Microsoft on Tuesday unveiled the Xbox One, an entertainment console meant to be the one system households will need for games, television, movies and other entertainment.Lake City Bank courts new customers throughout northeast Indiana.
But when it comes to attracting investors, the Warsaw-based institution has to think nationally – and even internationally.
That’s why the bank’s leaders are taking their show on the road, presenting parent company Lakeland Financial Corp.’s story to the heads of institutional investment funds today at the InvestIndiana Equity Conference.
The event, held every two years in Indianapolis, was launched in 2008. Institutional fund managers and analysts are invited to learn more about public companies based in Indiana.
Company officials typically travel to meet analysts and investors in New York, Boston, Chicago and other major cities, said Terry McWilliams, chairman and founder of InvestIndiana.
About 200 people are registered to attend this year, including about 25 from presenting companies, he said. The rest are investment fund managers and analysts.
David Findlay, Lake City’s president and chief financial officer, likes being able to present his company’s accomplishments on home turf. This is Lake City Bank’s third time as a presenter.
Pitches typically include a company’s history, strategic vision and financial reports.
Each presenting company pays $1,975 to participate. Fund managers and analysts pay only their travel and hotel costs, McWilliams said. Sponsors cover any remaining costs.
This year’s event is in Lucas Oil Stadium, a return to the 2008 site. The 2010 conference was at the Indianapolis Motor Speedway.
Findlay said the conference has improved each year, with more fund managers and analysts requesting private appointments with Lake City officials. The meetings are especially important for regional banks, which haven’t established a national reputation, he said.
McWilliams, who also is president of Louisville, Ky.-based Mozaic Investor Relations Inc., said the presenters include six Indiana banks but also manufacturing, retailing, energy and insurance companies. “We’ve got the full spectrum of industries that represent Indiana.”
