Lake Elmo Bank

business checking
We have designed three checking accounts to meet the varied needs of our business customers.  All accounts receive monthly statements or e-statements and printed images of all cancelled checks.  Free Online Banking is available to all business customers.  Please consult with our bankers to determine which account best fits your needs.  Please refer to our Rate Chart for current interest rates.

classic checking

Designed for businesses with high transaction volume.

No minimum balance requirement
Monthly maintenance fee of $12.00
Per item fee of $.16 on any check, debit, deposit ticket or credit
• Non-bank deposit item fee of $.09 each
• Charges will be offset by an Earnings Credit which is calculated on the Investable Balance

Sole proprietors may earn interest on this account if preferred over Earnings Credit.  Investable balance calculated after reserve requirement.


performance checking

Designed for businesses with moderate transaction activity.

Average ledger balance of $1,500
• Montly below balance fee of $10.00
• 150 checks or debits per month at no charge
• 150 deposit items per month at no charge
• $.40 charge on checks, debits or deposit items in excess of 150 per month

Sole proprietors may earn interest on this account.


small business checking

Designed for small business and clubs with low transaction activity.

No minimum balance required.
• 50 checks or debits per month at no charge
• 50 deposit items per month at no charge
•$.40 charge on checks, debits or deposit items in excess of 50 per month.


Click here
for our miscellaneous fees.

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