<SEC-DOCUMENT>0000721994-19-000032.txt : 20190620
<SEC-HEADER>0000721994-19-000032.hdr.sgml : 20190620
<ACCEPTANCE-DATETIME>20190620152715
ACCESSION NUMBER:		0000721994-19-000032
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20181231
FILED AS OF DATE:		20190620
DATE AS OF CHANGE:		20190620

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKELAND FINANCIAL CORP
		CENTRAL INDEX KEY:			0000721994
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				351559596
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11487
		FILM NUMBER:		19908419

	BUSINESS ADDRESS:	
		STREET 1:		202 E CENTER ST
		STREET 2:		P O BOX 1387
		CITY:			WARSAW
		STATE:			IN
		ZIP:			46581-1387
		BUSINESS PHONE:		5742676144

	MAIL ADDRESS:	
		STREET 1:		202 E CENTER ST
		STREET 2:		PO BOX 1387
		CITY:			WARSAW
		STATE:			IN
		ZIP:			46581
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>lkfn11k.htm
<DESCRIPTION>FORM 11-K
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Washington, D.C.&#160;20549</font></div>
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    <div style="text-align: center;"><font style="font-size: 14pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FORM 11-K</font></div>
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              <td style="width: 36pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">[X]</font></td>
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                <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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    <div style="text-align: center; text-indent: -72pt; margin-left: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the fiscal year ended <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;
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                <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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    <div style="text-align: center; text-indent: -36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the transition period from _______ to _______</font></div>
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                <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Full title of the plan and the address of the plan, if different from that of the issuer named below:</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Lakeland Financial Corporation 401(k) Plan</font></div>
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                <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Lakeland Financial Corporation</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">202 East Center Street, P.O. Box 1387</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Warsaw, Indiana 46581-1387</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">REQUIRED INFORMATION</font></div>
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    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Audited statements of net assets available for benefits of the Lakeland Financial Corporation 401(k) Plan as of December 31,
        2018 and 2017, and the related statement of changes in net assets available for benefits for the year ended December 31, 2018 are provided as Exhibit 99.1 to this Form 11-K.</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURES</font></div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The Plan.</font>&#160;
        Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly
        authorized.</font></div>
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    <div style="text-align: justify; text-indent: 216pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">LAKELAND FINANCIAL CORPORATION</font></div>
    <div style="text-align: justify; text-indent: 216pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">401(k) PLAN</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Date:</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">June 20, 2019</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px;
          font-size: 1px; width: 180pt">&#160;</font>By:&#160; Lakeland Financial Corporation, as Trustee<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt">&#160;</font>&#160; &#160; &#160; &#160; &#160;&#160;</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to the Plan</font></div>
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    <div style="text-align: justify; text-indent: 180pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; By:&#160; /s/ Jill A. DeBatty</font></div>
    <div style="text-align: left; text-indent: 180pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; Jill A. DeBatty</font></div>
    <div style="text-align: left; text-indent: 180pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; Senior Vice President, People Development</font></div>
    <div style="text-align: left; text-indent: 180pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; Director and Plan Administrator</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">LAKELAND FINANCIAL CORPORATION 401(k) PLAN</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">EXHIBIT INDEX</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TO</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ANNUAL REPORT ON FORM 11-K</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Exhibit No.</font></div>
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            <div>&#160;</div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Description</font></div>
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            <div>&#160;</div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Sequential</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Page No.</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">23.1</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Consent of Crowe LLP</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">5</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">99.1</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Financial Statements</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">6</font></div>
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          <td style="width: 13.29%; vertical-align: top;">&#160;</td>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ex231.htm
<DESCRIPTION>EXHIBIT 23
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We consent to the incorporation by reference in Registration Statement No 333-48402 on Form S-8 of Lakeland Financial Corporation of our
        report dated June 20, 2019 appearing in this Annual Report on Form 11-K of Lakeland Financial Corporation 401(k) Plan for the year ended December 31, 2018.</font></div>
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    <div style="text-align: justify; text-indent: 252pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Crowe LLP</font></div>
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    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">South Bend, Indiana</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">June 20, 2019</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex991.htm
<DESCRIPTION>EXHIBIT 99
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">LAKELAND FINANCIAL CORPORATION</div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FINANCIAL STATEMENTS</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">December 31, 2018 and 2017</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Warsaw, Indiana</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">FINANCIAL STATEMENTS</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">December 31, 2018 and 2017</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">CONTENTS</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
        FIRM&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">FINANCIAL STATEMENTS</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block;
        text-indent: 0px; font-size: 1px; width: 432pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"></font></font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3</font></div>
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    <div style="text-align: justify; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR
        BENEFITS&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4</font></div>
