Lakeland Financial (NASDAQ:LKFN) operates across Indiana as the 45 branch Lake City Bank. The bank, founded in 1872, is well positioned to benefit from economic recovery in the Great Lakes region.
3 catalysts support Lakeland's future loan and net income growth.
1. An improving employment picture
2. Rising state gross domestic product
3. Higher home demand.
Ongoing job and income growth supports consumer loan demand.
Indiana was hard hit in the recession, losing 250,000 jobs and recording peak unemployment near 11%. However, the state has been rebounding thanks to manufacturing and unemployment has declined more than 2% over the past two years.
As a result, the state has added over 40,000 jobs in the past year --...
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