Faraz Abbasi appointed to the boards of Lakeland Financial Corporation and Lake City Bank

WARSAW, Indiana, Jan. 14, 2022 (GLOBE NEWSWIRE) — Lakeland Financial Corporation (Nasdaq Global Select/LKFN) and Lake City Bank announced today that Faraz Abbasi has been appointed to their respective boards of directors effective of January 11, 2022.

Abbasi is a managing partner at Indianapolis-based Centerfield Capital Partners. Centerfield is a private equity investment firm that works closely with equity sponsors, independent sponsors, business owners and management teams seeking subordinated debt and equity financing to build businesses and create value. In addition to managing the general operations of the firm, he is responsible for investor relations, due diligence oversight and portfolio management. He is a member of the investment committee of the limited partnership. Abbasi joined Centerfield in 2001.

“Faraz brings valuable experience to our boardroom,” said David M. Findlay, President and CEO. “Not only has he been instrumental in the growth and success of Centerfield Capital Partners during his 20-year tenure, but his focus on developing long-term relationships with limited partners, private equity sponsors and management teams fits perfectly with Lake City Bank’s philosophy as a community bank.”

Abbasi holds an MBA in finance from Indiana University Kelley School of Business and a bachelor’s degree in chemical engineering from the University of Texas. He is an assistant professor of finance at the Kelley School of Business at Indiana University. Abbasi has served as a director of more than a dozen private companies in the healthcare, manufacturing, information technology and business services sectors.

“The bank’s reputation and growth over the years has been impressive,” Abbasi said. “I am delighted to work with the Lake City Bank team to continue the bank’s track record of strong performance for shareholders and focused community banking services for its customers and communities.”

Abbasi is a board member of the Indiana Chapter of the Young President’s Organization, a member of the Board of Governors of the Riley Children’s Foundation, and a member of the Dean’s Council of the IU Kelley School of Business Indianapolis. Abbasi was also the former Chairman of the Board of Fairbanks Hospital, the Board of Governors and former Chairman of the Small Business Investors Alliance and former Chairman of the Venture Club of Indiana. He has been recognized as 40 under 40 and Who’s Who in Finance by the Indiana Business Journal. Abbasi also received the Best and Brightest award from the Junior Achievement of Indiana. Additionally, Abbasi holds a patent in semiconductor processing and has published papers related to finance and the semiconductor industry.

Lakeland Financial Corporation (Nasdaq Global Select/LKFN) is a $6.6 billion bank holding company headquartered in Warsaw, Indiana. Lake City Bank, its sole banking subsidiary, is the sixth largest bank headquartered in the state and the largest 100% invested bank in Indiana. Lake City Bank operates 51 offices in northern and central Indiana, providing technology-driven, customer-centric financial services solutions to individuals and businesses. For more information, visit lakecitybank.com.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c9bacb3-e220-4da2-b66f-617216f61f48

Shawanda H. Saldana