LKFN: Victory Capital Reports 3.59% Ownership in Lakeland Financial

Rhea-AI Filing Summary

What this filing says

Victory Capital Management, an investment adviser, reports it beneficially owns 916,558 shares of Lakeland Financial Corp, equal to 3.59% of the outstanding common stock. The filing shows Victory Capital has sole voting power for 911,858 shares and sole dispositive power for 916,558 shares.

Why it matters

This is a public disclosure of a meaningful passive stake by a professional money manager. The filing also states the shares are held in the ordinary course of business and are not held to change or influence control of the company. For most shareholders, a 3.59% passive stake signals professional interest but does not indicate an activist or control-seeking position.

Insights

Financial Analyst

TL;DR: Victory Capital holds 916,558 shares (3.59%), a material but non-controlling passive stake with limited immediate market impact.

The filing explicitly reports a 3.59% position in Lakeland Financial and shows near-complete sole voting and dispositive authority over the reported shares. As an investment adviser (type "IA"), Victory Capital discloses this stake under Schedule 13G/A and certifies the holdings are in the ordinary course of business and not intended to influence control. From a trading or valuation perspective, this disclosure informs the market of institutional ownership but does not, by itself, signal changes to corporate strategy or governance.

Corporate Governance Expert

TL;DR: Reported ownership is passive and below activist thresholds; no change to board control or governance is implied.

The document states Victory Capital has sole voting power for 911,858 shares and sole dispositive power for 916,558 shares, and it attests the shares are not held to influence control. Because the stake is under 5%, standard governance triggers for heightened disclosure or activist intent are not met. Investors should view this as confirmation of institutional ownership rather than a governance event requiring immediate action.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Lakeland Financial Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

511656100

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 511656100

1

Names of Reporting Persons

Victory Capital Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 911,858.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 916,558.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

916,558.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.59 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Lakeland Financial Corp
(b)	Address of issuer's principal executive offices: 202 East Center Street PO Box 1387 Warsaw, In 46580
Item 2.
(a)	Name of person filing: Victory Capital Management, Inc.
(b)	Address or principal business office or, if none, residence: 15935 La Cantera Pkwy San Antonio, TX 78256
(c)	Citizenship: New York
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 511656100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 916,558
(b)	Percent of class: 3.59 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 911858
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 916,558
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Victory Capital Management, Inc.

Signature:	Barry Garrett
Name/Title:	Chief Compliance Officer
Date:	08/08/2025

FAQ

How many Lakeland Financial (LKFN) shares does Victory Capital own?

Victory Capital Management reports ownership of 916,558 shares of Lakeland Financial common stock.

What percentage of LKFN does Victory Capital own?

The filing states the position represents 3.59% of Lakeland Financial's outstanding common stock.

Does Victory Capital have voting control over the shares of LKFN?

The filing shows Victory Capital has sole voting power for 911,858 shares and sole dispositive power for 916,558 shares.

Is Victory Capital seeking to influence control of Lakeland Financial (LKFN)?

According to the certification in the filing, the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What date does the report reference for the ownership amount?

The filing lists the Date of Event Which Requires Filing as 06/30/2025.