Statement of Condition

Dear Customers, Friends and Colleagues,
We are pleased to share with you our Statement of Condition.  Lake Elmo Bank continues to be a strong and well-capitalized institution.  Our capital position allows us to build on our 108-year tradition of building long-term customer relationships, which is the key to our success.  Our financial position also allows us to invest in staff and technology, so that we can provide our customers a full-range of loan and deposit products.  We intend to remain an independent, locally-owned and community-focused bank.

From all of us at Lake Elmo Bank, thank you for trusting us with your business and banking relationships.

  December 31, 2019

ASSETS
 Cash & Due from Banks $23,899,000
 Investment Securities 62,167,000
 Net Loans & Leases 273,824,000
 Premises & Fixed Assets 6,965,000
 Other Assets 9,219,000
 TOTAL ASSETS  $376,074,000
 LIABILITIES AND EQUITY CAPITAL
LIABILITIES:
Deposits $329,871,000
Other Liabilities 8,010,000
TOTAL LIABILITIES 337,881,000
TOTAL EQUITY CAPITAL 38,193,000
TOTAL LIABILITIES AND EQUITY CAPITAL $376,074,000

Chief Executive Officer
Daniel D. Raleigh
Chairman
Donald T. Raleigh
Chief Financial Officer
Richard P. Plummer

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