SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C. 20549

                                   FORM 8-K

                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934

    Date of Report                                      April 15, 2003
    (Date of earliest event reported)

                        Lakeland Financial Corporation
            (Exact name of Registrant as specified in its charter)

                                    Indiana
                (State or other jurisdiction of incorporation)

         0-11487                                  35-1559596
    (Commission File Number)          (I.R.S. Employer Identification Number)

    202 East Center Street, P.O. Box 1387, Warsaw, Indiana          46581-1387
              (Address of principal executive offices)              (Zip Code)

                                (574) 267-6144
             (Registrant's telephone number, including area code)

Item 5.  Other Information

         On April 15, 2003,  the Registrant  issued a press release  regarding
its earnings for the first quarter ended March 31, 2003.  The press release is
attached hereto as Exhibit 99.1.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (a)      Financial Statements of Business Acquired.

                  None.

         (b)      Pro Forma Financial Information.

                  None.

         (c)      Exhibits.

                  99.1     Press Release dated April 15, 2003

                                  SIGNATURES

         Pursuant to the  requirements of the Securities  Exchange Act of 1934,
 the Registrant has duly caused this report to be signed on its behalf by the
 undersigned hereunto duly authorized.

                        LAKELAND FINANCIAL CORPORATION

Dated:  April 15, 2003                         By:    /s/ David M. Findlay
                                                       David M. Findlay
                                                       Chief Financial Officer

                                 Exhibit 99.1

                        LAKELAND FINANCIAL CORPORATION

FOR IMMEDIATE RELEASE               Contact:       David M. Findlay
                                                   Executive Vice President
                                                   and Chief Financial Officer
                                                   (574) 267-9197

                            RECORD RESULTS REPORTED
                            FOR LAKELAND FINANCIAL

                Quarterly Dividend of $0.19 Per Share Announced

     Warsaw,  Indiana  (April  15,  2003)  -  Lakeland  Financial  Corporation
(Nasdaq/LKFN),  parent  company  of Lake  City  Bank,  today  reported  record
quarterly  net  income of $3.5  million  for the  first  quarter  of 2003,  an
increase of 19% versus $3.0 million for the comparable period in 2002. Diluted
net income per common  share for the  quarter was $0.59  versus  $0.50 for the
comparable period in 2002.

     The Company also  announced  that the Board of Directors  approved a cash
dividend for the first  quarter of $0.19 per share,  payable on April 25, 2003
to shareholders of record on April 10, 2003. The quarterly dividend represents
a 12% increase over the quarterly dividend of $0.17 paid in 2002.

     Michael L. Kubacki,  President and Chief  Executive  Officer,  commented,
"The Lake City Bank team delivered another strong  performance in the quarter.
We are proud to report stable growth throughout the income statement, led by a
31% increase in total noninterest income."

     Kubacki continued,  "Noninterest  income increased to $4.4 million versus
$3.3 million in the comparable  period in 2002, driven by mortgage sales gains
of $1.1 million, an increase of $718,000 versus the comparable period in 2002.
The unprecedented volume of mortgage  originations  continued during the first
quarter.  While mortgage rates remain near  historically low levels, we do not
anticipate  that this level of mortgage  sales gains will continue  throughout
the year. Also adding to the strong  increase in noninterest  income was a 19%
increase in service  charges on deposit  accounts which grew from $1.4 million
to $1.7  million  as a  result  of  increases  in  both  business  and  retail
accounts."

     "Net interest income after the provision for loan losses  increased by 2%
from $9.7  million in the first  quarter of 2002 to $9.9 million for the first
quarter of 2003. Net interest income performance was negatively  impacted by a
decline in the net interest  margin from 4.12% in the first quarter of 2002 to
3.93% in the first  quarter  of 2003.  We are  pleased  that the net  interest
margin  improved from 3.77% in the fourth  quarter of 2002,  but expect margin
pressures  to continue  due to overall  lower asset  yields and the  generally
lower interest rate environment," added Kubacki.

     Average  loans for the quarter  ended  March 31,  2003 were $830  million
versus  $746  million  during the first  quarter of 2002 and $801  million for
fourth  quarter of 2002.  Total loans as of March 31,  2003 were $827  million
versus $745  million as of March 31, 2002 and $823  million as of December 31,
2002. Lakeland Financial's  allowance for loan losses as of March 31, 2003 was
$9.7 million,  or 1.18% of gross loans,  compared to $8.3 million, or 1.12% of
gross loans, as of March 31, 2002 and $9.5 million, or 1.16% of gross loans as
of December 31, 2002.  Non-performing  assets totaled $8.8 million as of March
31, 2003 versus $3.4 million on March 31, 2002 and $7.7 million as of December
31,  2002.  The  increase  resulted  primarily  from the  addition of a single
commercial  loan.  The  ratio of  non-performing  assets to loans was 1.06% on
March 31, 2003  compared to 0.46% on March 31, 2002 and 0.94% at December  31,
2002.