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    <div style="text-align: justify; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">NOTES TO FINANCIAL STATEMENTS</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;

      <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">5</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">SUPPLEMENTAL SCHEDULE</font></div>
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    <div style="text-align: justify; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF
        YEAR)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; 10</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Administrative Oversight Committee, Plan Administrators</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;and Plan Participants</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Lakeland Financial Corporation</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;401(k) Plan</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Warsaw, Indiana</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Opinion on the Financial Statements</font></div>
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    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We have audited the accompanying statements of net assets available for benefits of Lakeland Financial Corporation 401(k) Plan (the "Plan")
        as of December 31, 2018<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font>and 2017, the related statement of changes in net assets available for benefits for the year ended December 31, 2018, and the related notes<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font>(collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available
        for benefits of the Plan as of December 31, 2018 and 2017, and the changes in net assets available for benefits for the year ended December 31, 2018, in conformity with accounting principles generally accepted in the United States of America.</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Basis for Opinion</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's
        financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the
        U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
        reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial
        reporting.&#160; As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan&#8217;s internal control over financial
        reporting.&#160; Accordingly, we express no such opinion.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or
        fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting
        principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Supplemental Information</font></div>
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    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The supplemental Schedule H, Line 4i &#8211; Schedule of Assets (Held at End of Year) as of December 31, 2018 has been subjected to audit
        procedures performed in conjunction with the audit of the Plan&#8217;s financial statements.&#160; The supplemental schedule is the responsibility of the Plan&#8217;s management.&#160; Our audit procedures included determining whether the</font></div>
    <div><br>
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      <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as
        applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule.&#160; In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including
        its form and content, is presented in conformity with the Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.&#160; In our opinion, the supplemental schedule is fairly
        stated in all material respects in relation to the financial statements as a whole.</font></div>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ Crowe LLP</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We have served as the Plan's auditor since 1983.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">South Bend, Indiana</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">June 20, 2019</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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      <table cellspacing="0" cellpadding="0" id="z4b4d984f31fc45c6a326d041aed4a80d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

          <tr>
            <td style="width: 60.8%; vertical-align: top;" colspan="9" rowspan="1">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">LAKELAND FINANCIAL CORPORATION 401(k) PLAN</div>
            </td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 77.05%; vertical-align: top;" colspan="10" rowspan="1">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 32.83%; vertical-align: top;" colspan="9" rowspan="1">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">December 31, 2018 and 2017</font></div>
            </td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.93%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 6.08%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.93%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 6.08%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.93%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 6.08%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.93%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 6.08%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2018</font></div>
            </td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2017</font></div>
            </td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="width: 10.95%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Assets</font></div>
            </td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.93%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 6.08%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.93%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 10.95%; vertical-align: top;">&#160;</td>
            <td style="width: 6.08%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top;">&#160;</td>
            <td style="width: 3.35%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 32.83%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="3">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Investments, at fair value</font></div>
            </td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;$&#160; &#160; 77,492,558</font></div>
            </td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;$&#160; &#160; 86,842,313</font></div>
            </td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <tr>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.88%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
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            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255);">
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255);">
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 43.77%; vertical-align: top; background-color: rgb(204, 238, 255); padding-bottom: 4px;" colspan="4">
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            <td style="width: 10.95%; vertical-align: top; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
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            <td style="width: 3.35%; vertical-align: top; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
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          <tr>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 10.95%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 6.08%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.25%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">LAKELAND FINANCIAL CORPORATION 401(k) PLAN</div>
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            <td style="width: 15.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.39%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 11.61%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 21.83%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 11.61%; vertical-align: top;">&#160;</td>
            <td style="width: 15.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.39%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 11.61%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 21.83%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 11.61%; vertical-align: top;">&#160;</td>
