# LAKE AREA BANK
LINDSTROM, MN · FDIC certificate 1390 · asset band <$300M · latest filing 2022-09 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 3 (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 | $149.2M | |
| Deposits | $118.1M | |
| Loans and leases | $7.8M | |
| Total equity | $27.7M | |
| Loans / deposits | 6.58% (p3 of band) | 63.45% |
| Liquid assets / assets | 79.44% (p96 of band) | |
| Uninsured deposits / deposits | 14.18% (p25 of band) | 20.44% |
| Brokered deposits | 1.97% | |
| Wholesale funding | 1.97% (p62 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 9.46% (p28 of band) | 10.74% |
| Unrealized securities loss / equity | -3.24% (p84 of band) | -26.93% |
| AOCI / equity | -4.18% (p73 of band) | |
| ROA (annualized) | 9.63% (p99 of band) | 0.89% |
| Net interest margin | 4.06% (p88 of band) | 3.22% |
| Efficiency ratio | 32.85% (p1 of band) | |
| Noncurrent loans | 1.04% (p81 of band) | 0.22% |
| Net charge-offs (annualized) | -0.07% (p5 of band) | |
| Reserve coverage of noncurrent | 100.00% | |
| Real estate % of loans | 68% | |
| Construction % of loans | 0.00% (p8 of band) | |
| Auto loans | $102,000 (1.30% of loans; DQ 2.94%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -67.2% | |
| Employees | 20 | |

## Flags firing in the latest filing

- **deposits shrinking** (`shrink_deposits`)
- **assets shrinking** (`shrink_assets`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | losing money, reserve under noncurrent |  |
| 2011-06 | 3 | noncurrent p90 |  |
| 2011-09 | 4 | charge-offs p90 |  |
| 2011-12 | 3 |  | noncurrent p90 |
| 2012-03 | 2 |  | losing money |
| 2012-06 | 4 | losing money, noncurrent p90 |  |
| 2012-09 | 4 |  |  |
| 2012-12 | 4 |  |  |
| 2013-03 | 4 |  |  |
| 2013-06 | 2 |  | charge-offs p90, losing money |
| 2013-09 | 3 | charge-offs p90 |  |
| 2013-12 | 5 | deposits shrinking, assets shrinking |  |
| 2014-03 | 2 |  | charge-offs p90, deposits shrinking, assets shrinking |
| 2014-06 | 2 |  |  |
| 2014-09 | 3 | charge-offs p90 |  |
| 2014-12 | 3 |  |  |
| 2015-03 | 2 |  | charge-offs p90 |
| 2015-06 | 3 | charge-offs p90 |  |
| 2015-09 | 1 |  | reserve under noncurrent, noncurrent p90 |
| 2015-12 | 0 |  | charge-offs p90 |
| 2016-03 | 0 |  |  |
| 2016-06 | 1 | capital falling |  |
| 2016-09 | 0 |  | capital falling |
| 2016-12 | 0 |  |  |
| 2017-03 | 1 | expense ratio p90 |  |
| 2017-06 | 1 | capital falling | expense ratio p90 |
| 2017-09 | 0 |  | capital falling |
| 2017-12 | 0 |  |  |
| 2018-03 | 0 |  |  |
| 2018-06 | 0 |  |  |
| 2018-09 | 0 |  |  |
| 2018-12 | 0 |  |  |
| 2019-03 | 1 | reserve under noncurrent |  |
| 2019-06 | 0 |  | reserve under noncurrent |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 1 | reserve under noncurrent |  |
| 2020-06 | 2 | charge-offs p90 |  |
| 2020-09 | 1 |  | charge-offs p90 |
| 2020-12 | 0 |  | reserve under noncurrent |
| 2021-03 | 0 |  |  |
| 2021-06 | 0 |  |  |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 2 | expense ratio p90, assets shrinking |  |
| 2022-06 | 2 | AOCI drag >20% of equity | assets shrinking |
| 2022-09 | 3 | deposits shrinking, assets shrinking, uninsured deposits leaving | expense ratio p90, AOCI drag >20% of equity |

