🏦Bank Scorer

This institution is no longer active

Operations ceased on November 9, 2022. CRA examination history below reflects the period it was active.

LAKE AREA BANK

LINDSTROM, MN · Supervised by FDIC

Est. 1915FDIC #1,390RSSD: FDIC-1390
Part ofWASECA BANCSHARES INC→ View all charters
Satisfactory Same

Current rating · Exam: October 2019

CompareWatch

At a Glance

Community Lending (CRA)

Satisfactory

Meets federal requirements for community lending

Financial Health

Adequate

ROA 9.63%

Institution Profile

FDIC BankFind

Address

12790 N 1st Ave, LINDSTROM, MN

County

Chisago County

Established

October 22, 1915

Total Assets

$149M(latest call report)

Community Reinvestment Rating

CRA / FFIEC

Federal regulators examine banks to ensure they lend and invest in the communities they serve, especially low- and moderate-income areas.

Overall Rating

Satisfactory

Meets federal requirements for community lending

Exam Date

October 1, 2019

Exam Type

Intermediate Small Bank

Regulator

FDIC
What is a CRA rating? →
⚠️This exam is 6 years old — CRA data may not reflect current lending practices. Regulators typically re-examine banks every 2–4 years.
Estimated next exam:Overdue(based on asset size)

Financial Snapshot

As of Q3 2022Call Report / FDIC

Total Assets

$149M

Total Deposits

$118M

Net Loans

$8M

Net Income

$25M

ROA

9.63%

ROE

76.87%

Risk-Based Capital

0.00%

Regulatory minimum: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Peer Comparison

Small banks

Compared to the peer-bank Small peer group (same asset tier).

Mortgage Denial Rate2.76%Peer avg: 7.63%▲ Above avg

Unlock peer list → See which specific banks are in this peer group.

Mortgage Lending

CFPB HMDA
YearApplicationsOrig. RateDenial Rate
20213,22087.73%2.76%
20203,08189.22%2.66%
20191,52891.03%3.27%
20181,32688.08%2.94%

2024 national avg denial rate: 23.75% · Small bank avg: 7.63% · above-average shown in red

Rating History

CRA / FFIEC

Rating Trend

→ Stable

Based on last 3 exams

9 previous ratings locked — dating back to 1990

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Rating Over Time

🔒 Locked
OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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