hands holding dirt and plants

Our Story

Lake Elmo Bank has built its tradition on a personal approach to banking.  We get to know our customers so that we understand each customer's unique needs with the intent of building long-term financial relationships.  This goal has been the foundation of our business for over 100 years.  We want to be your bank. 

Lake Elmo Bank History

Lake Elmo Bank was chartered on August 1, 1911 by a group of farmers and local
business owners. Their purpose was to establish a community bank which would be locally owned and responsive to the community’s needs.

The State Bank of Lake Elmo, now Lake Elmo Bank, has been and remains the community bank envisioned by its founders. Over the years, as the community gradually changed, so has Lake Elmo Bank to accommodate the community’s needs. But through it all, the Bank continued to remain locally owned and committed to its tradition of service.

Our tradition of service has guided us through many changes over the past 100 years – the change from a farm community to a more diverse, metropolitan community. At the same time, we have seen changes within the financial industry – from hand written ledgers to Online Banking and Cash Management Services.

Through all of these changes, we have remained close to our roots. Our dedication to customer service has been passed on through the generations. As new customers have brought us their business and our staff has expanded, we have worked very hard to remain true to our service tradition.

Today, with assets well over 535 million dollars, Lake Elmo Bank is among the larger community banks in the State of Minnesota. Because of its unique history and the bank's commitment to community service,  Lake Elmo Bank has successfully served the residents and businesses of the east metro area with a continued commitment to its tradition of service.

In addition to its main office on Highway 5 in Lake Elmo, the Bank offers full-service banking at both their Oakdale and Stillwater locations.