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statement of condition
We publish this Statement of Condition so that you can be assured of Lake Elmo Bank's continuing safety and soundness. With our strong capital position, we are well able to continue our tradition of providing a full range of financial products and personal service second to none. We are committed to remain an independent, locally-owned bank. We are proud that all of our employees are owners through participation in an employee stock ownership plan.
As to the quality of our service, we know that you are the best judge of our performance. We appreciate your business and we value your comments and suggestions. Please let us know if there is any way in which we can better serve your needs, so that our service is truly "second to none."
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| Cash & Due from Banks |
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| Investment Securities |
71,354,000 |
| Net Loans & Leases |
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| Premises & Fixed Assets |
8,211,000 |
| Other Assets |
14,513,000 |
| TOTAL ASSETS |
$272,588,000 |
LIABILITIES AND EQUITY CAPITAL
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| LIABILITIES: |
| Deposits |
$239,580,000 |
| Other Liabilities |
8,093,000 |
| Total Liabilities |
247,673,000 |
| EQUITY CAPITAL: |
| Common Stock |
$100,000 |
| Surplus |
12,400,000 |
| Undivided Profits |
11,834,000 |
| Net Unrealized Holding Gain on Securities |
581,000 |
| Total Equity Capital |
24,915,000 |
| TOTAL LIABILITIES AND EQUITY CAPITAL |
$272,588,000
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Michael J. Barrett, Director
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Rebecca R. Billingsley, Vice President
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Tracey A. Galowitz, Director
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Robert S. Hagstrom, Jr., Director
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Richard D. Hesse, Director
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Elizabeth R. Landherr, Vice President
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Daniel D. Raleigh, President/CEO
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Donald T. Raleigh, Chairman
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John F. Schiltz, Director
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CHIEF FINANCIAL OFFICER
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Bryan J. Kemnetz
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