Lake Central Bank

Overview / Commentary
40 Chestnut Street West
Annandale, MN 55302

Lake Central Bank is headquartered in Annandale and is the 113th largest bank in the state of Minnesota. It is also the 3,251st largest bank in the nation. It was established in 1893 and as of March of 2020, it had grown to 35 employees at 2 locations. Lake Central Bank has an A+ health rating.


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Health Grade Components

FDIC Certificate #10989
Year Established1893
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.35%
Return on Equity - YTD31.51%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$157.7MM$149.6MM
LoansQ1 2020vs Q1 2019$83.5MM$76.4MM
DepositsQ1 2020vs Q1 2019$135.0MM$129.3MM
Equity CapitalQ1 2020vs Q1 2019$21.8MM$19.3MM
Loan Loss AllowanceQ1 2020vs Q1 2019$1.4MM$1.0MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$380.00K$1.4MM
Real Estate OwnedQ1 2020vs Q1 2019$100.00K$35.00K
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Lake Central Bank CD Rates

0.75%$1k-60 Month CD
0.75%$1k-Business 60 Month CD
0.60%$1k-60 Month One Time Step Up CD
0.60%$1k-Business 60 Month One Time Step Up CD
0.55%$1k-36 Month CD
0.55%$1k-Business 36 Month CD
0.50%$1k-24 Month CD
0.50%$1k-Business 24 Month CD
0.40%*$1k*-12 Month CD
OTHER TIERS: 0.35% $500 - $1k
0.40%*$1k*-Business 12 Month CD
OTHER TIERS: 0.35% $500 - $1k
0.25%$1k-182 Day CD
0.25%$1k-Business 182 Day CD
0.22%$1k-91 Day CD
0.22%$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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