     Kubacki commented, "Commercial loan demand slowed in the first quarter as
our region  continued to experience  economic  uncertainty.  This reduction in
demand, in conjunction with our adherence to diligent underwriting  standards,
led to  relatively  modest net loan  growth in the  quarter.  Furthermore,  we
retained a  conservative  approach to our loan loss reserve by increasing  the
reserve during the quarter from $9.5 million to $9.7 million.  Net charge offs
totaled  $458,000 in the quarter versus  $139,000 in the first quarter of 2002
and $315,000  during the fourth quarter of 2002. We remain  concerned with the
overall  weak  economic  conditions  that have  contributed  to an increase in
non-performing assets and believe we are taking appropriate actions to monitor
and manage asset quality."

     For the quarter ended March 31, 2003, Lakeland Financial's average equity
to average  assets ratio was 7.07%  compared to 6.80% for the first quarter of
2002 and 6.88% for the fourth quarter of 2002. Average stockholders' equity in
the quarter was $85.6 million versus $75.2 million for the  comparable  period
in 2002 and $82.6  million  for the  fourth  quarter  of 2002.  Average  total
deposits for the quarter  ended March 31, 2003 were $934  million  versus $817
million  for the  comparable  period in 2002 and $916  million  for the fourth
quarter of 2002.

     Lakeland  Financial  Corporation  is a $1.2 billion bank holding  company
headquartered in Warsaw,  Indiana. Lake City Bank serves Northern Indiana with
41 branches located in the following  Indiana  counties:  Kosciusko,  Elkhart,
Allen, St. Joseph,  DeKalb, Fulton,  Huntington,  LaGrange,  Marshall,  Noble,
Pulaski and Whitley.  A 42nd office is currently under  construction in Warsaw
and is expected to open in late 2003.

     Lakeland  Financial  Corporation  may be  accessed  on its  home  page at
www.lakecitybank.com. The Company's common stock is traded on the Nasdaq Stock
Market under "LKFN".  Marketmakers in Lakeland  Financial  Corporation  common
shares  include  Stifel  Nicolaus & Company,  Howe Barnes  Investments,  Inc.,
Raymond James & Associates, Inc., McDonald Investments,  Inc., First Tennessee
Capital Markets and Trident Securities.

     The Company's fixed rate cumulative trust preferred securities are traded
on the Nasdaq Stock Market under the symbols  "LKFNP".  The annual rate on the
fixed rate securities is 9.0%.

     This document (including information incorporated by reference) contains,
and future oral and written  statements of the Company and its  management may
contain,   forward-looking  statements  within  the  meaning  of  the  Private
Securities  Litigation  Reform  Act of  1995  with  respect  to the  financial
condition,  results of operations,  plans, objectives,  future performance and
business of the Company.  Forward-looking statements,  which may be based upon
beliefs,  expectations  and  assumptions  of the Company's  management  and on
information currently available to management,  are generally  identifiable by
the use of words such as "believe," "expect,"  "anticipate," "plan," "intend,"
"estimate,"  "may,"  "will,"  "would,"  "could,"  "should"  or  other  similar
expressions.   Additionally,   all  statements  in  this  document,  including
forward-looking  statements,  speak only as of the date they are made, and the
Company  undertakes  no  obligation  to update any  statement  in light of new
information or future events.

     A number of factors,  many of which are beyond the ability of the Company
to control or predict,  could cause actual results to differ  materially  from
those in its forward-looking statements.  These factors include, among others,
the following:  (i) the strength of the local and national  economy;  (ii) the
economic  impact of September  11th;  (iii) changes in state and federal laws,
regulations  and  governmental   policies  concerning  the  Company's  general
business; (iv) changes in interest rates and prepayment rates of the Company's
assets;  (v) increased  competition in the financial  services  sector and the
inability to attract new customers; (vi) changes in technology and the ability
to develop and maintain secure and reliable electronic systems; (vii) the loss
of key  executives or employees;  (viii)  changes in consumer  spending;  (ix)
unexpected results of acquisitions; (x) unexpected outcomes of existing or new
litigation  involving the Company; and (xi) changes in accounting policies and
practices.  These risks and  uncertainties  should be considered in evaluating
forward-looking  statements  and undue  reliance  should not be placed on such
statements.  Additional  information  concerning the Company and its business,
including  additional  factors  that could  materially  affect  the  Company's
financial  results,  is included in the Company's  filings with the Securities
and Exchange Commission.

