The Lake Bank

Overview / Commentary
613 First Avenue
Two Harbors, MN 55616

The Lake Bank is headquartered in Two Harbors and is the 134th largest bank in the state of Minnesota. It is also the 3,478th largest bank in the nation. It was established in 1889 and as of December of 2020, it had grown to 26 employees at 3 locations. The Lake Bank has an A health rating.


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Health Grade Components

FDIC Certificate #12195
Year Established1889
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.38%
Return on Equity - YTD3.9%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$152.8MM$130.9MM
LoansQ4 2020vs Q4 2019$110.7MM$97.8MM
DepositsQ4 2020vs Q4 2019$139.1MM$115.7MM
Equity CapitalQ4 2020vs Q4 2019$13.5MM$13.8MM
Loan Loss AllowanceQ4 2020vs Q4 2019$209.00K$1.2MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$493.00K$220.00K
Real Estate OwnedQ4 2020vs Q4 2019$0$465.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The Lake Bank Savings Account Rates

0.65%$100-Variable IRA
0.15%*$10k*-Regular Savings Account
OTHER TIERS: 0.10% Up to $10k

The Lake Bank Checking Account Rates

0.25%*$10k*-Investment Checking Account
OTHER TIERS: 0.00% Up to $3k | 0.03% $3k - $10k
0.10%*$100k*-Superior Checking
OTHER TIERS: 0.03% $500 - $50k | 0.05% $50k - $100k
0.05%*$1k*-Loyalty Checking Account
OTHER TIERS: 0.03% Up to $1k

The Lake Bank CD Rates

1.00%*$5k*-60 Month CD
OTHER TIERS: 0.95% $100 - $5k
0.95%*$5k*-48 Month CD
OTHER TIERS: 0.90% $100 - $5k
0.85%*$5k*-36 Month CD
OTHER TIERS: 0.80% $100 - $5k
0.65%*$5k*-24 Month CD
OTHER TIERS: 0.60% $100 - $5k
0.50%*$5k*-12 Month CD
OTHER TIERS: 0.45% $100 - $5k
0.50%*$5k*-18 Month CD
OTHER TIERS: 0.45% $100 - $5k
0.15%*$5k*-6 Month CD
OTHER TIERS: 0.10% $100 - $5k

The Lake Bank IRA Rates

1.00%$100-60 Month Fixed IRA
0.95%$100-48 Month Fixed IRA
0.85%$100-36 Month Fixed IRA
0.65%$100-24 Month Fixed IRA
0.50%$100-12 Month Fixed IRA
0.50%$100-18 Month Fixed IRA
0.15%$100-6 Month Fixed IRA

The Lake Bank Locations
The Lake Bank613 First AvenueTwo Harbors, MN 55616
Silver Bay Branch88 Outer DriveSilver Bay, MN 55614
Super One Branch802 11th StreetTwo Harbors, MN 55616

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