Lake Central Bank

Overview / Commentary
40 Chestnut Street West
Annandale, MN 55302

Lake Central Bank is headquartered in Annandale and is the 110th largest bank in the state of Minnesota. It is also the 3,302nd largest bank in the nation. It was established in 1893 and as of June of 2019, it had grown to 35 employees at 2 locations. Lake Central Bank's CD rates are 34% higher than the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #10989
Year Established1893
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.42%
Return on Equity - YTD18.91%
Annual Interest Income$3.0MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$155.1MM$148.9MM
LoansQ2 2019vs Q2 2018$79.7MM$76.5MM
DepositsQ2 2019vs Q2 2018$132.7MM$130.0MM
Equity CapitalQ2 2019vs Q2 2018$21.3MM$17.4MM
Loan Loss AllowanceQ2 2019vs Q2 2018$1.0MM$970.00K
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$1.4MM$1.2MM
Real Estate OwnedQ2 2019vs Q2 2018$35.00K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Lake Central Bank CD Rates

2.02%$1k-60 Month CD
2.02%$1k-Business 60 Month CD
1.86%$1k-60 Month One Time Step Up CD
1.86%$1k-Business 60 Month One Time Step Up CD
1.51%$1k-36 Month CD
1.51%$1k-Business 36 Month CD
1.36%$1k-24 Month CD
1.36%$1k-Business 24 Month CD
1.21%*$1k*-12 Month CD
OTHER TIERS: 0.75% $500 - $1k
1.21%*$1k*-Business 12 Month CD
OTHER TIERS: 0.75% $500 - $1k
0.75%$1k-182 Day CD
0.75%$1k-Business 182 Day CD
0.50%$1k-91 Day CD
0.50%$1k-Business 91 Day CD

Lake Central Bank Locations
Annandale State Bank40 Chestnut Street WestAnnandale, MN 55302
Clearwater Branch700 State Highway 24 NorthClearwater, MN 55320

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