                                                    LAKELAND FINANCIAL CORPORATION
                                               FIRST QUARTER 2003 FINANCIAL HIGHLIGHTS
                                  (Unaudited - Dollars in thousands except Share and Per Share Data)

                                                                                                          3 Months Ended
                                                                                                             March 31
                                                                                                        2003             2002
                                                                                                   -------------   -------------
                                                                                                            
END OF PERIOD BALANCES
  Assets                                                                                         $     1,221,616  $    1,108,187
  Deposits                                                                                               961,494         844,751
  Loans                                                                                                  826,865         744,940
  Allowance for Loan Losses                                                                                9,742           8,309
  Common Stockholders' Equity                                                                             86,067          75,683

AVERAGE BALANCES
Assets
  Total Assets                                                                                   $     1,210,872  $    1,106,112
  Earning Assets                                                                                       1,113,508       1,025,975
  Investments                                                                                            275,204         273,724
  Loans                                                                                                  829,647         745,597
Liabilities and Stockholders' Equity
  Total Deposits                                                                                         934,078         817,353
  Interest Bearing Deposits                                                                              776,931         678,262
  Interest Bearing Liabilities                                                                           954,894         882,439
  Common Stockholders' Equity                                                                             85,590          75,193

INCOME STATEMENT DATA
  Net Interest Income                                                                            $        10,558  $       10,221
  Net Interest Income-Fully Tax Equivalent                                                                10,792          10,431
  Provision for Loan Loss                                                                                    667             502
  Noninterest Income                                                                                       4,372           3,345
  Noninterest Expense                                                                                      8,964           8,569
  Net Income                                                                                               3,515           2,954

PER SHARE DATA
  Basic Net Income Per Common Share                                                              $          0.60  $         0.51
  Diluted Net Income Per Common Share                                                                       0.59            0.50
  Cash Dividends Per Common Share                                                                           0.19            0.17
  Book Value Per Common Share                                                                              14.80           13.02
  Market Value - High                                                                                      25.75           20.45
  Market Value - Low                                                                                       23.21           17.45
  Basic Weighted Average Common Shares Outstanding                                                     5,813,984       5,813,984
  Diluted Weighted Average Common Shares Outstanding                                                   5,957,134       5,901,581

KEY RATIOS
  Return on Average Assets                                                                                  1.18%           1.08%
  Return on Average Common Stockholders' Equity                                                            16.65           15.91
  Efficiency  (Noninterest Expense / Gross Interest Income
      plus Noninterest Income)                                                                             60.04           63.17
  Average Equity to Average Assets                                                                          7.07            6.80
  Net Interest Margin                                                                                       3.93            4.12
  Net Charge Offs to Average Loans                                                                          0.23            0.08
  Loan Loss Reserve to Loans                                                                                1.18            1.12
  Nonperforming Assets to Loans                                                                             1.06            0.46
  Tier 1 Leverage                                                                                           8.12            7.92
  Tier 1 Risk-Based Capital                                                                                10.54           10.43
  Total Capital                                                                                            11.59           11.42

ASSET QUALITY
  Loans Past Due 90 Days or More                                                                 $         3,386  $          213
  Non-accrual Loans                                                                                        5,208           1,703
  Net Charge Offs                                                                                            458             139
  Other Real Estate Owned                                                                                    109           1,435
  Other Nonperforming Assets                                                                                  62              51
  Total Nonperforming Assets                                                                               8,765           3,402

                                          LAKELAND FINANCIAL CORPORATION
                                            CONSOLIDATED BALANCE SHEETS
                                    As of March 31, 2003 and December 31, 2002
                                                  (in thousands)

                                                                                      March 31,    December 31,
                                                                                        2003           2002
                                                                                    ------------   ------------
                                                                                            (Unaudited)
                                                                                             
ASSETS
Cash and cash equivalents:
  Cash and due from banks                                                           $     52,344   $     74,149
  Short-term investments                                                                   8,190         13,000
                                                                                    ------------   ------------
     Total cash and cash equivalents                                                      60,534         87,149
Securities available-for-sale:
  U. S. Treasury and government agency securities                                         14,171         17,284
  Mortgage-backed securities                                                             221,498        222,036
  State and municipal securities                                                          40,527         34,785
                                                                                    ------------    -----------
       Total securities available-for-sale                                               276,196        274,105

