Mindy Creighton Truex
About Mindy Creighton Truex
Independent director of Lakeland Financial Corporation (LKFN) and Lake City Bank appointed May 13, 2025; member of LKFN’s Audit Committee. President of Creighton Brothers Farms LLC with deep agricultural operating experience; holds a B.S. in Agribusiness Management from Purdue University. Age was not disclosed in company materials. Quote: “As a sixth generation Kosciusko County farmer, I’m honored to join the Lake City Bank and Lakeland Financial Corporation boards.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Creighton Brothers Farms LLC | President | Not disclosed | Led innovative initiatives including educational and farm-to-table experiences |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| American Egg Board | Leadership roles | Not disclosed | National agricultural advocacy leadership |
| United Egg Producers | Leadership roles | Not disclosed | Industry advocacy leadership |
| Indiana State Poultry Association | Leadership roles | Not disclosed | State industry leadership |
| Purdue Univ. Animal Science Dean’s Advisory Committee | Member | Not disclosed | Academic advisory role |
| Kosciusko County Visitor’s Bureau | Board service | Not disclosed | Community organization board service |
| Kosciusko County Community Foundation | Board service | Not disclosed | Community organization board service |
| Kosciusko County Leadership Academy | Board service | Not disclosed | Community organization board service |
| Purdue Univ. Kosciusko County Agricultural Extension | Board service | Not disclosed | Extension board service |
| Kosciusko County Farm Bureau | Board service | Not disclosed | Local ag organization service |
| United Way of Kosciusko County | Board service | Not disclosed | Community organization board service |
Board Governance
- Appointment and committee assignment: Appointed a director of LKFN and Lake City Bank on May 13, 2025; named to LKFN’s Audit Committee; no arrangements/understandings pursuant to which she was selected were disclosed.
- Independence: Audit Committee members must meet additional independence criteria under Nasdaq rules per company governance; her specific independence determination was not stated in the appointment 8‑K.
- Attendance and engagement baseline: LKFN’s Board held six meetings in 2024; all incumbent directors attended at least 75% of Board and committee meetings; the Board held two executive sessions of independent directors in 2024; Blake W. Augsburger is Lead Independent Director.
- ESG and risk oversight framework: Nominating & Corporate Governance Committee oversees ESG; Audit oversees financial/legal/operational risks; a bank-level Corporate Risk Committee meets quarterly.
Fixed Compensation (Director Program Structure)
| Component | Amount/Structure |
|---|---|
| Annual Director Retainer (cash) | $35,000 |
| Committee Chair Retainers | Audit Chair $15,000; Compensation Chair $10,000; Governance Chair $10,000; Corporate Risk Chair $10,000 |
| Lead Independent Director Retainer | $15,000 |
| Equity – Annual Stock Grant | 1,300 fully vested shares per director (two grants of 650 shares, typically January and July) |
| Ownership Guidelines | Directors required to hold 5,000 shares within five years of becoming a director |
Notes: Non-employee directors are also directors of Lake City Bank but are not separately compensated for bank board service.
Performance Compensation
- No performance-based compensation is disclosed for non-employee directors; annual equity grants are fully vested stock (no options outstanding for non-employee directors as of year-end 2024).
Other Directorships & Interlocks
- Public company boards: None disclosed beyond LKFN in the Company’s appointment release.
- Interlocks/related directorships with customers/suppliers/competitors: None disclosed in Company filings.
Expertise & Qualifications
- Education: B.S., Agribusiness Management, Purdue University.
- Sector expertise: Agricultural operations and agribusiness leadership; community board leadership.
- Board-relevant skills: Audit oversight exposure through Audit Committee assignment; strong regional market connectivity aligning with LKFN’s community banking model.
Equity Ownership
| Holding Category | Shares/Units | Ownership Form | Source/Notes |
|---|---|---|---|
| Common Stock (direct) | 8,198 | Direct (D) | Initial Form 3 filing |
| Common Stock (indirect via LLC) | 22,500 | Indirect (I) – by LLC | Initial Form 3 filing |
| Common Stock (indirect via spouse) | 31,616 | Indirect (I) – by spouse | Initial Form 3 filing |
| Total Beneficial Common | 62,314 | Direct + Indirect | Sum of above; shares outstanding 26,016,340 as of 2/18/2025 → ≈0.24% beneficial ownership (62,314 / 26,016,340) |
| Derivative: Phantom Stock (spouse) | 12,149 | Indirect (I) – by spouse | Each unit equals 1 share; 7 remaining annual installments to be delivered (per Form 3 explanatory note) |
Alignment and policies:
- Director ownership guideline: 5,000 shares within five years; her reported beneficial holdings exceed the guideline.
- Hedging/pledging: Company prohibits hedging and requires prior approval for pledging of Company stock by insiders.
- Clawback: Company adopted an enhanced, SEC/Nasdaq-compliant clawback policy effective Oct 2, 2023.
Governance Assessment
Positives
- Audit Committee assignment signals immediate involvement in financial reporting and controls oversight.
- Strong “skin in the game”: 62,314 beneficial shares reported on Form 3, exceeding director ownership guideline (5,000 shares).
- Deep community and sector ties (agriculture) aligned with LKFN’s in-market relationship model; reinforces stakeholder credibility in core Indiana markets.
- Board-level governance practices (independent leadership, executive sessions, ESG oversight, anti-hedging/pledging, clawback policy) support investor confidence.
Watch items
- Independence and related-party exposure: No related-party transactions disclosed for her; monitor future filings given extensive regional engagements to ensure no conflicts under Item 404.
- Attendance/engagement metrics will only be observable in subsequent proxy cycles given her May 2025 appointment.
Insider Filings Snapshot
| Filing | Date | Key Disclosure |
|---|---|---|
| Form 3 (Initial Statement of Beneficial Ownership) | May 23, 2025 | Reported 62,314 total beneficial common shares (direct + indirect) and 12,149 phantom stock units held indirectly via spouse; Director status checked. |
Notes
- Also appointed to the board of Lake City Bank, LKFN’s wholly owned bank subsidiary, on May 13, 2025.
- Company press release introduced her background and quoted her commitment to the community, reinforcing board-market alignment.