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Overview / Commentary
12790 First Avenue North
Lindstrom, MN 55045

Lake Area Bank is headquartered in Lindstrom and is the 61st largest bank in the state of Minnesota. It is also the 2,459th largest bank in the nation. It was established in 1915 and as of December of 2013, it had grown to 94 employees at 6 locations. Lake Area Bank has a C+ health rating.

Reviews (2)

Customers Be Aware

This bank has very poor Customer Service. They don't respond to emails, and don't ever admit to any wrong doing. This bank lies about checking things, and does not do its due diligence. If you are looking for a bank that cares about you and has your interests, this is not the bank for you. Would not recommend at all. Be warned!

Rough Mortgage Process

Use a mortgage company for your mortgage!

This is not the place for a mortgage.


Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Lake Area Bank had $17.4 million in non-current loans and owned real-estate with $28.95 million in equity and loan loss allowances on hand to cover it. This gives Lake Area Bank a Texas Ratio of 60.12% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Lake Area Bank decreased slightly from 69.99% as of December 31, 2012 to 60.12% as of December 31, 2013, resulting in a positive change of 14.10%.This indicates that the balance sheet and financial strength for Lake Area Bank has improved slightly in recent periods.

Deposit Growth


In the past year, Lake Area Bank has decreased its total deposits by -$13.98 million, resulting in -5.8% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Lake Area Bank has shown is below average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Lake Area Bank has $259.27 million in assets with $28.95 million in equity, resulting in a capitalization level of 11.17%, which is excellent.

Institution Statistics

FDIC Certificate #1390
Year Established1915
Primary RegulatorFDIC
Assets and Liabilities
Assets$259.27 million
Loans$156.97 million
Deposits$227.01 million
Equity Capital$24.12 million
Loan Loss Allowance$4.83 million
Unbacked Noncurrent Loans$10.42 million
Real Estate Owned$6.99 million
Historic Data - December 2012
Assets$276.31 million
Equity Capital$25.83 million
Loan Loss Allowance$5.19 million
Unbacked Noncurrent Loans$10.42 million
Real Estate Owned$6.41 million
Profit Margin - Quarterly
Net Interest Margin3.93%
Return on Assets0.01%
Return on Equity0.1%
Interest Income$10.55 million

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Lake Area Bank Locations
Lake Area Bank12790 First Avenue NorthLindstrom, MN 55045
White Bear Branch1400 East Highway 96White Bear Lake, MN 55110
Hugo Branch14602 Everton Avenue NorthHugo, MN 55038
Maplewood Branch1535a Beam AvenueMaplewood, MN 55109
Almelund15785 Maple LaneAlmelund, MN 55002
Stillwater Branch5795 Morning Dove Avenue NorthStillwater, MN 55082
Harris Branch6545 Stark Road, Box 22Harris, MN 55032
Forest Lake Branch91 South Lake StreetForest Lake, MN 55025