Lake City Bank in Warsaw, Indiana (IN)

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Lake City Bank
GeneralFDIC Certificate #: 13102
Status: Active
Federal Reserve ID: 874845
Bank Holding Company (Regulatory Top Holder): Lakeland Financial Corporation (RSSDID: 1208906, Location: Warsaw, IN)
Date Established: January 01, 1872
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 46 (Domestic: 45, Foreign: 1, Interstate: No)
OTS Docket #: 8964
FDIC's unique #: 8287
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: April 18, 2006
Last Structure Change Process Date: May 11, 2006
Last Data Update: May 11, 2006
Data Source Date: April 05, 2012
LocationAddress: 202 East Center Street, Warsaw, IN 46581
County: Kosciusko
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Indianapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Warsaw, IN (#47700)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Primary Regulatory Agency
Change in Supervisory Agency
Institution Becomes a Member of FRS (Federal Reserve System)
Financial SummaryTotal assets: $2,885.4 mil
Equity capital: $298.5 mil
Deposits held in domestic offices: $2,413.2 mil
Return on assets (ROA): 1.17% ($33.8 mil)
Quarterly return on assets: 1.22% ($35.2 mil)
Return on Equity (ROE): 11.35% ($33.8 mil)
Quarterly return on equity: 11.74% ($35.0 mil)
Net income: $32.4 mil
Quarterly Net income: $8.7 mil
Pretax return on assets: 1.74% ($50,206.7 mil)
Quarterly Pretax return on assets: 1.77% ($51,072.4 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)482
Total assets$2,885,445
Cash and due from depository institutions$58,204
Interest-bearing balances$7,444
Federal funds sold & reverse repurchase agreements$45,476
Net loans & leases$2,183,262
Loan loss allowance $53,400
Trading account assets$0
Bank premises and fixed assets$34,736
Other real estate owned$2,075
Goodwill and other intangibles$7,110
All other assets$86,535
Life insurance assets$2,885,445
Total liabilities and capital$2,586,890
Total liabilities$2,413,204
Total deposits$2,056,014
Interest-bearing deposits$2,413,204
Deposits held in domestic offices$59
% insured (estimated)141990.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$15,040
Other borrowed funds $0
Subordinated debt $16,656
All other liabilities $298,555
Total equity capital$298,466
Total bank equity capital$298,466
Perpetual preferred stock$0
Common stock$2,182
Undivided profits $184,477
Noncurrent loans and leases $89
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,953
Income earned, not collected on loans $39,501
Earning assets $0
Long-term assets (5+ years) $9,604
Average Assets, year-to-date $2,704,229
Average Assets, quarterly $665,960
Volatile liabilities $2,772,836
Insider loans $2,854,504
FHLB advances $2,374,752
Loans and leases held for sale $2,875,450
Unused loan commitments $39,959
Tier 1 (core) risk-based capital $7,499
Tier 2 risk-based capital $288,053
Total risk weighted assets $32,460
Total unused commitments $0
Restructured Loans and leases $1,089,173
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $122,254
Total interest expense $28,758
Net interest income $93,496
Provision for loan and lease losses $13,800
Total noninterest income $22,186
Fiduciary activities $3,462
Service charges on deposit accounts $7,950
Trading account gains & fees $0
Additional noninterest income $10,774
Total noninterest expense $53,182
Salaries and employee benefits $31,465
Premises and equipment expense $5,310
Additional noninterest expense $16,407
Pre-tax net operating income $48,700
Securities gains (losses) -$452
Applicable income taxes $15,830
Income before extraordinary items $32,418
Extraordinary gains - net $0
