural character of Downtown Warsaw. The exterior renovations include the removal and structural repair of the existing brick façade, with the original brick preserved and repurposed for the project. “Lake City Bank relishes opportunities to repurpose older buildings and bring them back to life with major capital investments, as we have done with all six our existing buildings on our Downtown Warsaw Campus and now with the Innovation and Technology Center,” said Kristin L. Pruitt, President. “We’re eager to get to work on the project and look forward to celebrating its completion with the community next summer as we begin a new chapter in Warsaw with this renovation.” Lake City Bank, a $7.0 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 55 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit www.lakecitybank.com. Architectural Rendering of Renovated Lake City Bank Innovation and Technology Center: ContactLuke WeickVice PresidentMarketing Manager(574) 267-9198 x47279 office(260) 431-7061 mobileluke.weick@lakecitybank.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b24fe341-6863-467f-b406-0d2d19cfef31

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