Lakeland Financial Corporation.
LKFN.US | Other monetary intermediation
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank, providing commercial and retail banking services in Northern and Central Indiana. The bank offers various deposit products, including checking, savings, and money market accounts, as well as certificates of depos...Show More
Better Health for All
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The company, a bank, offers Health Savings Accounts (HSAs) to help individuals save for qualified medical expenses.
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It also provides financial wellness programs, including workshops on HSAs, to its employees and as a service to other companies' employees, which can indirectly support mental well-being by reducing financial stress.
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The bank offers its employees comprehensive medical, dental, and vision plans, free health screenings with a $50 incentive, and an Employee Assistance Program with five free counseling sessions per year.
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The company serves commercial customers in various industries, including healthcare.
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During the COVID-19 pandemic, bank regulatory agencies offered favorable CRA consideration for banks providing services responsive to low- and moderate-income individuals and small businesses affected by the pandemic.
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The bank is subject to federal and state laws governing the protection of non-public confidential customer information.
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The company invests in funds that promote new financial technologies, but not specifically health-related innovation.
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The company's core banking products and services do not have direct health impacts, and there is no evidence of revenue from products with negative health outcomes. The company does not conduct clinical trials, hold healthcare-related patents, or produce food/nutritional products.
Fair Money & Economic Opportunity
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No evidence available to assess Lakeland Financial Corporation on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
20
The company's CEO to median employee pay ratio in 2024 was 36:1.
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This is based on a CEO compensation of $2,048,666 and a median employee pay of $57,060 for the same year.
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Fair Trade & Ethical Sourcing
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No evidence available to assess Lakeland Financial Corporation on Fair Trade & Ethical Sourcing.
Honest & Fair Business
-20
Lakeland Financial Corporation has a whistleblower policy in place, as mentioned under Corporate Governance.
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The company's board demonstrates strong independence, with 91% of its directors being independent.
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An Insider Trading Policy exists, which includes anti-hedging and pledging provisions, and a clawback policy is in place for performance-based compensation in the event of a financial restatement.
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However, while an anti-corruption policy is implied by the existence of an Insider Trading Policy and Code of Ethics, the evidence does not specify the frequency or effectiveness metrics of its training, nor its scope beyond FCPA compliance.
Kind to Animals
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Lakeland Financial Corporation (LKFN.US) operates as a bank holding company, providing financial services.
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The provided articles, including a Form 10-K and investor reports, focus on financial performance and regulatory compliance. No evidence was found regarding the company's animal welfare practices, cruelty-free certifications, animal testing, animal-derived ingredients, or any other metrics related to the 'Kind to Animals' value. Given the nature of the company's business, all KPIs are assessed as N/A, as its operations do not involve activities typically associated with animal welfare concerns addressed by this rubric.
No War, No Weapons
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The provided articles for Lakeland Financial Corporation (LKFN.US) do not contain any specific, concrete data points or facts relevant to the 'No War, No Weapons' ethical value. Article
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pertains to Lakeland Electric, a utility, and not Lakeland Financial Corporation, a bank holding company.
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Articles
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,
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, and
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explicitly state that they lack quantitative data or information on arms contracts, defense spending, peacebuilding, or conflict-related activities for Lakeland Financial Corporation or its subsidiary, Lake City Bank.
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Consequently, there is no evidence to score any of the KPIs in the rubric.
Planet-Friendly Business
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No specific data or relevant information regarding Lakeland Financial Corporation's (LKFN.US) environmental performance or planet-friendly business practices was provided in the articles.
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Therefore, no KPIs could be assessed against the rubric.
Respect for Cultures & Communities
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Lakeland Financial Corporation (Lake City Bank) has established 20 formal partnerships with community groups, including 15 community foundations
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, Habitat for Humanity of Kosciusko County
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, Junior Achievement of Northern Indiana
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, Indianapolis Neighborhood Housing Partnership
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, Federal Home Loan Bank of Indianapolis
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, and Martindale-Brightwood Community Development Corporation
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. In 2024, the company provided $647,702 to local activities
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and reported total assets of $8.36 billion
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, which equates to approximately 0.0077% of assets reinvested locally. The company's employee policy manual outlines grievance mechanisms for employees regarding accounting or auditing matters
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, but no specific community-focused mechanisms are detailed. The company has not reported any cultural appropriation incidents.
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The company's operations are not described as impacting cultural contexts or indigenous communities, making several KPIs not applicable. There is no specific data on cultural preservation investment, language inclusivity, or cultural training completion.
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Safe & Smart Tech
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Lake City Bank Digital validates device, username, and password, and requires identity confirmation via a one-time secure access code (SAC) sent by phone call or text message for new device logins.
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The system times out after 60 minutes of being logged in, or 10 minutes with no measurable activity.
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The bank's Information Security Analyst manages the security vulnerability management program, including scanning for vulnerabilities.
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The bank maintains an enterprise-wide privacy and security governance program to comply with regulations for data privacy and protection, and strives to meet or exceed industry information security best practices.
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The bank collects, retains, and uses customer information only when it is useful and allowed by law to conduct business or provide services.
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Zero Waste & Sustainable Products
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Lake City Bank has implemented over 10 waste reduction initiatives. These include encouraging nearly 55% of customers to opt for eStatements, saving an average of 2.27 million sheets of paper annually since 2022.
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Mobile deposits increased over 2,000% from 2012 to 2024, and the Autobooks system processed nearly 9,000 digital payments in 2024.
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Online loan approvals are expected to save 15–20 sheets of paper per approval, and electronic documents for Cash Line Overdraft Protection save up to 11 pages per account.
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The bank also provides internal meeting materials online and recycles approximately 160,000 pounds of paper yearly.
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Lake City Bank recycles computer equipment and collects light bulbs, cans, cardboard, batteries, appliances, and scrap metal from its Warsaw locations.
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There is no information regarding hazardous waste management beyond basic compliance. The company has no waste disposal violations in the past three years. Customers are encouraged to opt out of paper statements.
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