            <td style="width: 15.35%; vertical-align: top;">&#160;</td>
            <td style="width: 16.39%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 11.61%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 21.83%; vertical-align: top;">&#160;</td>
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            <td style="width: 11.61%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 21.83%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 43.36%; vertical-align: top;" colspan="3">
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            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 11.61%; vertical-align: top;">&#160;</td>
            <td style="width: 11.6%; vertical-align: top;">&#160;</td>
            <td style="width: 21.83%; vertical-align: top;">&#160;</td>
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          <tr>
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            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">
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            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
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          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 31.74%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
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            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 15.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.39%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <tr>
            <td style="width: 26.97%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
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            <td style="width: 16.39%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 26.97%; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">
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            <td style="width: 16.39%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(255, 255, 255);">
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          <tr>
            <td style="width: 26.97%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Participants</font></div>
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            <td style="width: 16.39%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">
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          <tr>
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            <td style="width: 16.39%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
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          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 31.74%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Total contributions</font></div>
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            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 15.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.39%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 31.74%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
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            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 15.35%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.39%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <tr>
            <td style="width: 54.96%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="4">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Deductions from net assets attributed to:</font></div>
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            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 54.96%; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="4">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Benefits paid directly to participants</font></div>
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            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(255, 255, 255);">
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          </tr>
          <tr>
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              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Administrative expenses</font></div>
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            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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            </td>
          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 31.74%; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Total deductions</font></div>
            </td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
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            </td>
          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.39%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 26.97%; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Net decrease</font></div>
            </td>
            <td style="width: 16.39%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(255, 255, 255);">
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          </tr>
          <tr>
            <td style="width: 43.36%; vertical-align: top; background-color: rgb(204, 238, 255);" colspan="3">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Net assets available for benefits</font></div>
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            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 43.36%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);" colspan="3">
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            <td style="width: 11.6%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; padding-bottom: 2px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
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          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.39%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 26.97%; vertical-align: top; padding-bottom: 4px; background-color: rgb(255, 255, 255);" colspan="2">
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            </td>
            <td style="width: 16.39%; vertical-align: top; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; padding-bottom: 4px; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 78,652,881</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.35%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.39%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.61%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.6%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 21.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
      </font></div>
    <br>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NOTE 1 - DESCRIPTION OF PLAN</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The following description of the Lakeland Financial Corporation 401(k) Plan (the &#8220;Plan&#8221;) is provided for general information purposes only.&#160;
        Participants should refer to the Plan agreement for a more complete description of the Plan&#8217;s provisions.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>General</u></font>:&#160; The Plan is a defined contribution
        401(k) profit sharing plan covering substantially all employees of Lakeland Financial Corporation (&#8220;LFC&#8221;) and its subsidiary, Lake City Bank (collectively, &#8220;employer&#8221;).&#160; An employee becomes eligible to enter the Plan on January 1, April 1, July 1,
        and October 1 following attainment of age 18 and completion of one month of service.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Plan was originally adopted December 13, 1983 and has been amended.&#160; Participants should refer to the amended and restated Plan agreement
        for a more complete description of the Plan&#8217;s provisions.&#160; The Plan provides for retirement, death, disability and termination benefits, and it is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Investment Funds</u></font>:&#160; The Plan consists of 28 funds,
        or investment options, one of which is invested in LFC common stock.&#160; Thirteen of the funds are &#8220;Fidelity Freedom&#8221; funds that are targeted retirement funds consisting of blends of equities and fixed income securities.&#160; The &#8220;Artisan Mid Cap Fund&#8221;,
