Lowry State 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.

The Lowry State Bank was first organized in 1899 but wasn’t officially chartered until December 26, 1907. On November 8, 1932, the Bank assumed the assets and liabilities of the Farmers and Merchants State Bank of Lowry.

In August 2002, controlling interest in Financial Services of Lowry, Inc. was sold to the Nelson/Martinson purchasing group. The group consists of Peter and Kari Nelson, Eric and Kirsten Nelson, and Paul Martinson. Robert Mork held the position of President until his retirement on December 31, 2007 when he was succeeded by David Lorence, who first joined the Bank in 2005. David Lorence, a native of Glencoe, MN, currently is the President of the Bank.

Lowry State Bank offers Checking Accounts, Savings Accounts, Certificates of Deposit, Individual Retirement Accounts, Ag and Commercial loans, Personal/consumer loans and Residential Real Estate loans, Other Products & Services.

Lowry State Bank
400 Florence Ave
PO Box 123
Lowry, MN 56349-0123
Phone: 320.283.5149
Fax: 320.283.5900