Real estate mortgages held-for-sale                                                        7,001         10,395
Loans:
  Total loans                                                                            826,865        822,676
  Less: Allowance for loan losses                                                          9,742          9,533
                                                                                    ------------   ------------
     Net loans                                                                           817,123        813,143
Land, premises and equipment, net                                                         24,612         24,768
Accrued income receivable                                                                  5,124          4,999
Goodwill                                                                                   4,970          4,970
Other intangible assets                                                                    1,005          1,042
Other assets                                                                              25,051         27,215
                                                                                    ------------   ------------
     Total assets                                                                   $  1,221,616   $  1,247,786
                                                                                    ============   ============
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Deposits:
  Noninterest bearing deposits                                                      $    167,558   $    192,787
  Interest bearing deposits                                                              793,936        720,538
                                                                                    ------------   ------------
     Total deposits                                                                      961,494        913,325
Short-term borrowings:
  Federal funds purchased                                                                  9,300         30,000
  Securities sold under agreements
    to repurchase                                                                         91,457        124,968
  U.S. Treasury demand notes                                                                 581          4,000
  Other borrowings                                                                        10,000         26,000
                                                                                    ------------   ------------
     Total short-term borrowings                                                         111,338        184,968
Accrued expenses payable                                                                  10,773         12,503
Other liabilities                                                                          1,246          2,417
Long-term borrowings                                                                      31,347         31,348
Guaranteed preferred beneficial interests in
  Company's subordinated debentures                                                       19,351         19,345
                                                                                    ------------   ------------
     Total liabilities                                                                 1,135,549      1,163,906
STOCKHOLDERS' EQUITY
Common stock: No par value, 90,000,000 shares authorized,
  5,813,984 shares issued and 5,770,565 outstanding as of
  March 31, 2003, and 5,813,984 shares issued and 5,767,010
  outstanding at December 31, 2002                                                         1,453          1,453
Additional paid-in capital                                                                 9,591          8,537
Retained earnings                                                                         73,230         70,819
Accumulated other comprehensive income                                                     2,612          3,937
Treasury stock, at cost                                                                     (819)          (866)
                                                                                    ------------   ------------
     Total stockholders' equity                                                           86,067         83,880
                                                                                    ------------   ------------
     Total liabilities and stockholders' equity                                     $  1,221,616   $  1,247,786
                                                                                      ============ ============

                                          LAKELAND FINANCIAL CORPORATION
                                         CONSOLIDATED STATEMENTS OF INCOME
                                 For the Three Month Ended March 31, 2003 and 2002
                                       (in thousands except for share data)
                                                    (Unaudited)

                                                                                        Three Months Ended
                                                                                             March 31,
                                                                                    ---------------------------
                                                                                        2003           2002
                                                                                    ------------   ------------
                                                                                            
INTEREST AND DIVIDEND INCOME
- ----------------------------
Interest and fees on loans: Taxable                                                 $     11,833   $     12,336
                            Tax exempt                                                        63             33
                                                                                    ------------   ------------
   Total loan income                                                                      11,896         12,369
Short-term investments                                                                        27             28
Securities:
 U.S. Treasury and government agency securities                                              170            395
 Mortgage-backed securities                                                                2,932          2,758
 State and municipal securities                                                              428            400
 Other debt securities                                                                         0            115
                                                                                    ------------   ------------
   Total interest and dividend income                                                     15,453         16,065

INTEREST EXPENSE
- ----------------
Interest on deposits                                                                       3,786          4,352
Interest on short-term borrowings                                                            340            920
Interest on long-term borrowings                                                             769            572
                                                                                    ------------   ------------
   Total interest expense                                                                  4,895          5,844
                                                                                    ------------   ------------
NET INTEREST INCOME                                                                       10,558         10,221
- -------------------
Provision for loan losses                                                                    667            502
                                                                                    ------------   ------------
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES                                                                  9,891          9,719
- -------------------------                                                           ------------   ------------
NONINTEREST INCOME
- ------------------
Trust and brokerage fees                                                                     610            658
Service charges on deposit accounts                                                        1,664          1,398
Other income (net)                                                                         1,019            928
Net gains on the sale of real estate mortgages
  held-for-sale                                                                            1,079            361
                                                                                    ------------   ------------
   Total noninterest income                                                                4,372          3,345

NONINTEREST EXPENSE
- -------------------
Salaries and employee benefits                                                             4,705          4,598
Occupancy and equipment expense                                                            1,362          1,099
Other expense                                                                              2,897          2,872
                                                                                    ------------   ------------
   Total noninterest expense                                                               8,964          8,569

INCOME BEFORE INCOME TAX EXPENSE                                                           5,299          4,495
- --------------------------------
Income tax expense                                                                         1,784          1,541
                                                                                    ------------   ------------
NET INCOME                                                                          $      3,515   $      2,954
- ----------                                                                          ============   ============
BASIC WEIGHTED AVERAGE COMMON SHARES OUTSTANDING                                       5,813,984      5,813,984
BASIC EARNINGS PER COMMON SHARE                                                     $       0.60   $       0.51
- -------------------------------                                                     ============   ============
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING                                     5,957,134      5,901,581
DILUTED EARNINGS PER COMMON SHARE                                                   $       0.59   $       0.50
- ---------------------------------                                                   ============   ============