        &#8220;Victory Sycamore Established Value Fund&#8221;, &#8220;MFS Value R3 Fund&#8221;, &#8220;Fidelity Contrafund&#8221;, &#8220;Fidelity Small Cap Discovery Fund&#8221;, &#8220;T. Rowe Price QM Small Cap Fund&#8221;, and &#8220;Fidelity Spartan 500 Index Advantage Fund&#8221; are invested primarily in common and
        preferred stock.&#160; The &#8220;Fidelity Spartan US Bond Index Fund&#8221; and &#8220;PIMCO Short Term Fund&#8221; are invested primarily in fixed income securities.&#160; The &#8220;Fidelity Retirement Money Market Fund&#8221; is invested primarily in short-term fixed income investments
        having maturities of one year or less, and the &#8220;Fidelity Diversified International Fund&#8221;, &#8220;Templeton Global Bond A Fund&#8221; and &#8220;Fidelity Spartan Emerging Markets Index Advantage Fund&#8221; are invested primarily in foreign common stocks. The &#8220;PIMCO All
        Asset Fund&#8221; is invested primarily in mutual funds.&#160; A participant&#8217;s salary redirection is invested in any of the funds offered at the participant&#8217;s discretion.&#160; Employer matching contributions are invested in the same funds as the participant&#8217;s
        salary redirection, and in the same proportions.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Participant Accounts</u></font>:&#160; Each participant&#8217;s account
        is credited with the participant&#8217;s contribution and allocation of (a) the employer&#8217;s contributions, (b) Plan earnings and (c) forfeitures of non-vested balances of account of participants who have left the Plan and charged with his or her
        withdrawals.&#160; Allocations are based on participant earnings or account balances, as defined.&#160; The benefit to which a participant, or beneficiary, is entitled is the benefit that can be provided from the participant&#8217;s vested account.</font></div>
    <div><br>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Contributions</u></font>:&#160; The Plan provides that
        participants may make voluntary pre-tax contributions to the Plan in amounts equal to the maximum amount allowable under the Internal Revenue Code ($18,500 in 2018).&#160; Catch up contributions are permitted for those eligible employees over the age of
        50 years and are limited to $6,000 in 2018.&#160; Each year the employer may set a matching percentage of a participant&#8217;s compensation, as well as make discretionary contributions.&#160; For 2018, the matching percentage was set at 102% of the first 6% of
        compensation an employee contributes to the Plan as a voluntary contribution.&#160; In addition, no discretionary contributions were made.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Death, Disability or Retirement Benefits</u></font>:&#160; Under
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    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Vesting</u></font>:&#160; Participants are 100% vested in salary
        deferral contributions.&#160; Employer contributions vest according to a five-year graded schedule.</font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NOTE 1 - DESCRIPTION OF PLAN </font>(Continued)</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Forfeitures</u></font>:&#160; Upon termination of employment,
        participants with less than five years of credited service will forfeit their non-vested balances.&#160; Forfeitures of non-vested terminated participants&#8217; accounts are used to pay Plan expenses and/or offset employer contributions.&#160; Unallocated
        forfeitures amounted to $59,976 and $63,095 as of December 31, 2018 and 2017, respectively.&#160; Forfeitures of $65,516 were used to pay Plan expenses and to offset employer contributions for 2018.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Payments of Benefits</u></font>:&#160; On termination of service,
        a participant may elect to receive either a lump sum or direct rollover amount equal to the value of his or her vested interest in the account.&#160; For distributions of LFC stock, distributions are made in stock or cash at the participant&#8217;s option,
        with the exception of fractional shares which are paid out in cash.&#160; Distributions out of the other funds are made in cash.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Administrative and Investment Management Expenses</u></font>:&#160;


        Substantially all administrative expenses are paid by the employer.&#160; Investment management fees are charged to the Plan as a reduction of investment return and included in the investment income (loss) reported by the Plan.</font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The policies and principles, which significantly affect the determination of net assets and changes in net assets, are summarized below.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Basis of Accounting</u></font>:&#160; The accounting practices and
        principles followed by the Plan and the methods of applying those principles conform to U.S. generally accepted accounting principles.&#160; The financial statements of the Plan are prepared under the accrual basis of accounting.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Investment Valuation and Income Recognition</u></font>:&#160; The
        Plan&#8217;s investments are reported at fair value.&#160; Purchases and sales of securities are recorded on a trade-date basis.&#160; Interest income is recorded on the accrual basis.&#160; Dividends are recorded on the ex-dividend date.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fair value is the price that would be received by the Plan for an asset or paid by the Plan to transfer a liability (an exit price) in an
        orderly transaction between market participants on the measurement date in the Plan&#8217;s principal or most advantageous market for the asset or liability.&#160; Fair value measurements are determined by maximizing the use of observable inputs and
        minimizing the use of unobservable inputs.&#160; The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurements) and gives the lowest priority to unobservable
        inputs (Level 3 measurements).&#160; The three levels of inputs within the fair value hierarchy are defined as follows:</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Plan has the ability to
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    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or
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    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Level 3: Significant unobservable inputs that reflect the Plan&#8217;s own assumptions about the assumptions that market
        participants would use in pricing an asset or liability.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">In some cases, a valuation technique used to measure fair value may include inputs from multiple levels of the fair value hierarchy.&#160; The
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    <div><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING
          POLICIES </font>(Continued)</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The fair values of LFC common stock and mutual fund investments are determined by obtaining quoted prices on nationally recognized securities
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    <div><br>
    </div>
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        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.42%; vertical-align: bottom;" colspan="5">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fair Value Measurements</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.42%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="5">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">at December 31, 2018 Using</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.92%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Quoted Prices in</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Significant</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.92%; vertical-align: bottom;">
