Banking & Finance

Upstate bank headed for Fishers

June 8, 2013

A Warsaw-based bank will build in Fishers its second Indianapolis-area office.

Lake City Bank, owned by Lakeland Financial Corp., will spend at least $2.8 million on the office set for the northeast corner of State Road 37 and 131st Street.

The branch will be one of the first tenants in Fishers Marketplace. The retail complex is at the site of a former golf course that was slated to become a water park until the economic downturn dashed plans.

Lake City Bank opened an office in Indianapolis—at Meridian Street and I-465—in late 2011. It “has grown faster than any office in Lake City Bank’s 140-year history,” CEO Michael Kubacki said.

Lakeland Financial has $2.9 billion in assets. It had Indianapolis deposits of $57.7 million as of mid-2012, according to FDIC data. Its deposit market share in the metro area was 0.17 percent.

Lake City has 45 branches, mostly in northern Indiana.

Lake City is upping its presence here as Evansville-based Old National Bancorp scales back. Old National late last month said it will close 13 branches in the Indianapolis area, leaving 27 others open. Most of the branches closing are within existing retail stores such as supermarkets.

Nationally, banks have been shuttering branches amid the rise in online banking.

Lake City’s Fishers branch will have 3,700 square feet and is slated to open in November. Hokanson Cos. helped Lake City find the space and will oversee construction.

ADVERTISEMENT

Recent Articles by IBJ Staff

Comments powered by Disqus