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

- 2022-07-14 [First Resource Bank acquires part of northern Twin Cities bank - The Business Journals](https://news.google.com/rss/articles/CBMiqAFBVV95cUxQUHp3b0VUM0JSdldWdlpGRDQzRWYzTDdsOXh3bkdfV1ZMZXRsRm5mbEVDakhENHVSWHE5bUgzYnNkY1l5bkxjZmQyTFU1TmxzWVF1YTVDd05ITGw1ckpoS2ZOWU5JU2MxLXpuYVF2bEllWUJwOXAtT0U0Wm1KTGVGMG00eVBFQXBwbFY1QlRGQ01aMUZQVVc2TV9xVzZuQ1c2c2Z3NzFONng?oc=5) · The Business Journals
- 2022-12-02 [First Resource Bank acquires two new branches - hometownsource.com](https://news.google.com/rss/articles/CBMi8AFBVV95cUxQN0hvX05TV01mZzRTWGRuMjFDSC1pZFFha2VybTEyczYxaVBtR3I5Mm5ndDZzbTA1dDNCdllIQzMtbnNrZDNPSWxzMHdjU2xoUGpjd0ZES2I5cUsxWWoxbDk5RTltdjlRUUJwMXc3T251WDJpMTdXaUVSRnVPQldGLUNmNkkzRlIzWWhBenZUUm1mRlFtUW9tWVh6UURVeWE3eWFfdEFfUlZva01Pb1BfT2d0SEVMZlUwUGxmNjhaQ0d3UDFpV1czYUZ1SmE4eTNneDU1ZXBhQk5mSFNVb0VlczlYMDlEN3hlUE8xX2lIMlU?oc=5) · hometownsource.com
- 2021-08-12 [Royal Credit Union set to acquire Lake Area Bank in Minnesota - WEAU](https://news.google.com/rss/articles/CBMikgFBVV95cUxNVWpYYnFMNzg2d1ZXSzJZQU1CVEtPaGVIZDg4SjdlUWMxUllDOVlYRUQzckQtNl9iUTAzM3JGQkxTZkpRbGhFYTFQdXpneXBTVHI3V21vRXNFbVIyVWRPMFUtSFNJcDdrZXc0bVpPOFpvbWoyUHg1UjRZeTQ5SU9ucHZ2MzRDU1h5WFJVcjR1R3YxQdIBpgFBVV95cUxNVUtmN3h0UHhZWFdBcnNnVTdQV1RmRUJfWnl1RC03RkNXTkF4NHZwT1c5UTV6MkhRMXZ4bGhrckkwMDI1RUkxOUYzNjFGUVRnbTZDMzNXWEJudEVVM1FveHA0V1MtNFl0UGh1UzkwLURJYXp0QVMzbXhMOHVrOXFSS2U4eWl0aXQwZTZGNVhYTlc3WVQtTDJiZHlQRk1tZDg5dUNtVjJB?oc=5) · WEAU
- 2021-08-30 [RCU Grows With Purchase of Minnesota Bank - Volume One](https://news.google.com/rss/articles/CBMilAFBVV95cUxOR0NFQnN2V0U0TTlZRkk1V0NOX2tRaTJEbDJhbWUyaG1BV3Z5QXZTUHR0NXN2Nk1TVHlWQlJTNHZyUmdDcjdXZVlqc09mcU5zcnRsSHNCbjVvaUtTNE5ZdUQ5SWpvWE5kZTg2VFBrSjI5V1NJSXRRUU9hOHN1VjFrN0s2elNlTlYtdjVLYVJvazExa3Ji?oc=5) · Volume One
- 2025-08-01 [Paul Wilcox Joins National Bank of Commerce as SVP - Chief Mortgage Banking Officer - Duluth News Tribune](https://news.google.com/rss/articles/CBMi8AFBVV95cUxOaDZIYjdUVzZiN1VfbXNuUENDeURxWmNqSTM1V2pQWkZRNllaNFZsVjZLS2xydGh4ZHo0VjNtYXJlTHpVNjUwNWNRMWlxSVpuVHlFWk1HREJMVlctUFZRR3loM3ZpdTlnREdSTGRrOXR1SjZvY1FoTFpYOXVmYVJnNHVrVEhveDhTdHQwZGtmWFhndGFxX0VjbHFuSkI3dE9UTDZoam5wTHIyd0I3a0NrWFZaYTY4WjJCTllqTlY3Y0MzUGdrNGJ0QW1WRER1bThZVjdZc00wMEhuUkxheTNwUVBLUHZaVFJYSEhrU0VyX0Q?oc=5) · Duluth News Tribune
- 2020-06-23 [White Bear Lake area small business owners facing extreme challenges - presspubs.com](https://news.google.com/rss/articles/CBMi6wFBVV95cUxNaWJvZ1VWdG95eFVGd2hMTnltQ3BxdV9SNVhsc19VcE4tdU9TNHY0VVJmZC1paFhQTXEyZkdrdDRIclQycENkMlB2TWFnQ0tSaFZEX3FQWjRSYU9YZ0J0czQ0OVdwaVIxc1ZnX0w4ZEl1elhWcEZuUmNFNlhBeElpVS1Ta19rVHlxd21PcEROT3RxYktCSlNHR3l0clRVYUhzeXdsTEFsVHZpN2pYR2dCZVNBNFA1bTJDWVp4Q2FvUTBRcXE3SFlxbEZjb3VGZHF0SDZzUjREVjBUX3ZpcUNsVlBxTTRQTjdQUWJF?oc=5) · presspubs.com
- 2022-03-18 [Minneapolis Man Richard Woods, 38, Gets 25 Years In Prison For Armed Robberies - CBS News](https://news.google.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?oc=5) · CBS News
- 2024-05-28 [Claire Erickson Obituary - MN - Pioneer Press](https://news.google.com/rss/articles/CBMidkFVX3lxTFBKT01kcS1TdHZudjEwRlAxdTV3SnFSREMta0t2WWR0U09jd09OajVfLUVGV3B3MnU1VkRYSTRFTy1GNzBTNWgtZG9McEd0ejZFSFhSVXFHcHdGLUs1b3FWVHJFSjRUMjhqNVFJcWdBNWJIR0xnb1E?oc=5) · Pioneer Press

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=1390 (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/46.json (key "1390", 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