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          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Other</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Significant</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.92%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">for Identical</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Observable</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Unobservable</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.92%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Assets</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.92%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Level 1)</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Level 2)</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Level 3)</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.92%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;Lakeland Financial Corp Common Stock</font></div>
          </td>
          <td style="width: 22.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; margin-right: 15.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$&#160; 37,530,956</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; margin-right: 23.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt">&#160;</font>&#160;
                &#160;&#160; -</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; margin-right: 31.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$&#160; &#160; &#160; -</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.58%; vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="2">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;Mutual Funds</font></div>
          </td>
          <td style="width: 22.92%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right; margin-right: 15.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">39,961,602</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 13.24%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right; margin-right: 23.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 15.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right; margin-right: 31.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf60728cc712f484d99d76cfad9234359" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.47%; vertical-align: bottom;" colspan="5">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fair Value Measurements</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.47%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="5">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">at December 31, 2017 Using</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.38%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Quoted Prices in</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Significant</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.38%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Active Markets</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Other</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Significant</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.38%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">for Identical</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Observable</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Unobservable</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.38%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Assets</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.38%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Level 1)</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Level 2)</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Level 3)</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.17%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 22.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.52%; vertical-align: bottom;">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;Lakeland Financial Corp Common Stock</font></div>
          </td>
          <td style="width: 22.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; margin-right: 15.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$&#160; 43,400,181</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; margin-right: 23.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt">&#160;</font>&#160;
                &#160;&#160; -</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; margin-right: 31.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$&#160; &#160; &#160; -</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="2">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;Mutual Funds</font></div>
          </td>
          <td style="width: 22.38%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right; margin-right: 15.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">43,442,132</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 13.39%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right; margin-right: 23.05pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
          </td>
          <td style="width: 2.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 15.66%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right; margin-right: 31.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Net Appreciation (Depreciation) in Fair Value of Investments</u></font>:&#160;


        in accordance with the policy of stating investments at fair value, net unrealized appreciation (depreciation) for the year along with gains and losses on sales of investments are reflected in the statement of changes in net assets available for
        benefits as net appreciation (depreciation) in fair value of investments.&#160; Unrealized appreciation (depreciation) for investments held as of the end of the current fiscal year is the difference between the current value of those investments and the
        value of those investments as of the end of the prior fiscal year or the purchase date for investments purchased during the year.</font></div>
    <div><br>
    </div>
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    <div><br>
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    <div><br>
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    <div><br>
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        investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in the values of investments will occur in the near term and that such changes could materially affect the
        amounts reported in the statements of net assets available for benefits, and future statements of changes in net assets available for benefits and participants&#8217; account balances.</font></div>
    <div><br>
    </div>
    <div><br>
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    <div><br>
    </div>
    <div><br>
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    <div><br>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Parties-in-interest are defined under Department of Labor Regulations as any fiduciary of the Plan, any party rendering service to the Plan,
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    <div><br>
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    <div><br>
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    <div><br>
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            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2018:</font></font></div>
          </td>
          <td style="width: 10.74%; vertical-align: bottom;">&#160;</td>
          <td style="width: 19.24%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 70.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;Lakeland Financial Corporation common stock &#8211; 934,536 shares</font></div>
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          </td>
        </tr>
        <tr>
          <td style="width: 70.02%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 10.74%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 19.24%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
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        <tr>
          <td style="width: 70.02%; vertical-align: bottom; border-bottom: 2px solid black; background-color: rgb(204, 238, 255);">
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          <td style="width: 10.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 19.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td style="width: 70.02%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
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          <td style="width: 19.24%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
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          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div><br>
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    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the
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    <div><br>
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    <div><br>
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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">LAKELAND FINANCIAL CORPORATION 401(k) PLAN</div>
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          <td style="width: 37.74%; vertical-align: top;">&#160;</td>
          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
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          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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          <td style="width: 6.12%; vertical-align: top;">&#160;</td>
          <td style="width: 33.27%; vertical-align: top;">&#160;</td>
          <td style="width: 37.74%; vertical-align: top;">&#160;</td>
          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 6.12%; vertical-align: top;">&#160;</td>
          <td style="width: 33.27%; vertical-align: top;">&#160;</td>
          <td style="width: 37.74%; vertical-align: top;">&#160;</td>
          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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          <td style="width: 6.12%; vertical-align: top;">&#160;</td>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(C)</font></div>
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          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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          <td style="width: 6.12%; vertical-align: top;">&#160;</td>
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          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 6.12%; vertical-align: top;">&#160;</td>
          <td style="width: 33.27%; vertical-align: top;">&#160;</td>
          <td style="width: 37.74%; vertical-align: top;">&#160;</td>
          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 6.12%; vertical-align: top;">&#160;</td>
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          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.12%; vertical-align: top;">
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          </td>
          <td style="width: 33.27%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Investments</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Retirement Money Market Fund</font></div>
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          <td style="width: 6.83%; vertical-align: top;">&#160;</td>
          <td style="width: 16.03%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;2,428,528 shares</font></div>
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          <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 37.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 6.83%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 16.03%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">
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          <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 16.03%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Investments</font></div>
          </td>
          <td style="width: 37.74%; vertical-align: top; background-color: rgb(255, 255, 255);">
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          <td style="width: 16.03%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">#</font></div>
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          <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 37.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <td style="width: 16.03%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Investments</font></div>
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            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
            <td style="width: 37.74%; vertical-align: top;">&#160;</td>
            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
            <td style="width: 37.74%; vertical-align: top;">&#160;</td>
            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
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            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
            <td style="width: 37.74%; vertical-align: top;">&#160;</td>
            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 6.12%; vertical-align: top;">
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            </td>
            <td style="width: 33.27%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Investments</font></div>
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            <td style="width: 37.74%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Freedom 2020 K</font></div>
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            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 6.83%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.03%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
            </td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Investments</font></div>
            </td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Fidelity Freedom 2030 K</font></div>
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            <td style="width: 6.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.03%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">
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            <td style="width: 6.83%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.03%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">#</font></div>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 16.03%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td style="width: 16.03%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
            <td style="width: 37.74%; vertical-align: top;">&#160;</td>
            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
            <td style="width: 37.74%; vertical-align: top;">&#160;</td>
            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
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            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
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            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top;">&#160;</td>
            <td style="width: 33.27%; vertical-align: top;">&#160;</td>
            <td style="width: 37.74%; vertical-align: top;">&#160;</td>
            <td style="width: 6.83%; vertical-align: top;">&#160;</td>
            <td style="width: 16.03%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 6.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 16.03%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Lakeland Financial Corporation</font></div>
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              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Common Stock</font></div>
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            <td style="width: 6.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.03%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 6.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.03%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 6.83%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 16.03%; vertical-align: top; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 77,492,558</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 6.12%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 33.27%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 37.74%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 6.83%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 16.03%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div></div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">* Denotes party-in-interest</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"># Investments are participant directed, therefore, historical cost information is not required</font></div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">12</font></div>
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</DOCUMENT>
</SEC-DOCUMENT>
