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): January 11, 2022  

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 January 14, 2022, Lakeland Financial Corporation issued a press release announcing that Faraz Abbasi has been appointed to the Boards of Directors of Lakeland Financial Corporation and Lake City Bank effective January 11, 2022. Mr. Abbasi will serve an initial term as director of Lakeland Financial Corporation that will expire at the annual meeting of the stockholders to be held in 2022, at which time it is expected that he will be nominated for a one-year term. He will serve on Lake City Bank’s Audit and Compensation Committees. There are no other arrangements or understandings between Mr. Abbasi and any other person pursuant to which Mr. Abbasi was selected as a director. The news release is attached as Exhibit 99.1.

Item 7.01. Regulation FD Disclosure

On January 14, 2022, the Company and the Bank issued a press release announcing Mr. Abbasi's appointment. A copy of the press release is furnished herewithin as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits

99.1 Press Release issued by Lakeland Financial Corporation and Lake City Bank on January 14, 2022

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:  January 14, 2022	By:	/s/ Lisa M. O’Neill
		Lisa M. O’Neill
		Executive Vice President
		and Chief Financial Officer

EX-99.1

Exhibit 99.1

NEWS FROM LAKELAND FINANCIAL CORPORATION

FOR IMMEDIATE RELEASE

Contact

Mary Horan

Vice President, Director of Marketing and Public Relations

(574) 371-9280 office

(574) 377-9150 mobile

mary.horan@lakecitybank.com

Faraz Abbasi Appointed to Lakeland Financial

Corporation and Lake City Bank Boards

Warsaw, Indiana (January 14, 2022) – Lakeland Financial Corporation (Nasdaq Global Select/LKFN) and Lake City Bank announced today that Faraz Abbasi has been appointed to its respective Boards of Directors effective January 11, 2022.

Abbasi is a Managing Partner at Indianapolis-based Centerfield Capital Partners. Centerfield is a private equity investment firm that works closely with equity sponsors, independent sponsors, business owners, and management teams who seek subordinated debt and equity financing to build companies and create value. In addition to managing the general activities of the firm, he is responsible for investor relations, overseeing due diligence, and portfolio management. He is a member of the Partnership's Investment Committee. Abbasi joined Centerfield in 2001.

“Faraz brings valuable experience to our boardroom,” said David M. Findlay, President and Chief Executive Officer. “Not only has he been instrumental in Centerfield Capital Partners’ growth and success over his 20-year tenure, his emphasis on developing long-term relationships with limited partners, private equity sponsors and management teams meshes perfectly with Lake City Bank’s philosophy as a community bank.”

Abbasi has a master’s in business administration in finance from the Kelley School of Business at Indiana University and a bachelor’s degree in Chemical Engineering from the University of Texas. He is an adjunct professor of finance at the Kelley School of Business at Indiana University. Abbasi has served as a director of more than a dozen private companies in the health care, manufacturing, information technology and business services industries.

“The bank’s reputation and growth over the years have been impressive,” Abbasi said. “I am excited to work with the Lake City Bank team to continue the bank’s track record of strong performance for shareholders and focused community banking services for its clients and communities.”

Abbasi is a board member of the Young President's Organization's Indiana chapter, Board of Governors member of Riley Children’s Foundation, and Dean’s Council member of IU Kelley School of Business Indianapolis. Abbasi was also the past board chair of Fairbanks Hospital, board of governors and past chairman of the Small Business Investors Alliance and past president of the Venture Club of Indiana. He has been recognized as 40 under 40 and Who’s Who in Finance by the Indiana Business Journal. Abbasi was also awarded the Best and Brightest by the Junior Achievement of Indiana. Additionally, Abbasi holds a patent in semiconductor processing and has published finance and semiconductor industry related papers.

Lake City Bank, a $6.6 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 51 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 www.lakecitybank.com.

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XML

Cover	Jan. 11, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jan. 11, 2022
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