# LAKES STATE BANK
BAXTER, MN · FDIC certificate 1389 · asset band <$300M · latest filing 2015-03 · stopped filing (departed)

**Verdict on the desk:** this could be *fortress*. Composite score 0 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $111.3M | |
| Deposits | $96.0M | |
| Loans and leases | $80.5M | |
| Total equity | $14.9M | |
| Loans / deposits | 82.43% (p72 of band) | 70.43% |
| Liquid assets / assets | 21.06% (p21 of band) | |
| Uninsured deposits / deposits | 13.66% (p52 of band) | 13.33% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p19 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 11.89% (p69 of band) | 10.49% |
| Unrealized securities loss / equity | -0.32% (p8 of band) | 1.32% |
| AOCI / equity | 1.04% (p71 of band) | |
| ROA (annualized) | 1.58% (p87 of band) | 0.80% |
| Net interest margin | 4.63% (p92 of band) | 3.57% |
| Efficiency ratio | 69.01% (p38 of band) | |
| Noncurrent loans | 0.01% (p15 of band) | 0.77% |
| Net charge-offs (annualized) | 0.00% (p58 of band) | |
| Reserve coverage of noncurrent | 14050.00% | |
| Real estate % of loans | 82% | |
| Construction % of loans | 88.84% (p94 of band) | |
| Auto loans | $2.5M (3.14% of loans; DQ 0.36%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -1.0% | |
| Employees | 32 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | reserve under noncurrent |  |
| 2011-06 | 0 |  | reserve under noncurrent |
| 2011-09 | 1 | reserve under noncurrent |  |
| 2011-12 | 2 | capital falling |  |
| 2012-03 | 1 |  | capital falling |
| 2012-06 | 0 |  | reserve under noncurrent |
| 2012-09 | 1 | capital falling |  |
| 2012-12 | 1 |  |  |
| 2013-03 | 0 |  | capital falling |
| 2013-06 | 0 |  |  |
| 2013-09 | 1 | capital falling |  |
| 2013-12 | 0 |  | capital falling |
| 2014-03 | 1 | uninsured deposits leaving |  |
| 2014-06 | 0 |  | uninsured deposits leaving |
| 2014-09 | 0 |  |  |
| 2014-12 | 0 |  |  |
| 2015-03 | 0 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2012-01-26 [Patriot Bank Minnesota of Forest Lake fails, is taken over by First Resource Bank of Savage - Pioneer Press](https://news.google.com/rss/articles/CBMiyAFBVV95cUxPOFZxRk5IT0dzSG5FN3VPTEtZd1VvRmdlZVNMXzhOeHgxQU5zQ3pHWHNCN1FKRWN5UVBBeEl0OFhUWFRFQ2JQZXBVSGJHVmtOTnkzUlNfOGk1Y19GTzVIUlZjd1NiSWhLaXZHcklta3VhNWdndDdLOVdvTFlsUWMycE83WlotZDZWUG0tbFRLdEsweXhXeGN6dGZRQ0todnJjMXJ0XzJsenZoN3FjWmh0b1FuZ3JfQ0gxLVhYMmJ1ZUhfVmNTTk5HSQ?oc=5) · Pioneer Press
- 2014-01-28 [Demars appointed PRSB board of directors president - pineandlakes.com](https://news.google.com/rss/articles/CBMikgFBVV95cUxOc3RXSWdtWkVuOW9CSDFEUVNqbUphdFowRnJ1Tlp5Z0t5Nllyd3FZQ3ZnYUx1VTdjSHBYdVpXcXZwTm12WXduZ0NFTV9qNGlld0dFNENSOFZqal9Db0tJVVI2Q3BJWUZBY20xRzNsZGxUOHNhUlQtSjQ0X1lmUk1PaGRtSl9uSV8xeVZGSlF5MWNGUQ?oc=5) · pineandlakes.com
- 2022-01-09 [Phyllis Mae (Budahl) Fredrickson Obituary Jan 9, 2022 - Bayview Freeborn Funeral Home](https://news.google.com/rss/articles/CBMicEFVX3lxTFA2ZDlvQ2hiZEJMS0llVkoyZWIyMG1IeUFCSVU3X0lMc0w2VlBiQWxuNTRyOXZ6UFRuM2g5ZzBsdmROa216R05LYTVlMFRYaERFdjF1bmdvdVFzNFlqM2tIcWJJVzluLXBYNmxwN2dkbkU?oc=5) · Bayview Freeborn Funeral Home
- 2017-02-27 [Maxine Gavle Obituary Feb 27, 2017 - Bonnerup Funeral & Cremation Services](https://news.google.com/rss/articles/CBMib0FVX3lxTE1Xcm1OZzBQNVBHX3hDV3BJa3dDZkU1a0E5SGoweC11MXRWcjN1ZXk4QWxaWUZZbWZNWU52OW95dnEwaDJBWVhiLWMtWVI3QmNWVWFvaDRPSWRXeWpqWVBNZFZSRWVUQkVNVTB0M0Z6dw?oc=5) · Bonnerup Funeral &amp; Cremation Services
- 2012-07-22 [Dan Steffen Obituary Jul 22, 2012 - brenny.com](https://news.google.com/rss/articles/CBMiWEFVX3lxTE52TjQwUF81amhYMVpNNFZHZURiXzUyZThHT0tCYzRKMEY2NFpvdTVGVVFRWkp3bnE3OUNrbjdHTi1lVjlLNkNUMEtXOVcxdnFfYmhxbUZKVUU?oc=5) · brenny.com
- 2026-01-20 [Roger Schwieters Obituary (2026) - Crosslake, MN - Brenny Family Funeral Chapel - Crosslake - legacy.com](https://news.google.com/rss/articles/CBMihgFBVV95cUxNUlJLMVNweU1WaFE3MTZBVnJ5SVVzOVFmZ0JxT0JkQWlEeGJLS19Yd24xaldjUmhubzNRMGV3ZW5wcFpPUnFNeTNJUGtpWVpPbmVPQm1XN1pEY1JYZUI2c2VkS0psRWR5ajBybHk4YmNrTmpWQkswTVlCMThhTi1NRlJrSlREdw?oc=5) · legacy.com
- 2014-06-23 [Miss Brainerd, Miss Baxter titles to be decided Saturday - Brainerd Dispatch](https://news.google.com/rss/articles/CBMimAFBVV95cUxNdmx3c0pGUmtHSEsxaHg2R3Qxa1p4N2E1OGhPdnFMV20yWTJHWDlTVHdicU03c3F3RDUtM3AwenpSZXNjV2tsWDZYdm9tTnVlLU9ScXU2OVBTUW44bVdVR0lwTGxjckktald5dzVNOXM0b3Z5UHRyTlV5YlhoN2Y2NWszQmJsT1RsQzVzTklpbWJENDFfUlZVNw?oc=5) · Brainerd Dispatch
- 2024-10-25 [Donald H. Engen Obituary Oct 25, 2024 - brenny.com](https://news.google.com/rss/articles/CBMiWkFVX3lxTE9UZjczMi11VDFjeUhydWF3MldIdDIzdklvVE1YVkFzOXFvUGkxOElIcVNWWFZ1NDRSS3d2RzlkeFBpblFDUUxhaXlhQlJSS2dicUF4QjBFVFBXUQ?oc=5) · brenny.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=1389 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/45.json (key "1389", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide