Lake City Bank Acquires Property in Whitestown, Announces Plan to Convert Building to New Office

Rhea-AI Summary

Lake City Bank (NASDAQ:LKFN) has announced the acquisition of a property at 6388 Mills Drive in Whitestown, Indiana, which will be converted into a full-service branch expected to open in 2026. This expansion marks the bank's first presence in Boone County and will be its 10th office in the Indianapolis Region since entering the market in 2011.

The property, previously housing restaurants, will undergo renovations to become a modern banking facility featuring a full-service lobby, drive-up banking, and an ATM. The strategic location near Interstate 65 positions the bank to serve both residential and business customers in the growing Whitestown community. Lake City Bank, a $6.9 billion institution headquartered in Warsaw, Indiana, currently operates 54 branch offices across Central and Northern Indiana.

Positive

• Strategic expansion into Boone County, an emerging economic engine in Central Indiana
• Location near Interstate 65 provides convenient access to residential and business customers
• Demonstrates continued growth in Indianapolis Region since 2011, marking the 10th office in the area
• Adds to the bank's existing network of 54 branch offices

Negative

• Renovation costs and time investment required to convert restaurant space into banking facility
• Delayed revenue generation with branch opening not expected until 2026

News Market Reaction – LKFN

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+1.22% News Effect

On the day this news was published, LKFN gained 1.22%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WARSAW, Ind., July 17, 2025 (GLOBE NEWSWIRE) -- Lake City Bank is pleased to announce the acquisition of a property located at 6388 Mills Drive in Whitestown, Indiana. The bank will renovate the existing structure at this location into a full-service branch that is expected to open in 2026, expanding the bank’s footprint into Boone County.

"Lake City Bank has experienced exceptional growth in the Indianapolis Region since opening our first branch in the market in 2011. Boone County represents an emerging economic engine in Central Indiana and we are excited to open our first branch in the county. It will be our 10^th office in the region and represents a natural next step in the Indianapolis Region,” said David M. Findlay, Chairman and Chief Executive Officer.

Renovations to the site will begin later this year to convert the building, which has previously housed several restaurants, into a modern banking facility designed to serve both personal and business banking needs. The new branch will feature a full-service lobby, drive-up banking and an ATM.

“This location is ideally situated close to Interstate 65 with nearby residential neighborhoods as well as retail and industrial businesses, providing convenient access for our customers and strategically positioning our bankers to engage the Whitestown community,” said Stephanie R. Leniski, Executive Vice President and Chief Retail Banking Officer. “We look forward to seeing the branch take shape in the coming months and celebrating our grand opening with community members next year.”

Lake City Bank, a $6.9 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 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.

Contact
Luke Weick
Vice President
Marketing Manager
(574) 267-9198 x47279 office
(260) 431-7061 mobile
luke.weick@lakecitybank.com

FAQ

What is Lake City Bank's (LKFN) expansion plan in Whitestown, Indiana?

Lake City Bank is converting a property at 6388 Mills Drive in Whitestown into a full-service branch, featuring a lobby, drive-up banking, and ATM, expected to open in 2026. This will be their first branch in Boone County and 10th office in the Indianapolis Region.

How many branches does Lake City Bank (LKFN) currently operate?

Lake City Bank currently operates 54 branch offices across Central and Northern Indiana, with the Whitestown location set to become their 55th branch.

What is Lake City Bank's (LKFN) total asset size in 2025?

Lake City Bank has $6.9 billion in total assets and is headquartered in Warsaw, Indiana.

When did Lake City Bank (LKFN) first enter the Indianapolis market?

Lake City Bank entered the Indianapolis market in 2011 and has since expanded to 9 offices in the region, with the Whitestown branch set to become their 10th location.

Where will Lake City Bank's new Whitestown branch be located?

The new branch will be located at 6388 Mills Drive in Whitestown, Indiana, near Interstate 65, positioned to serve nearby residential neighborhoods and retail/industrial businesses.