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202 East Center Street Warsaw, IN 46581 574-267-6144 www.lakecitybank.com  |
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Lake City Bank is headquartered in Warsaw and is the 4th largest bank in the state of Indiana. It is also the 251st largest bank in the nation. It was established in 1872 and as of March of 2013, it had grown to 493 employees at 47 locations. Lake City Bank has a 5-star health rating.
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Lake City Bank announced today that as of June 16, 2013, they would be lowering the interest rates on their personal rewards checking account. The top rate will now be 1.01% for up to $25K and 0.36% for over 25K. Thank You.
Lake City Bank has announced that its personal rewards checking account will have its balance cap lowered from $50K to $25K as of March 16, 2013. The 1.51 APY remains in place for the time being on personal accounts. Thanks.
Reward checking accounts have always been limited to personal accounts. That may start to change. I just found a bank that now offers a business reward checking account. Lake City Bank in Indiana now ...
Lake City Bank has a 59 month CD paying 3%. This is one of the better rates around. I haven't seen this CD posted on any of the bank websites so I thought I'd post it on this forum
2011
2008
See Rates for: Checking | Savings
Lake City Bank Checking Account Rates
Lake City Bank Savings Account Rates
Data for Q1 2013
Institution Statistics
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Institution Health
Overall Score:
5 out of 5 
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The Bank Has Been Good For My Finances
- Anonymous - Saturday, March 17, 2012 - 11:24 AMI live in Indiana, but not in the bank's service area. Even though I was not living close to their service area I was able to open a rewards checking account in March 2011. A telephone call asking about my eligibility living in another Indiana location yielded a positive response. A mailed paper application, followed by an ACH deposit opened the account. The initial interest rate was 3.04%, but was lowered to 2.51% in Sept. 2011.
Service and communication has been excellent.
Rewards Checking
- grnbsh - Sunday, June 20, 2010 - 4:25 AMI opened up a rewards checking account, with the current 3.51% APY paid on the portion of the balance below $50,000. The account was easy to open up, plus I can open up a corresponding companion Rewards Savings account that now pays 1.51% APY on the entire balance. That beats many savings plans, or money market account rates.
3-year Term IRA CD
1.21% APY
Don't Waste Your Time
The bank's website says accounts are limited to people in certain counties but adds that "Lake City Bank reserves the right to make exceptions to this policy based on the individual applicant's situation."
I went to the branch in South Bend and explained my situation--I am planning a move back to South Bend over the period of the next year or so and want a local bank as I make the frequent trips necessary. The young lady called her superiors and was assured that the Bank was willing to make this exception.
I spent the next 90 minutes patiently waiting for the interminable process that this Bank goes through to produce reams of unnecessary paper. While I went through this, I wondered how the Bank can make any money, given its archaic technology. Nevertheless, the account was finally opened, and I left with a fistful of paper and some starter checks. I thought all was well.
Two days later, I received a phone call telling me the account had been closed and a check was in the mail. I expressed my surprise and asked for an explanation. The lady said that "upper management" had instructed her to close the account because it was out of their service area. I asked her to have someone from "upper management" call me, and she seemed taken aback. She said she would try, but, of course, no one ever called. And the exception language on the website hasn't changed.
So if you think "customer service" is important, think of another bank.
(It gets one star only because that's a requirement.)