Lake City Bank (LKFN) 2020年年度报告「NASDAQ」.pdf

1、ANNUALREPORTLAKELAND FINANCIAL CORPORATIONLake City Bank Shareholders,Clients and Community Partners:When should an annual report to shareholders focus on more than just the financial performance of an organization?Thats an easy one for all of us.In 2020.As it did for most organizations,the year cha

2、llenged the Lake City Bank team in ways that we couldnt have imagined.And there wasnt much fun involved either.But we are a stronger organization as a result.As we entered 2021,it seemed like all anyone wanted to talk about was the fact that 2020 was over.And while the Lake City Bank team is glad to

3、 have the year in our rearview mirror,we are enormously proud of what the bank achieved.Community banking shined in 2020.It became increasingly clear throughout the year that community banks like Lake City Bank are critical to the delivery of financial services in our communities and to our clients.

4、This was particularly evident with the Paycheck Protection Program(PPP).We originated$571 million of PPP loans for 2,409 clients during the first round of the program.In a few short weeks,our balance sheet ballooned by more than 10%due to the program!With the Lake City Bank team working everywhere f

5、rom their kitchen tables to our disaster recovery sites,we came together quickly and cohesively to do what we always do,and that is to take care of our clients.The volume of interest and applications was extraordinary and we were very pleased that we were able to take care of 100%of our clients who

6、completed the application process before the Small Business Administration closed the application portal.These loans were critical lifelines to our clients during an unprecedented period of uncertainty and challenge.The value proposition of the Lake City Bank community banking model has never been m