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Lakeland Financial Close Over-Allotment Of Common Stock Offering

December 16, 2009 (FinancialWire) — Lakeland Financial Corp. (NASDAQ: LKFN), parent company of Lake City Bank, said the closing of the sale of 125,431 shares of common stock pursuant to the underwriters’ exercise of the over-allotment option, which the company granted in connection with its previously announced underwritten public stock offering.

The company sold the additional shares to the underwriters at the same public offering price of $17.00 per share agreed to for the initial closing on November 18, 2009. The aggregate net proceeds to the company from the public offering, after deducting underwriting discounts and commissions and offering expenses, including the net proceeds of approximately $2.0 million from the sale of shares pursuant to the over-allotment option, are approximately $57.9 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.

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