Minnesota Lakes Bank


Overview / Commentary
763-972-3385
710 Babcock Boulevard
Delano, MN 55328

Minnesota Lakes Bank is headquartered in DELANO and is the 147th largest bank in the state of Minnesota. It is also the 3,614th largest bank in the nation. It was established in 1982 and as of March of 2024, it had grown to 22 employees at 2 locations. Minnesota Lakes Bank has a B health rating.

Reviews (2)

Worst Bank Ever

Posted by: |

A neighbor was buying a car from me and I needed cash because I couldn't wait for a check to clear. They got a loan from this bank. The bank refused to cash their own cashiers check even though we were planning on doing the transaction at their bank and I gave them warning that I would need cash. They refused to transfer money to cover their own check. Customer service was snippy and refused to give any help. I asked how could I trust their check if they didn't trust it enough to cash it and refused to get the funds to do so? It was only for 20K and they would have had plenty of time to have any neded cash delivered. I used to work at a bank.

Terrible Customer Service

We tried doing business with the branch in Mound, MN when we first moved to town. The ladies at the drive through were so rude to me and my wife that we finally moved over to Well Fargo. Haven’t had a problem since. Good riddance MLB.



Health

Health Grade Components

Overall
FDIC Certificate #23986
Year Established1982
Employees22
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.24%
Return on Equity - YTD12.75%
Annual Interest Income$1.6MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$128.5MM$132.5MM
LoansQ1 2024vs Q1 2023$78.3MM$70.5MM
DepositsQ1 2024vs Q1 2023$114.2MM$120.1MM
Equity CapitalQ1 2024vs Q1 2023$13.2MM$11.7MM
Loan Loss AllowanceQ1 2024vs Q1 2023$549K$583K
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$1MM$164K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates

Sorry, we do not have rate data for Minnesota Lakes Bank.

Locations


Minnesota Lakes Bank Locations
Mound Branch2290 Commerce BoulevardMound, MN 55364
Crow River State Bank710 Babcock Blvd EDelano, MN 55328

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