November 19, 2009 (FinancialWire) — Lakeland Financial Corp. (NASDAQ: LKFN), parent company of Lake City Bank, has completed its previously announced underwritten public stock offering by issuing 3,500,000 shares of the company’s common stock at a public offering price of $17.00 per share, for aggregate gross proceeds of $59.5 million.

The net proceeds to the company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $55.9 million. Stifel, Nicolaus & company, Inc. acted as the book-running manager of the public offering, and Keefe, Bruyette & Woods, Inc. and Howe Barnes Hoefer & Arnett, Inc. acted as co-managers.

Lakeland Financial Corp. is a $2.5 billion bank holding company headquartered in Warsaw, Indiana. Lake City Bank serves Northern Indiana with 43 branches located in the following Indiana counties: Kosciusko, Elkhart, Allen, St. Joseph, DeKalb, Fulton, Huntington, LaGrange, Marshall, Noble, Pulaski and Whitley.

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