Lake City Federal Bank

Headquarters

201 East Marion Street
Lake City, MN 55041
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 0.95% →
1-Year CD 0.75% 1.01% →
2-Year CD 0.80% 0.95% →
5-Year CD 1.05% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Lake City Federal Bank is an FDIC insured institution located in Lake City, MN. It was founded in 1934 and has approximately $0.07 billion in assets.

FDIC Insured Yes
FDIC Certificate # 29049
Date Established 1934
Assets $ 72.23 million
Loans $ 51.08 million
Deposits $ 60.23 million
Capital $ 9.64 million
 

For a more detailed analysis of Lake City Federal Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.25% $10,000 $14,999 Learn More
3 Mo CD
0.25% $100,000 $199,999 Learn More
6 Mo CD
0.35% $10,000 $14,999 Learn More
6 Mo CD
0.35% $100,000 $199,999 Learn More
12 Mo CD
0.75% $10,000 $14,999 Learn More
12 Mo CD
0.75% $100,000 $199,999 Learn More
18 Mo CD
0.75% $10,000 $14,999 Learn More
18 Mo CD
0.75% $100,000 $199,999 Learn More
24 Mo CD
0.80% $10,000 $14,999 Learn More
24 Mo CD
0.80% $100,000 $199,999 Learn More
36 Mo CD
0.85% $10,000 $14,999 Learn More
36 Mo CD
0.85% $100,000 $199,999 Learn More
48 Mo CD
0.90% $10,000 $14,999 Learn More
48 Mo CD
0.90% $100,000 $199,999 Learn More
60 Mo CD
1.05% $10,000 $14,999 Learn More
60 Mo CD
1.05% $100,000 $199,999 Learn More


Loan Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Lake City Federal Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.569% 2.500% 0.88 $2,258 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info

Note to Lake City Federal Bank
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Branches

Lake City Federal Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Lake City Federal Bank Locations


Financial Details

Lake City Federal Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Lake City Federal Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Lake City Federal Bank U.S. Bank Average
3.42% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Lake City Federal Bank had $338,000 in non-current loans and $18,000 in owned real estate. To cover these potential losses it had $9,637,000 in equity and $758,000 in loans loss reserves. That gives it a Texas Ratio of 3.42%.

Return on Equity
Lake City Federal Bank U.S. Bank Average
2.24% 7.80%

Lake City Federal Bank has a Return on Equity of 2.24% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Lake City Federal Bank U.S. Bank Average
13.34% 12.68%

Lake City Federal Bank has a Capitalization of 13.34% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Lake City Federal Bank Balance Sheet Analysis

As of March 31, 2020, Lake City Federal Bank had assets of $72,229,000, loans of $51,083,000, and deposits of $60,226,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 6.65 million
Interest-bearing balances $ 5.86 million
Total securities $ 11.69 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 51.08 million
Loan loss allowance $ 0.76 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.02 million
Goodwill and other intangibles N.A.
All other assets $ 0.73 million
     Total Assets $ 62.59 million
LIABILITIES
Total deposits $ 60.23 million
      Interest-bearing deposits $ 44.56 million
      Deposits held in domestic offices $ 60.23 million
      % insured (estimated) 98.94%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1.50 million
Subordinated debt N.A.
All other liabilities $ 0.87 million
      Total Liabilities $ 62.59 million
      Shareholders’ Equity $ 9.64 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.67 million
Total Interest Expense $ 0.11 million
Net interest income $ 0.56 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.04 million
Total non interest expense $ 0.54 million
Pre-tax Net Operating Income $ 0.07 million

Bank Loan Profile?

The top three loan types in Lake City Federal Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Consumer Auto Loans.

Compared to other banks in Minnesota, Lake City Federal Bank has a significantly higher percent of 1-4 Family Residential Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 68.73
Multifamily
Mortgages
2.73
Credit Card Loans 0.00
Consumer Auto Loans 2.80
Small Business Loans 0.00
Construction and Development Loans 2.10
Commercial Real Estate 9.54
Commercial and Industrial Loans 1.32
Farm Loans 1.83

Frequently Asked Questions About Lake City Federal Bank

Branches and Savings

Is Lake City Federal Bank FDIC insured?

Yes. It is covered under FDIC Certificate #29049.

Why does Lake City Federal Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Lake City Federal Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Lake City Federal Bank a commercial bank?

Yes

Where are Lake City Federal Bank locations?

See branch locations nearby.

Is Lake City Federal Bank open on Saturdays?

Is Lake City Federal Bank open on Sundays?

What time does Lake City Federal Bank open?

What time does Lake City Federal Bank close?

Are Lake City Federal Bank ATMs Open 24/7?

Do Lake City Federal Bank ATMs accept cash deposits?

Can Lake City Federal Bank customers use other ATMs?

Do Lake City Federal Bank branches have notaries?

Will Lake City Federal Bank notarize my document?

What address for Lake City Federal Bank should I put for incoming ACH transfers?

Will the Lake City Federal Bank branch print checks?

Do Lake City Federal Bank checks expire?

Does Lake City Federal Bank require US citizenship to open account?

Can Lake City Federal Bank close my account?

Does Lake City Federal Bank Report to credit bureaus?

Does Lake City Federal Bank Use Equifax?

What is Lake City Federal Bank's ACH Routing Number?

What is Lake City Federal Bank's SWIFT code?

Products

Does Lake City Federal Bank offer mortgages?

Compare mortgage rates here.

Does Lake City Federal Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Lake City Federal Bank offer personal loans?

Compare personal loan rates here.

Does Lake City Federal Bank offer student loans?

Will Lake City Federal Bank cash a check?

Will Lake City Federal Bank redeem a savings bond?

Does Lake City Federal Bank cash savings bonds?

Will Lake City Federal Bank cash money orders?

Can Lake City Federal Bank issue a money order?

Does Lake City Federal Bank do currency exchange?

Background on The Bank

Who owns Lake City Federal Bank?

How long has Lake City Federal Bank been around?

Can Lake City Federal Bank transfer to other banks?

Does Lake City Federal Bank have quick pay?

Does Lake City Federal Bank accept rolled coins?

Will Lake City Federal Bank accept loose change?

Where is Lake City Federal Bank headquarters?

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