The Lake Bank in Two Harbors, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Lake Bank - Overview

  • General
  • FDIC Certificate #: 12195
    Status: Active
    Federal Reserve ID: 834755
    Bank Holding Company (Regulatory Top Holder): Mesaba Bancshares, Inc. (RSSDID: 2217503, Location: Grand Rapids, MN)
    Date Established: January 01, 1889
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 13988
    FDIC's unique #: 7746
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 613 First Avenue, Two Harbors, MN 55616
    County: Lake
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Minneapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $99.8 mil
    Equity capital: $9.9 mil
    Deposits held in domestic offices: $89.6 mil
    Return on assets (ROA): 0.70% ($0.7 mil)
    Quarterly return on assets: 2.81% ($2.8 mil)
    Return on Equity (ROE): 7.50% ($0.8 mil)
    Quarterly return on equity: 28.71% ($2.9 mil)
    Net income: $0.7 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 0.03% ($29.9 mil)
    Quarterly Pretax return on assets: -0.35% (-$349.4 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 27Total employees (full-time equivalent)
  • $99,824Total assets
  • $3,456Cash and due from depository institutions
  • $2,986Interest-bearing balances
  • $17,954Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $70,680Net loans & leases
  • $2,203Loan loss allowance
  • $0Trading account assets
  • $1,309Bank premises and fixed assets
  • $3,807Other real estate owned
  • $279Goodwill and other intangibles
  • $99,824Life insurance assets
  • $2,339All other assets
  • $89,884Total liabilities and capital
  • $89,585Total liabilities
  • $82,675Total deposits
  • $89,585Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $299Subordinated debt
  • $9,940All other liabilities
  • $9,940Total equity capital
  • $9,940Total bank equity capital
  • $0Perpetual preferred stock
  • $120Common stock
  • $8,180Surplus
  • $1,640Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $98Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,930Income earned, not collected on loans
  • $0Earning assets
  • $368Long-term assets (5+ years)
  • $91,620Average Assets, year-to-date
  • $20,954Average Assets, quarterly
  • $100,055Volatile liabilities
  • $99,449Insider loans
  • $64,018FHLB advances
  • $97,599Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $8,621Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,731Restructured Loans and leases
  • $86Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,557Total interest income
  • $755Total interest expense
  • $3,802Net interest income
  • $1,375Provision for loan and lease losses
  • $50Total noninterest income
  • $0Fiduciary activities
  • $150Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$100Additional noninterest income
  • $2,857Total noninterest expense
  • $1,532Salaries and employee benefits
  • $366Premises and equipment expense
  • $959Additional noninterest expense
  • -$380Pre-tax net operating income
  • $414Securities gains (losses)
  • -$671Applicable income taxes
  • $705Income before extraordinary items
  • $0Extraordinary gains - net
  • $705Net income attributable to bank
  • $0Net charge-offs
  • $705Cash dividends
  • $740Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.95%Yield on earning assets
  • 0.82%Cost of funding earning assets
  • 4.13%Net interest margin
  • 0.05%Noninterest income to earning assets
  • 3.11%Noninterest expense to earning assets
  • 0.29%Net operating income to assets
  • 0.70%Return on assets (ROA)
  • 0.03%Pretax return on assets
  • 7.50%Return on equity (ROE)
  • 7.50%Retained earnings to average equity (YTD only)
  • 0.98%Net charge-offs to loans
  • 185.81%Credit loss provision to net charge-offs
  • 1.34%Efficiency ratio
  • 74,169Assets per employee
  • 3.70%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.02%Loss allowance to noncurrent loans
  • 31.79%Noncurrent assets plus other real estate owned to assets
  • 10.76%Noncurrent loans to loans
  • 9.51%Net loans and leases to deposits
  • 78.90%Net loans and leases to core deposits
  • 84.88%Equity capital to assets
  • 9.96%Core capital (leverage) ratio
  • 8.83%Tier 1 risk-based capital ratio
  • 13.47%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $100,055Average earning assets
  • $9,401Average equity
  • $91,975Average loans

List of branches

  • 3 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07746The Lake Bank613 First Avenue, Two Harbors, MN 55616January 01, 1889Full Service Brick and Mortar
    1226647Silver Bay Branch88 Outer Drive, Silver Bay, MN 55614November 23, 1993Full Service Brick and Mortar
    2226648Super One Branch802 11th Street, Two Harbors, MN 55616December 19, 1996Limited Service Facility

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