Lake City Bank

Overview / Commentary
202 East Center Street
Warsaw, IN 46580

Lake City Bank is headquartered in WARSAW and is the 7th largest bank in the state of Indiana. It is also the 229th largest bank in the nation. It was established in 1872 and as of March of 2023, it had grown to 619 employees at 54 locations. Lake City Bank's money market rates are 7X the national average, and it has a B+ health rating.

Reviews (3)

The Bank Has Been Good For My Finances

Posted by: |

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: |

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: |

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 - YTD1.56%
Return on Equity - YTD17.66%
Annual Interest Income$79.5MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$6.40B$6.55B
LoansQ1 2023vs Q1 2022$4.68B$4.29B
DepositsQ1 2023vs Q1 2022$5.52B$5.82B
Equity CapitalQ1 2023vs Q1 2022$579.6MM$589.4MM
Loan Loss AllowanceQ1 2023vs Q1 2022$71.2MM$67.5MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$17.7MM$13.9MM
Real Estate OwnedQ1 2023vs Q1 2022$100.00K$196.00K
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Lake City Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Lake City Bank Savings Account Rates

0.86%*-$50kRewards Plus Savings - Qualifying (Plus 4)
OTHER TIERS: 0.56% $50k+
0.66%*-$50kRewards Plus Savings - Qualifying (Plus 3)
OTHER TIERS: 0.56% $50k+
0.56%--Rewards Plus Savings - Qualifying (Base)
0.36%*-$50kRewards Savings- Qualifying (Plus 4)
OTHER TIERS: 0.16% $50k+
0.26%*-$50kRewards Savings- Qualifying (Plus 3)
OTHER TIERS: 0.16% $50k+
0.25%*$50k*-Health Savings Account Checking
OTHER TIERS: 0.05% $1 - $1k | 0.10% $1k - $5k | 0.15% $5k - $15k | 0.20% $15k - $50k
0.16%--Rewards Savings- Qualifying (Base)
0.01%--Savings Account
0.01%--Young Savers

Lake City Bank Money Market Rates

3.25%$5k-Investor's Money Market
0.65%*$500k*-Business Preferred Money Market - First 6 Months Intro Rate
OTHER TIERS: 0.51% $1 - $50k | 0.55% $50k - $500k
0.15%*$500k*-Preferred Money Market
OTHER TIERS: 0.01% $1 - $50k | 0.05% $50k - $500k
0.15%*$500k*-Business Preferred Money Market
OTHER TIERS: 0.01% $1 - $50k | 0.05% $50k - $500k

Lake City Bank Checking Account Rates

1.51%*-$10kRewards Plus Checking
OTHER TIERS: 0.80% $10k+
1.50%*$50k*-Simple Earnings Checking
OTHER TIERS: 1.00% $5k - $50k
0.26%*-$15kRewards Checking
OTHER TIERS: 0.11% $15k+
0.15%$5k-Estate Checking

Lake City Bank CD Rates

4.70%$1k-6 Month Companion CD
4.25%$1k-13 Month Companion CD
4.25%$1k-9 Month Companion CD
4.00%$1k-18 Month Companion CD
4.00%$1k-27 Month Companion CD
4.00%$1k-44 Month Companion CD
3.75%$1k-60 Month Companion CD
3.50%$1k-48 Month Rate-Riser CD
3.50%$10k$10m18 Month Freedom Plus CD
3.25%$1k-24 Month Rate-Riser CD
1.00%$5k-12 Month Freedom CD
0.50%$500-60 Month CD
0.35%$500-24 - 35 Month CD
0.35%$500-36 - 59 Month CD
0.20%$500-3 - 5 Month CD
0.20%$500-6 - 11 Month CD
0.20%$500-12 - 23 Month CD


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.