Net income attributable to bank $32,405
Net charge-offs $13
Cash dividends $32,418
Sale, conversion, retirement of capital stock, net $5,407
Net operating income $10,475
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.71%
Cost of funding earning assets 1.11%
Net interest margin 3.60%
Noninterest income to earning assets 0.85%
Noninterest expense to earning assets 2.05%
Net operating income to assets 1.18%
Return on assets (ROA) 1.17%
Pretax return on assets 1.74%
Return on equity (ROE) 11.35%
Retained earnings to average equity (YTD only) 7.68%
Net charge-offs to loans 0.25%
Credit loss provision to net charge-offs 255.22%
Efficiency ratio11.56%
Assets per employee$45,926
Cash dividends to net income (YTD only)5.99%
Condition Ratios (%)
Loss allowance to loans 32.33%
Loss allowance to noncurrent loans 2.39%
Noncurrent assets plus other real estate owned to assets 135.19%
Noncurrent loans to loans 1.44%
Net loans and leases to deposits1.77%
Net loans and leases to core deposits 90.47%
Equity capital to assets 99.73%
Core capital (leverage) ratio 10.34%
Tier 1 risk-based capital ratio 10.02%
Total risk-based capital ratio 12.13%
Average assets$13
Average earning assets$2,772,836
Average equity $285,439
Average loans $2,598,296
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$913,047
Number of Accounts1
Personal trust and agency accounts$453,640
Employee benefit-defined contribution accounts$324,461
Employee benefit-defined benefit accounts$3,822
Other retirement accounts$8,686
Corporate trust and agency accounts$61,364
Investment management agency accounts$22,703
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$32,604
Non-managed Assets$0
Number of Accounts1235
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$61,364
Employee benefit-defined benefit accounts$0
Other retirement accounts$459,407
Corporate trust and agency accounts$252,138
Other fiduciary accounts$90,631
Fiduciary accounts held in foreign offices$11,703
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1 Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
50229114Lcb Investments LimitedCedar House, 41 Cedar Avenue, Hamilton Hm 12, 0November 01, 1999Limited Service Administrative
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45 Indiana Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08287Lake City Bank202 East Center Street, Warsaw, IN 46581January 01, 1872Full Service Brick and Mortar
1229084Winona Lake Branch99 Chestnut Avenue, Winona Lake, IN 46590December 06, 1965Full Service Brick and Mortar
2229085Silver Lake Branch102 East Main Street, Silver Lake, IN 46982May 02, 1966Full Service Brick and Mortar
3229086Drive-In Branch220 East Center Street, Warsaw, IN 46580July 31, 1970Limited Service Facility
4229087West Lake Branch1221 West Lake Street, Warsaw, IN 46580October 04, 1972Full Service Brick and Mortar
5229088North Webster Branch644 North Main Street, North Webster, IN 46555December 16, 1974Full Service Brick and Mortar
6229089Syracuse Branch502 South Huntington Street, Syracuse, IN 46567April 19, 1982Full Service Brick and Mortar
7229090Mentone Branch202 East Main Street, Mentone, IN 46539January 03, 1984Full Service Brick and Mortar
8229091Milford Branch311 West Syracuse Street, Milford, IN 46542January 04, 1984Full Service Brick and Mortar
11229092Pierceton Branch108 South First Street, Pierceton, IN 46562August 06, 1984Full Service Brick and Mortar
13229094Warsaw East Branch3601 Commerce Drive, Warsaw, IN 46580April 02, 1990Full Service Brick and Mortar
14229095Akron Branch102 East Rochester Street, Akron, IN 46910October 03, 1990Full Service Brick and Mortar
1543860Goshen Downtown Branch102 North Main Street, Goshen, IN 46526April 28, 1958Full Service Brick and Mortar
