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Overview / Commentary
202 East Center Street
Warsaw, IN 46580

Lake City Bank is headquartered in Warsaw and is the 4th largest bank in the state of Indiana. It is also the 241st largest bank in the nation. It was established in 1872 and as of December of 2015, it had grown to 518 employees at 49 locations. Lake City Bank has an A+ health rating.

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Reviews (3)

The Bank Has Been Good For My Finances

Posted by: Anonymous | Mar 17, 2012

I 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

Posted by: grnbsh | Jun 20, 2010

I 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.

Don't Waste Your Time

Posted by: amexmale | Dec 9, 2011

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.)


Health Grade Components

FDIC Certificate #13102
Year Established1872
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.34%
Return on Equity - YTD12.1%
Annual Interest Income$122.9MM
Assets and Liabilities
AssetsQ4 2015vs Q4 2014$3.76B$3.43B
LoansQ4 2015vs Q4 2014$3.04B$2.72B
DepositsQ4 2015vs Q4 2014$3.18B$2.87B
Equity CapitalQ4 2015vs Q4 2014$411.9MM$376.0MM
Loan Loss AllowanceQ4 2015vs Q4 2014$43.6MM$46.3MM
Unbacked Noncurrent LoansQ4 2015vs Q4 2014$13.1MM$13.7MM
Real Estate OwnedQ4 2015vs Q4 2014$210.00K$284.00K

Rates for Lake City Bank are currently being reviewed.


Lake City Bank has 47 locations. Click to view all Lake City Bank locations.