Lake Central Bank, Financial Information

Terms and Definitions

• Domestic deposits

  The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
• Equity capital

  Total equity capital (includes preferred and common stock, surplus and undivided profits).
• ROA

  Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
• ROE

  Return on equity, annualized net income as a percent of average equity on a consolidated basis.

In 1893, The State Bank of Annandale began by founders William D. McDonald and L. Cofield. In 1933, Annandale State Bank was formed by the merger of The State Bank of Annandale and Citizens State Bank of Annandale. The merged bank resided in the building of the former Citizens State Bank of Annandale, with total assets of $337,104.

In 1980, ASB constructed a new building in Annandale, the current location of Annandale State Bank. Dwayne Bruns also became President of Annandale State Bank, with bank assets totaling $26.3 million. In 1989, Annandale State Bank constructed the current building of the ASB Clearwater Branch on State Highway 24, near I-94. In 1993, ASB celebrated 100 years in business.

Annandale State Bank offers a full line of consumer financial products to meet your needs. Whether you’re looking to open a checking account for a new business or you need a loan to purchase tools for your trade, Annandale State Bank’s business products provide you the financial support you need to help your business succeed. Annandale State Bank provides loan products for personal, home and business needs.

Annandale State Bank
40 Chestnut Street West
Annandale, MN 55302

ASB Clearwater Branch
700 State Highway 24 North
Clearwater, MN 55320