16275407Nappanee Branch202 West Market Street, Nappanee, IN 46550January 01, 1882Full Service Brick and Mortar
18234540Argos Branch100 North Michigan Street, Argos, IN 46501June 30, 1934Full Service Brick and Mortar
19190198Bremen Branch1600 State Road 331, Bremen, IN 46506June 19, 1978Full Service Brick and Mortar
20229097Goshen Branch2513 South Main Street, Goshen, IN 46526September 18, 1992Full Service Brick and Mortar
21229098Elkhart Branch864 East Beardsley Avenue, Elkhart, IN 46516September 08, 1993Full Service Brick and Mortar
22238664Ligonier South BranchU.S. Highway 33 South, Ligonier, IN 46767June 06, 1975Full Service Brick and Mortar
24238666Cromwell Branch111 North Jefferson Street, Cromwell, IN 46732November 20, 1993Full Service Brick and Mortar
25229099Elkhart East Branch22050 State Road 120, Elkhart, IN 46515October 24, 1994Full Service Brick and Mortar
26229100Shipshewana Branch895 North Van Buren Street, Shipshewana, IN 46565November 29, 1994Full Service Brick and Mortar
27229101Middlebury Branch712 Wayne Avenue, Middlebury, IN 46540March 30, 1995Full Service Brick and Mortar
2814994Lagrange Branch901 South Detroit Street, Lagrange, IN 46761July 01, 1974Full Service Brick and Mortar
29229102Concord Goshen Branch4202 Elkhart Road, Goshen, IN 46526September 11, 1995Full Service Brick and Mortar
30229103Rochester Branch507 East Ninth Street, Rochester, IN 46975November 24, 1995Full Service Brick and Mortar
31229104Kendallville Branch631 Professional Way, Kendallville, IN 46755May 23, 1996Full Service Brick and Mortar
32229105Elkhart Hubbard Hill Branch58404 State Road 19, Elkhart, IN 46516September 18, 1996Full Service Brick and Mortar
33229106Elkhart Northwest Branch1206 North Nappanee, Elkhart, IN 46516April 18, 1997Full Service Brick and Mortar
34229107Granger Branch12830 State Road 23, Granger, IN 46530May 30, 1997Full Service Brick and Mortar
35229108Direct Banking, Warsaw, IN 46581January 01, 1997Full Service Cyber
37229110Mishawaka Branch5015 Main Street, Mishawaka, IN 46544November 24, 1997Full Service Brick and Mortar
38224374Huntington Branch1501 North Jefferson, Huntington, IN 46750December 23, 1986Full Service Brick and Mortar
39166Ligonier Downtown Branch222 South Cavin Street, Ligonier, IN 46767December 01, 1928Full Service Brick and Mortar
41231510Columbia City BranchSr 9 And U.S. 30, Columbia City, IN 46725Febuary 17, 1986Full Service Brick and Mortar
43229185Medaryville Branch205 East Main Street, Medaryville, IN 47957October 23, 1957Full Service Brick and Mortar
47229111Plymouth Branch826 East Jefferson Street, Plymouth, IN 46563April 15, 1998Full Service Brick and Mortar
48229112Fort Wayne North Branch302 East Dupont Road, Fort Wayne, IN 46825June 02, 1999Full Service Brick and Mortar
51357626Grace Village Branch1324 Wooster Road, Winona Lake, IN 46590September 01, 1999Full Service Brick and Mortar
52358298Fort Wayne Southwest Branch10429 Illinois Road, Fort Wayne, IN 46804October 06, 2000Full Service Brick and Mortar
53361125South Bend Northwest Branch21113 Cleveland Road, South Bend, IN 46628April 30, 2001Full Service Brick and Mortar
54362309Fort Wayne Northeast Branch10411 Maysville Road, Fort Wayne, IN 46835September 17, 2001Full Service Brick and Mortar
55365926Auburn Branch1220 East 7th Street, Auburn, IN 46706November 04, 2002Full Service Brick and Mortar
56422532Warsaw North Branch420 Chevy Way, Warsaw, IN 46581September 02, 2003Full Service Brick and Mortar
57424633Fort Wayne Jefferson Branch6851 W Jefferson Blvd, Fort Wayne, IN 46804December 01, 2003Full Service Brick and Mortar
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