Overview / Commentary
651-257-1117
12790 First Avenue North
Lindstrom, MN 55045

Lake Area Bank is headquartered in Lindstrom and is the 44th largest bank in the state of Minnesota. It is also the 2,004th largest bank in the nation. It was established in 1915 and as of September of 2018, it had grown to 100 employees at 5 locations. Lake Area Bank has a B+ health rating.

Reviews (4)

Lake Area Bank

I love my local bank and am literally across the street from them. The tellers usually remember my name and greet me with a friendly hello. I have my checking account, savings account, and a mortgage through them because they provide excellent customer service for all of the above. The one thing I don't like about having a small bank is a lack of 24/7 support that most big banks have, but I happily exchange for a small staff that knows me and my preferences. I generally drive up and the teller is VERY fast to make deposits or take cash out. Overall, I'm very happy with their level of service.

I like Lake Area Bank

I work right across the street from Lake Area Bank. They always have friendly employees and they usually remember my name. The drive-thru is VERY fast and they always do my deposits right. They have even reversed fees a couple times. I appreciate their location and their employees. They have done well enough to earn my mortgage too.

The head banker, specifically, sat down with us to open an account and quickly went through all details while semi-playing with our newborn daughter. She opened the account and had debit cards shipped out to us ASAP then also answered questions their online presence and how to use their app. Their app isn't the best, but its better than previous apps I've used for banking.

The one downside to Lake Area is they don't have 24/7 customer service like most larger banks, but their is next to no wait during service hours.

Customers Be Aware

Posted by: Anonymous | Jun 28, 2012

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

Posted by: Anonymous | Nov 30, 2011

Use a mortgage company for your mortgage!

This is not the place for a mortgage.



Health
B+

Health Grade Components

Overall
FDIC Certificate #1390
Year Established1915
Employees100
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.54%
Return on Equity - YTD15.91%
Annual Interest Income$9.8MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$332.3MM$323.8MM
LoansQ3 2018vs Q3 2017$235.8MM$211.1MM
DepositsQ3 2018vs Q3 2017$270.5MM$252.5MM
Equity CapitalQ3 2018vs Q3 2017$32.7MM$32.3MM
Loan Loss AllowanceQ3 2018vs Q3 2017$2.3MM$2.3MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$944.00K$1.4MM
Real Estate OwnedQ3 2018vs Q3 2017$4.1MM$5.1MM
Rates
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Lake Area Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.51%$5k-15 Month CD Special - New Money Only
Locations


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
Stillwater Branch5795 Morning Dove Avenue NorthStillwater, MN 55082
Forest Lake Branch91 South Lake StreetForest Lake, MN 55025

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