The Lake Bank, Financial Information

About The Lake Bank

 Address:
613 First Avenue
Two Harbors, MN
Lake County, Minnesota
 Established:
Jan 1889
 Number of domestic offices:
3
Total assets$153M
Net income$1M
Net income, quarterly$0M
Total deposits$139M
Domestic deposits$139M
Equity capital$13M
ROA0.38%
ROAQ, quarterly1.05%
ROA, pretax1.05%
ROAQ, quarterly, pretax1.45%
ROE3.9%
ROEQ, quarterly11.92%
UpdatedMay 20, 2021

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 Lake Bank is the oldest bank in Lake County, being established in 1889 as Sellwook, Burke & Co. In 1897 the name of the bank was changed to Bank of Two Harbors, remaining a private bank until 1908, at which time it was reorganized under the state bank laws and adopted the name of Commercial State Bank. In September 1999, the bank was converted to a national bank and thanks to a community contest renamed; The Lake Bank, National Association. Then in 2005, the bank converted back to a state charter which it remains today.

The Lake Bank has remained a strong community bank serving all of its customer needs. Offering traditional banking services and much more. The Lake Bank offers a complete array of personal savings account, personal checking account, and personal loan products to meet your individual needs. The Lake Bank offers a full array of business banking solutions to help you meet the many challenges of managing your business in today's fast paced environment. The Lake Bank's experienced Mortgage Bankers will help you choose the right mortgage for your home, and make pre-qualification simple and fast.

Main Branch
613 1st Avenue
Two Harbors, MN 55616
Phone 1-218-834-2111
Toll Free Phone 1-888-852-2117
Fax 1-218-834-4753

Silver Bay Branch
88 Outer Drive
Silver Bay, MN 55614
Phone 1-218-226-4959
Fax 1-218-226-4962

Super One Branch
802 11th Street
Two Harbors, MN 55616
Phone 1-218-834-2110
Fax 1-218-834-3159